MBA, which stands for Master of Business Administration, is a highly sought-after professional degree program that focuses on business management and administration. It is a popular choice among students who wish to pursue a career in management or leadership positions in the corporate world. In this article, we will discuss what MBA is, the salary after MBA, factors affecting salary in India, MBA starting salary in India, MBA salary experience wise, and top skills graduates should have for a high salary.
What is MBA?
MBA is a one of the top courses after graduate degree that equips students with the necessary skills and knowledge to become successful managers and leaders. It is a two-year program that covers a wide range of subjects, including finance, marketing, human resources, operations, and management. The curriculum is designed to provide students with a comprehensive understanding of business management and prepare them for leadership roles in the corporate world.
Salary After MBA
The salary after MBA varies depending on various factors such as industry, company, location, and work experience. According to a survey conducted by PayScale, the average salary for an MBA graduate in India is around Rs. 8 lakh per annum. However, the salary can range from Rs. 3 lakh per annum to Rs. 20 lakh per annum depending on the factors mentioned above.
Factors Affecting Salary in India
The following factors affect the salary of MBA graduates in India:
The industry in which the graduate is working plays a crucial role in determining the salary. The IT and finance industries tend to pay higher salaries compared to other industries.
The size and reputation of the company also affect the salary. Top-tier companies tend to offer higher salaries compared to small and mid-sized companies.
The location of the company also plays a role in determining the salary. Metros and big cities tend to offer higher salaries compared to smaller cities and towns.
Work experience is another crucial factor that affects the salary of MBA graduates. Graduates with more work experience tend to earn higher salaries compared to freshers.
MBA Starting Salary in India
The starting salary for MBA graduates in India can range from Rs. 3 lakh per annum to Rs. 10 lakh per annum depending on the factors mentioned above. Graduates from top-tier B-Schools can expect a starting salary of Rs. 10 lakh per annum or more.
A table for MBA Starting Salary in India based on various industries:
|Industry||Starting Salary (per annum)|
|IT/Technology||Rs. 5 lakhs to Rs. 10 lakhs|
|Finance||Rs. 6 lakhs to Rs. 12 lakhs|
|Consulting||Rs. 6 lakhs to Rs. 14 lakhs|
|FMCG||Rs. 5 lakhs to Rs. 8 lakhs|
|Healthcare||Rs. 5 lakhs to Rs. 9 lakhs|
|E-commerce||Rs. 5 lakhs to Rs. 10 lakhs|
|Manufacturing||Rs. 4 lakhs to Rs. 8 lakhs|
|Telecom||Rs. 4 lakhs to Rs. 7 lakhs|
|Education||Rs. 3 lakhs to Rs. 6 lakhs|
|Retail||Rs. 3 lakhs to Rs. 6 lakhs|
Please note that the salaries may vary every year based on several factors like the economic condition, industry trends, and other such factors.
MBA Salary Experience Wise
The salary of MBA graduates increases with work experience. Graduates with 1-4 years of work experience can expect a salary of around Rs. 6 lakh per annum to Rs. 20 lakh per annum. Graduates with 5-9 years of work experience can expect a salary of around Rs. 10 lakh per annum to Rs. 30 lakh per annum. Graduates with 10+ years of work experience can expect a salary of around Rs. 20 lakh per annum to Rs. 50 lakh per annum.
Top Skills Graduates Should Have for a High Salary
The following are the top skills that MBA graduates should have to earn a high salary:
MBA graduates should possess strong leadership skills to manage teams and drive business growth.
MBA graduates should possess strong analytical skills to analyse data and make informed business decisions.
MBA graduates should possess strong communication skills to communicate effectively with stakeholders, clients, and team members.
MBA graduates should possess strong problem-solving skills to identify and solve complex business problems.
MBA graduates should possess strong interpersonal skills to build relationships and collaborate with team members.
The conclusion for salary after MBA in India is that it varies depending on several factors such as the reputation of the business school, area of specialization, level of experience, and industry. MBA graduates in India can expect to earn a higher salary than those without an MBA. According to a survey conducted by the Graduate Management Admission Council (GMAC), the median base salary for MBA graduates in India was Rs. 1,200,000. However, these figures can vary widely based on factors such as industry, job function, and location. It’s important to note that an MBA degree does not guarantee a high salary, but it can be an asset in helping you advance your career and increase your earning potential in India.
Author Bio – Hello! My name is Nikhil Singh, and I am a dedicated content marketer currently employed at Chegg India. My writing interests span various domains, such as education, travel, fashion, and food. In my free time, I enjoy discovering new experiences, trying different cuisines, and cherishing moments with my dear ones.