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Commerce graduates have nothing to fear about their chosen career, there are so many job opportunities out there for them. However, the most common career paths for them include advertising, banking, business analysis, brokerage, consulting, customs brokerage, financial planning, insurance, investment banking, and marketing. Many people with degrees in commerce also start their own businesses.
In this guide, we have listed some of the best-paying jobs for commerce graduates.
1 List of Highest Paying Jobs for Commerce Graduates
A Business Analyst is a very attractive position that commands respect. The role is to analyze and proffer solutions to problems that affect a business. As a Business Analyst, you will find that the position is often needed in a variety of industries including banking, insurance, accounting, and manufacturing.
The average salary for a business analyst is $78,473 per year in the United States (indeed.com). Business analysts typically have at least a bachelor’s degree in business or computer science. However, many positions require or prefer a master’s degree. Certification from organizations such as the International Institute of Business Analysis (IIBA) can also enhance job prospects.
The Budget Analyst is responsible for the financial planning and execution of the budget for the organization. They work with senior management to develop and track annual operating budgets, as well as create forecasting models to predict future income and expenses. The Average Salary of a Budget analyst in 2022 in the US is $63K (payscale.com).
Budget analysts typically have a bachelor’s degree in finance, accounting, business administration, or economics. However, some employers may require a master’s degree or experience in lieu of a degree. Budget analysts need strong analytical skills to be able to methodically assess financial data and prepare reports detailing their findings. They also need to be able to effectively communicate their recommendations to senior management in order to influence decision-making.
An Investment Manager is responsible for helping individuals and organizations invest their money. They are professionals with vast ideas of how the market works, they know when to sell or invest. They usually deal in stocks, bonds, and other types of investments in order to help their clients make the most possible profit while also keeping the risks very low.
The average salary for an investment manager is around $87,000 per year. In the United States, with New York, Dallas, Irvine, Austin, and Miami topping the highest-paying cities for investment managers in the current year. However, experienced managers can make much more than that.
Chief Financial officer
A Chief Financial Officer (CFO) is at the top of the chain in the finance department of a company. A very important position that is responsible for all financial management tasks, including accounting, financial planning and control, capital spending, and investment.
The average salary for CFOs in the United States is around $135,010 per year. But, some CFOs earn even more, especially if they have lots of experience and work for big companies. One good thing about being a CFO is that you might be eligible for a profit-sharing basis. This means that you can receive up to 24K per year in bonuses, based on how well your company does financially.
This implies you getting a part of the profit of the company which might even be a better offer depending on the size of the company in the market. To be eligible for the profit-sharing plan, you must be working full-time at the company and for at least a year.
Being a Financial controller can be very rewarding in terms of salaries and bonuses. A financial controller is a person who is in charge of the financial management of a company or organization.
Their specific functions include but are not limited to producing financial reports, handling investments, overseeing spending, liaising with other departments within the organization to ensure that all expenditure is accounted for, identifying areas where the organization could save money; assessing business risks, and making recommendations on how to mitigate them.
They often answer to the chief executive officer (CEO) or the chief financial officer (CFO) with all having a shared goal to see that the affairs of the company/organization are well managed.
The average salary for financial controllers is $94,215 per year in the United States. However, salaries can be higher depending on factors such as experience, critical skills, certifications, company, and city of employment.
An economist is someone who studies and researches economic theory and principles. Economists typically work in the private or public sector, analyzing data and providing insights to help make informed strategic decisions. Some economists also provide policy recommendations to government officials.
The indeed.com website reports that the average salary for economists in the United States as of 2022 is $104,868.
However, salaries can vary based on factors such as location and experience. For example, San Jose is reported to be one of the highest-paying cities for economists, with salaries reaching up to $240,000. So if you’re looking to maximize your earnings potential as an economist, you’ll want to consider working in San Jose.
Of course, money isn’t everything when it comes to choosing a career. But it’s important to know what to expect in terms of compensation so you can make an informed decision about whether or not economics is the right field for you.
A compliance officer is a professional who helps organizations comply with applicable laws, regulations, and ethical standards. They work in a variety of industries and usually report to the head of their organization’s compliance department.
The average base salary for a compliance officer is $63,326 in the United States in 2022 according to Indeed.com. The top paying companies for this position are VF corporation, Genentech, and USAA with salaries up to $90K in Charlotte and New York for this position.
Investment bankers are typically professionals who work in the securities industry. They help companies and governments raise money by underwriting and selling securities.
The average base salary for an investment banker is $586,82, according to data collected by Indeed.com However, different banks pay their employees differently. Bank of America, UBS, and Selby Jennings are among the top-paying banks in the industry.
Bank of America pays its investment bankers an average base salary of $269,146. UBS pays its employees an average base salary of $145K per year. Selby Jennings pays its employees an average base salary of $169K per year.
Head of Finance
A finance head is someone who oversees the financial operations of a company or organization. They are responsible for ensuring that all financial transactions are carried out in a timely and accurate manner and that the company’s assets are properly managed.
The average salary for a finance head is $107,278 in the United States according to data on Indeed.com in 2023.
However, salaries can vary depending on the city or region where the job is located. In Chicago, for example, the average salary is $238K+, while in Henderson, Nevada it’s $234K+.
Wells Fargo pays its finance heads an average of $143,000+, while CozyKin pays an average of $113,000+, FABS is one of the highest-paying companies for this job role paying up to $378K+ per year.
A management accountant is someone who performs various financial-related tasks within an organization. These can include things like developing budget plans, preparing financial statements, tracking and analyzing expenditures, and more. Management accountants typically have a bachelor’s degree in accounting or a related field.
Management accountants are employed in a variety of industries, but the highest paying ones tend to be in the fields of Bayer Salary: $72K+ per year (indeed.com) and Printerpix salary of $67K+ for this position.
The highest paying cities for management accountants are Austin and New York. There is strong competition for jobs at these companies, so those who wish to pursue a career in management accounting should be sure to have a solid educational background, strong computer and financial skills, and excellent communication skills.
If you are interested in pursuing a career as a management accountant, there are a number of online resources that can help you get started.
For example, the American Institute of Certified Public Accountants (AICPA) offers professional development courses, information about various certification exams, and job search resources. The National Association of State Boards of Accountancy (NASBA) also provides information about education and licensure requirements, as well as job search resources.
Finally, the National Society of Management Accountants (NSMA) offers professional development resources, including courses and certification exams.
Certified Public Accountant
A Certified Public Accountant (CPA) is a professional who has been licensed by the state to provide accounting and financial services to businesses and individuals.
CPAs are highly skilled in financial tracking, analysis, and reporting. They often work with clients to manage their taxes, and prepare financial statements, and audited reports.
CPAs are one of the highest-paying professions in the United States, with an average salary of $83,382 per year.
The top city for CPAs is New York, where they can earn an average salary of $100K+. Other high-paying cities for CPAs include Kansas City ($96K), Chicago ($93K), and Los Angeles ($92K).
An asset manager is a professional who oversees the investment of assets on behalf of their clients. They are responsible for making sure that the money is invested in a way that will produce the best possible return for their clients. The asset manager will work with other professionals, such as financial planners and investment counselors, to make sure that the money is being properly managed.
The job of an asset manager is demanding and can be stressful at times. However, it can also be very rewarding. Asset managers who are successful in their field can make a great deal of money. In fact, many asset managers in the United States make more than $100,000 per year.
The cities with the highest-paid asset managers are New York City, San Francisco, Los Angeles, Chicago, and Houston. If you are interested in becoming an asset manager, it is a good idea to do some research on the job market in these cities.
More Jobs for Commerce Graduates
- Payroll Supervisor
- Credit Manager
- Accounts Payable manager
- Account receivable Manager
2 List Business Ideas for Commerce Graduates
This has become a really popular aspect of today’s business world. Commerce graduates are the backbone of today’s economic system. And this is why if you want to start your own business, there is no reason for you not to do so. To help you with that, we have listed some great business ideas for commerce graduates.
1. Start a business consulting firm: This is a great option for commerce graduates who have experience working in the corporate sector. You can use your knowledge and experience to help other businesses with their growth and development.
2. Start an accounting or tax preparation firm: If you have a background in accounting or tax, then this is one of the businesses that can provide you with great opportunities for growth. You can help small businesses in keeping their financial records and preparing them for tax filing.
3. Create an online marketplace for products: If you graduate from a commerce stream, then chances are, you already have some knowledge about how to run marketplaces such as eBay or Amazon. You can create a website that caters to buyers and sellers, both of which will be interested in your services.
4. Enter the mobile commerce business: Mobile commerce is really taking off right now and you should definitely check out the opportunities available here as well. A great option would be to start an app development company that develops apps for mobile commerce.
5. Become a marketing consultant: There are tons of different businesses that need assistance with their marketing efforts. You can leverage your skills in this area to create a consulting business for yourself and help other businesses increase their revenues by helping them with their marketing campaigns.