One of the most popular master's degrees in India and across the globe is the Master of Business Administration (MBA). This degree first came in the early 20th century from the Harvard Graduate School of Business Administration and helped companies analyze and strategize how to run their business efficiently. MBA was the course that helped students understand, gain knowledge, and familiarize themselves with the different areas of business where companies need someone to hold strong management.
Over the years, there have been various upgrades in MBA with multiple specializations. In today's world, online education is prevalent, which has allowed Business Management certifications online for students. These online business management certifications provide students with the best quality management training to make a mark in the industry. This article will provide you with a comprehensive idea about jobs after MBA and salaries in India.
Future of MBA in India
The future of MBA graduates in India is very promising. With the increasing demand for skilled professionals in the global market, the number of students pursuing an MBA degree is increasing. This is because the degree can provide students with the opportunity to gain knowledge and experience in various areas, from business management to finance, marketing, and more, thus resulting in some of the highest-paying jobs for MBA graduates.
In addition, an MBA degree offers a great chance to network with industry professionals and develop the skills needed to succeed in a competitive market. With a growing economy, the number of opportunities available to those with an MBA will only continue to increase in India.
Factors Affecting MBA Salary in India
When it comes to MBA salary in India, several factors can influence the amount a person can earn. The highest-paying jobs after MBA may vary based on certain attributes. These include the type of company they work for, location, experience, skills, and certifications they may have.
For example, those that work for large multinational corporations may command higher salaries than those employed by smaller businesses. Also, MBA salary packages can be affected by the job location, with some cities offering higher salaries than others.
Location:
The location of the job can have a big impact on the salary of an MBA graduate. Jobs in larger cities and metropolitan areas tend to pay higher salaries than those in smaller towns. This is because the cost of living is usually higher in larger cities, so companies are willing to pay more to get qualified professionals. Additionally, larger cities also tend to have more job opportunities, so it is easier to find employment.
Company:
The company that an MBA graduate works for can also have a big impact on their salary. Companies that are well-known and have a strong brand presence can often pay higher salaries than smaller, lesser-known companies. Additionally, those that work for multinational corporations may also earn higher salaries than those that work for smaller businesses.
Some of the highest-paying post-MBA jobs offer salaries as follows:
Tata Consultancy Services Limited - 330k to 2M
Accenture - 341k to 23M
EY (Ernst & Young) - 386k to 2M
HDFC Bank Pvt Ltd 295k to 2M
Infosys Limited 2544k to 22M
Experience:
Experience is another factor that can influence the salary of an MBA graduate. Those that have more experience in their field are more likely to be able to negotiate higher salaries than those that are just starting out. This is because employers tend to value experienced professionals more highly than those just starting.
Skills:
The specific skills that an MBA graduate has can also impact their salary. For example, those that have skills in areas such as data analysis, problem-solving, or project management skills with help of a certified PMP trainer may be able to negotiate higher salaries than those that do not. Additionally, those with strong leadership skills may also be able to command higher salaries.
Certifications:
Finally, certifications can also impact the salary of an MBA graduate. Those with certifications in areas such as financial management, project management, or data analysis may be able to negotiate higher salaries than those without. This is because employers tend to value certifications as proof of a person's skills and expertise.
Highest Paying Jobs for MBA Graduates in India
1. Investment Banker: Raising money in capital markets and providing financial advice for private companies and the government. Mergers, Acquisitions, and staying informed about great investment options are a few of the expertise of Investment Bankers. The average starting salary of an investment banker is 995k per annum.
2. Project Planner: A project planner must be involved in all aspects of a project. From planning and strategizing to making financial projections and building a team, the project manager’s hands are filled with completing and properly executing a project. The average starting salary of a Project planner is 1545k per annum.
3. Management Consultant: Business Consulting and Strategy Consulting are two of the most demanded jobs for MBA graduates. Forecasting trends, analyzing numbers, and pitching to clients are the core of these jobs. The average starting salary of a Business Consultant or Strategy Consultant is Rs. 1172k per annum.
4. Business Development Manager: To assist in the growth and expansion of a business, planning and strategizing are the responsibility of a business development manager. Communication and analytical skills are essential for this job. The average starting salary of a business development manager is 600k per annum.
5. Marketing Manager: One of the most popular areas of work today is Marketing; understanding consumer behavior, market trends, expectations, and concepts of marketing campaigns are essentially required from a Marketing Manager. The average starting salary of a Marketing Manager is Rs. 701k per annum. Get online e-mail Marketing training and further enhance your marketing skills.
6. Banking: Financial advice is the main function of a banker, especially when it comes to saving, investing, borrowing, and securities. By providing financial advice and knowledge, they help customers solve their financial problems while increasing profits for their organizations.
7. Entrepreneurship: Entrepreneurs see opportunities for starting and running their businesses. Regardless of the industry or service area, the business could be in any sector. To raise money to finance your company, you must develop a business plan.
8. International Business: Developing marketing and sales strategies that address the needs and interests of prospective global clients or partners. Establishing and implementing a global business plan. Dealing with global partners to negotiate and approve contracts.
9. Healthcare Management: Hospitals and nursing homes have managers who manage the quality of care and budgeting to ensure the highest level of care. There is no doubt that the work done by healthcare managers in these institutions directly impacts the quality of care that many patients receive because these institutions provide healthcare to many people.
10. Retail Management: Retail managers oversee sales, staff, inventory, and resources for retail outlets on a daily basis. An important aspect of retail management is responsible for ensuring a store runs smoothly.
11. Business Analytics: Developing strategies for optimizing business processes and conducting ongoing reviews. Maintaining a current understanding of IT and process advancements to streamline and modernize your systems. Sharing ideas and findings through meetings and presentations. Analyzing requirements.
12. Data Analytics: Analyzing data sets helps answer questions or solve problems by collecting, cleaning, and interpreting them. There are a variety of industries in which they work, such as business, medicine, finance, government, science, and criminal justice.
13. Private Equity: Potential target and portfolio companies require financial analyses by accountants. Investing in a company with a business they are unfamiliar with may require consulting expertise from a business consultant.
Job Roles for MBA Graduates and Salary
Detailed List of Highest Paying Jobs After MBA in India:
Job Roles | Average Annual Salary in India |
Human Resources Executive | 7.0 Lakhs |
Training & Development Manager | 7.4 Lakhs |
HR Entrepreneur | 4.0 Lakhs |
Director of Staff | 22.0 Lakhs |
Placement Manager | 4.4 Lakhs |
Training and Relations Manager | 3.5 Lakhs |
Organizational Consultant | 7.3 Lakhs |
HR Analytics | 4.8 Lakhs |
Accounting Professional | 5.4 Lakhs |
Financial Analyst | 4.0 Lakhs |
Treasury Manager, Investment and Banking Associate | 8.6 Lakhs |
Financial Risk Manager | 9.0 Lakhs |
Investment and Insurance Advisor | 4.0 Lakhs |
Investment Banker | 4.7 Lakhs |
Financial and Investment Consultant | 14.0 Lakhs |
Research Analyst / Senior Analyst | 5.5 Lakhs |
Sales Manager | 5.0 Lakhs |
Business Development Manager | 5.3 Lakhs |
Marketing Analytics | 5.6 Lakhs |
Digital Marketing Manager | 7.2 Lakhs |
Project Manager | 14.5 Lakhs |
Business Development Manager/Executive | 3.0 Lakhs |
Marketing Manager | 10.0 Lakhs |
Corporate Strategy Manager | 20.0 Lakhs |
Analytics Manager | 20.2 Lakhs |
System Manager | 12.9 Lakhs |
Data Processing Manager | 12.0 Lakhs |
Business Analyst | 7.0 Lakhs |
Business Analyst Industry Expert | 15.0 Lakhs |
Business Analyst Project Manager | 12.8 Lakhs |
Data Analyst | 4.3 Lakhs |
Data Scientist | 10.5 Lakhs |
Predictive Modeller | 4.8 Lakhs |
Qualitative Analyst | 3.5 Lakhs |
MBA Specializations
The various areas of an MBA are Accounting, Applied Statistics, Business Law, Enterprise Management, Finance, Human Resources, Logistics, Marketing, Operation Management, and Supply-Chain Management. There are average and highest salary statistics for each area. For example, there is a difference between the highest salary of MBA finance and marketing. Students should be aware of the highest salary after MBA.
Each area of MBA has successfully attracted students and turned them into efficient employees demanded by corporates for their talent and knowledge in management. Jobs for students post-MBA are given based on their specialization. That is why jobs for which hiring is done and the allocated salary differ.
The compensation offered to an individual is directly proportional to his qualifications and experience. An individual takes time to build knowledge, but a suitable educational qualification would help get a good income job. An MBA is one of those qualifications that ensure a good salary job. It is essential to know what jobs are perceived after MBA and how much salary they offer if we want to know the highest paying jobs for MBA graduates in India. If you want to improve your QM skills quickly, kindly check out the best Quality Management training.
One of India's most well-known management entrance exams for aspirants is CAT, which recently recorded applicants over 2 million. These applicants hope to bag a good institute for their MBA. There are numerous institutes in India to perceive MBA.
Aspirants must get into an excellent institute to ensure an apt job with a good salary package. Jobs in India post-MBA and the pay they offer are based on the area of MBA, institute for MBA, and other factors. So that is why a few MBA areas are more in demand among the Indian audience.
1. MBA in Accounting
Accounting is a crucial area in business, and employees who can manage it efficiently are essential, so an employee with MBA in accounting comes in handy. An individual with MBA in Accounting can get jobs such as Cash Manager, Manager consultant, Investment Banking Associate, Credit Manager, and Corporate Controller. The average salary of an MBA in Accounting graduate starts from Rs. 400k per annum.
2. MBA in Business Law
Business Law helps corporates protect their rights, establish general standards, resolve disputes, and maintain order; it helps maintain healthy relations with other businesses, government, and customers. Individuals with an MBA in Business Law can get jobs as Legal Managers, Legal Advisors, Assistant Managers, and Corporate Legal heads. The average salary of an MBA in Business Law graduate starts from Rs. 600k per annum.
3. MBA in Enterprise Management
Enterprise Management acts as a central command center; it automizes the organization and makes it convenient to prepare reports and make decisions. An individual with MBA in Enterprise Management can get jobs such as Business Management Consultant, Business Development Consultant, Business Manager, or Business City Head. The average salary of an MBA in Enterprise Management graduate starts from Rs. 550k per annum.
4. MBA in Finance
Finance is one of the essential elements of a business; it helps a business understand just how much budget could be designated to each department, how much the company can pay for products, and the situation of future flow of money. An individual with MBA in Finance can get jobs such as Corporate Finance, Wealth and Portfolio Management, Finance Research Analyst, Financial Consulting, Merchant Banking, Budgeting & Forecasting. The average salary of an MBA in Finance graduate starts from Rs. 280k per annum.
5. MBA in Human Resources
Human Resources is devised to manage people in an organization; responsibilities such as staffing, employee compensation, benefits, and work designation come under this area. An individual with MBA in Human Resources can get jobs such as Human Resources Manager, Human Resources Consultant, Employee Relations Manager, or Head of employee experience and communication. The average salary of an MBA in Human Resources graduate starts from Rs. 642k per annum.
6. MBA in Marketing
Marketing is the element that finds the perfect set of consumers for a company’s products and uses various means to attract those consumers to those products and services. An individual with MBA in Marketing can get jobs such as Business Analyst, Competitive Marketing, Analytical Marketing, Brand Manager, Media Planner, and Head of Corporate Communication. The average salary of an MBA in logistics graduate starts from Rs. 290k per annum. Check Pay Per Click Advertising and leverage search marketing to find the right audience.
7. MBA in Operation Management
Operation Management helps control the production process and business operations in the most efficient manner possible. An individual with MBA in Operation Management can get jobs such as Operations Manager, Production Analyst, Inventory Manager, Schedule Coordinator, and Quality analyst. The average salary of an MBA in Operation Management graduate starts from Rs. 350k per annum.
8. MBA in Supply-chain Management
Supply-chain Management Reduces operating costs, safeguards raw material supply, improves cash flow, and betters inventory management. An individual with MBA in Supply-chain Management can get jobs such as Industrial Analyst, Project Manager, Transportation Director, Supply chain consultant, and Procurement Analyst. The average salary of an MBA in logistics graduate starts from Rs. 700k per annum.
Students get help in learning various skills that will help them do better in the future, such as online e-mail marketing training, pay-per-click, and risk management certification. Students get a significant boost in their careers with the help of business management certifications online.
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Conclusion
Although there are many job options for MBA graduates, the increase in the number of students has raised the hiring of such candidates in the corporate sector. This has also increased the competition among students, making it essential for them to get their MBAs from prestige institutes. Students must have sufficient information about high-paying jobs post-MBA if they want to bag them.
There is a need for an increase in the number of job positions for MBA graduates in India, as these students have the potential to grow the nation and lead it toward economic prosperity. You can earn Risk Management certification to start your learning process. In this course, you will learn about the domain and get hands-on knowledge of different concepts.
