How much can you earn in business administration? If you’re wondering the same thing, you’ve come to the right place because, in the following article, we’ll look at the average business administration salary in India.
We’ll also look at some of the highest-paying roles in this field to see how lucrative a career in business administration is:
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What is the Average Business Administration Salary in India?
The average business administration salary in India is INR 4.75 lakh per annum. Their pay starts from INR 1.65 lakh per annum and goes up to INR 10 lakh per annum. Your pay in this field depends on multiple factors such as your experience and the city you work in.
Hence, if you want to accelerate your career growth as a business administrator, it would be best to focus on enhancing your expertise and gaining professional experience. For example, entry-level business administrators earn 42% less than the average while early-career professionals in this sector earn 36% less than the average.
To be more specific, a business administrator with less than a year’s experience earns INR 2.75 lakh per annum on average while those with one to four years of professional experience in this field earn INR 3 lakh per annum on average.
As you can see, experience plays a huge role in determining what you’ll earn as a business administrator. Another factor that has a huge impact on your business administration salary in India is the city you work in.
Every city has a different cost of living, which is why their average business administration varies from one place to another. For example, business administrators in Bangalore earn 47% less than the national average. In terms of benefits, business administrators usually enjoy medical, dental and vision-related benefits as part of their perks.
By knowing and understanding the impact of these factors, you can plan your career more accurately and have a better idea of what you can do to get ahead in this field.
What Does a Business Administrator Do?
A business administrator is responsible for overseeing the business activities of an organization and ensuring that they function efficiently. They usually act as an intermediary between the employees, stakeholders, and customers.
Business administrators are responsible for creating short and long term business plans and strategies for their organization to increase sales and boost growth.
They work with various department heads to ensure the company runs like a well-oiled machine. This means they must be proficient in multiple aspects of management and administration and have an in-depth knowledge of these fields.
A business administrator might have to perform human resources tasks, provide staff training, create budgets, offer administrator support, and perform various other tasks.
Apart from these tasks, their daily tasks include record-keeping, answering telephone inquiries, writing & organizing documents, and keeping a close eye on all administration-related matters. The business administrator has to inform the upper and lower-level management about the recent changes in the company.
They review and evaluate budget proposals and represent the company to clients and other businesses for sales and negotiations.
As part of their HR duties, business administrators have to hire and manage a team of supervisors, employees, and volunteers. Business administrators must ensure that their staff completes their projects punctually and efficiently as they themselves are held responsible for the performance of their subordinates.
They work in a typical office setting during conventional work hours however, they might have to work overtime occasionally depending on their organization’s requirements. Certainly, the role of a business administrator carries a lot of responsibilities, which is a big reason why it attracts such lucrative a high business administration salary in India.
High Paying Careers in Business Administration
Business administration is quite a broad field and it’s not limited to one role. It would be unfair to talk about business administration salary without talking about the best-paying roles of this field.
Although your progress in this field depends a lot on your qualifications and expertise, your growth prospects would certainly be bright if you put in the required effort. In the following points, we have shared some of the highest-paying business administration careers so you can understand just how fantastic this field is and why it’s worth pursuing a career in:
The average pay of a finance manager in India is INR 9.92 lakh per annum, including shared profits, bonuses, and commissions. Their pay starts from INR 3.5 lakh per annum and goes up to INR 20 lakh per annum depending on their experience and expertise.
Finance managers with one to four years of professional experience earn INR 7.3 lakh per annum while those with five to nine years of experience earn INR 10 lakh per annum on average, which indicates that the most influential factor that determines your pay here is your experience.
What Does a Finance Manager Do?
Finance managers are responsible for developing and monitoring departmental budgets within their organization. They have to analyse and predict the financial requirements of their company and plan the budget accordingly. Finance managers work with operations managers to find areas for cost reductions and improvement.
Finance managers have to create reports on various financial matters of the company and keep track of all the expenses their organization makes to ensure they don’t go over the budget.
A sales manager earns an average salary of INR 4.88 lakh per annum. Pay for this role starts from INR 2.48 lakh per year and goes up to INR 10 lakh per annum. Your expertise in different aspects of business matters a lot in determining your pay here.
Sales managers with business development skill earn 40% more than the average. Other skills that offer above-average pay in this field are:
- Sales Management (4% more than the average)
- Customer Relationship Management (4% more than the average)
- Strategic Sales (3% more than the average)
What Does a Sales Manager Do?
A sales manager is responsible for managing the sales activities of an organization. They work with a team of sales executives and ensure that their team achieves the sales goals of their company. This role requires one to have strong interpersonal and communication skills because sales managers have to interact with new and existing clients constantly.
Sales managers must grow their profits while ensuring that their customers are satisfied. They are also responsible for the productivity of their sales team so they must motivate and lead them accordingly.
Corporate Strategy Manager
A corporate strategy manager earns an average salary of INR 19.7 lakh per annum in India. Pay for this role ranges from INR 6.26 lakh per annum and goes up to INR 30 lakh per annum. It’s certainly among the highest-paying business administration roles and requires a lot of experience and expertise.
Skills that help you get higher pay in this role are:
- Strategic Planning (16% more than the average)
- Strategic Development (16% more than the average)
- Business Strategy (6% more than the average)
What Does a Corporate Strategy Manager Do?
Corporate strategy managers are responsible for organizing and determining their strengths and weaknesses. They have to make recommendations to improve the organization according to the internal and factors.
This role requires strong analytical and problem-solving skills. Corporate strategy managers have to align department goals and processes with the organizational strategy and identify threats to the company. They must also monitor the different projects underway within their organization and report on the same.
Accounting managers earn an average salary of INR 7 lakh per annum. Their salaries start from INR 2.23 lakh per year and go up to INR 20 lakh per annum including bonuses and shared profits.
Accounting managers with less than a year’s experience earn INR 3.75 lakh per annum while those with one to four years of experience make INR 4.95 lakh per annum on average. On the other hand, accounting managers with 10+ years of professional experience earn INR 8.23 lakh per annum on average.
What Does an Accounting Manager Do?
An accounting manager has to gather, analyse, verify and report financial information. They work with a team of management professionals and have various responsibilities.
Accounting managers hire train, and coach subordinates. One of their primary duties is to prepare and regulate budgets while scheduling expenses and performing corrective actions if any budgetary issues occur.
They have to keep a close watch on the organization’s financial health through monitoring expenses and revenue. Accounting managers work with other finance professionals to help create the organization’s future budgets.
With sufficient experience and expertise in business administration, you can pursue senior roles such as management consultant in the industry as well. A management consultant earns an average salary of INR 11.2 lakh per year in India.
Management consultants with less than a year’s experience earn INR 6.45 lakh per annum while those with one to four years of experience earn INR 8.72 lakh per annum. Similarly, management consultants who have five to nine years of experience make INR 13 lakh per year. Those with 10+ years of experience earn anywhere between INR 19.5 to 23 lakh per year on average.
What Does a Management Consultant Do?
The role of a management consultant has a ton of responsibilities. Management consultants are business experts who help their clients in solving complicated problems. They focus on understanding their client’s requirements and provide them with strategies and solutions to combat the challenges they face.
Management consultants might interview their client’s staff and management teams to figure out their client’s unique problems and requirements. They also conduct regular meetings with the organization’s stakeholders and staff.
This role requires strong analytical, problem-solving, and interpersonal skills as one has to interact with multiple people and formulate solutions to large and advanced business problems.
The average business administration salary in India is quite impressive. Moreover, the growth prospects in this field are marvellous and with the necessary skills and experience, you can easily bag high-paying jobs in this industry.
If you want to pursue a career in business administration, you should check out our Global MBA course. It will equip you with the required knowledge to become a business administration professional.
If you are keen on upgrading your career with an Executive MBA course, upGrad is offering the MBA(Executive) program in collaboration with the NMIMS Global Access School. The program has been designed to stand at par with the best on-campus Executive MBA programs across the globe.