In this rapidly developing business environment, do you want to make a fortune? You can take the first significant step towards your objective with the aid of a management master’s degree. One such is the MBA program (Master of Business Administration), which equips students with the knowledge and abilities needed to run successful organisations. MBA in General Management scope is huge as it focuses on business management.
You will learn about finance, marketing, human resources, operations, and other topics in this two-year study. Because of the problem-solving abilities one gets via this degree, MBA Graduates are favoured over Non-MBA Candidates for any job. You are already regarded in the market if you have an MBA, but having strong skills might lead to a better income. Thus, the ability to serve an organisation effectively determines how much an MBA will pay.
Table of Contents:
- General MBA
- How Much Does an MBA Professional Make in India?
- What are the Highest Paying Jobs for an MBA Graduate?
- Factors Determine the Salary of an MBA
A general MBA gives students a solid foundation in management and business. You’ll get knowledge of the fundamentals for all specialisations and acquire abilities that may be used in a wide range of practise areas in virtually any sector.
The GMAT and a strong application are the only requirements for admission to standard MBA programs; neither a specific educational nor professional background is necessary.
General MBA programs have a strong emphasis on developing leadership, creativity, communication, and critical thinking abilities, all of which are essential for success in any sector, in addition to business and management expertise. MBA in General Management salary in India ultimately depends on your qualifications, work history, industry expertise, and capacity to foster organisational growth.
General Management MBA Career Path
Once you complete your MBA in General Management the scope is huge. These are some career prospects that you can follow:
- Accounting Manager
- Business Analyst
- Customer Relations and Consultancy
- Database Analyst
- Financial Analyst
- Human Resources Assistant
- Marketing Manager
- Public Service Manager
- Public Relations Manager
- Product Manager
How Much Does an MBA Professional Make in India?
You should be aware of the Indian MBA Salary before deciding whether to take an MBA. Knowing your income potential after completing an MBA will aid in your decision-making. This blog will explain the typical MBA pay as well as the various wages provided to MBAs based on their qualifications and areas of specialisation.
Because an MBA degree focuses on business management, businesses across all industries hire MBA graduates. The salary paid to MBA graduates according to their field is broken down as follows:
|SPECIALISATION||SALARY RANGE (INR)|
|MBA In Marketing||7-25 Lakh|
|MBA In Finance||7.5-22 Lakh|
|MBA In Human Resource||5.25 – 8 Lakh|
|MBA In Business Analytics||6 – 18 Lakh|
|MBA In Entrepreneurship||5 -20 Lakh|
|MBA In Operations Management||5 -8 Lakh|
|MBA In Information Technology||5 – 12 Lakh|
|MBA In Event Management||1.5 – 18.5 Lakh|
|MBA In Healthcare Management||5 – 12 Lakh|
|MBA In Digital Marketing||5 – 12 Lakh|
MBA in Marketing
An MBA in marketing may help a company think creatively and enhance its communication and impression. An organisation may see exponential growth as a result.
Responsibilities of a graduate with an MBA in marketing:
- Business Marketing
- Digital Marketing
- Retail Marketing
- Brand Management
- Product Management
- Quality Management
An MBA in marketing covers every aspect of marketing and offers practical marketing strategies.
In 2022, the annual salary of an MBA in Marketing graduate might vary from 7 to 25 lakhs rupees. Marketing agencies, FMCG firms, e-commerce brands, retail brands, entertainment and financial businesses are the top employers of MBA Marketing graduates.
MBA in Finance
One of India’s most well-liked MBA programs is the MBA in Finance. Because it offers a variety of options in the financial sector of businesses and aids in business growth, an MBA in Finance is a popular choice among students.
In 2022, the salary range for an MBA in Finance graduate is between 7.5 and 22 lakhs annually.
MBA in Human Resources
As the organisation expands, there is an increasing need for qualified human resource personnel. An organization’s ability to manage its human resources effectively is essential to its expansion.
Every industry has a growing need for human resource management, thus MBA graduates in this field are in great demand and receive competitive salaries.
The compensation following an MBA in human resources now varies from 5.25 to 8 lakhs per year as of 2022.
MBA in Business Analytics
Career opportunities for those with an MBA in Business Analytics degree include data analyst, business analyst, marketing data analyst, data-mining specialist, and architect.
Today’s world places a higher importance on data than ever before, which is why business analytics is growing in popularity. The average pay for an MBA in Business Analytics is 6 Lakhs per annum, with potential earnings of up to 18 Lakhs per annum. Browse the best business management courses to earn your certification on the go. You may also negotiate a better wage by doing this.
MBA in Entrepreneurship
An MBA in Entrepreneurship is a course of study that equips a person to successfully manage a firm.
Graduates of the MBA in Entrepreneurship program can apply for positions in business management such as Chief Executive Officer (CEO), Vice President, Supervisor, Business Consultant, and Executive.
After completing the MBA in Entrepreneurship program, you will have the critical thinking skills necessary to directly contribute to the expansion of any organisation.
You must be an expert in the following areas to succeed as an MBA in entrepreneurship:
- Business management
- Human resources
- Account management
An MBA in Entrepreneurship may be obtained for as little as 5 Lakhs per annum or as much as 20 Lakh per annum.
MBA in Operations Management
An MBA in Operations Management can lead to careers as an assistant manager, operations manager, business analyst, general operations manager, or project manager. In fields including information technology, retail, automobiles, and hospitality, these positions are in great demand.
The demand for an MBA in operations management is rising quickly as more firms see the significance of operations management.
As of 2022, the cost of an MBA in Operations Management package ranges from 5 lakhs to 8 lakhs per year.
MBA in Information Technology
An MBA in Information Technology can lead to careers as information system managers, information technology directors, IT software project managers, and program managers.
These positions are in great demand as a result of the IT sector’s explosive expansion, particularly in India.
An MBA in information technology might earn up to 5 lakhs per year. Depending on the candidate’s job experience and geographic area, it might reach 12 lakhs per year.
MBA in Event Management
An MBA in Event Management can lead to careers as an events manager, client servicing executive, area event manager, public relations officer, and events marketing manager.
The MBA in Event Management program enhances one’s capacity for arranging significant events.
Depending on the candidate’s past job experience, the remuneration package for an MBA in Event Management starts at 1.5 lakhs per year and goes up to 18.5 lakhs per year.
MBA in Healthcare Management
An MBA in Hospital Management or Healthcare Management has grown in popularity recently. But some top institutes require applicants to have an MBBS degree.
An MBA in Healthcare Management can lead to careers as a hospital CEO, hospital CFO, clinical project manager, hospital administrator, and healthcare finance manager.
Depending on the past job experience, the salary package for an MBA in Healthcare Management ranges from 5 lakhs to 12 lakhs per year.
MBA in Digital Marketing
Digital marketing is the way of the future of marketing. The epidemic helped enhance digital marketing. Today, all businessess small, medium-sized, and large need digital marketing.
The MBA in Digital Marketing program includes SEO, SEM, SMM, brand management, client support, and email marketing.
As a digital marketer, having an MBA will provide you with a competitive edge over your rivals. The technical abilities you’ll need to be a successful digital marketer are all developed in this program. An MBA in digital marketing has a wage package that starts at 5 Lakh per year and goes up to 12 Lakh per year.
What are the Highest Paying Jobs for an MBA Graduate?
Possessing an MBA opens you to a vast array of employment possibilities. The highest Paying Jobs for MBA Graduates are as follows:
One of the best-paying professions in India is investment banking. Many companies will only consider candidates with an MBA. Investment bankers help businesses with their financial planning and assist in raising funds on the capital markets.
For those MBA candidates who want to work in investment banking, studying finance is of utmost importance. The starting salary for an investment banker is 9 Lakhs annually. After gaining sufficient relevant job experience, MBA graduates can earn up to 30 lakhs per year.
Most MBA graduates find employment as project managers. A project manager participates at each stage of the project, as the name suggests. It is in charge of ensuring that a project is properly carried out, from planning and strategy through budgeting and team management. The best candidates for project manager positions are MBA graduates.
The following abilities are necessary for an MBA graduate to be successful as a project manager:
- Team Management
- Effective planning and strategizing
- Appropriate Financial knowledge
The annual salary for a project manager ranges from 9 to 13 lakhs on average.
Business And Strategy Consultant
Business and strategy consulting are two of the greatest occupations available today for MBA graduates. Business and Strategy Consultants analyse the data, trends, and numbers and provide their findings to customers.
Based on past employment experience, the average salary for a business and strategy consultant is 10 lakhs per year, with a range of up to 13.6 lakhs per year.
An MBA graduate working as a marketing manager would be in charge of the organization’s whole marketing operations. A marketing manager makes sure that the business realises a sizable return on its marketing expenditures. It develops and puts into action an effective marketing strategy to advance the business.
The salary range for a marketing manager is between 7 and 9 lakhs per year on average.
Business Development Manager
One of the most crucial jobs in the success of an organisation is played by the business development manager. You will be qualified for this position and given preference by recruiters if you have an MBA. Planning and strategizing in a way that supports the company’s growth and expansion are the duties of a business development manager.
A Business Development Manager’s annual salary averages out at 5 lakhs and may go as high as 10 lakhs.
Factors Determine the Salary of an MBA
Numerous variables affect an MBA graduate’s salary. Here are four factors that will affect your MBA salary:
Your pay as an MBA is strongly impacted by graduating from a reputable institution. The more prominent your institute is, the higher income you would receive in a setting of fierce competition. You should first investigate the products provided by your MBA program.
In any sector, a person’s compensation is heavily influenced by their previous employment history; this also holds true for MBA candidates. Your compensation will depend on how many years of relevant job experience you have.
Although Work Experience and MBA Institutes play a significant role in determining an MBA’s salary, geographic location also has an impact. The highest salaries are offered for MBAs in Tier-One cities like Chennai, Delhi, Mumbai, Bangalore, and Delhi.
The compensation package you’ll be offered as an MBA is also based on your job profile. Depending on their area of specialisation, MBA graduates work in a variety of areas that can support corporate growth. Your goal job profile will have a big influence on your compensation; therefore, you need to know what it is.
MBA Salary in India Based on Experience
In India, the starting compensation for an MBA professional is between 10 and 12 lakh rupees. An MBA graduate in India may expect to make an average starting salary of Rs. 9 lakhs annually. With time and experience, this amount might increase to Rs. 16 lakhs annually. Those with substantial experience who have ascended the corporate ladder often get the greatest wages.
MBA Salary in India Based on Qualification
In India, MBA professionals may make a good living based on their credentials. A person with an MBA from a top business school may make more money than a person with an MBA from a lower-rated institution. After pursuing a specialisation or an MBA in General Management the scope is huge.
Depending on the person’s qualifications, the typical wage range will change. For instance, an MBA holder with a degree from a prestigious business school can make significantly more money than someone with a degree from a lesser-known university. One such degree is the MBA (Master of Business Administration),
Due to its vast consumer base, India is already attracting international businesses. Most of these businesses require MBA graduates to oversee and manage various facets of their operations. Go for it if you desire to pursue an MBA and believe that the rewards would be beneficial to you. There are various jobs after MBA in General Management or MBA with a specialisation.
The MBA salaries discussed in this blog are only estimates; we make no claims that they are entirely accurate. Your salary as an MBA will ultimately depend on your qualifications, work history, industry expertise, and capacity to foster organisational growth.