MBA graduates are counted among India's most preferred candidates for different jobs in India. Over the years, companies have preferred to hire MBAs for senior-level positions because of their analytical and logical thinking abilities and their skills to deal with critical situations to solve complex problems. The qualifications and the responsibilities handled by MBAs offer these professionals a salary that is quite high overall. MBAs with the right skills and expertise are up for good remunerations in various positions in different industries in India.
In this post, let us take a look at the MBA jobs in India salaries for both fresher and experienced professionals.
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MBA Salary Range in India
Master of Business Administration (MBA) is a recognized degree with high global value. The program offers young graduates holistic knowledge of business principles and strategies. An MBA program covers several specializations like Marketing, Finance, HR, Operations, and Entrepreneurship.
Generally, MBA graduates are in high demand across industries in India and they earn good pay packages as per their job roles and responsibilities. This is the reason why numerous students and working professionals strive to earn an MBA degree to enhance their scope of career in the future.
The remunerations of MBA graduates depend on various factors including the specialization or the subject that the MBAs specialize in. The average MBA job in India salary for fresh graduates ranges from Rs. 4lakh to Rs. 12lakh, which may go up to 70 lakhs with experience and the right skill set. Let us take a look at the MBA salaries based on specialization.
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Specialization-Based MBA Salary in India
Specialization plays an important role in deciding the pay packages of MBA graduates. With the right specialization, MBA aspirants can seek to earn better salaries in different sectors that they work in. Depending on various factors, MBAs in India can earn an average salary of up to 1 lakh per month. Let us take a look at how MBA specializations can impact the salary of a master of business administration professional.
1. MBA in Data Science
MBA in Data Science is a program that allows expertise in advanced business technologies to help transform data into valuable business insights. This specialization provides students with the knowledge to acquire analytic competencies to perform different techno-functional roles. The role of Data Scientist is highly in demand globally and the job pays excellent remuneration to the skilled candidates. Data scientists use AI and ML applications in their job functions to carry out tasks efficiently.
The starting salary that an MBA in data science can earn is Rs 3.8 lakh to Rs 28 lakh per annum with an average annual salary of Rs 14.4 lakh. With experience, it may go beyond. Top recruiters recruiting MBA data Science graduates include Cloudera, Coursera, Airbnb, Facebook, Intuit, Redfin, Ola, Flipkart, Amazon, and more.
2. MBA in International Business
Over the years, International Business has gained popularity as an MBA specialization due to economic growth and increasing interconnectivity between world economies. Specialization in International Business prepares young MBA graduates for a variety of managerial roles in the global marketplace.
Top recruiters globally are seeking MBA in international business graduates to join the corporate bandwagon. TCS, Accenture, Cognizant, NLC India Limited, AI Airport Services, JP Morgan, Standard Chartered Bank, and Capgemini are among the popular recruiters opting for such professionals. These corporates pay exceptionally good packages with salaries starting from Rs 7.1 lakh and going up to Rs 70 lakh per annum while the average annual salary is stated to be around Rs 34.4 lakh.
3. MBA in Human Resource Management (HRM)
HRM or human resource management is a significant MBA specialization. Human assets or the employees of an organization are its real assets and every business requires skilled and proficient employees to grow their business further. Hence, HRM is a key specialization for MBA students and it offers many opportunities for graduates to boost their career in this field.
HRM attracts lots of students every year and pays lucrative salaries to suit their job profile. Rs 2.8 lakh to Rs 19 lakh per annum is what an MBA in HRM can earn with an average annual salary of 10.9 lakh. With experience and further upskilling of talent, this salary can go above Rs 20 lakhs. Wipro, Deloitte, Aditya Birla Group, Amazon, TCS, ICICI, and KPMG, are some popular recruiters of MBA HRM in India.
Also Read: Top Private MBA Colleges in India
4. MBA in Healthcare Management
One industry that has seen tremendous growth over the last couple of years is the healthcare industry. The growth in this industry has created huge demands for MBA graduates in healthcare management. Pursuing an MBA in healthcare management gives students a successful career in the health and wellness industry and the option to earn handsome salaries in top global companies. A starting salary of Rs 0.8 lakh to Rs 23 lakh per annum is what MBA in Healthcare management graduates can expect with an average annual salary of 7 lakh. The top-level recruiters in this sector are Star Health, Fortis, Apollo, Pfizer, Practo, Cipla, and Max Healthcare, among others.
5. MBA in Marketing
An MBA in marketing is a relevant and common specialization. MBA marketing graduates with the right skills can effectively capitalize on different marketing tools to improve business landscapes, Apple, JP Morgan, BCG, Google, Accenture, and Amazon are some top recruiters hiring MBA marketing graduates in varied roles. The starting salary earned by these graduates ranges from Rs 2.3 lakh per annum to Rs 24.3 lakh per annum with an average annual salary of Rs 12.4 lakh per annum.
Prospects of MBA Professionals in India
MBA degree presents a wide scope for management graduates with excellent growth prospects. MBA offers all-round development for students by enhancing their leadership skills, personality, and overall confidence. Graduates after completing their Master of Business Administration can expect jobs in top global companies with lucrative pay packages. With the right skills and expertise, MBA professionals continue to grow in various industries throughout their professional careers.
An MBA degree is also helpful for candidates who want to enter the sphere of entrepreneurship or business. In fact, the last couple of years have seen an increase in demand for MBAs in Startup Companies with more and more start-ups recruiting fresh MBA graduates.
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MBA is a high-demand job in India and worldwide with most MBAs earning whopping salaries. MBA graduates are highly sought-after professionals in most industries, which makes it easy for them to acquire jobs in India and abroad. Qualities like leadership and management skills possessed by MBA graduates are highly sought by new and established companies. That is why even startups are hiring MBAs in large numbers these days.
If you are planning to further your education with an MBA degree in India, you can enroll in the online MBA programs offered by Amity Online University. Amity Online presents some excellent courses with unique specializations for its online applicants. Learn more by visiting Amity Online today.
