MBA(Master of Business Administration) is one of the most sought-after postgraduate degrees in India. People who wish to accelerate their career growth, switch industries or simply increase their earning potential will choose to do an MBA. The MBA degree provides students with the skills, knowledge, and experience necessary to succeed in the business world. However, the average salary after MBA in India varies depending on various factors, including the institute from which one has graduated, the specialisation, prior work experience and the location. In this article, we will discuss about the average salary after MBA in India.
Average Salary After MBA In India
In India, the salary after MBA can range from Rs. 3 lakh per annum to Rs. 30 lakhs per annum or even more. As per the information from the All India Council For Technical Education(AICTE), the average salary after MBA in India is around Rs. 8 lakh per annum. This figure is just an estimate and may vary depending on various factors.
Factors That Determine Salary After MBA
Institute From Which One Has Graduated
As mentioned before, the institute from which one has graduated is the most significant factor that affects the salary after MBA. Some of the premier institutes, such as IIMs(Indian Institute of Management) and XLRI(Xavier School of Management), have better placement records, and their graduates tend to earn higher salaries. On the other hand, graduates from other unpopular institutes may have to work harder to secure high-paying jobs.
Specialization is another crucial factor that affects the salary after MBA. The most in-demand specializations currently are finance, marketing, operations, human resources, and information technology.
Recruiters tend to prefer candidates with some prior work experience over freshers. The candidates who have work experience will get high-paying jobs compared to the freshers. This can happen if the work experience should ideally be in the same industry or field as the MBA specialization. For example, if one has an MBA in Marketing and work experience in the marketing industry, they are more likely to receive a higher salary than someone with irrelevant work experience or no experience.
Cities like Mumbai, Delhi, Bangalore and Hyderabad offer higher salaries compared to smaller cities and towns. This is mainly because the cost of living in these cities is higher, and hence the compensation packages offered to employees are also higher.
What Are The Highest Paying Jobs After MBA?
Graduates with an MBA Degree can choose from a wide range of career options across various industries, and their salaries can vary significantly depending on various factors. Here are some of the highest-paying jobs after an MBA in India, along with their average salary.
|Chief Technology Officer||Rs. 30 LPA|
|Management Consultant||Rs. 20 LPA|
|Product Manager||Rs. 16 LPA|
|Investment Banker||Rs.12 LPA|
|Marketing Manager||Rs. 10 LPA|
|Data Scientist||Rs. 9 LPA|
|Human Resource Manager||Rs. 7 LPA|
*The average salary may vary based on several factors. These are the estimated values.
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