In 2024, MBA is considered a degree that helps you upskill in your current profession to a degree that you can automatically demand a higher salary in your next appraisal. In this blog, we will discuss MBA Salary in India in 2024 according to various classifications, factors affecting MBA Salary, and much more in detail.
According to Indeed, the average salary of MBA in India is between ₹6 lakhs and ₹23 lakhs per annum. This range reflects significant variations based on the B-school’s ranking, specialization chosen, and individual performance. In fact, the potential salary increase for an MBA graduate can be as high as 383%, highlighting the immense value an MBA holds for career growth.
Master of Business Administration or 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 program and graduates are high in demand, internationally.
This particular guide involves all the information that you will ever need for MBA Salary in India hence it might be a long read. To make it easier for you, we have divided salaries after MBA according to certain classifications.
- MBA Salary in India for freshers
- MBA Salary in India based on experience
- MBA Salary in India based on qualifications
- MBA Salary in India for specific specializations
- MBA Salary in India at top institutes
- MBA Salary in India for IIM graduates
Now, let’s get started with the blog!
Entrance Exams for MBA in India
Before heading towards MBA Salary in India, it is important to know how to start your MBA journey. Most of the institutes in India require applicants to take a particular entrance exam to understand their abilities and knowledge. Following are the top MBA Entrance Exams in India-
- CAT
- CMAT
- MAT
- XAT
- NMAT
- SNAP
- ATMA
- GMAT
MBA Aspirants must get the minimum required score to be able to get admission to their preferred institute.
MBA Salary in India for Freshers
Once you are an MBA graduate, there are a lot of work opportunities that you can apply for. The average MBA starting salary with no experience is about Rs. 3,00,000 per annum. With growth and experience, the salary would increase.
Freshers are expected to be equipped with good communication, presentation, and decision-making skills apart from complete knowledge of their specialization.
MBA Salary in India based on Experience
For those MBA graduates who have some amount of work experience, the expected salary is higher than for freshers. Here’s the list of MBA Salary in India based on experience.
- MBA salary with 1-4 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 has considered a very lucrative degree and an MBA and 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.
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.
| Specialization | Average Salary (LPA) | Range |
|---|---|---|
| MBA in Marketing | INR 7,82,000 | 7L-25L |
| MBA in Digital Marketing | INR 5,50,000 | 5L-25L |
| MBA in Finance | INR 7,30,000 | 7L-22L |
| MBA in HR | INR 5,20,000 | 5L-8L |
| MBA in Business Analytics | INR 5,40,000 | 5L-18L |
| MBA in Entrepreneurship | INR 5,50,000 | 5L-20L |
| MBA in Operations | INR 7,60,000 | 5L-10L |
| MBA in IT | INR 5,77,000 | 5L-12L |
| MBA in Event Management | INR 6,00,000 | 2L-18L |
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 2023, 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, and entertainment, and financial firms are the main employers.
(Source: Payscale )
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
The Scope of Digital Marketing is increasing day by day. 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.
An 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 marketer.
Dig Deeper– The what, why, where, and how of a career in digital marketing.
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.
(Source: Payscale )
Top Institutes Offering an MBA in Digital Marketing: IIDE, NMIMS & MET
Indian Institute of Digital Education
IIDE offers the best MBA in Digital Marketing in India. 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 2023.
(Source: Payscale)
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, and 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 2023 and the highest starting salary is INR 8 lakhs.
(Source: Payscale )
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 warehouse, 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.
(Source: Payscale)
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, and 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, and 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 2023. Freshers can expect an average salary of about Rs. 5 lakh per annum.
(Source: Payscale)
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.
(Source: Payscale)
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.
Now, let’s look at the MBA Salary in India after graduating from top institutes.
MBA Salary in India At Top Institutes
Top institutes offer placement assistance to MBA students with global businesses partnering to hire from their best lot. Hence, MBA Salary in India is highly dependent on the corporate network of the top institutes.
| Top MBA Institutes in India | Average MBA Salary (INR) | Top Recruiters |
|---|---|---|
| Indian Institute of Digital Education (IIDE) | 5.3 LPA | Kinnect, Times of India, Zomato, Tik Tok, One Plus India |
| NIIT University | 4.6 LPA | IBM, Morgan Stanley, Genpact |
| Lovely Professional University | 3.5 LPA | Bosch, Cognizant, Informatica, Capgemini |
| Regional College of Management | 8 LPA | ICICI Bank, Cognizant, Airtel |
| Taxila Business School | 6.5 LPA | Asian Paints, UpGrad, Berger Paints, CoolBoots |
| Symbiosis Institute of Digital and Telecom Management | 10 LPA | Fireworks, MindTree, Times Internet, Wipro Infotech |
How much is the MBA Salary for IIM Graduates?
IIMS always rank among the top MBA universities globally due to their quality of education and technology-driven training. Here’s the list of the top IIMs in India and their average MBA Salary in India-
| IIMs In India | Average MBA Salary (INR) | Top Recruiters |
|---|---|---|
| IIM Ahmedabad | 26.13 LPA | Boston Consulting Group, McKinsey, Tata Consultancy Services |
| IIM Bangalore | 33.16 LPA | Amazon, McKinsey, Microsoft, Paytm, Oyo Rooms |
| IIM Calcutta | 34 LPA | IIFL, Zomato, Nykaa, Amazon |
| IIM Indore | 25.01 LPA | Cipla, Deloitte, Bajaj, Hero, ICICI Bank |
| IIM Shillong | 23 LPA | Adobe, IBM, EY, Salesforce, Pepsico |
| IIM Lucknow | 31 LPA | Myntra, Landmark, African Industries Group |
| IIM Kozhikode | 22.5 LPA | Google, KPMG, Microsoft, EY |
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
(Source: Payscale)
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
(Source: Payscale)
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
(Source: Payscale)
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
(Source: Payscale)
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.
MBA Salary in India per month
Average MBA Salary in India is INR 40,000 per month however, it varies according to the specialization you opt for. The average salary of an MBA in Digital Marketing is INR 45,000 per month.
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.
Conclusion
To conclude, pursuing an MBA degree is a great way of upskilling and ensuring a secure 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.
Must Check Out: Careers After an MBA in Digital Marketing
We have tried answering some of the common questions related to MBA and MBA salary in India in 2024. We hope this blog on MBA Salary in India has been an insightful read for you. Leave us your views/questions in the comments section below.
FAQ – Frequently Asked Questions
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 MBA Salary in India for freshers?
The MBA Salary in India for freshers is INR 3,00,000 per annum on average. Your starting salary depends upon the industry average, skillset, and interview performance.
Q. Does MBA pay you well?
Since MBA helps you with an advanced education and soft skills training in your specialization. Hence, it pays much more than your previous job.
Q. Does MBA guarantee a job?
Only those MBA institutes that offer 100% placement assistance guarantee a job after graduation. For example, if you wish to do an MBA-level course in Digital Marketing, IIDE offers 100% placement services with Oneplus, Times of India, Kinnect, Schbang, Zomato, etc as some of their recruiters.
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 has the highest number of job opportunities after graduation.
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 INR 22,00,000 per annum and the average salary for a PGDM graduate is about INR 16,50,000 per annum.
![A Comprehensive Guide to an MBA in Digital Marketing in Sharjah, [year].](https://iide.co/wp-content/w3-webp/uploads/2023/08/DM-Courses-in-India-5-2-396x250.pngw3.webp)
In Ahmedabad, IIDE appears to provide a range of possibilities for digital marketing courses, including both online and offline programmes. Is there anyone here who has taken the digital marketing courses offered by IIDE? I would be curious to know your thoughts on the course material, teachers, and career assistance offered. I would also appreciate advice for any other respectable institutions in Ahmedabad that provide courses in digital marketing.
The article is really helpful whos looking to pursue an MBA in India. This article is a mirror image of your thoughts which offers the best guidance for all your doubts regarding MBA salaries in India. like what is the average salary of an MBA in India? Prospective students need to have realistic expectations regarding post-MBA earnings also structuring of market dynamics, industry-related work everything you all can get in this article. Additionally also provides the FAQs section incase of any queries.