MBA Salary In India: 2022 Career Scope & Placement Packages - Digital Vidya

MBA Salary in India: 2022 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 starting Salary in India offered is directly proportional to the qualification and experience of the candidate.

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-

  • The last year’s placement report of IIM Ahmedabad suggests that the highest salary offered was Rs 55.88 lakh per annum and the International salary was Rs 1.32 crore per annum.
  • The average salary for a lower-ranked institute like Xavier Institute of Management (XIMB) is Rs 14.6 Lakh per annum and the Institute of Management Technology (IMT), Ghaziabad is Rs 11 Lakh per annum.

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.

MBA is offered under various specializations amongst which the popular ones are MBA in Finance, Sales and Marketing, Human Resources, Business Analytics, International Business Management, and Entrepreneurship.

Based on the 2020-2021 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 India in Finance

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 average salary for MBA in Finance in India is Rs. 678,000 per annum. The salary increases with the growth in experience and knowledge of the industry.

MBA in Sales & Marketing Salary in India

MBA in Sales & 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.

The Bureau of Labor Statistics (BLA) predicted a rise in demand for marketing jobs and states that by the year 2026, the requirement for PR specialists will increase to 9%, 10% for content marketers and marketing managers, and 23% for market research analysts.

According to Payscale, Marketing candidates’ average salary for MBA graduates is Rs. 752,000 per annum.

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 in Information Technology Salary in India

MBA jobs after MBA in Information Technology are abundant with good salary packages in India.

This course after MBA does not restrict students to one particular field instead allows students to explore their career options in a wide range of areas.

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.

The average salary for an IT Manager in India is around Rs 12 Lakhs per annum.

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.

The average salary of MBA Business Analytics professionals in India is Rs. 11 Lakhs per annum with starting salary in India per month around Rs 40,000- Rs 65,000.

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

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.

The starting salary in India for an MBA Operations graduate is around Rs 8 to 15 Lakhs per annum depending upon the qualifications & experience.

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.

The average starting salary in India for MBA graduates in Logistics & Supply Chain is Rs 6.5 Lakh per annum.

Major recruiters who hire people with an MBA degree in logistics and supply chain management are:

  • Amazon
  • Walmart
  • Army
  • Navy
  • Frito-Lays
  • Coco-Cola
  • Cadbury
  • Nestle
  • Intel
  • Apple
  • Google
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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.

The demand for an MBA in entrepreneurship has been on the rise with a starting average salary of Rs 5 Lakh per annum to Rs 20 Lakh per annum depending on work experience and qualifications.

MBA in Event Management Salary in India

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

The average salary of MBA Jobs after Event Management in India is Rs 4.5 – 15 Lakh per annum depending upon the organization & the experience of the candidates.

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, the average salary after an MBA is around Rs. 15 lakhs per year.

However, MBA graduates can earn much higher salaries if they choose to work in certain industries, such as management consulting or healthcare management.

MBA graduates who pursue a career in data science can also expect to earn a high salary, as the demand for data scientists is increasing rapidly in India.

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 the salary after MBA is just one of the many factors that you should consider when choosing whether or not to pursue an MBA.

Other important factors that affect salary are- the cost of the MBA program, your career goals, and your personal preferences.

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.

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.

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.

For example, the average salary of the glorious Indian Institute of Management (IIM) stands between Rs 8 Lakh per annum to Rs 28 Lakh per annum.

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 placement figures for each institute before securing a place or applying for admission.

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:

  1. The Indian Institute of Management (IIMs)
  2. Indian School of Business (ISB)
  3. The Xavier School of Management (XLRI)
  4. The Narsee Monjee Institute of Management Studies (NMIMS)
  5. The Symbiosis Institute of Business Management (SIBM)
  6. The Institute of Management Technology (IMT)
  7. The Mudra Institute of Communications (MICA)
  8. The Loyola Institute of Business Administration (LIBA)

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 salary of an MBA graduate in India:

Fresh Graduates with Zero Experience

The average MBA job starting salary in India with zero experience is about Rs 3 Lakh per annum to Rs 5 Lakh per annum.

MBA Salary in India with 3-4 Years Experience

With 1-4 years of industry experience, the salary can increase up to Rs. 5-7 Lakh per annum and more.

MBA Salary after 5 years in India

MBA graduates in India can expect to earn a starting salary of around Rs.12-18 lakhs per year. 5 years later, MBA salaries in India tend to increase to anywhere between Rs. 30-50 lakhs per year.

Of course, these figures will differ depending on the company that you work for, your role and responsibilities, and your level of experience.

MBA salaries in India also tend to differ depending on which city you work in. For instance, salary in India would be higher in Mumbai than in any other city.

Salary also varies with the chosen stream for the MBA program. For example, an MBA finance salary in India is higher than an MBA marketing salary in India. Mba marketing fresher salary in India is also offered higher than MBA in HR.

Bcom+mba salary in India per month is offered around 50-60 thousand rupees in the beginning while bba+mba salary in India per month is offered around 40-50 thousand rupees.

As per stats, the salaries after MBA in India per month in 2021 were around Rs. 60,000 to Rs. 1,00,000 for MBA graduates.

The highest MBA salary in India is around Rs. 55.88 Lakh per annum for IIM Ahmedabad MBA graduates.

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.

  • Gurgaon, Haryana is the highest paying market capacity with MBA graduates being offered salaries averaging Rs 8 Lakh per annum.
  • Bangalore, Karnataka is the second most paying market, with MBA graduates being offered salaries averaging Rs 7.5 Lakh per annum.
  • In Mumbai, Maharashtra, MBA graduates get an average salary of Rs 7 Lakh per annum while in the capital city of Delhi, around Rs 6.5 Lakh per annum is offered.

Top Paying Jobs for MBA Graduates

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

Investment Banker

The National Average Salary of an Investment Banker in India is around Rs 5 Lakh per annum.

Management Consultant

The National Average Salary of a Business/Management Consultant in India is around Rs 5.5 Lakh per annum.

SAP Consultant

The National Average Salary of an SAP Consultant in India is around Rs 7.5 Lakh per annum.

Product Manager

The National Average Salary of a Product Manager or project manager in India is around Rs 7.2 Lakh per annum.

Chief Technology Officer (CTO)

The National Average Salary of a Chief Technology Officer (CTO) in India is around Rs 9-10 Lakh per annum.

Data Analyst

The National Average Salary of a Data or business Analyst in India is around Rs 7.3 Lakh per annum.

Chief Finance Officer (CFO)

The National Average Salary of a Chief Finance Officer (CFO) in India is around Rs 10-11 Lakh per annum.

Finance Manager

The National Average Salary of a Finance Manager in India is around Rs 6 Lakh per annum.

Operation Analyst

The National Average Salary of a Chief Finance Officer (CFO) or operations manager in India is around Rs 4.2 Lakh per annum.

Marketing Manager

The National Average Salary of a Marketing Manager in India is around Rs 7 Lakh per annum.

Top 10 Highest Paying Companies in India for MBA Freshers

  • Google
  • Accenture
  • Tata Consultancy Services
  • Cognizant Technology Solutions
  • IBM
  • Infosys
  • Intel
  • CISCO
  • Microsoft
  • Amazon

Courses After an MBA

With the number of people enrolling for General MBA increasing every year, many candidates are also looking for alternative courses after MBA that will help them stand apart from the crowd.

These courses have a wide range of implementation in the workplace and will help you improve holistically.

The benefits of doing an educational 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 best in class international business salary in marketing management,

Conclusion!

Getting an MBA can have many advantages as it trains you with a few critical 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.

FAQs

Q1. Which B- School students receive the highest starting salaries in India?

A1. 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).

Q2. Which MBA program gives the highest salary?

A2. MBA in General Management, Operations, Finance, Business Analytics, and Marketing are among the highest paying MBA specializations.

Q3. What is the MBA starting salary per month in India?

A3. 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.

Q4. What are the factors based on which the salary package is decided by recruiters?

A4. 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.

Q5. Is the placement process conducted in all B-schools?

A6. Yes, the placement process is conducted in all B-schools for both first and second-year students.

Q6. What is the importance of an MBA in India?

A6. An MBA degree is valuable in India because of the country’s growing economy, entrepreneurial culture, and rapid adaptation to technology.

Q7. Who gets a better salary in India, MBA or M.Tech?

A7. 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.

Q8. Does MBA increase salary?

A8. According to the Graduate Management Admission Council’s 2020 Corporate Recruiters Survey, MBA graduates will earn more than their colleagues without one.

Q9. Which MBA specialization is best for getting a job abroad

A9. MBA in International Business and MBA in Finance are considered to be some of the best options to get a job abroad.

Q10. Can you apply for government jobs after your MBA?

A10. Yes, MBA graduates can apply for government jobs. There are various jobs in government with good salaries for MBA freshers too.

Q11. What is the accreditation of MBA Programs in India?

A11. Most MBA programs in India are accredited by AICTE or UGC however many MBA programs also have prestigious international accreditations.

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