If you are aiming for Banking, Financial Services and Insurance (BFSI) careers, this guide is for you. At SMS Varanasi, we offer both the Bachelor of Commerce (B.Com) program and the Bachelor of Commerce (Honours) or B.Com (Hons) degree program. Both of them are offered in affiliation with Mahatma Gandhi Kashi Vidyapith (MGKVP) and are three-year courses.

The difference in fee is also nominal. While B.Com costs you Rs 27,500 per semester, B.Com (Hons) costs you Rs 32,500 per semester. And there are several scholarships and financial aid options available to sweeten the deal for deserving candidates.

The big question remains which of these should you choose if you aspire to join BFSI careers? Let’s analyse both programs in detail:

B.Com vs B.Com (Hons): Comparing the Syllabi

Both B.Com and B.Com (Hons) at SMS Varanasi provide a strong foundation in commerce. They share a significant number of core courses, such as:

• Business Organisation, 
• Business Statistics, 
• Business Management, 
• Financial Accounting, 
• Company Law, 
• Cost Accounting, 
• Income Tax, 
• Goods and Services Tax, 
• Corporate Accounting, and 
• Auditing. 

Hence, irrespective of which Bachelor of Commerce program you go for, you can rest assured of a well-rounded understanding of core business principles.

The real difference between these two programs lies in their depth and focus:

• B.Com: This program offers a broader perspective on commerce. You’ll have the flexibility to explore various specialisations through a wider range of elective subjects. Electives offered at SMS Varanasi include:
  • Business Communication, 
  • Business Economics, 
  • Computer Fundamentals, 
  • International Business, 
  • Marketing & Salesmanship, and 
  • Data Analysis. 

If you choose to join this course, you can choose electives relevant to your specific interests within the vast BFSI sector.

• B.Com (Hons):  The Honours program allows you to dive deep into core commerce subjects. You can choose to major in:
  • Marketing & Sales Management, 
  • Business Law, 
  • Banking & Insurance, 
  • Human Resource Management, and 
  • Financial Management. 

If you go for this program, you straightaway start building your foundation in your chosen field and prepare for specialised roles within the BFSI industry.

Here’s a table summarising the key differences:

Feature	B.Com	B.Com (Hons)
Focus	Broader foundation in commerce	Deeper understanding of core subjects
Electives	Wider range for specialisations	Fewer electives, focus on major
Project	Summer training/survey project	Dedicated research project
Specialisation Potential	Flexible based on elective choices	Focused on chosen major

Which Bachelor of Commerce Program is Right for You?

We will recommend you apply for B.Com if you want a broader understanding of commerce and the flexibility to explore different areas within BFSI. That way, you will have time to decide whether you want to go for general banking, marketing, or customer service roles later.

But if you are sure about a specific area of interest within BFSI (such as investment banking, insurance underwriting, or financial analysis), B.Com (Hons) might be a better course for you. At SMS Varanasi, we offer you a deeper understanding of various areas. Also, the Honours program focuses on strong research and analytical skills.

Why B.Com (Hons) Might Be a Better Choice for BFSI Careers?

While both B.Com and B.Com (Hons) can lead to successful careers in BFSI, here’s why B.Com (Hons) might offer an edge:

• Deeper Subject Knowledge:  A B.Com (Hons) allows you to specialise in a major relevant to your BFSI career goals. This in-depth knowledge gives you an edge when you apply for specialised roles within the industry after graduation.
• Research and Analytical Skills:  The B.Com (Hons) program incorporates a Research Methodology course that the B.Com program does not offer. This course aims to hone your critical thinking and analytical abilities. Both these skills are essential for analysing financial data, understanding market trends, and making informed decisions – all crucial for success in BFSI careers.
• Project Experience:  The B.Com (Hons) program has a dedicated research project where you can choose to delve deeper into a specific area of BFSI. This experience helps you develop research skills, showcase problem-solving abilities, and potentially impress potential employers.

Conclusion

Both B.Com and B.Com (Hons) at SMS Varanasi offer excellent pathways to a rewarding career in BFSI. Consider your interests, career goals, and learning style when making your decision. 

If you’re set on a specific BFSI career path and want a head start with in-depth knowledge and focused skills, B.Com (Hons) could be the right choice. However, a B.Com degree with relevant certifications or a specialised postgraduate degree like an MBA in Finance can also pave the way for success in the BFSI sector.