Getting that dream career is never easy. There are always new courses to work on, new assignments to submit, new tests to take, and whatnot. This is why students are always looking for ways to make things simpler. And one way in which a student can make things simpler for him or her is to pursue an MBA degree.
By this, we don’t mean that pursuing an MBA degree is going to be a walk in the park. Instead, if you do decide to go down this path, then this might prove to be one of your biggest challenges. But if you stick it out and work hard, then it can also be very rewarding. We listed are the top 6 highest paying cities for MBA.
There are many reasons why getting an MBA is beneficial. One of those reasons is that it gets a student that big golden career. Further, if you are an MBA graduate, then that means that you can work in some of the best cities and get paid handsomely. If you want to know more about the highest paying cities for MBA graduates, then stay tuned. In this article, we will discuss everything that you should know about getting the best paying job after completing your MBA.
What is an MBA?
Before we move on to learn about the best cities for MBA graduates, it is first essential to look at what an MBA degree is. According to various experts, an MBA or Master of Business Administration is a graduate degree. This degree provides students with practical and theoretical training in the realm of investment and business management.
If a student wants to get a better understanding of how business functions and is managed, then getting an MBA degree is the best option. Many educational institutes offer MBA degrees with different specializations and focus. Some of those specializations include finance, accounting, relationship management, and marketing.
Also, on a side note, you might be interested to note that finance and marketing managers are in great demand in some of the highest paying cities for MBA graduates. In an MBA program, the focus is generally on providing students with a basic understanding of topics like management, finance, business law, and accounting.
The organizations in the best cities for MBA graduates are primarily looking for experts in their fields who already possess the right skills. This is why if you are an MBA graduate who has the skills required to recommend himself or herself, then half of your battle is already won. Having an excellent work ethic on top of that also works. Let’s talk about the highest paying cities for MBA graduates.
Salaries of MBA Graduates based on their Specialization
As we have mentioned before, there are many specializations that one can do along with his or her MBA degree. Hence, the total salary can differ quite a lot. However, we have created a list that could provide you with a general estimate of how much one can make in the best cities for MBA graduates based on the specialization. The list is mentioned below.
MBA in Finance
If a student finished his or her MBA degree with a specialization in finance, then he or she can pick from multiple industries. Some of those industries are corporate banking, credit risk management, corporate finance, asset management, private equity, hedge fund management, sales and trading, and treasury.
All of these industries provide an average salary of INR 678,000 to MBA finance graduates. This salary will increase as one grows in terms of expertise, knowledge, and experience.
MBA in Business Analytics
As an MBA graduate with a specialization in business analytics, one can find a stable job in sectors like healthcare, financial institutions, e-commerce, and information technology. All of these sectors exist in some of the highest paying cities for MBA graduates.
MBA in Marketing
Completing an MBA in marketing also opens up a lot of options and roads. One can choose from a number of different sectors to work in. For example, some of the most popular sectors for an MBA in marketing graduates are online marketing, business marketing, analytical marketing, competitive marketing, customer relationship marketing, retail marketing, brand and product management, and advertising management.
According to sources, it has also been observed that people in this domain tend to get promoted quickly. There are a lot of opportunities to grow. And one can easily make around INR 752,000 in some of the best cities for MBA graduates as a fresher with almost zero formal experience
MBA in Resource Management
In the last few years, the job profile of an HR manager or Human Resource Manager has gained a lot of popularity. This has been for all the right reasons. In this day and age, a human resource manager can easily find great career opportunities in sectors like law firms, IT companies, newspapers, media houses, advertising, and retail organizations.
According to various sources, an MBA graduate with a resource management specialization can easily draw a salary of INR 603,000 right out of college. This salary will increase as one gains more experience. Experienced human resource managers can easily make around 10,000,00 or more.
MBA in Operation Management
Completing an operation management specialization can often fetch great salary packages for individuals working in some of the best cities for MBA graduates in India. Some of the sectors in which one can work are logistics, transportation, retail, manufacturing, hospitality, financial institutions, construction, information technology, and management consulting.
Also, the average salary that a student can get after completing this degree is around INR 802,000. One can also work overseas and climb the ladders of his or her successful career.
MBA in Management Consultant
Working as a management consultant can be very exciting and rewarding, as this role can have multiple profiles. One would usually have to interact with customers and other professionals from several different backgrounds.
This job profile would be best suited for individuals who are confident and great decision-makers. The average salary for an individual with this degree is INR 1,144,591. This is quite impressive.
MBA in International Business
A student with this degree won’t just have access to incredible opportunities for working in some of the best cities for MBA graduates in India. But they can also work in international offices and make their country proud.
Students with an MBA in international business often are amazing business planners. They can quickly get a job with an average of around INR 788,000. Further, there are a lot of opportunities to grow and break the ceiling.
Apart from these specializations, there are also many other majors that one can take to get access to a fantastic career.
The Highest Paying Cities for MBA Graduates
Now, finally, for the moment that you have been waiting. In this section, we will be talking about the best cities for MBA graduates in India. Those cities are mentioned below.
Gurgaon or Gurugram is a sprawling city that is located just southwest of Delhi. This city is widely regarded as being the technological and financial hub of North India. This city has almost everything to please everyone, irrespective of their taste.
Because of all these reasons, it should not be surprising that Gurgaon offers some of the highest salary packages to MBA graduates. One can easily make INR 750,000 in this city making it one of the highest paying cities for MBA graduates.
When there is any discussion about the highest paying cities for MBA graduates, then the list can never be complete without mentioning Bangalore. Bangalore is a beautiful city that is also known as Bengaluru. It is rightly called the centre of India’s high-tech industry.
Many professionals also refer to this city as being the Silicon Valley of India. Finding a great for incredible talent is not that difficult. And MBA graduates can get an average salary of INR 730,000 making it one of the highest paying cities for MBA graduates.
Mumbai is often called the city of dreams. And if your dream was always to become a management specialist, then this city can fulfil that dream too. In Mumbai, management experts can make around INR 732,000 making it one of the highest paying cities for MBA graduates. There are a lot of sectors that one can get into. Further, the work environment in the organizations located in Mumbai is also quite exceptional.
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Delhi is the capital city of India, and it is a humongous metropolitan area. Many claims that if you can’t find something in Delhi, then the chances are that you will never find it anywhere else in India either.
Delhi has a lot to offer. And if you are an MBA graduate, then this city can offer pretty irresistible salary packages. A management student fresh out of college can easily find a job with an average pay of INR 690,000 making it one of the highest paying cities for MBA graduates.
Chennai, Tamil Nadu
Chennai is widely known as the capital city of the state of Tamil Nadu. This city is home to a lot of religious and cultural sites. This should not be surprising as it has a rich heritage. The salaries for MBA graduates are also quite good in this city. And one can make around INR 600,000 making it one of the highest paying cities for MBA graduates.
Pune is a gem of a city that is located in Maharashtra. This city has a number of historical monuments and can provide anybody with an exciting life. Working in Pune is often a dream for many. Thankfully, if you are one of those people, then you can make this dream come true while making good money. The average salary for MBA graduates in Pune is INR 620,000.
With this, we end our list of the highest paying cities for MBA graduates.
Also Read: Best MBA Courses in India
These are the top highest paying cities for MBA. Getting an MBA degree can be challenging but also fun. However, the real journey starts when one steps into the professional world. Thankfully, if a student chose to pursue an MBA degree, then he or she would have limitless options.
If one is willing to relocate, then what is better than going to a city where you can learn about their customs, culture, and values while also having a great career? We will say goodbye for today by leaving you to these thoughts. Until next happy, happy job hunting!
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.
Why is the cost of living different across cities?
If you choose your post MBA job in a new city, you certainly need to understand in-depth how much it will cost to live there. There are a few factors that combine and make the cost of living. They include housing, transportation expenses, food, and entertainment costs. All of us have a lifestyle and maintaining it can be vastly different across places. This happens because the cost of basic goods and services is different from one city to the next. How easily these goods are available in a city can immensely differ from others.
How is the cost of living and salaries connected?
Cost of living and income have a nexus. The cost of living is broken into some segments. Housing expense is the largest expense, irrespective of whether it is a mortgage or rent, combined with property tax. Travel and groceries will also influence your cost of living. The next expense is entertainment. Hence, the city you live in will determine your expenses. Keeping this consideration, employers alter salaries based on cities. The salary is higher in cities with high cost of living.
What are the factors to be considered before taking up a job after MBA?
There are many factors to consider before signing up for a job. Some of them include organisation, job profile, salaries, and job location. You must understand how the job location is going to impact your monthly savings. You must get more clarity on rent, fuel, travelling to your hometown, etc., to ensure you have a peaceful personal environment while working. So you need to assess your situation and priorities. You need to find out which city meets your career goals the most. For instance, Gurgaon is regarded as the technological and financial hub of North India. Bangalore is a high-tech industry. Mumbai offers you opportunities to become a management specialist.