If you are a student, parent or guardian of a 12th class student who has given board exams in commerce this year you are probably confused. Spoilt with choices, you have to take an important career decision and choose between two major streams – BBA or BCOM.
In a country where career decisions are more a function of popularity rather than aptitude and interest, Prof Amit Goyal, Training Director, Institute of Banking & Finance, brings out a few important factors that must be carefully considered in making this choice.
Consideration 1: What do I want to become?
Very often courses are chosen on basis on what the neighbour’s son or a best friend is doing. It is important to note that every child is unique not only in terms of his aptitude and interest but also circumstances. Students must think about what “work” do they want to do after completing their education.
BBA or Bachelors in Business Administration is a course which provides an overview of business management. It focuses on improving professional skills of the student. It is ideal for someone who intends to pursue a good MBA at home or abroad or wants to join the family business immediately after graduation.
BCom or Bachelors in Commerce is a course which provides an in-depth knowledge of accounting, and financial management. It focuses on developing skills of monetary thinking and financial decision making. It is an ideal choice for a student who wants to pursue higher studies or seek employment in disciplines of finance, accounting or management with banks, financial services companies or corporate accounting after graduation.
Consideration 2: What subjects do I like studying?
Graduation is not just an academic pursuit but a bridge from academic to practical world. At this stage it is necessary to have an interest in the subjects and study them from the perspective of practical application rather than school-like mugging. Students must think about the subjects that they would like to study irrespective of their academic performance in those subjects in 11th and 12th.
BBA is a combination of general studies with a minimum of 6-8 management subjects and 2-3 accounting and finance subjects taught in 3 years. Some of these management subjects are management principles, marketing management, human resource management, etc.
BCom on the other hand is a course of atleast 8 subjects of accounting and finance with 1-2 management subjects taught over the entire curriculum. Some of these subjects are financial accounting, cost accounting, management accounting, taxation, etc.
Consideration 3: What are the choices of Higher Studies?
With the increasing competition higher studies after graduation have become a norm. A large number of students are seen pursuing PG courses or Professional courses after graduation. It is important to choose a degree which allows us to join our desired course after graduation.
The next progression after BBA degree is to follow it up with an MBA. Having studied so many management papers the student is ready to have a more detailed look at various functions of management.
With a BCom degree at graduation a student develops a strong understanding of accounting and finance which opens a plethora of higher study courses for him. Besides choosing traditional options like MCom, CA, CS, CWA these students may also go for new age courses like MBA, CFA, etc.
In a nutshell, students who want to make a career in corporate accounting, banking, financial service industry or want to pursue specialised studies after graduation level should opt for BComafter 10+2 to keep all these avenues open for them. However those who wish to join the family business immediately after graduation or are sure that they want to do an MBA may opt for BBA. Whatever they choose, should not be based on where they are getting the admission but on the considerations laid out above.
About The Author
Prof Amit Goyal is serving as the Training Director of Institute of Banking & Finance. IBF is a professional degree college that specialises in banking and finance domain. The institute has won many awards for best banking education. The institute offers a professional BCom Degree in Banking & Finance which enables the students to simultaneously pursue company secretary qualification from ICSI. More information about the institute can be obtained on its website www.tkwsibf.edu.in or facebook page www.facebook.com/tkwsibf