Introduction:
MBA is one of the most popular graduate management degrees in India. This is one such degree in which students and employers can’t get MBA Salary in India enough of it because of its perks and salary. Thousands of ambitious people apply to different MBA places every year to pursue their dream or to earn a lot of money in the future.
MBA as a generalist degree provides you with core management knowledge. As a result, you’ll gain a comprehensive understanding of business, including marketing, finance, and accounting, all while honing those crucial soft skills and leadership abilities.
Some of the famous MBA alumni include Ajay Banga who is the President and CEO of MasterCard, Deep Kalra who is the Founder and CEO of MakeMyTrip.com, and Yashish Dahiya who is the Co-founder and CEO of Policybazzar.com.
Therefore, what can you achieve with an MBA degree? What varieties of MBA programmes are offered? And how much salary does an MBA employee gets?
The Mba Stands For What?
The full form of an MBA is a Master of Business Administration.
The MBA is the original graduate degree offered by business schools worldwide and was first offered by Harvard University Graduate School of Administration (now Harvard Business School) in 1908.
Employers will take notice of you more if you have “MBA” on your Resume, but the degree’s genuine significance extends beyond its three letters on a page. Additionally, it will improve your professional network, career and financial opportunities, and business understanding.
Typically it was first believed that only students from the finance field can pursue MBA, but with changing times this thought process has also changed as today students from various fields and professions are applying to pursue MBA degrees.
The Graduate Management Admission Council reports say that the pay increase, advancement to senior positions, people management, and working abroad are the top career goals for prospective MBA students. These advantages are only a few of the many perks of earning an MBA. The MBA degree is for anyone, regardless of experience, who wants to develop management skills and advance their career, whether they want to establish their own business, rise within a present firm, move functions, industries, locations, or all three at once.
According to Virginie Fougea, global director of admissions and financial aid at INSEAD, “An MBA is not just designed to equip students for their next job post-graduation; it’s a life-changing experience that enables students to make career changes five, 10, and 15 years post-MBA, thanks to the skills they learn and the network that lasts long after graduation,”
Types Of MBA Programmes:
Although the typical full-time MBA programme is still a popular choice, there are now many different MBA programmes available. Business schools provide a variety of MBA programmes that are tailored to diverse student profiles.
- Full-Time MBA – For students who are just starting their careers or who are in the middle of one and are considering a total career shift, the full-time MBA programme provides the first immersive on-campus experience. The most popular MBA programme in the US is two-year and is a full-time option.
Although full-time MBAs come in a variety of formats, the one-year MBA is particularly well-liked in Europe and Asia since it offers a quicker experience and less time away from the workplace. While London Business School offers flexible exit points after 15, 18, or 21 months of study, INSEAD’s MBA can be finished in just 10 months.
- Part-time MBA – You can work and study while pursuing a part-time MBA, saving you the potential cost of attending a full-time school as well as your salary. Part-time MBA courses frequently combine online and in-person instruction, taking place in the evenings, on weekends, or in flexible modular formats.
- Executive MBA – The Executive MBA is a part-time MBA programme designed for seasoned executives with more than 10 years of professional experience. Senior leaders are brought together by EMBA programmes to upgrade their skills, network, and share knowledge while bringing their work-related projects into the course.
- Online MBA – You can continue working while pursuing a part-time, incredibly flexible MBA using the online format. You can do this while relaxing at home. Although there are more and more MBA programmes that are entirely online, most online MBA programmes still include a residential component (1-2 weeks). You can also pay per module and schedule your own study time for several online MBA programmes. This implies that while the average length of an online MBA programme is two years, there are some exceptions.
MBA Specializations:
Despite being a generalist degree, the MBA allows you to specialise in topics that interest you. MBAs with a variety of specialities are available from business schools, including those in entrepreneurship, business analytics, healthcare management, finance, marketing, and human resources. These often combine management-related core MBA courses with a speciality track of classes geared toward your area of interest.
What Jobs Can You Do With An Mba?
What jobs can you get with an MBA? everything you set your mind to. You can get ready for work in many different industries and roles with an MBA. Here are the top 5 MBA specializations you can do.
- Finance manager – A finance manager is responsible for overseeing the financial operations of a company, including budgeting, management of accounts, financial analysis and reporting, and monitoring of financial trends. They must also ensure that the company’s financial activities are compliant with applicable laws and regulations.
The salary of a finance manager will vary depending on the size of the organization and the individual’s qualifications, experience, and skill set. In India, the average salary is around ₹7,00,000 per year. However, salaries can range from ₹3,00,000 to ₹15,00,000 per year.
- HR manager – An HR Manager with an MBA degree in India can expect a salary ranging from ₹ 500,000 to ₹ 1,500,000 per annum, depending on the industry and experience. The primary role of an HR Manager is to manage the organization’s human resources. This includes recruiting, training, and developing employees, providing guidance, and developing policies and procedures that foster a positive work environment.
- Additionally, they oversee the performance management process and provide career guidance and counselling to employees. They also handle employee relations and investigate any complaints. They are also responsible for designing and administering employee benefit programs, such as insurance, health, and retirement plans.
- Investment Banker – An Investment Banker in India with an MBA degree typically has the role of advising businesses on financial matters such as mergers and acquisitions, capital raising, and restructuring.
- They also provide capital to companies and act as intermediaries between buyers and sellers. The average salary of an Investment Banker in India with an MBA degree is around Rs. 10 to 15 lakhs per annum.
- IT manager – An IT Manager in India with an MBA degree is responsible for managing a team of IT professionals, overseeing the implementation and maintenance of IT systems, and developing IT strategies to meet organizational goals.
- They may also be responsible for budgeting and forecasting, vendor management, and IT security. The salary for this role can vary greatly depending on experience and the size of the organization, but a general range is between 8 to 15 lacs per annum.
- Marketing Manager – A Marketing manager in India with an MBA degree will typically be responsible for overseeing the planning, development, and implementation of marketing and advertising campaigns for a company.
- They will also be responsible for creating and managing budgets, monitoring campaigns, and evaluating their effectiveness. In terms of salary, an MBA-educated Marketing manager in India can expect to earn an average of Rs 6,00,000 to Rs 10,00,000 per annum.
These are some of the job options that one can pursue after completion of an MBA degree but this is not the end of the list, one can also apply for, a financial advisor, management analyst, operations manager and many more.
FAQs About MBA Salary in India:
What are the eligibility criteria for an MBA in India?
The eligibility criteria for pursuing MBA in India typically require a bachelor’s degree or equivalent in any discipline from a recognized university with a minimum of 50% aggregate marks or equivalent CGPA.
Which are the top MBA colleges in India?
The top MBA colleges in India include IIM Ahmedabad, IIM Bangalore, IIM Calcutta, XLRI Jamshedpur, FMS Delhi, SPJIMR Mumbai, MDI Gurgaon, NITIE Mumbai, IMI New Delhi, and JBIMS Mumbai.
What are the entrance exams for MBA in India?
The most common entrance exams for MBA in India are CAT, XAT, CMAT, MAT, ATMA, and SNAP.
Are MBA degrees in India recognized worldwide?
Yes, MBA degrees awarded by the top colleges and universities in India are recognized worldwide.
What is an MBA in India?
An MBA (Master of Business Administration) is a postgraduate degree program in business administration. It is the most popular professional degree program in India and is designed to equip students with the knowledge and skills to succeed in the business world.
What is the average MBA salary in India?
The average salary of an MBA graduate in India is around Rs. 8.5 Lakhs per annum.
What are some of the top-paying jobs for MBA graduates in India?
Some of the top-paying jobs for MBA graduates in India include Investment Banking, Consulting, Business Development, Marketing and Sales, and IT Management.
What kind of salary can I expect to receive after completing an MBA in India?
The salary you can expect to receive after completing an MBA in India will depend on the college you choose, the specialization you opt for, and your experience. Generally, MBAs with more experience and expertise tend to receive higher salaries.
Are there any other factors that affect MBA salaries in India?
Yes, other factors that can affect MBA salaries in India include the industry you work in, the company you work for, and the city or region you are working in.
Conclusion:
In conclusion, the MBA salary in India is largely dependent on the field, organization, and experience of the individual. Generally, an MBA degree holder can expect to earn a decent salary. However, the salary can be significantly higher for those working in the IT, finance, or consulting industries. Additionally, an MBA degree can open up many opportunities for career growth, such as management positions and advanced roles in the corporate world.
With the right combination of experience and education, an MBA degree can be a great tool for career advancement in India. Hopefully, the article on MBA salary in India will help you to make the right decision according to your career.
