Master of Business Administration is a renowned degree in India and the rest of the world. Master of Business Administration is a programme which gives you a clear understanding of a business and its various aspects which helps to keep it up and running. One who has done their Master of Business Administration indeed has the upper hand in the job market. They get paid way higher than some other degrees. So, an MBA degree is, to some extent, very much necessary to land a high-paying job, as it will expand your career opportunities and land up to your dream job. The Salary of an MBA graduate based on their specializations is high, and in no doubt, it will rise in further future.
There is a radical shift in the demand for MBA candidates in India. Organizations and MNCs prefer Master of Business Administration graduates due to their logical thinking and complex problem-solving skills. Due to this demand, the Salary of the said professionals is also becoming high. No matter, their experience in a field is also counted and given the utmost importance.
Range of MBA salary in India
The Salary of a Master of Business Administration graduate depends on how updated and up skilled a candidate is in his domain. However, the starting salary of a fresh graduate is considered to be INR 4, 00,000 per annum. On average the Salary ranges from INR 4, 00,000 TO 32, 00,000 per annum, depending upon their expertise on their specializations.
Some of the factors to be considered before taking up a job after an MBA
Before joining a job profile after doing an MBA, one has to check some of the factors that need to be considered.
1. Organization: The organization plays a vital role if you would like to join one. It’s the organization’s vision that you should check before entering it and dedicating yourself to them. The organization’s goals should be looked after, and your ability to analyze whether or not you can grow in that organization. You can check the goodwill of the organization through different sources.
2. Job Profile: Job profile is something that most of them are confused about, especially when they are just graduates. Taking an irrelevant job profile is not worth your degree. Instead, one should analyze their job profile which would be a determining factor in their future progression in their professional circle.
3. Salaries and benefits: Salaries are an essential factor before joining a job profile. One has to be paid appropriately based on their qualifications and expertise. If they pay incentives based on the performance that is an added benefit.
4. Working hours: Work-life balance is an essential factor before joining a job profile. Make sure your company does not compromise in giving you your personal space. Ensure the company you are working for does not let you work overtime and lead to any imbalances.
5. Job location: Last but not least, Job location is also a vital factor that determines you’re working in the right environment. One’s cost of living, transportation to work, and accessibility to essential services are essential factors which one should consider before joining an establishment. You are lucky if you are working in your hometown.
Popular cities offering best jobs after MBA
The cities in which we prefer to work play a significant role in our professional lives. These are the cities that offer the best opportunities for a Master of Business Administration graduate:
3. Gurgaon/ Haryana.
4. Mumbai/ Maharashtra.
6. Chennai/ Tamil Nadu.
Jobs after an MBA in India based on specializations and their salaries.
The remuneration of an MBA graduate entirely depends upon five main factors, which are:
1. MBA specializations he/she studied
2. Experience of the candidate
3. Institute/ College
Let us look more deeply at the top 10 jobs after an MBA degree that most might want to know. Knowing about the professions will give you a better idea of why an MBA is essential to land up a better paying job.
Following are the top 10 jobs that you can consider after doing your Masters in Business Administration:
1. Marketing Manager: MBA in Marketing will help you join a company that sells products and services. You can be a Marketing Manager, and your main job will be to look after and head the marketing department and market the products and services to increase sales.
2. HR Manager: The HR Department is responsible for the smooth functioning of the company. The company may mid-size to large companies. They are the ones to ensure that the right people are hired, and all the existing employees are happy.
3. Sales Manager: The role of the Sales Manager is very crucial to a company. It is an essential aspect of a business. The Sales Manager is in charge of the company’s direct sales through its various sales professionals who the company hires. He sets the targets for every salesperson and ensures the targets are met.
4. Business Analyst: Business Analyst is a new profession that should be considered seriously. Business analysts use data analytics to provide insights into the company. These analytics are used to make essential business decisions. The role of a business analyst is popular and will have high demand shortly.
5. Finance Advisor: To become a Finance Advisor, you have to do an MBA in Finance and have to have work experience of at least two years. As a Finance Advisor, you will give investment and capital management advice to companies or individuals in exchange for a fee.
6. Business Development Manager: A Business Development Manager helps to grow a business through various methods. They work closely with the marketing and sales team and also bring in profitable collaborations. They have a massive role in taking the company to the next level.
7. Investment Banker: Investment Bankers helps companies to generate a large amount of capital. They are financial experts who by every means help companies to raise money and expand their business. Investment Bankers are some of the highly paid professionals in the MBA field.
8. Business Consultant: Business Consultants are the professionals who are hired by businesses. They provide consultation services to businesses in every matter related to the company. One can become a Business Consultant after doing an MBA and having ample experience in the business world.
9. Project Manager: Project Managers are the people who are in charge of a particular project. They have to manage and guide the people involved in the project and ensure that the planned project is executed correctly to its completion.
10. Chief Technology Officer: Nowadays, Technology is an essential part of every business irrespective of its nature. A CTO incorporates new technologies in a business and looks after all the technical aspects of a business.
Average Salary based on Job Position
You need to know about the Salary and income of an MBA graduate. This will inspire you to do an MBA. So here are some estimated figures that you can earn after an MBA in its various specializations.
1. Marketing Manager: 8.4 lakhs.
2. Financial Analyst: 4.6 lakhs.
3. HR Manager: 7.2 lakhs.
4. Senior Business Analyst: 9.6 lakhs.
5. Operations Manager: 7.6 lakhs.
These figures may differ from organization to organization. But the average statistics will help you get an idea and give you the ability to negotiate.
I hope you got a clear grasp of why to do a Masters in Business Administration, and if I answer the question, is MBA essential to get a high-paying job? I would say yes because it is one of the courses that have high demand not only in India but across the world. Its study curriculum is challenging at times, but it aims to shape you well for the real world. It helps you prepare so that it is easier for you to handle stress and become smart in solving problems in the real world. And when it comes to the Salary, an MBA graduate will get a good salary to start with and be well satisfied. It shall encourage the graduates to work more and climb up the ladder when the Salary is sky-high. So it is always great for you to do an MBA.
Also, read my post, Top MBA Colleges in Assam? Colleges you want to look out for