MBA Salary in India- A Guide to Know the Salary Index
One of the most common questions among MBA aspirants in India is- what is the MBA salary in India post course completion? With the demand for management students and those with master’s degree has increased threefold than before, the salary of MBA students in India has also increased. Today’s job advertisements have a lot of positions marked as “MBA preferred.” During the past five years, this trend has gotten stronger. One of the reasons why they get paid well is because they can tackle complicated problems and apply reasoning in stressful situations; MBA grads are more capable and skilled. Naturally, the given MBA salary in India is strongly correlated with experience and qualifications. Therefore, the average pay for an MBA in India is within reach if you meet the necessary requirements.
Your career should continue progressing if you possess the necessary skill set and are prepared to stay current. MBA positions are widely available in India, although under specific restrictions. This statement is accurate, particularly when we consider that an MBA salary in India is based, either directly or indirectly, on an individual’s level of upskilling and updating. This article presents you with insight into MBA salary in India.
MBA salaries in India as per Streams:
- Accounting and Finance
If you are pursuing an MBA in accounting and finance, you can expect good job prospects post-completion. From accountant to account manager or financial analyst, there are multiple roles available. The average salary is around 4lac to 10lac PA, depending on the post and experience.
- MBA in Business Analytics
An MBA in Business analytics can help you find employment in various industries, including e-commerce, financial institutions, and information technology.
Since analytics is becoming increasingly important in business, MBA Business Analytics specialists in India make, on average, Rs. 11 lakhs per year. Experienced business analytics in the area can earn between Rs. 10 and 18 lakhs per year, while freshers can expect to make between Rs. 5 and 8 lakhs per year. Senior staff members may make between Rs. 30 and Rs. 55 lakhs a year.
- MBA in Marketing
An MBA in marketing can help you advance in your career and become eligible for executive and management roles at your present employer. Graduates can easily transition into marketing roles because the programs place a strong emphasis on building leadership and communication abilities.
These abilities are essential for every senior-level position, regardless of your expertise in sales, business development, media and entertainment, advertising, brand management, or even general management. Technology has expanded the marketing industry even further by introducing fresh creative fields and cutting-edge employment categories. The average salary in India for an MBA in marketing is around 6-7 lac PA or more.
- MBA in HRM
The role of HR specialists has grown in popularity recently in all sectors of the business. Therefore, there are many job prospects for HR Management specialists in IT organizations, legal firms, retail enterprises, media houses, newspapers, etc. The annual salary for MBA HR applicants is Rs. 603,000 or more.
- MBA in Management Consultant
A management consultant is quite a popular profile, and many companies are looking for MBA professionals. The profile entails working with clients from various professional areas, including corporate, IT, investment banking, and numerous others. This is a multifaceted position where you must support your decisions and advise with critical thinking and in-depth analytical research in addition to fixing your clients’ concerns. The average salary of an MBA in management consultant is around Rs 10lac to 15lac PA.
Also Read: Top MBA Colleges in India based on NIRF Rank 2023: State-wise MBA Colleges in India 2023 Ranking
Factors that determine MBA Salary in India
There are different factors determining MBA Salary in India
- Prior Work Experience
Candidates who have worked before enrolling in the MBA programme will have an edge in the placement process. When aspirants with and without experience are assigned to the same organization and have similar profiles, the experienced employee’s package is better. Before enrolling, candidates must have relevant experience.
- Area Specialization
MBA programs are offered in India in a number of specializations, with consulting, sales and marketing, finance, operations, and international business being among the most popular. According to the 2020–2021 placement statistics from India’s top MBA schools, the consulting industry has earned the highest CTC, followed by finance.
- B-School
The university or B-School a candidate completes an MBA from is one of the main elements that affects their degree salary. The typical salary range for an IIM MBA graduate in India is between Rs. 8 and Rs. 28 lakhs per annum.
- Location
Geographical location plays a significant impact on salary in addition to qualifications and B-school. The organization’s location aids in determining the offer based on cost of living and market value. Cities in India with high salaries are Mumbai, Delhi, Bangalore, and Chennai.
Also Read: Ways To Negotiate A Higher Salary While Giving An Interview: Guide For MBA Students
Top Recruitment Companies in India
There are many top recruitment companies in India offering MBAs good pay with top positions. Companies like Dell, Microsoft, Google, TATA, Infosys, and other hire MBA graduates.
Conclusion
Given how quickly the Indian economy is growing, MBAs are in high demand. The enormous pay packages already indicated serve as evidence of this. An increasing number of businesses are setting up shop in India. To reach their leadership and managerial ranks, most of them require MBA degrees. These businesses are primarily in the IT space, but some are in the consumer goods and consulting sectors.
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