Master of Business Administration is one of the most popular postgraduate programs pursued by most students in India. Students also opt for this course for the perks and the salary. The article below throws light upon factors such as the average salary of an MBA in India, executive MBA average salary in India, and many questions are resolved in the article below.
The Master of Business Administration has evolved in recent years to meet up the requirements of modern world management and business solutions.
The MBA graduates are in high demand across the different sectors; the MBA graduates are mostly preferred when any company undergoes recruitment, because of skills and ability that the MBA graduates have developed throughout the program.
The trend of preferring MBA graduates has been increasing over the years. The companies prefer MBA graduates for the skills, abilities, they exhibit, and the critical thinking and forming up of solutions whenever a problem arises, are the primary skills that the MBA graduates should develop.
- Average Salary of An MBA In India Based on Specialization
- Average MBA Salary offered by top colleges in India
- Average Salary of an MBA based on Job Roles
- Why Most Companies prefer MBA Graduates
Average Salary of An MBA In India Based on Specialization
Let's see how the MBA salary in India varies accordingly with the MBA specializations
MBA in International Business
An MBA in International Business can open up significant pathways in India and Abroad. This course gives MBA students an edge as the course familiarises you with global market demands and business trends. According to payscale, an average MBA in International business candidate salary is Rs. 7.88 LPA.
MBA in Operations Management
Graduates with specialization in Operations Management are usually offered jobs in product/service based sectors that are logistics, Hospitality, Transportation, Manufacturing, Management Consulting, etc. The average salary of an MBA in Operations Management is around INR 8.02 LPA.
MBA Banking and Finance
The MBA Finance Graduates are offered lucrative jobs in various sectors like Corporate Finance, Credit Risk Management, Corporate Banking, Hedge Fund Management, Private Equity, Treasury, Sales, and Trading.
The average salary for MBA in Banking and Finance in India is Rs. 6.75 LPA. The salary increases with growing experience and knowledge.
MBA in Human Resources
With recent developments, HR professionals' job has gained increasing traction across all sectors of the industry. Hence, HR Management professionals can find a plethora of opportunities in IT companies, retail companies, law firms, advertising firms, media houses, etc.
MBA HR candidates earn around INR. 6.03 LPA The average yearly salary for an MBA in Human Resources is around INR 7.56 LPA and Senior HR Manager's salary is close to INR 10 LPA.
MBA in Marketing
MBA in Marketing graduates are the most preferred and popular among the companies; these graduates are offered in sectors like Competitive Marketing, Business Marketing, Online Marketing, Analytical Marketing, Customer Relationship Marketing, etc. According to payscale, an MBA in Marketing graduate's average salary is around INR 7.52 LPA.
Average MBA Salary offered by top colleges in India
The table below listed out the top MBA colleges where the MBA graduates have offered lucrative salaries. Check out the list for the average pay packages offered to MBA graduates in India.
|Institutes/Colleges||Average Salary (INR)||Recruiting Companies|
|IIM Indore||15.67 LPA||CitiBank, ANZ Bank, ICICI Bank, Yes Bank, Tata Capital Axis Bank, Accenture, Capgemini, Wipro, HCL.|
|IIM Shillong||14 LPA||Bank of America, Max Life, JP Morgan, Dabur, Johnson & Johnson, Raymond, Whirlpool.|
|IIM Ranchi||15.14 LPA||Amazon, Synergy Consulting, PPG Asian Paints, Tata Steel, Tata Motors, Wipro technologies, Airtel|
|IIM Tiruchirapalli||13.01||Casio, CEDAR, Cipla, Cognizant, Deloitte, Goldman Sachs, Microsoft, Raymond, Philips.|
|IIM Udaipur||12.91 LPA||Airtel, Amazon, Make My Trip, Accenture, Capgemini, Asian Paints, Johnson & Johnson.|
|IIM Raipur||12.51 LPA||Amazon, Accenture, Boston Consulting Group, JP Morgan, TAS, Airtel, Microsoft.|
|IIFT Delhi||18.01 LPA||Nestle, Pepsico, Coca Cola, Directi, HCL, TAS, Mahindra & Mahindra.|
|FMS Delhi||20.5 LPA||Deloitte, Boston Consulting, Accenture Strategy, Aditya Birla Group, Citibank, HSBC, ICICI Bank.|
|NMIMS Mumbai||17.09 LPA||Casio, CEDAR, Cipla, Cognizant, Deloitte, Goldman Sachs, Microsoft, Raymond, Philips.|
Average Salary of an MBA based on Job Roles
- Project Manager
- Business Consulting
- Strategy Consulting
- HR Manager
- Marketing Manager
- Business Development Manager
- Investment Banker
- Operations Manager
- Business Analyst (IT)
- Senior Business Analyst
- Financial Analyst, SAP Consultant
- Marketing Executive.
The graduates can qualify as Project Manager after the completion of MBA under the Project Management or Operations Management stream. It holds the highest responsibility of taking care of an entire project, the product involved, and the employees' work. The job roles require a person who can bestow good strategies to solve the projects' problem. The project should be completed successfully within the time limit and the resources provided. The average salary is INR 12 LPA.
Almost all the companies employ HR Managers as human resource is the backbone of any organization, and one should value it the most. These managers' prime duty is to deal with the company's employees and tend to their needs. The job description of the managers includes employing efficient workers and deciding the pay. They are also supposed to organize training programs and engage specific provisions to benefit the workers. The average salary is INR 6.2 LPA.
Marketing teams are crucial for any company to create awareness about the products and offers available in their company. The marketing team takes the organization to the stage with other competitors. The Marketing Manager is the one to organize the work, and the team does the campaigns. The manager is supposed to bring up new ideas to market their product with innovative campaigns. Marketing Managers are people with creative minds. The average salary is INR 6.9 LPA.
Senior Business Analyst
The senior officials in the management departments of any business should sustain their reputation or create particular importance among the clients. These senior analysts analyze the organization's work in general and provide innovative ideas to take the business to the next level. They are also responsible for undertaking the competitor analysis and stay a step ahead of them. The average pay is around INR 9.8 LPA.
The top companies recruiting MBA graduates in India Accenture, Infosys Limited, EY (Ernst & Young), HDFC Bank Pvt Ltd, HCL Technologies Ltd, Amazon.com Inc, Wipro Technologies Ltd, Genpact, Cognizant Technology Solutions Corp, and Tech Mahindra Ltd
A business consultant is an individual who looks into the advising side of a firm/organization based on the needs. A business consultant is involved in implementation and planning on different businesses. Business consultants' primary role is to develop a business plan and provide solutions to business owners. The consultants are more specific on developing other market trends for the organization. Business Consultants also specialize in a lot of research and analyzing procedures.
Financial Analysts are specialists who work on different sets of securities and bonds. Financial analysts possess analytical skills for the analysis and research work they do. Financial analysts evaluate and compare the quality of securities in a given industry or firm. After considering, they provide advice based on the research, if the security is to be sold, bought, or put on hold considering the market and trends. The task is extremely analytical, and a lot of research and involved in the process, but it is rewarding at the same time.
Why Most Companies prefer MBA Graduates?
Master of Business Administration is a professional postgraduate degree in business administration and management. The MBA course has a duration of 2 years, with four semesters.
Subjects like Management Theory and Practice, Leadership and Entrepreneurship, Financial Markets, Instruments, and Business & Corporations Law are part of the MBA curriculum. Accreditation bodies and type of affiliation, specifically for MBA courses, quality of education and ensure consistency
The course helps build various management skills that are required in the corporate world. MBA programs impart a strong theoretical foundation in business concepts. MBA programs provide practical opportunities through internships, group assignments, and individual projects for self improvisation. MBA programs help build hard-skills in the areas of management and leadership. And also the MBA graduates have a vast range of soft-skills like communication, motivation, and negotiation.
Due to the reasons mentioned above, you can easily understand why MBA graduates are the most preferred by companies from different sectors offering lucrative job opportunities.
MBA is the most preferred program by students in India, and also MBA graduates are most preferred by companies whenever the companies go for the recruitment process. MBA graduates have fame built up in recent developments, which may be due to the skills and management and business knowledge.
MBA programs offer students the highest paid jobs in India; these jobs are provided to those MBA students who wish to keep on the process of updating themselves with the knowledge, skills that are much required in the industry.
So make sure to keep updating yourself and enhancing those skills that build your career. As it is mostly observed in the corporate world, your skills and knowledge in the field of expertise will decide your salary package.