Since MBA became the degree of the moment, the ROI on an MBA has inevitably shaped into a famous conundrum. This advanced degree is focused on building leadership acumen and learning fundamental business principles. Although these are the key tenets of the comprehensive degree, its offerings are multi-dimensional. For the majority, an MBA is a competitive edge, a solid career growth prospect, and a big fat paycheck!
Addressing the concerns of “Why an MBA and what is its worth?”
As you carefully calculate the ROI on this one, some benefits of an MBA may line up sooner than expected. The handpicked few who make it to the nation’s coveted institutions like IIMs, gain immediate access to state-of-the-art resources and a highly seasoned staff who help them build industry connections and accrue market-ready skills. From every aspect, an MBA from an IIM is indeed the ideal pitstop for those looking to make a sharp career pivot or drill deeper into their existing niche. With such glaring opportunities to diversify and the distinctive edge of being an IIM alumnus, the MBA degree from IIM duly boasts of being a dream come true career prospect for countless young professionals in India.
But how much does it pay to be an IIM graduate?
From an enhanced career network to expansive knowledge of diverse business functions, the value of doing an MBA is indeed difficult to quantify. Of the many perks of graduating from an IIM rather than doing an MBA from a regular business school, the most promising one remains the whopping six-figure salary package promised to IIM graduates. You don’t have to take our word for it; below are some statistics that distinctly show the annual salary packages for the top 10 IIMs in the country for the MBA batch of 2021-22.
|
Name of IIM |
Highest CTC OFFERED (INR) |
Average CTC OFFERED (INR) |
|
INR 75.20 LPA |
INR 36.25 LPA |
|
|
Not Available |
INR 33.82 LPA |
|
|
Not Available |
INR 34.2 LPA |
|
|
INR 58.00 LPA |
INR 31.03 LPA |
|
|
INR 61.5 LPA |
INR 29.50 LPA |
|
|
INR 70.00 LPA |
INR 25.01 LPA |
|
|
INR 55.22 LPA |
INR 23.10 LPA |
|
|
INR 32.00 LPA |
INR 16.06 LPA |
|
|
INR 32.21 LPA |
INR 16.17 LPA |
|
|
INR 42.15 LPA |
INR 17.73 LPA |
The monetary benefits of completing an MBA from IIM entail a compounding effect on the salaries of the graduates. As the graduates go on to accumulate comprehensive work experience, they can expect to see significant salary hikes year after year. The following statistics testify to the considerably higher salary increase offered to IIM MBA graduates who become seasoned professionals than the MBA graduates from other business schools.
|
Graduates’ |
Work Experience |
Increase In Salary* |
|
IIM Graduates |
1 -2 years |
20,00,000 INR |
|
Engineering Graduates |
1-2 years |
5,00,000 INR |
|
Social sciences & Art Graduates |
1-2 years |
5,00,000 INR |
|
IIM Graduates |
3-5 years |
50,00,000 INR |
|
Engineering Graduates |
3-5 years |
8,00,000 – 9,00,000 INR |
|
Social sciences & Art Graduates |
3-5 years |
6,00,000 – 7,00,000 INR |
|
IIM Graduates |
6-9 years |
80,00,000 – 90,00,000 INR |
|
Engineering Graduates |
6-9 years |
15,00,000 – 20,00,000 INR |
|
Social sciences & Art Graduates |
6-9 years |
15,00,000 INR |
*Note: These are approximate figures, values are bound to change.
As evident from the above statistics, the salary increase offered to IIM graduates with successive years is starkly higher than other MBA graduates and graduates from different domains. While such data may allow clarity on the potential salary increase of IIM graduates and their respective salary packages, the decision to pursue an MBA from IIM is multi-dimensional. However enticing the above outline of average and highest salary packages may seem, the call to pursue an MBA should always be considered holistic development on the career front.
Look beyond the pomp of packages.
With the tremendous growth avenues that it entails, an MBA has much more to offer than mere numbers. Therefore, we urge you to look beyond the sparkle of high salary packages and divert your attention towards chiselling your business acumen with the plethora of knowledge these institutes offer. Furthermore, as you judiciously weigh up all the pros and cons of doing an MBA and explore the best geographies to pursue the degree, this might be your cue to realign your perspective and shift your focus towards maximizing the knowledge; the money will inevitably follow!
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