The Masters of Business Administration (MBA) is one of the most sought-after degrees in the world, especially in India. It is a postgraduate degree course that usually has a duration of about two years. There are numerous colleges in India and abroad that offer the programme and graduates are high in demand, internationally.
Before shortlisting a college, one needs to know their field of interest and the desired package that one is aiming at. A specialized MBA holds more value than a generic MBA with better annual compensation. The average MBA salary in India per annum is Rs. 4,50,000 when starting out. Read on to know everything you need to know about an MBA salary in India.
Bonus Read: List of Top MBA Specializations Offered in India
MBA Salary in India – Breakdown of Each Specialization
Choosing a specialized field is recommended as it helps a student to gain in-depth knowledge related to the area of specific interest.
1. MBA in Marketing Salary in India
MBA in marketing can help an individual in the field accelerate their interpersonal and communication skills, help them think out-of-the-box and enhance their leadership skills.
The job roles that an MBA in Marketing graduate can be eligible for are business marketing, digital marketing, retail marketing, brand management, product management and customer relationship management.
An MBA in marketing covers all aspects of marketing holistically and gives the student an understanding of traditional marketing methods.
As of 2021, the average to the highest salary of an MBA in Marketing graduate is anything between 7 to 25 lakh per annum. Marketing agencies, FMCG brands, E-commerce brands, retail brands, entertainment and financial firms are the main employers.
Top Institutes Offering an MBA in Marketing: IIM Calcutta, IIM Bangalore, IIM Ahmedabad, Indian School of Business Hyderabad, XLRI Jamshedpur and IMT Ghaziabad.
Some of the top recruiters for MBA in marketing graduates include Amazon, Vodafone, Hindustan Unilever, Samsung and Flipkart.
2. MBA in Digital Marketing Salary in India
Digital marketing is the future of marketing. From small businesses to established brands – everyone is turning to digital marketing especially since the pandemic has hit us.
An MBA in digital marketing will equip you with skills such as SEO, SEM, SMM, brand management, client servicing, email marketing and many more managerial skills.
MBA in digital marketing is the next big thing. It equips you with the strategy as well as all the technical skills required to be a successful digital marketeer.
An MBA graduate can expect an average starting salary of INR 5 lakh per annum depending on their job role. And the highest starting salary is INR 10 lakhs per annum.
Top Institutes Offering an MBA in Digital Marketing: IIDE, NMIMS & MET
Indian Institute of Digital Education
IIDE offers an MBA-level post-graduation program in Digital Marketing. It is an exhaustive 11-month program that offers guaranteed placement assurance with an average CTC of 4+ LPA*. The top recruiters include Reprise Media, iProspect India, Social Kinnect, Schbang and Resultrix.
Check this out: If you’re contemplating pursuing an MBA in marketing and digital marketing, here’s an ultimate guide on MBA in Digital Marketing vs Marketing.
3. MBA in Finance Salary in India
An MBA in Finance is one of the most in-demand MBA courses in India. An MBA in finance is a popular option as it brings with it a number of opportunities to students in the business and finance sector and helps them climb up the ladder.
The average salary for a prospective employee with an MBA in Finance is INR 7.5 lakh per annum and the highest placement has been INR 22 lakh per annum in 2021.
Top Institutes Offering an MBA in Finance: IIM Calcutta, IIM Bangalore, IIM Ahmedabad, NMIMS Mumbai, XLRI Jamshedpur and MDI Gurgaon.
Goldman Sachs, Morgan Stanley, JP Morgan, KPMG, Ernst & Young, Bain & Company are some of the top recruiters.
4. MBA in Human Resources Salary in India
As organizations increase their size and structure, with this comes the need for qualified HR professionals. The smooth functioning of all HR functions in an organization is absolutely essential.
With a growing need for human resource management in every sector, the demand for HR professionals has been on the rise and they can avail good packages.
An HR professional is needed across industries and the HR employee to company strength ratio has been on the rise with 1.4 full-time HR employees to 100 employees.
The starting average salary of an MBA in HR graduate is about INR 5,25,000 per annum as of 2021 and the highest starting salary is INR 8 lakhs.
Top Institutes Offering an MBA in HR: IIM Ranchi, NMIMS Mumbai, XLRI Hyderabad, MDI Gurgaon and Tata Institute of Social Sciences (TISS).
5. MBA in Business Analytics Salary in India
The conventional job roles with this degree are a data analyst, business analyst, marketing data analyst, data-mining expert, qualitative analyst, data warehousing and architecture.
The scope of an MBA in Business Analytics is rising and thus, you can take this up to add to your leadership skills.
The average salary for an MBA graduate in Business Analytics is 6,00,000 per annum whereas the highest is INR 18 LPA.
Top Institutes Offering an MBA in Business Analytics: NMIMS Mumbai, ISB Hyderabad, IIM Bangalore, Symbiosis Centre for Information Technology (SCIT) Pune and Welingkar Institute of Management Mumbai.
MNC, E-commerce firms, IT companies, financial consultancies, retail and manufacturing companies are some of the recruiters. Some of the top employers in India include Larsen & Toubro, Amazon, Reliance Group of Companies, American Express, Morgan Stanley and McKinsey and Company.
6. MBA in Entrepreneurship Salary in India
This degree would help one gain a holistic perspective to run a corporation or a business venture.
Job roles consist of managerial positions such as Chief Executive Officer (CEO), Vice President, Supervisor, Business Consultant and Executive depending on the level of experience.
With an MBA in entrepreneurship, one can think analytically and help with the direct growth of the company.
This specialization is perfect for senior managerial roles in fields such as finance, business management, human resources, account management and many more such areas.
The demand for an MBA in entrepreneurship has been on the rise with a starting average salary of Rs. 5,00,000 per annum and higher towards 20 LPA depending on work experience.
Top Institutes Offering an MBA in Entrepreneurship: Symbiosis Institute of Business Management, NMIMS Mumbai, XLRI Jamshedpur, S.P. Jain Institute of Management and Research Mumbai and IIM Ahmedabad.
Some popular recruiters include JP Morgan, Dell, Infosys, Wipro and Deloitte.
7. MBA in Operations Management Salary in India
The job roles for this type of degree include operations manager, business analyst, assistant manager, general operations manager and project manager. The need for this position can be in any sector from retail, automobile, IT to hospitality.
With companies beginning to realize the importance of operations management, the scope of an MBA in operations management has been on the rise.
An Operations Management MBA graduate from a well-renowned management institution earns an average of INR 8,00,000 per annum as of 2021. Freshers can expect an average salary of about Rs. 5 lakh per annum.
Top Institutes Offering an MBA in Operations Management: IIT Roorkee, IIT Bombay, IIT Chennai and VGSOM Kharagpur.
Some of the top recruiters in India are Maruti Suzuki, Blue Dart, Amazon and Wipro.
8. MBA in Information Technology Salary in India
The job roles for a graduate with an MBA in IT include information system managers, information technology directors, IT software project managers and program managers.
With the immense growth in the IT sector in India, these roles are always in high demand.
An entry-level MBA in IT graduate can earn Rs. 5,00,000 p.a. With 1-4 years of experience, an MBA graduate can earn Rs. 577,793 per annum. The average salary for an IT Manager is around 12 lakhs.
Top Institutes Offering an MBA in Information Technology: Symbiosis Centre for Information Technology (SCIT) Pune, Jamnalal Bajaj Institute of Management Studies (JBIMS), IMT Ghaziabad, MDI Gurugram, K.J. Somaiya Institute of Management Studies and Research Mumbai.
Some of the top recruiters in India are Infosys, Accenture, Apple, Wipro, Disney, Microsoft and ESPN.
9. MBA in Event Management Salary in India
The job roles for an MBA in event management graduate include events manager, client servicing executive, area events manager, public relations officer, events marketing manager and trade manager. It equips the candidate with know-how and skills pertaining to large-scale events.
According to a person’s work experience and skills, the average salary of a graduate can range from Rs. 1.5 lakh per annum to Rs 18.5 lakh per annum.
Top Institutes Offering an MBA in Events Management in India: NMIMS Mumbai, IIFT New Delhi, NID Ahmedabad, and National Institute of Event Management Pune.
Some of the best recruiters in India include IDIB, Bajaj Auto, Reliance, WizCraft, Sita Conferences, Cox and King and 360 Degrees.
10. MBA in Healthcare Management Salary in India
MBA in healthcare management or MBA in hospital management has gained popularity in recent years. Some top institutes have a prerequisite of holding an MBBS degree.
This specialization offers a plethora of job opportunities such as Hospital CEO, Hospital CFO, clinical project manager, hospital administrator and healthcare finance managers.
The average salary for an MBA in healthcare management graduate ranges from INR 5 to 12 lakh per annum depending on previous work experience and qualifications.
Best Institutes Offering an MBA in Healthcare Management in India: Symbiosis Institute of Health Sciences Pune, Tata Institute of Social Sciences Mumbai, AIMS Institute Bangalore and Indian Institute of Health Management Research Jaipur
Some of the best recruiters in India include Fortis Healthcare Ltd., Reliance, KPMG, Apollo Hospitals, Infosys, AIIMS, Zydus and KPMG.
MBA Salary in India based on Experience
Experience is another crucial deciding factor when it comes to deciding your salary. Read on to know the salaries based on experience –
- Fresh Graduates with no experience
The average MBA starting salary with no experience is about Rs. 3,00,000 per annum. With growth and experience, the salary would increase.
- MBA salary with 3-4 Years Experience in India
With 1-4 years of experience, the salary can increase up to Rs. 4,00,000 per annum and more.
- MBA Salary after 5 Years in India
The average salary after 5 years of experience in India is about Rs. 8,00,000 per annum.
- MBA Salary with 10 Years of Experience in India
The average salary with over 10 years of experience in India is Rs. 14,00,000 per annum.
MBA Salary in India based on Qualifications
Qualifications play a major role in deciding your salary. Here is a list of MBA salaries in India based on qualifications –
- B.com + MBA Salary in India
The average salary per annum for a fresh MBA graduate is 7.25 lakh Rs. It is recommended to gain work experience of at least 2-3 years after B.com and get hands-on knowledge on the job and then pursue an MBA.
- BBA + MBA salary in India per month
BBA is considered a very lucrative degree and an MBA along with it adds value to your resume. If one pursues a BBA from a reputed IIM institute or NMIMS Mumbai, then one should expect 18,00,000 per annum.
- CA + MBA salary in India
With an MBA degree after pursuing CA under your belt, you can definitely climb the corporate ladder fast. Both degrees help enhance analytical skills. With an MBA, your leadership skills are polished as well. A well-experienced CA+ MBA graduate would earn around 20-25 lakh per annum.
- Executive MBA Salary in India
The average salary of a graduate with an Executive MBA would be 2.5 – 8 lakh per annum largely depending upon previous work experience and the institute.
High Paying Job Profiles for MBA Graduates
Given below are some of the high paying roles for MBA graduates along with an average income bracket as per Payscale.
1. Project Manager
Project management requires technical, analytical and managerial skills which makes an MBA graduate the perfect choice. Financial planning, team building, business strategy and project supervision is their job role. The average salary is about 9.5 lakh Rs. per annum.
2. Investment Banker
Investment bankers are some of the most highly paid professionals in India. Many companies have a prerequisite of having an MBA degree for being eligible to apply. A fresher’s base pay is around Rs. 9 lakh per annum.
3. Business and Strategy Consultant
This is a popular stream for MBA graduates with sufficient experience. The average salary for a business consultant is around Rs. 10 lakh per year.
4. Marketing Manager
Marketing managers are high in demand in every sector. They help a company grow leaps and bounds with marketing strategies and analysis. The average salary of a marketing manager is Rs. 7 lakh per annum.
Now that you’re aware of where the MBA salary in India stands, here are some factors that can influence your salary package.
Top 4 Factors That Determine Your Salary
- MBA Institution
Graduating from a good institute largely determines your salary package. An IIM institute in India guarantees a salary of anything between Rs. 8 lakh to Rs. 28 lakh per annum.
The ranking of your B-school plays a very important factor here. In today’s day and age, the environment is very competitive and cut-throat. The more prestigious your institution, the more likely you will secure a high salary package. One needs to carry out in-depth research on placement figures for each institute before securing a place.
- Work Experience
The number of years and relevant work experience is directly proportional to an MBA graduate’s salary package. The more years of relevant experience one has, the higher the package. Employers seek candidates who are loyal, have a vision and can help the company grow.
- Job Profile
The type of work profile also determines the kind of compensation that one would be offered. MBA graduates are hired in diverse sectors depending on their field of expertise and how they can help an organization grow and maximize its output. The kind of job profile would be directly linked to the return on investment post the MBA degree. Hence, one needs to have a clear idea of the kind of job profile they are looking for.
- Geographical Location
Although an MBA salary depends largely on the job role and qualification, it also depends on the location of the job. Different cities offer different pay scales based on crucial factors such as the cost of living and market value. Cities such as Delhi, Mumbai, Bangalore and Chennai offer the highest paid MBA jobs in India.
We have tried answering some of the common questions related to MBA and MBA salary in India.
FAQ – Frequently Asked Questions
Q. What are MBA alternatives in India?
A PGDM is a Post-Graduate Diploma program in Management offered by private institutions and is one of the most popular alternative degrees in India for an MBA. The eligibility, fee structure and syllabus of both programs are similar in nature.
Even though both MBA and PGDM graduates are offered similar job roles, there might be a difference in their salary packages. The average salary of an MBA graduate is 22,00,000 per annum and the average salary for a PGDM graduate is about 16,50,000 per annum.
Q. What is the scope of an MBA in India?
There is immense scope for MBA aspirants in India and it is increasing day by day. Most reputed colleges have placement cells that help their MBA students secure jobs in the country’s best blue-chip organizations. The recruiters have trust and good faith in these colleges built over the years.
Q. What is the minimum salary after MBA?
The starting salary for fresh graduates per month in India can vary from around Rs. 2,24,000 to Rs. 4,24,000 per annum. One can climb up the ladder faster as opposed to someone who does not hold an MBA degree.
Q. Which MBA specializations have more job opportunities?
MBA in Digital Marketing, Finance, Entrepreneurship, Marketing, and Management have the highest job opportunities after graduation.
To conclude, pursuing an MBA degree is a great way of upskilling and ensuring a secured future for yourself. The salaries are indicative of a bright future ahead.
Most MBA graduates pursue the degree to grab managerial opportunities to climb up the ladder within their field or to make a shift in their careers. The salaries are subjective and will depend on various factors such as experience, knowledge, location, etc.
We hope this blog has been an insightful read for you. Leave us your views/questions in the comments section below.