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Top 5 Highest Paying Jobs for MBA Graduates in India [A Complete Guide]

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21st Sep, 2022
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Top 5 Highest Paying Jobs for MBA Graduates in India [A Complete Guide]

In my experience, salary is directly linked to qualifications and experience. While experience takes time to develop, a strong educational background is crucial. An MBA is particularly promising in this regard. I’ve learned more about MBA salary in India. 

Companies often favor MBA graduates for management, finance, and other roles. They believe MBAs understand the business world intricately and think analytically. While we are well-compensated, the highest MBA salary in India depends on various factors. 

An MBA has equipped me to foresee market trends, make sound judgments, develop leadership skills, and identify talent. Overall, we are valuable assets to organizations. Attending a globally reputable institution further enhances our chances of landing a lucrative package. 

So, what are the highest-paying jobs for MBA in India? 

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What is an MBA  

An MBA, or Master of Business Administration, is a postgraduate program covering academic and practical business and management areas. It is intended to provide students with the information and abilities needed to excel in leadership positions in various organizations. The MBA program aims to offer students skills in accounting, financing, advertising, human resources, operational management, and strategic leadership, among others. 

What are the Benefits of doing an MBA? 

A Master of Business Administration can provide numerous career and personal benefits. Here’s why I highly suggest it to anyone who is considering navigating this path: 

Career Benefits:  

  • Improved earning potential: MBA graduates earn much more than those with bachelor’s degrees. According to studies, an MBA top salary in India is usually 77% higher than that of a normal bachelor’s degree holder.
  • Career growth: An MBA provides you with the expertise and abilities required for managerial positions, opening the door to raises and senior-level jobs within your present company or across several enterprises.
  • New career prospects: An MBA can help you shift into new industries or roles in the corporate world. You can use your greater expertise to look into areas where you lacked experience or the required skillset earlier. 
  • Wider network: MBA degrees bring together outstanding learners, former students, and faculty, resulting in large professional connections that can offer crucial career guidance, supervision, and job possibilities.
  • Improved business abilities: Through challenging coursework and projects, you will inherit diverse skills required for business achievement. These skills include logical thinking, problem-solving, interpersonal interaction, financial evaluation, decision-making, and leadership.

Personal Benefits:  

  • Increased confidence: Obtaining an MBA can increase your sense of self-worth because you’ve accomplished a demanding course of study and learned essential skills.
  • Personal development: Besides business expertise, you learn deeper perspectives on other industries, traditions, and global concerns, which encourages immense personal growth and enriches your daily experiences.
  • Stronger interaction: An MBA program emphasizes efficient interaction, which improves your communication, discussions, and creative writing skills, all influencing your career and personal lives.
  • Entrepreneurial possibilities: An MBA provides you with the necessary tools and expertise to start your own business, encouraging a drive to succeed and gain independence.
  • Lucrative career: Did you know the highest salary of MBA in India can go up to INR 1.15 Crore per annum! With ample experience and fluency with in-demand skills, you can also claim a high-paying career with an MBA.  

Highest Paying Jobs for MBA Graduates in India

1. Investment Banker

Investment bankers are involved in raising money in capital markets and providing financial advice for both private companies and the government. You can count on them to help out with mergers, acquisitions, and staying informed about great investment options. MBA graduates who wish to pursue this career path would have to choose their subjects with a focus on finance. And while the pressure might be immense, those who roll with it enjoy the job for the thrill of it all and the paycheck that comes with it.

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In India, the salary of an investment banker can be anywhere between 6 lakh to more than a million, depending on the company and his/her level of experience. Goldman Sachs, for instance, is one of the highest payers in the market. While the salary is attractive, the incentives in this field are the big draw. Consider the hefty bonuses, profit sharing etc. and it is undoubtedly one top paying MBA jobs in the market today.

2. Project Manager

Most MBA graduates are hired as project managers in top companies. A project manager is required to be involved in all aspects of a project. Right from planning and strategizing to making financial projections and building a team, the complete and proper execution of a project rests in the hands of a project manager, and therefore, MBA graduates are usually the first choice. The managerial skills, communication and goal-oriented attitude all add up, making them ideal for such a role.

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Project managers with experience can earn up to 20 lakh per annum. The number can go up in tier-1 cities.

3. Consulting

Business Consulting and Strategy Consulting are two of the hottest jobs in the market for MBA graduates. Forecasting trends, analyzing numbers, pitching to the client, and the demands of the job are quite exciting and varied. What’s more, there is a very well-defined career path to follow. An MBA graduate that joins as a manager has an open window to turn into a partner, and this need not take forever.

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While the initial remuneration may not be very high, the structure at these organizations allows a candidate to grow. At the partner level, you may rake in more than 45 lakh. It is, therefore, definitely one of the highest-paying jobs for MBA graduates across the globe.

4. Business Development Manager

A role that allows you to put your best managerial skills forward lives up to that MBA fame. A business development manager is responsible for the planning and strategies that assist the growth and expansion of a business. It requires one to be very aware of the current state of the industry to determine the best way to move it forward.

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Being a person with excellent communication and analytical skills are some of the key essentials of this job. New employees may be offered something around 5 or 6 lakh. However, with an increase in experience, this figure may go up to 15 or 16 lakh per annum.

5. Marketing Manager

One of the most exciting fields to be in today is marketing. Selling a product is not just about pushing a discount anymore. Marketing today is so much more than just making a sale for the sake of it. It requires an in-depth understanding of consumer behavior, market trends, expectations, the ability to conceptualize marketing campaigns and so much more. An ever-changing and dynamic field, marketing is one of the most popular areas of work today, and a marketing manager is quite the sought after role.

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Essentially, marketing deals with people and therefore, a marketing manager must be able to work with a large team and share a good rapport with everyone. Analytical thinking, innovation and strategizing are all a given of course. The salary of a marketing manager can go up to 20 lakh per annum, and this number could increase depending on the company and experience. It is not only one of the top-paying MBA jobs in India but also quite popular for the nature of the work itself.

The number of salaries written above is an approx estimation of the average salary. Different companies may offer higher or lower than these salaries to a freshly graduated MBA student. But apart from being a fresher, there are some influential factors that impact the salary package an MBA student may get. Let’s find out what those that can help you get the highest salary of MBA in India.

  1. Higher Scores in CAT/GMAT:

A high score on the CAT/ GMAT assures that you will be able to enrol yourself in one of the top business schools in India or abroad. A top-ranked business school can catapult your career greatly by making you stand out in the crowd of thousands of MBA graduates. 

From an international survey done by Forbes, it can be found that there is a strong correlation between GMAT scores and MBA salary. Candidates who were able to score 550+ in their GMAT were able to get admitted to the top 60 European business schools. Post-MBA the average salary of these students were around $152,000. Especially if you are a fresher and have no relevant working experience for the job you are applying for, this factor will majorly influence your starting salary.

The same goes for India. The higher your scores are in CAT, the better business schools you’ll get to choose and achieve the MBA highest salary in India.  If not major but the top IIMs in India also show a slight difference in their average domestic CTCs. Where the average domestic CTC of IIM Ahemdabad is approx Rs. 26.13 lakhs per annum, the numbers drop to almost half at 13.12 for IIM Nagpur. 

  1. Chosen Industry and work profile:

As mentioned earlier, a broad spectrum of industries hires MBA graduates to handle different managerial roles. It can be finance, healthcare, Information Technology, Retail, Hospitality and many more. Different industries along with different job profiles offer different pay.

Before niching down to a particular MBA specialization, you need to understand that not all domains are able to help you achieve the highest MBA salary in India or abroad. 

Looking at the current circumstances, it can be found that, in 2022, the industries that are paying the highest to the MBA graduates in India and abroad include consulting, financial services, technology, healthcare and media and entertainment. Hence, if you want to crack the highest salary of MBA in India or abroad, you need to focus more on these. 

  1. Prior work experience:

MBA is a degree that is not bound by any limit. Candidates who are fresh undergraduates to working professionals, anybody could enrol for the degree. On one hand, this is an absolute great benefit, however, on the other, it may become a hurdle for few in achieving the highest MBA salary in India

A mid-career graduate is more prone to get a high-income salary than a graduate who has experience of less than a year, simply due to the fact that they have both the degree and working experience. 

Due to this reason, some top-rank business schools might also give extra points to applicants who have a minimum of 3 years of working experience in relevant fields. MBA is a great degree to boost someone’s career, hence, if your aim is to hit the highest salary of MBA in India then having some relevant experience is quite helpful. 

  1. Geographical location

Your post-MBA salary will also be highly dependent upon the country or state you live in. To be precise, some states or cities in India hold higher chances of getting better pay. For instance, if you look for the top 6 highest paying cities for MBA grads, you will find Mumbai, Delhi, Gurgaon, Bangalore, Chennai and Pune in that list. 

There is no hard and fast reasoning behind it, but can be assumed that the cost of living is a big influential factor in why different cities or states in India may pay you different for the very same role. 

The same goes for cross-border job opportunities as well. You will find that that post-MBA a candidate can earn around INR 6 lakhs per annum for an entry-level job, for which they will be paid around $100K if that was in the US.

Highest Paying MBA Specializations  

1- MBA in Marketing  

Let me tell you, entering the field of marketing with a master’s degree proved a significant turning point. It wasn’t simply a matter of learning marketing vocabulary; it was also about learning the psychology of customer behavior, the magic of developing a captivating brand story, and the efficacy of data-driven tactics to reach the appropriate audience at an appropriate time.   

Eligibility Criteria  

In order to obtain an MBA in Marketing, individuals usually need to complete the following requirements:  

  • Graduation: A bachelor’s program from a reputable university in any discipline. 
  • Job experience: While not necessarily essential, multiple universities encourage candidates with job experience to provide an operational perspective on their studies.
  • Entrance examinations: A high score on admissions tests such as the GMAT, GRE, CAT (for India), or similar exams based on location and institution.

Jobs after MBA in Marketing  

MBA graduates can work in various popular areas, including consumer products, medical care, technology, finance, etc. A few of the positions are: 

  • Marketing Manager 
  • Brand Supervisor 
  • Social Media Manager 
  • Customer Relationship Manager 
  • Market Research Analyst 
  • Digital Marketing Supervisor 
  • Product Manager 
  • Content Marketing Manager 
  • Sales Manager 
  • Advertising Manager 

Salary after MBA in Marketing  

Earnings for MBA in Marketing holders might vary significantly based on the specific role, location, industry, and level of expertise. However, because marketing responsibilities have an apparent effect on an organization’s profits and growth, it is usually among the highest salary of MBA in India.  

Entry-level marketers with at least three years of work expertise get an average annual pay of INR 3.7 lakhs. Marketing professionals with 4-9 years of expertise typically earn INR 8.3 Lakhs annually, while those with 10-20 years of expertise can receive an average of INR 16 Lakhs per annum.  

2- MBA in Banking and Finance  

With an MBA in Banking and Finance driving your passion, you prepare for a future based on dynamic sectors, investment planning, and precise risk management.   

And the most rewarding part? This skill is in high demand! MBA provides opportunities to numerous professional prospects, ranging from administering multimillion-dollar holdings at investment companies to guiding startups on financing methods. You can concentrate on areas that pique your interest, such as risk management or impact investment, and comfortably manage the financial market. This MBA specialization is also known to offer the highest salary of MBA in India.  

Eligibility Criteria  

To be eligible for this course of study, candidates must have earned a BBA (bachelor’s degree) in banking or a related certification from a recognized university. Furthermore, candidates must have received an aggregate average score of 55% or a grade point average (GPA) of 6 on a grading scale throughout their undergraduate studies.   

It is important to note that the particular percentage required varies across institutions.  

Jobs after MBA in Banking and Finance  

Banking and finance comprise two of the most popular career paths among Indian students, with several employment opportunities in these fields. Job prospects exist both in India and abroad, notably for chartered accountants. Some of the frequent professions that graduates may consider include: 

  • Financial Analyst 
  • Portfolio Manager 
  • Financial Manager or Advisor 
  • Risk Manager 
  • Investment Banker 
  • Corporate Banking Executive 
  • Bank Manager 

Salary after MBA in Banking and Finance  

After completing an MBA in finance, an individual working as a financial analyst with less than three years of work expertise gets an average annual salary of INR 5.6 lakh. MBA graduate financial analysts with 4-9 years of expertise get an average salary of INR 8 Lakhs yearly, whereas those with 10 to 20 years of expertise receive an average income of INR 16.2 Lakhs annually along with promotion to senior roles.  

3- MBA in Business and Data Analytics  

MBA graduate with a focus in Business and Data Analytics is business-savvy and data-fluent. In today’s world, where technological advancements are occurring at a rapid pace, the art of leveraging data to understand trends and markets is invaluable.  

So, if you’re seeking a versatile job where data reveals its secrets and businesses remain on insights, look no further. This MBA is a gateway to limitless opportunities, preparing you to become a visionary leader who understands industry and data.   

The highest salary of MBA in India in the field of business and data analytics can go up to INR 29 Lakhs.  

Eligibility Criteria  

The eligibility criteria for an MBA in Business and Data Analytics varies based on the institute. Applicants with a bachelor’s degree who want to advance their education can enroll in Business and Data Analytics programs at various management institutes.  

  • An MBA in Business and Data Analytics requires a bachelor’s degree in any discipline.   
  • Candidates must clear entrance exams with minimum qualifying scores, including the CAT, XAT, GMAT, or institution-specific assessments.

Jobs after MBA in Business and Data Analytics  

A master’s degree in Business and Data Analytics can lead you to pursue a wide array of roles that blend business strategy with data analysis. Some of these include:  

  • Data Analyst 
  • Data Science Manager 
  • Financial Analyst 
  • Product Manager 
  • Operations Analyst 
  • Analytics Consultant 
  • Supply Chain Analyst 
  • Business Analyst 
  • Consultant in Strategy and Operations 
  • Marketing Analyst

Salary after MBA in Business and Data Analytics  

Entry-level Business and Data Analytics professionals with at least 3 years of expertise obtain an average annual income of INR 6.4 lakhs. Mid-career Business Analytics professionals with 4-9 years of expertise make an average pay of INR 11.9 Lakhs each year, while an experienced person with 10-20 years of expertise makes an average of INR 16.3 Lakhs annually. 

4- MBA in Operations Management  

MBA graduates with a focus on Operations Management are prepared to become a company’s efficient maestro. This training will help uncover the techniques for improving procedures, simplifying processes, and ensuring smooth manufacturing and delivery in every sector. 

Eligibility Criteria  

The eligibility for obtaining an MBA in Operations Management differs according to the university. However, in order to enroll in any management institute, one must meet certain basic requirements.  

  • Before registering for the program, an applicant must be in their final year of school or have graduated. 
  • The minimal aggregate marks for graduation must be 50%, and for prestigious IIMs, it needs to be around 60%.

Jobs after MBA in Operations Management  

Individuals with an MBA in Operations Management can pursue various opportunities across industries, including:  

  • Operations Manager 
  • Quality Control Manager 
  • Process Improvement Consultant 
  • Supply Chain Manager 
  • Procurement Manager 
  • Logistics Manager 
  • Inventory Manager 
  • Production Manager 
  • Project Manager 
  • Consultant in Operations and Efficiency

Salary after MBA in Operations Management  

An initial-level Operations Manager with less than 3 years of work expertise gets an average annual pay of INR 5.2 Lakhs. The average annual income for a mid-career Operations Manager with 4-9 years of work knowledge is INR 8.7 Lakhs, while a senior Operations Manager with 10-20 years of expertise makes an average annual salary of INR 12.3 Lakhs.  

5- MBA in Human Resource Management  

An MBA in Human Resource Management is intended for professionals who want to take charge of human capital in organizations, with an emphasis on recruitment, employee interactions, advancement of talent, and the culture of an organization.  

The highest salary of MBA in India, within the field of HR, can go up to INR 70.9 Lakhs for the role of a CHRO. 

Eligibility Criteria  

The following represents a few of the essential criteria for pursuing an MBA in human resources.  

  • The applicant must hold a bachelor’s degree in any discipline, with an overall average of 50% or an equivalent CGPA score, from an accredited higher education institution. 
  • Final-year students are also permitted to apply for the program; however, their admittance can be subject to being modified based on their final grades. 

Jobs after MBA in Human Resource Management  

When it comes to work options for human resource professionals pursuing an MBA, there are various industries to explore.  

Human resources positions can take different forms- you can begin as a specialist in human resources and move to managerial roles with years of experience and consistent upskilling.  

Some of these job roles include:  

  • Human Resources Manager or Director 
  • International Human Resources Manager 
  • Employee Relations Manager 
  • Training and Development Manager 
  • Executive Recruiter 
  • Diversity and Inclusion Manager 
  • Human Resources Analytics Specialist 
  • Labor Relations Manager 
  • Chief Human Resources Officer

Salary after MBA in Human Resource Management  

An entry-level HR manager post-MBA with a minimum of three years of experience can get an average annual salary of INR 4.9 lakhs. The average income for a mid-career MBA HR fresher with 4-9 years of expertise is INR 8.4 Lakhs per year, whereas a skilled MBA HR fresher with 10-20 years of expertise makes 11.3 Lakhs annually.  

Conclusion  

In my experience, an MBA is often seen as a path to a well-paying job, and there’s truth to that. MBA graduates are thought to have skills that take others years to learn on the job. If you’re considering a Part-time MBA, check out our article on the Advantages of Part-time MBA. Hiring an MBA grad can speed up business growth because they have insights, understand markets, think logically, and analyze businesses well.  

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But for an MBA grad like me, landing a job that makes the education worth it needs careful planning, something we’re good at. So, pursue that MBA, plan well, and get ready for a job with the salary you want. Also, look into the highest-paying jobs for MBA grads in India. 

I recommend you upgrade your career with an MBA course, upGrad is offering the MBA(Executive)-BA 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.  

And the cherry on top – upGrad’s excellent flexible and interactive learning and evaluation systems allow you to balance your personal and professional life in a hassle-free manner. Check out for more information & let our student counsellor help you with your questions. 

Profile

Kamal Jacob

Blog Author
Kamal is an experienced Online marketing consultant with a high degree of expertise in SEO, Web Analytics, Content/Technical planning and marketing.

Frequently Asked Questions (FAQs)

1 How does an MBA education boost salaries?

An MBA gives a boost in commanding higher salaries due to many reasons. The acquisition of a diverse set of knowledge in a short period of time is one of the main reasons. The skills you learn in an MBA will help you become a leader and grow fast in your corporate career. by using these skills, you can tackle real world situations. 9 out of 10 MBA alumni have agreed that the earning power increased after MBA. The horizon of knowledge that you soak in during your MBA makes you a great match for multiple functions in the world of business.

2What kind of an MBA specialisation should I focus on?

MBA specialisation helps you in improving career prospects and in pursuing advanced positions. The kind of specialisation you want depends on your interest. The financial sector is one of the highest paying, so is the technology sector. Sales careers can also offer lucrative careers depending on your contribution to increase in business. The digital world offers a whole new plethora of opportunities. You need to select a specialisation of your preference so that you can channelise your energies and passion in it.

3How can I find the best paying jobs?

The best paying jobs are a combination of versatile skill sets, strategic thinking, and strong specialisation. Also, salaries increase over a period and after creating a niche for you. The highest paying jobs are the ones that involve risk, reflect criticality in performance, allow you to use leadership skills, and strategic thinking. You have to understand your strengths and skills. Parallely, you need to find the most value adding areas of business. Then you can find a healthy balance between the two. Some of the roles are investment banker, project manager, consulting, business development manager, marketing manager, etc.

4What roles and responsibilities entail the position of a Marketing Manager?

The main responsibilities of a marketing manager are to create an appealing brand image for the organisation, in order to promote and sell products or services to its customers. The marketing manager is responsible for a marketing team in most cases, so they also take leadership roles. Analysing consumer behaviour and trends to come up with strategies that work best for the organisation is also something that falls under their purview. Marketing managers take up tasks like website management, social media management, copywriting, and data analytics.

5Can I switch between these roles throughout my professional journey?

Yes, you can definitely explore each of these roles to see which one suits you best and interests you the most. These roles, while being different from one another in terms of responsibilities, come from the same background of business and require you to use the learnings from your MBA degree and put them into practice. The challenge is to assess what specific domain knowledge you will need for different tasks and situations. By experimenting with the nature of your work, you will be able to gain experience from multiple resources and add value to yourself in the employment market.

6What factors affect your salary after graduating with an MBA?

Pursuing an MBA teaches you certain skills. Networking, business management, interpersonal skills, and teamwork, to name a few. Your ability to be able to apply these skills to the benefit of your organisation, and being able to make use of your knowledge on the field, is what affects your position. Your salary also depends on the industry you’re in, the type of business you work for, and where in the country you are located. As you make progress in your career, your salary might tend to increase with promotions. In any case, it is important to choose the right job that aligns with your interests and skills.

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