I must say, it primarily depends upon your interest and the field you want to choose for your future career. If you see your future in the banking sector and you have a passion to join some company which deals primarily with accounts, I would recommend you to do M.Com. But if you see your career in the business world, MBA is a much better and much more popular degree in the market.

I, personally, feel that M.Com limits your opportunities. After doing M.Com you have to have a job only in the banking sector or at the most with some private auditing firm. You cannot enter into the business world because there are more competent people than you who have got more relevant degrees. Let me clear my point through an example; you have applied for the job of a finance officer in a multinational company and you are called for an interview. As you go there, you come to know that the other people sitting with you are mostly MBAs with a major in finance and a few of them have done masters in Finance. What do you think about your chances of getting the job? I think your chances are minimal because an employer would prefer a person who has a major in finance and simultaneously he has got good knowledge about the business world in general.

So, I think, if you are not passionate about joining only the banking sector, you should do an MBA with a major in finance.