Above that is an MSc degree, a Master of Science. This is a postgraduate degree (you do it after graduating from your bachelors degree) usually lasting 1 or 2 years depending on if it is a taught degree with mostly lectures and coursework or a research degree which does not usually have many lectures. Some institutions offer 4 year MSc programmes where you start on a BSc and if you do well in that you go straight into an MSc for your 4th year.

Above MSc is a PhD. This is called a doctorate. You become a doctor in your specialised subject (not medicine in this case, that is a different degree entirely). In the UK, doctors who have a lot of experience and published papers can become professors by applying for a professorship at a university.

Hope this helps.

RE:
What is a Bsc degree?
What is a Bsc degree and whats above that

Professor?

or Bachelor of Science in Commerce?