According to the recent survey of business schools in India, the average annual salary for MBA in India has increased by over 30 % to Rs 3.72 lakh per annum (Source: Glassdoor).
MBAs are being hired in growing numbers in India as multinationals seek to tap into the country’s talent pool. Demand is expected to rise with an expansion in higher education, the creation of more graduate and postgraduate courses and a shift to a more flexible education system.
The salary for MBA in India has seen a steady increase in the last few years. But what is the current salary for a MBA? And how does it compare to other fields? Let’s find out.
Table of contents
- The Job Market in India
- Salary for MBA in India according to specialization
- Career scope after MBA in India
The Job Market in India
There is no denying the fact that India is one of the largest economies in the world. The Indian economy, in particular, is experiencing phenomenal growth.
This is a great opportunity for MBAs who want to find their first jobs after graduation. It is a chance to learn and get experience in the field of business management. The biggest advantage of an MBA course is the exposure that it gives to the student to learn more about the business world.
The main reason that people are attracted to an MBA course is because of the many career opportunities that they can explore and the salary for MBA in India is increasing with every year passing.
If you want to take up a job as a finance professional, you can go for the finance stream. You can go for the marketing stream if you want to go into the corporate world. If you like to enter the government sector, you can also do an executive program if you want to. You can do a business management program if you want to be in the business world. If you are interested in an international business management program, you can enroll in the International Business program.
You can also try to become an entrepreneur. Start your own business. As an entrepreneur, you will be able to have the freedom to manage your own time and choose your own hours. This is the best way to learn the basics of business.
Salary for MBA in India according to specialization
1. MBA in Finance
After completing an MBA in Finance, one can find a job in the following sectors –Corporate Finance
- Corporate Banking
- Credit Risk Management
- Asset Management
- Hedge Fund Management
- Private Equity
- Sales and Trading
The average salary for MBA Finance in India is Rs. 678,000 per annum. With growing experience and knowledge the salary also increases.
TCS, ICICI Banks, EY, HDFC Bank, Accenture, are the top recruiters for MBA Finance candidates. They also provide best salary for MBA in India.
2. MBA in Business Analytics
MBA graduates in Business Analytics can find jobs in various sectors like Information Technology, Healthcare, Financial Institutions, E-Commerce, etc.
Thanks to the growing importance of analytics in business, the average salary of MBA Business Analytics professionals in India is Rs. 11 lakhs p.a. While freshers can make around Rs. 5 – 8 lakh p.a., experienced professionals in the field can earn between Rs. 10 – 18 lakhs p.a. Those at a senior level can draw a salary between Rs. 30 – 55 lakhs annually.
3. MBA in Marketing
After completing an MBA in Marketing Management, one can find a job in the following sectors –
- Retailing Management
- Competitive Marketing
- Business Marketing
- Customer Relationship Marketing
- Online Marketing
- Analytical Marketing
- Product and Brand Management
- Advertising Management
An MBA degree in marketing can help you get promoted to higher management and executive positions at your current company. Post-graduate business programs emphasize developing leadership and communication skills, so students are often qualified for marketing positions.
Whether you’re an experienced senior-level employee or a fresh graduate, these skills are the heart of any senior-level role. Technology has added new creative areas to the mix, making marketing even more exciting.
Marketing Management professionals can find job opportunities in Advertising Agencies, Marketing Companies, FMCG Sector, Financial Services, IT, etc.
According to pay-scale, average salary for MBA Marketing candidates average salary is Rs. 752,000 per annum.
4. MBA in Human Resource Management
There are many jobs available in Human Resources Management. In addition, HR Managers can find lots of employment opportunities in IT companies, law firms, advertising firms, retail companies, media houses, newspapers, etc.
MBA HR candidates earn Rs. 603,000 per annum. The average yearly salary of an MBA HR Manager is Rs. 756,000 and the Senior HR Manager salary is close to Rs. 1,000,000 per annum.
5. MBA in Operations Management
Graduates with this specialization usually bag jobs in product/service based units, including –
- Financial Institutions
- Management Consulting
- Information Technology
Damco, Blue Dart, First Flight, GAIL, ONGC, and NHPC are among the major recruiters for Operations Management professionals in India.
Average salary for MBA Operations Manager in India is Rs. 802,000 per annum. (Source)
6. Salary for MBA in Management Consultant in India
Management consulting is one of the most versatile professions. It involves helping clients from various industries solve their problems. It’s not just about solving your client’s problems, but also about backing up your decisions or guidance with thorough analytical research and critical strategists.
Average Management consultant salary in India is Rs. 1,144,591 Per annum.
This specialization offers one of the best salary for MBA in India.
EY, Accenture, Deloitte, KPMG, Infosys are some of the top recruiters.
7. Salary for MBA in International Business
You’ll learn why an MBA is a key career decision that can greatly increase your potential opportunities both at home and abroad. This gives you the edge as it familiarizes you with global market demands and business trends.
According to payscale, average MBA in International business candidate salary is Rs. 788,000 per annum.
TCS, JP Morgan, Standard Chartered Bank, Accenture & Capgemini are some of the top recruiters.
Career scope after MBA in India
Business students who are graduating after pandemic will have more opportunities than ever before. There are many jobs in this new economy and companies are eager to hire them. The MBA program is the perfect way for these students to learn about the market and see what is going on. They can also do a lot of networking with employers and other MBA students. This gives them a good chance of getting the right kind of experience.
As you know, the average tenure in the corporate world is less than three years. The average salary, however, is around 4 Lac per annum. With a degree in management from an MBA institute, you can expect to get a job in a multi-national company. The company you work for will depend on the industry in which you are working.
If you want to have a good career, then it is a good idea to enroll in an MBA program.
Your goal in doing so is to become a professional who can manage a business and make it successful. You should join GNA Business School to make yourself qualified. Once you graduate, you will be ready to get a job. GBS (GNA Business School) will help you to learn a lot and your resume will be full of valuable information. You should try to learn as much as you can about the different things that are happening in the business world. It will help you to know what is going on in the real world.
As mentioned above, there is a lot of lot of opportunity for MBA and many companies are giving high salary for MBA in India right now. So, choose the right specialization and you will get the right job.
An MBA is a wonderful degree to have. It is a degree that helps people to gain higher knowledge and skills. You can become a good manager after having the degree. Many people think that an MBA is not that important when compared to other degrees like engineering. In my opinion, it’s not. I believe that an MBA is the best option for you if you want to be successful in life. It is the degree that can help you improve your communication skills. It is a great degree because it can help you to develop many skills such as leadership, marketing, management, accounting, finance, human resource, etc.
The salary of the students who enroll in an MBA program depends on many factors. One factor is the type of program that the student wants to enroll in. The MBA program can help you to have a better career and it can help you to earn more money. If you want to study
In conclusion, As an Indian, you might have a lot of options when it comes to jobs in India. A well-paid job could be your career choice. The reason for this is that, there are many more MBA seats in India, than that of other countries. According to the latest report, there were around 4.04 lac seats for the year 2020-21 which is highest in the last year. If you want to pursue a degree in management, it will be a good idea to check out the list of our specialization in MBA. GNA University is one of the best management colleges in Punjab.