If you are in search of a Master’s degree that leads to specialized positions in public and private sector, and has an emphasis on subjects such as commerce, accountancy, management and other economics-related subjects, then Master’s of Commerce is the ideal course for you.
About Masters of Commerce
A Master’s in Commerce, usually shortened as M.Com, is a full-time study course for two-years, that includes theory, thesis and even research. An M.Com degree, unlike the generalized MBA and even some professional courses in commerce, is a specialization degree, as it emphasises on theoretical input. Therefore, if your interest lies in building a career in financial services, marketing management, project management or business consulting, then you must pursue an M.Com. Master’s in Commerce is offered in specialized areas of Business, Accounting, Economics,etc.
Other subjects included in the M.Com package abroad are-
- Tourism & Hospitality
- International Law
- Sport Business Management
Studying Masters of Commerce Abroad
To study M.Com abroad, you need to have-
- A graduate degree in any subject of commerce, preferably a Bachelor’s degree in Commerce, so much so that you have enough foundation for a Masters course.
- IELTS/TOEFL test reports
- Course and living expenditure and related funds
- Visa and later on, a work permit
- Health Insurance
Why Study M.Com Abroad?
A Master’s of Commerce course from a recognized course abroad is essential if you wish to obtain the following-
- Quality Education
- Cost Effective Education
- Post-Graduation Work Permit
- Permanent Residency Options
- Job Opportunities
- Free Healthcare Services
- Free Childcare Services
- Immigrant-friendly University and Environment
Top Universities for M.Com
The list of the top commerce and finance colleges in the world is as follows-
- Harvard University, USA
- MIT, USA
- Stanford University, USA
- Yale University, USA
- Oxford University, USA
- University of Toronto, Canada
- RMIT University, Australia
- University of Sydney, Australia
- Australian Catholic University, Australia
Top M.Com courses
Below is a list of the top M.Com courses you must apply for when planning to study abroad.
- Master’s of Commerce
- Master’s of Commerce in Commerce and Economics
- Master’s of Commerce in Business
- Master’s of Commerce in Accounting and Finance
- Master’s of Commerce in Finance
How to Apply for M.Com Abroad?
The application procedure for most of the countries abroad, especially for Master’s courses is more or less the same.
- Apply Online: You can apply online, directly for the university study programme.
- Fill up the Application Form: Downloading the application form and submitting all required documents is one of the key steps of any type of university application.
- Upload the Documents: All education certificates and other details need to be uploaded before submitting the application form.
- Pay the Application Fee: For most university, there is an application fee that is levied on each application filed.
- Visa Application: Once you receive your Letter of Acceptance and your admission gets confirmed, then you need to head on to apply for your study permit in Canada.
Fee for M.Com Abroad
An estimated fee for any course abroad depends upon the course duration, university and tuition fee, city and living expenses, accommodation, stationery, internet, etc.
For example, if you are willing to pursue a Master’s of Commerce in Accounting, in say New Zealand, then the cost per year would be around Rs 21.71 Lakhs. This would include,
- Tuition Fee- NZ$ 35,372
- Dorm and Food- NZ$8,172
- Insurance- NZ$ 620
- Transportation- NZ$ 1,320
- Student Services- NZ$ 813
- Student Rec Centre- NZ$ 314
However, for countries such as USA, UK,Canada, etc, it would be higher.
Scholarships for M.Com Abroad
A scholarship is a grant or a financial support a student’s education, generally based on academic achievements and records.It is a kind of encouragement as well as an aid for students. In fact, most of the scholarship-seekers are international students.
Some scholarships that work great as financial aid for studies abroad are-
- Avvo Scholarship Program, USA
- Berkeley College International Student Scholarships, USA
- Cappex American Scholarships, USA
- Federal Student Aid Types,USA
- FINCAD Women in Finance Scholarship, CA
- Canadian Queen Elizabeth II Diamond Jubilee Scholarship, CA
- IDRC Research Awards, CA
- Australia Awards Scholarships, AUS
- Endeavour Postgraduate Scholarship Awards, AUS
- International Postgraduate Research Scholarships (IPRS), AUS
How to Apply for Scholarships for Master’s of Commerce Abroad?
- File an Application- You will need to file a scholarship application for each and every scholarship you wish to obtain. For that, go to the registration website for each scholarship and register. The application must be filled without errors, should make a great impression on the reader and should include well-thought of references.
- Upload the Documents- You will also be required to send in your academic record in the form of transcriptions, study plans or the course you are applying to and the careers you wish to pursue and why, list of references, financial and funding documents.
- Attach the Scholarship Essay- This essay should weave out a story from your life and list out what and why makes your eligible and suitable for the scholarship.
- Submit the Application- Once you are done with the above mentioned steps, you just need to submit the application form and wait for the selected students’ list to come out.
Documents for Scholarship Application
You need submit the following documents along with your scholarship application.
- Proof of Nationality- Must be a citizen of India ( for Indian students only), and should have a valid passport.
- Education- For some scholarships, the student should have attended secondary school in India and should have a confirmation of admission offer as an undergraduate/ postgraduate student in an abroad university..
- Basis of Scholarship- In most cases, the student should be eligible for Need-based Financial Aid.
- Worth- The student must have an excellent academic record, so as to be worthy of being selected for the scholarship
- Resume- A resume that includes all educational and work details of the applicant.
- References- A list of references who vouch for your credibility.
- Scholarship Essay- An essay more like a statement of purpose that talks about your journey and how you are worthy of the scholarship and how you would make use of the scholarship.
How to Apply for Study Visa for M.Com Abroad?
If your study abroad destination is USA, then the visa process is as follows-
- Apply for Student and Exchange Visitor Program (SEVP) university and get approved for admission.
- Obtain the I-20 Form from the university/college, under the SEVP.
- Apply for SEVI, fill the form and pay the fees.
- Login on to the US Visa Application site. Fill in the form.
- Apply for the Student Study Visa with the required documents at the US Consulate Office or Embassy.
- Book the Appointment and appear for the same at the Visa centre.
- Register with your fingerprints and photograph on the Appointment Day.
- Appear for the Interview along with the needed documents.
However, for countries such as Canada, Australia, UK, New Zealand, etc for I-20 and D-160 are not required. However, the other aspects of the visa process remain the same. The documents required for the visa process are as follows-
- Valid Passport
- Recent Photographs
- Payment of $160 Visa Application Fees.
- Proof of Visa Application Fees
- I-20 Form or the Certificate of Eligibility for Nonimmigrant Student Status form
- DS-160 Form or the Nonimmigrant Visa Electronic Application form
- For male candidates, in the age group of 16-45 years, DS-157 form needs to be filled.
The Visa Interview Day for Master’s of Commerce Abroad
The interview tests your readiness for the course and eligibility for the F-1 visa. it's a mixture of personal further as career-motivated questions about your academic qualifications, purpose for course choice, career plans, finances and support, etc.
Keep in mind that if the documents submitted are found to the false or tempered with, it straightaway results in cancellation of application. additionally, make certain you answer the question asked. Giving haywire answers or in a casual or unacceptable tone or gestures can lead you to a denial. On the interview day, you have to carry all key documents.
- Your passport
- DS-160 form confirmation page that has a 10 digit barcode number on it.
- Visa payment receipt
- I-20 Form
- Educational Documents
- Financial documents
Jobs after M.Com Abroad
Master’s of Commerce graduates can pursue jobs in the following domains, which are-
- Human resource management
- Marketing management
- Brand and product management
- Business Policy Adviser
- Corporate Advisor
- Financial manager
- Customer Acquisition
- Chief Financial Officer
- Sales management
Major employers for M.Com graduates around the world are-
- Tata Consultancy Private Limited
- Ernst & Young
In fact, if you wish to study further, then you can go ahead in the following fields and subjects.
- Master of Business Administration
- Chartered Accountant
- Chartered Financial Analyst
- B. Ed/ Teaching
- LLB/ Law Studies
- Computer Science and Technology
- M. Phil courses
- PhD/ research studies and thesis.
Thus, if you wish to make a career in commerce and economics, learning all the theoretical and practical applications of the same, then Master’s of Commerce from a reputed university abroad, can help you achieve your dreams.