MBA Salary In India: 2023 Career Scope & Placement Packages

MBA Salary in India: 2023 Career Scope & Placement Packages

Are you aware of the MBA Salary in India? Let’s have a deeper insight into this topic before we come to any conclusion.

As per the Graduate Management Admission Council’s 2020 Corporate Recruiters Survey, MBA graduates earn 77 percent more than people with just a normal bachelor’s degree.

The MBA Salary in India and abroad is offered according to the qualification and experience of the candidate.

Table of Contents

According to the National Institutional Ranking Framework, the average salary in India after MBA ranges from Rs 6 Lakh per annum to Rs 23 Lakh per annum, depending upon the ranking of the business school (B-School).

For example-

Average MBA Salary in Top and Average B-School
Name of Institute In India (p.a)
IIM Ahmedabad 55.88 Lacs
Xavier Institute of Management (XIMB) 14.6 Lacs
 Institute of Management Technology (IMT), Ghaziabad 11.00 Lacs

MBA Jobs in India – Specialization wise

Specialization in MBA can be done in many streams and the following are the openings listed on major job portals like Naukri, Indeed, and Monster by the corporates.

Following is the list of Specialization of MBA along with Job openings.

These are the common MBA jobs that you can apply for once you have completed your specialization in Master of Business Studies.

Job Openings for MBA
Human Resources (HR) Operations Retail Entrepreneurship Business Analytics
Recruitment Manager Supply Chain Manager Sales Manager Small Business Owner Financial Analyst
Training & Development Manager Logistics Manager Product Executive Corporate Supervisor Supply Chain Analyst
Employee Benefits Manager Inventory Control Manager Store Manager Sales Manager Management Consultant
Employees Coordinator Project Managers Brand Manager Fundraiser and Development Officer Predictive Modeller
Payroll Manager Operations Manager Marketing Executive Business Consultant Business Systems Analyst
International Business Sales and Marketing Finance Supply Chain and Management
Marketing Analyst Brand Manager Financial Manager/Analyst Supply Chain Performance Analyst
Administrative Service Manager
Marketing Manager
Marketing Manager Credit Analyst VP of Supply Chain Operations
Employee Benefits Manager Market Research Analyst Accounting Manager Warehouse Operations Manager
International Business Development Manager Sales Manager Risk and Insurance Manager Demand Planning Analyst
Government Affairs Director Product Manager Treasurer Supply Chain Consultant
International Finance Manager Media Planner Finance Manager Distribution Center Supervisor
Export Coordinator Internet Marketing Manager Cash Manager Logistics and Transportation Analyst
Purchase Manager
Healthcare and Hospital IT and Systems Others
Healthcare IT service Project Manager Finance Manager Entrepreneur Oil & Gas Manager
Health Insurance Industry Business Development Executive/Manager Energy & Environment Manager Materials Manager Business Analytics Consultant
Pharmaceutical industry Product Manager Marketing Manager Rural Manager Advertising Manager
Medical equipment Marketing Manager Sales Manager Transport & Logistics Manager Sports Manager
Hospital administration Analytics Manager Human Resources Manager Operations Manager Supply Chain Manager
Hospital CEO System Manager Import & Export Manager International Business Manager Retail Manager
Hospital CFO Data Processing Manager NGO Manager Disaster Manager Textile Manager
Hospital Administrator Business Analyst Healthcare & Hospital Manager IT & Systems Manager Business Manager
Pharmaceutical Product Manager IT Manager/Consultant Data Analytics Agriculture & Food Business Public Policy Manager
Healthcare IT Consultant Information Systems Managers Telecom Manager Digital Marketing Manager
Systems Analyst

MBA Salary in India – Specialization Wise

MBA programs are becoming increasingly popular in India, as they offer students the opportunity to pursue a management career in a variety of industries.

But what does an MBA degree actually entail, and what kind of salary can you expect to earn after graduation?

An MBA is a master’s degree in business administration, a graduate-level program that takes around two years to complete.

The MBA curriculum typically covers topics such as accounting, finance, marketing, and operations management.

MBA Starting Salary in India per month also depends upon the MBA specialization chosen by a candidate.

Based on the 2021-2022 placement reports of the top MBA Job roles in India Consulting sector has acquired the highest CTC followed by Finance.

Let’s see how the salary in India varies according to the specialization streams and job roles:

MBA Salary in Finance in India

MBA finance graduates can explore lucrative opportunities in various sectors such as corporate finance, credit risk management, asset management, sales and trading, treasury, hedge fund management, and many more.

The following table represents the average MBA Finance salary in India per annum. The salary increases with the growth in experience and knowledge of the industry.

MBA Finance Salary
Job Profile Average salary (INR) Salary Range (INR)
Financial Analyst 5,31,984 2.59L – 10L
Finance Manager 10,09,276 4.31L – 20L
Operations Manager 8,92,543 4.40L – 20L
Project Manager 15,35,674 6.73L – 30L
Investment Banking Associate 7,89,591 3.09L – 20L
Accounting Manager 11,90,791 3.57L – 40L

MBA in Sales & Marketing Salary in India

MBA in Marketing is one of the oldest disciplines of management study and also the most popular among students owing to multiple MBA job opportunities in the market.

Technology has further augmented the marketing world, adding new creative and innovative job profiles to the mix.

According to Payscale, the following is the average MBA in Sales and Marketing salary and the range as per the respective job profile:

MBA Marketing & Sales Salary
Job Profile Average salary (INR) Salary Range (INR)
Market Research Manager 14,27,886 7.26L – 30L
Marketing Manager 9,27,062 4.08L – 20L
Business Development Executive 3,77,457 2.17L – 6.27L
Sales Manager 7,56,700 3.07L – 20L
Relationship Manager 5,80,758 2.87L – 20L

MBA in Human Resource Salary in India

MBA in HR (Human Resources) is the most popular management course for candidates aspiring to be successful human resources professionals.

The growing need for human resource management in every sector has accelerated the demand for HR professionals and thus allowing them to avail good Mba HR salary in India per month.

The starting average salary of an MBA in HR graduate is about Rs 5.3 Lakhs per annum as of 2022 and the highest starting salary is Rs 8 Lakhs per annum.

MBA Human Resource Salary
Job Profile Average salary (INR) Salary Range (INR)
Human Resource Manager 8,42,424 3.66L – 20L
Training and Development Manager 7,57,721 3.43L – 20L
Human Resource Consultant 5,69,115 2.20L – 20L
Executive Recruiter 3,78,639 2.04L – 6.32K
Compensation and Benefits Manager 15,41,399 6.86L – 30L

MBA in Information Technology Salary in India

MBA jobs after MBA in Information Technology are abundant with good IT salaries in India.

MBA Information Technology helps the student develop insights about the functioning of the market, technologies, and consumer behavior, providing career opportunities in both government and private sectors.

Following are the average IT salary in India and the range as per the respective job profile:

MBA Information Technology Salary
Job Profile Average salary (INR) Salary Range (INR)
Project Manager 14,29,462 5.56L – 20L
Business Analyst 6,23,423 2.91L – 10L
Data Analyst 5,95,716 2.83L – 10L
Information Technology Manager 12,41,793 5.77L – 20L
Information Technology Consultant 10,37,464 4.72L – 20L

MBA in Business Analytics Salary in India

According to a McKinsey survey, close to 58% of respondents said their organization concentrates mainly on data science, data engineering, analytical transformation, and data architecture; emphasizing the growing importance of analytics in business.

Graduates in Business Analytics can find MBA jobs in various sectors like Information Technology, Financial Institutions, E-Commerce, Healthcare, etc.

Following are the average MBA Business Analytics salary in India and the range as per the respective job profile:

MBA Business Analytics Salary
Job Profile Average salary (INR) Salary Range (INR)
Data Analyst 4,49,544 2.16L – 8.73L
Data Scientist 7,86,829 2.80L – 20L
Research Analyst 4,52,727 2.46L – 8.15L
Operations Analyst 19,14,556 8.92L – 40L
Management Consultant 11,86,476 5.36L – 20L

MBA in Operations Management Salary in India

MBA in Operations Management offers you job opportunities related to resource management and operation handling.

The program includes training for handling different aspects of a business, such as planning, manufacturing, production, services, and maintenance.

Following is the average salary and the range as per the respective job profile:

MBA Operations Management Salary
Job Profile Average salary (INR) Salary Range (INR)
Supply Chain Manager 12,11,012 5L – 30L
Logistics Manager 8,95,786 3.40L – 20L
Project Manager 12,42,256 5.71L – 20L
Operations Manager 10,40,256 4.80L – 20L
Plant Manager 13,45,703 5.54L – 30L

MBA in Logistics & Supply Chain Salary in India

MBA in Logistics & Supply Chain Management program aims to develop analytical and administrative abilities in logistics and supply chain management.

The objective of the program is to make graduates understand the mechanism of the entire supply chain management from supplier to manufacturer to wholesaler to retailer to consumer.

Following is the average salary and the range as per the respective job profile:

MBA Logistic & Supply Chain Salary
Job Profile Average salary (INR) Salary Range (INR)
Business Operations Manager 21,22,181 10L – 30L
Logistic Manager 9,58,799 3.97L – 20L
Operations Manager 9,76,151 4.27L – 20L
Purchasing Manager 4,68,558 2.68L – 8.11L
Supply Chain Manager 7,17,967 3.08L – 20L

Highest salary-paying company in India that hire people with an MBA degree in logistics and supply chain management are:

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MBA in Entrepreneurship Salary in India

MBA in Entrepreneurship is a specialization that focuses on developing skills in students who wish to become entrepreneurs or run existing businesses.

This specialization is also perfect for senior management roles in fields such as finance, business management, human resources, account management, and many more critical business competencies.

Following is the average salary and the range as per the respective job profile:

MBA Salary Entrepreneurship
Job Profile Average salary (INR) Salary Range (INR)
Management Consultant 30,56,249 10L – 70L
Customer Success Manager 4,18,545 2.38L – 6.48L
Business Development Executive 3,19,639 2.17L – 4.63L
Client Relationship Manager 2,79,864 1.56L – 4.81L

MBA in Event Management Salary in India

MBA in Event Management is a specialized program that empowers graduates to conceptualize, plan and organize different kinds of events such as award shows, political rallies, fashion shows, and official events.

Following are the average MBA salary and the range as per the respective job profile:

MBA Salary Event Management
Job Profile Average salary (INR) Salary Range (INR)
Event Manager 4,77,894 1.91L – 20L
Public Relation Officer 3,43,773 1.86L – 10L
Marketing Manager 6,80,421 3.03L – 20L
Media Planning Manager 4,09,756 2.08L – 10L
Corporate Communications Manager 8,70,584 4.61L – 20L

Factors on which MBA Salary in India Depends

 

Factors affecting mba salary in india

While the salary in India after MBA varies depending on a number of factors, such as the specific industry you work in and your level of experience.

So, if you’re considering pursuing an MBA degree, you can expect to earn a good salary after graduation.

However, it’s important to keep in mind that there are many other criteria that are going to affect the packages offered after MBA:

1. The MBA Program You Choose

The salary in India after MBA varies depending on the specific MBA program you choose to study. For example, MBA programs that focus on marketing or finance tend to offer higher salaries than programs that focus on general business administration.

Similarly, these programs are available in a variety of formats, including online, distance learning, and traditional in-person courses.

For students who cannot attend classes by physically visiting universities, many institutions have begun offering MBA courses via online and distance learning formats.

According to Payscale, the average MBA Salary is displayed in the following table :

Average MBA Salary as Per Mode of Learning
MBA Type Average Annual Salary (INR)
Regular MBA 4 – 32 lakhs
Distance MBA 6 – 8 lakhs
Online MBA 4 – 6 lakhs
Executive MBA 12 – 40 lakhs

2. Your Industry

The industry you work in after graduation also plays a role in MBA salaries. MBA graduates who work in management consulting or healthcare management tend to earn higher salaries than those who work in other industries.

3. Your Level of Experience

MBA graduates with more experience tend to earn higher salaries than those with less experience. This is because experienced MBA graduates are more likely to hold senior-level positions within their organizations.

4. The Location of Your Job

The location of your job can also affect MBA salaries. MBA graduates who work in major metropolitan areas, such as Mumbai or Delhi, tend to earn higher salaries than those who work in smaller cities or towns.

5. The Size of Your Organization

The size of your organization can also have an impact on MBA salaries. MBA graduates who work for large organizations tend to earn higher salaries than those who work for smaller organizations.

6. Your Academic Performance

Your academic performance in MBA programs can also affect MBA salaries. MBA graduates with higher GPAs tend to earn higher salaries than those with lower GPAs.

7. The Type of MBA Degree You Have

The type of MBA degree you have can also play a role in MBA salaries. MBA graduates with an Executive MBA degree tend to earn higher salaries than those with a traditional MBA degree.

According to Glassdoor, a few figures of MBA salaries in India based on the program you choose are given below:

MBA Salary as per Graduation Stream
Type of MBA Degree Salary Range
BBA + MBA 15 – 18 lakh per annum
B.Com + MBA 6 – 12 lakh per annum
CA + MBA 18 – 25 lakh per annum
Graduation + MBA 8 – 8 lakh per annum

8. The MBA Specialization You Choose

The MBA specialization you choose can also affect MBA salaries. MBA graduates who specialize in marketing or finance tend to earn higher salaries than those who specialize in other areas.

9. The MBA Recruiter You Use

The MBA recruiter you use can also play a role in MBA salaries. MBA graduates who use top MBA recruiters tend to earn higher salaries than those who use less well-known MBA recruiters.

10. Your Network

Your professional network can also have an impact on MBA salaries. MBA graduates with strong professional networks tend to earn higher salaries than those with weaker networks.

11. Your College

According to the final placement report of IIM Ahmedabad, the highest salary after MBA was Rs 55.88 lakh per annum, and the International salary was Rs 1.32 crore per annum.

MBA Salary in India based on Qualifications/College

One of the most important factors that determine the salary of the MBA postgraduates is the Institute/Business School from which the candidate has graduated.

The more prestigious and reputed your institution, the more likely you will secure a high salary package. The candidates need to carry out in-depth research on MBA placement figures for each institute before securing a place or applying for admission.

MBA Salary based on Qualification
Colleges Average Salary
FMS, Delhi 1,800,000
JBIMS, Mumbai 1,700,000
TISS, Mumbai 1,500,000
SIMSREE, Mumbai 1,060,000
NITIE, Mumbai 1,200,000
DMS, IIT Delhi 1,200,000
PUMBA, Pune 540,000
VGSoM, IIT Kharagpur 1,100,000
MFC DU, Delhi 9,00,000

Top MBA Colleges in India

There are a number of colleges to pursue an MBA in India that offer MBA programs. Some of the top MBA colleges in India include:

Top MBA Colleges
Tier I Tier II Tier III
The Indian Institute of Management (IIM) K. J. Somaiya Institute of Management Studies and Research Mumbai Ashoka University (Sonepat)
Indian School of Business (ISB) Institute of Rural Management Anand Chitkara University (Solan)
The Xavier School of Management (XLRI) Symbiosis Institute of International Business (SIIB) Sharda University (Greater Noida)
The Narsee Monjee Institute of Management Studies (NMIMS) T. A. Pai Management Institute, Manipal ICFAI University (Dehradun)
The Symbiosis Institute of Business Management (SIBM) International Management Institute (IMI) Delhi CMR University (Bangalore)
The Institute of Management Technology (IMT) Great Lakes Institute of Management (Chennai) Centre for Environmental Planning and Technology University (Ahemdabad)
The Mudra Institute of Communications (MICA) Institute of Management, Nirma University AMITY University (Noida)
The Loyola Institute of Business Administration (LIBA) Indian Institute of Management (IIM) Raipur Dayanand Sagar University (Bangalore)

MBA Salary in India based on Experience

Work experience plays a decisive role in determining the MBA Starting Salary in India per month; it gives an added advantage during placements. Let’s have a look at how experience influences the average salary of MBA graduate in India:

MBA Salary after work experience
Experience Average salary per annum
Fresh MBAs without experience INR 3L- 5 L
MBA salary with experience of 3-4 years INR 5L- 7L
MBA salary with experience after 5 years INR 12L- 18L
MBA salary with experience of over 10 years INR 30L- 50L

MBA Salary in India based on Geographical Location

Though MBA salaries depend on the job role, course after MBA, etc., it is evident that different cities offer different salaries based on the cost of living and the value of the market for the same job profile.

MBA Salary based on Location
Geographical Location MBA Graduate average Salary per annum
Gurgaon, Haryana Rs 8 Lakh
Bangalore, Karnataka Rs 7.5 Lakh
Mumbai, Maharashtra Rs 7 Lakh
Hyderabad Rs 5.9 Lakh
Delhi Rs 6 Lakh

Top paying jobs for MBA freshers:

If you are planning to enroll in MBA or pursue one, these top-paying MBA jobs may be open for you:

Source- payscale

Top Paying MBA Freshers Jobs, JD, and Salary
Job Profile Job Description Average salary (INR) Salary Range (INR)
Investment Banker Investment bankers are responsible for examining and assisting businesses and individuals in raising capital by issuing debt and selling equity. They also oversee mergers, conduct research, and prepare legal and financial documents. 9,80,887 2.96L – 60L
Management Consultant Management consultants help organizations to solve issues while maximizing growth and improving business performance.
They identify current problems and potential risks and help the company to overcome them.
12,15,185 3.89L – 30L
SAP Consultant SAP consultants are responsible for designing, evaluating, and configuring computer systems and software to meet the needs of their employer or client.
They gather feedback from end-users and make necessary modifications.
6,78,121 3.02L – 20L
Product Manager The product Manager is responsible for product planning and execution.
Their responsibilities include gathering and prioritizing product and customer requirements, defining the product vision, and working closely with other departments to meet revenue and customer satisfaction goals.
13,25,045 5.41L – 30L
Chief Technology Officer (CTO) CTO oversees the current technology and creates relevant policies in an organization.
They develop a company’s strategy for using technological resources and ensure that they are used efficiently, profitably, and securely.
31,17,292 7.38L – 100L
Data Analyst A Data Analyst collects and analyzes data across the business to assist people, businesses, and organizations make better decisions. 4,49,544 2.16L – 8.73L
Chief Finance Officer (CFO) CFO is responsible for the administrative, financial, and risk management operations of the company.
They track cash flow, analyze the company’s finances and oversee all aspects of its financial success.
34,48,738 9.06L – 100L
Finance Manager A Financial Manager maintains the financial health of the organization.
They analyze data and advise senior management on profit-maximizing ideas to ensure long-term success.
10,09,276 4.31L – 20L
Operation Analyst An Operations Analyst reviews business policies and procedures, analyze data and creates reports with recommendations to improve the workflow. 4,08,349 2.31L – 8.14L
Marketing Manager Marketing Managers develop, implement and execute strategic marketing plans for an organization in order to attract potential customers and retain existing ones. 9,27,062 4.08L – 20L

Top 10 Highest Paying Companies in India for MBA Freshers:

Source- Glassdoor.

Top 10 Highest Paying Companies in India for MBA Freshers
Companies Average Salary
Google ₹5,46,223 – ₹9,27,121
Accenture ₹639,264
Tata Consultancy Services ₹4,06,495
Cognizant Technology Solutions ₹ 41,00,000
IBM ₹ 19,80,000 – ₹ 25,30,000
Infosys ₹ 18,53,333
CISCO ₹6,76,575-₹9,19,007
Microsoft ₹1,00,930-₹1,09,217
Amazon ₹9,70,018 – ₹10,57,720

Specialized Courses After an MBA

With the number of people enrolling for a General MBA increasing every year, many candidates are also looking for specialized courses after MBA that will help them stand out in the crowd.

These courses are in high demand and will help you improve holistically.

Specialized job oriented courses after mba

The benefits of doing a specialized course after an MBA includes a higher salary, better job profiles, speedy growth, product expertise, etc.

Here is a list of courses after an MBA that one can consider-

      • Financial Risk Management (FRM)
      • Digital Marketing Course
      • Certified Information Systems Auditor (CISA)
      • ISB’s Certificate Programme in Business Analytics
      • Chartered Financial Analyst [CFA]
      • Certification in Risk Management Assurance [CRMA]
      • Doctor of Business Administration
      • Project Management Professional (PMP)
      • Certified in Production and Inventory Management (CPIM)
      • Fellow Programmes in Management from IIM’s
      • Data Science
      • Data Analytics

Role of a Digital Marketing Course after MBA

MBA graduates who pursue a digital marketing course after MBA can expect to earn a higher salary than those who do not pursue such a course.

Digital marketing courses provide MBA graduates with the skills and knowledge they need to succeed in today’s digital world.

A digital marketing course helps an MBA graduate in the following ways-

  • Learn about the latest digital marketing trends: MBA graduates who take a digital marketing course learn about the latest digital marketing trends. This helps them stay ahead of the curve and be more successful in their careers.
  • Gain practical experience: MBA graduates enrolling in a digital marketing course gain practical experience. This helps them better understand the concepts they have learned and makes them more marketable to employers.
  • Stay up-to-date with technology: A digital marketing course helps in staying up-to-date with technology. This allows them to use the latest tools and techniques in their jobs and be more successful in their careers.
  • Network with other MBA graduates: After MBA, a digital marketing course can help MBA graduates network with other MBA graduates. This can help them find job opportunities and advance their careers.
  • Get a higher salary: MBA graduates who take a digital marketing course after MBA can expect to earn a higher salary than those who do not take such a course. It optimizes your chances of getting the best in class international business salary in marketing management.

Conclusion!

Getting an MBA can have many advantages as it trains you with a few in-demand management skills that you can apply in the business world as well as the professional world.

An MBA degree can enhance your marketability as a professional and increase the quality and quantity of job opportunities.

Specialized MBA programs, i.e., those that offer concentrations, can be useful for students who are focused on a particular career or industry.

On the other hand, general MBA programs impart a wide range of skills that are useful in almost any job function or industry.

Want to up-skill your management career or entrepreneurial journey? An MBA is probably what you should go for!

In case you have any queries or feedback please share in the comments section below. Good Luck with your new journey.

FAQ

1. Which B- School students receive the highest starting salaries in India?

The B-School graduates which receive the highest starting salary figures in India are IIM Calcutta, SPIJIMR Mumbai, FMS Delhi, and MDI Gurgaon among others, which is above Rs 20 lakh per annum (LPA).

2. Which MBA program gives the highest salary?

MBA in General Management, Operations, Finance, Business Analytics, and Marketing are among the highest-paying MBA specializations.

3. What is the MBA starting salary per month in India?

The starting salary for fresh graduates per month in India can vary from around Rs. 2.5 Lakh to Rs. 4.25 Lakh per annum.

4. What are the factors based on which the salary package is decided by recruiters?

The factors based on which MBA students’ salary figures in India have decided include prior work experience, job role, industry sector and domain, location and company, and most important the ranking of the B-School from which the student has graduated.

5. Is the placement process conducted in all B-schools?

Yes, the placement process is conducted in all B-schools for both first and second-year students.

6. What is the importance of an MBA in India?

An MBA degree is valuable in India because of the country’s growing economy, entrepreneurial culture, and rapid adaptation to technology.

7. Who gets a better salary in India, MBA or M.Tech?

MBA or M.Tech, the choice entirely depends on individual aspirants. However, when it comes to the salary package, MBA graduates seem to have an upper edge compared to M.Tech.

8. Does MBA increase salary?

According to the Graduate Management Admission Council’s 2020 Corporate Recruiters Survey, MBA graduates will earn more than their colleagues without one.

9. Which MBA specialization is best for getting a job abroad

MBA in International Business and MBA in Finance are considered to be some of the best options to get a job abroad.

10. Can you apply for government jobs after your MBA?

Yes, MBA graduates can apply for government jobs. There are various jobs in government with good salaries for MBA freshers too.

11. What is the accreditation of MBA Programs in India?

Most MBA programs in India are accredited by AICTE or UGC however many MBA programs also have prestigious international accreditations.

12 . What is the MBA salary in India based on Indian cities?

The highest-paying market is Gurgoan, where the average wage is INR 7,50,000. With INR 7,30,000, Bangalore comes in second. The salary for an MBA is INR 7,32,000 in Mumbai and INR 6,90,000 in Delhi.

13. Which MBA has the highest salary?

The best-paying MBA specializations include MBA Finance, MBA Entrepreneurship, MBA Marketing, MBA Operations, etc.

14 . What is the highest MBA salary in India for the session 2022?

IIM Ahmedabad’s domestic packages had the highest MBA pay in India at INR 75.2 LPA.

However, the candidate’s choice of sector and specialization will determine the maximum MBA salary in India.

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