If you see the job listings today, you will see many jobs marked as ‘MBA preferred.’ This trend has been increasing over the last five years. MBA graduates have better ability and skill when it comes to thinking logically in critical situations and solving complex problems.
With industries changing dramatically and perspectives of business taking new shapes, the demand and scope for MBA for professionals has undergone a radical shift. Companies now want multi-skilled talents that have niche domains skills as well as leadership and management skills.
MBA Salaries for Middle Management
Most professionals pursue an MBA to jump the corporate ladder up a few steps. If you are doing an MBA by staying in your current career path, you are most likely to end up in a middle management position. As per the reports, below are the MBA salaries for different job roles.
The “Operations Manager” is the highest-paid role getting around Rs 744,930 – Rs 1,206,777.
A Quality Control Manager gets approximately Rs 549,320 – Rs 877,720.
There is a rising demand for Sales Managers and Marketing Manager, and both salaries range from Rs 450,000 to Rs 1,850,000. Accounts Manager get Rs 574,110 – Rs 1,267,777 while a Human Resource Manager gets Rs 508,220 – Rs 1,231,280.
Project Managers are required in different fields like IT, construction, healthcare. Project managers at the middle management level get to draw anywhere between Rs 585,000 and Rs 1,815,000.
With the IT sector booming and many IT companies starting up in India, IT manager with an MBA degree can demand salaries ranging from Rs 545,000 to Rs 1,200,000.
Business Development Manager is yet another role that is high in demand right now with salaries ranging from Rs 475,000 – Rs 845,000. Business Analyst gets to draw around Rs 500,0000 – Rs 950,000. Doing an MBA specialized in Business Analytics comes handy for this sort of job positions.
Procurement, Purchase, or Vendor Management folks in the middle management level may get anything between Rs 445,000 to Rs 880,000. Though limited to the pharmaceutical industry, Pharma Product Manager is another job role that draws handsome figures ranging from Rs 450,000 – Rs 1,050,000.
MBA Salaries in Various Indian Cities
Though MBA salaries depend on the job role, different cities are seen to be offering different salaries based on the cost of living and the value of the market.
Gurgaon, Haryana is the highest paying market with MBA graduates being offered salaries averaging Rs 750,000.
Bangalore, the Silicon Valley of India, is the second most paying market, with MBA graduates being offered salaries averaging Rs 730,000.
Chennai and Pune are comparable offering MBA graduates a salary of Rs 600,000 and Rs 620,000, respectively. As per the reports, MBA graduates in Hyderabad get the lowest average wages, i.e., around Rs 590,000
MBA Salaries in India by Experience
MBA salaries will depend on your experience level. The higher you go up on the ladder, your experience increases, and you are paid higher.
If you are a fresh MBA graduate, you can expect an average salary of Rs 290,000. But with just 1 to 4 years experience, your salary can grow up to Rs 390,000 or more. Generally, the salary of MBA graduates in India grows up exponentially with experience.
So, if you have 5 to 9 years of experience, your average salary can rise to Rs 720,000, and for 10 to 19 years of experience, the average salary given is Rs 1,400,000. If you are 20 years of experience or more, you give in to the senior level of management like director, senior director, Vice President, and the salaries offered average at Rs 2,550,000. These are just the average salaries, but if you have the niche domain skills with excellent exposure to the working environment, you can demand much higher than these averages.
Companies Which Offer High Salaries for MBA Graduates in India
Depending on the revenue and requirement of the company, some of them pay higher. For example, big giants like Amazon and Facebook tend to say that they are a technology firm, and there is no value that an MBA graduate can add to them. While companies like Microsoft and DELL value the technical, management, and leadership skills that an MBA graduate possesses and are ready to pay them higher.
Let’s look at a list of companies that pay high for MBA graduates in India. Engineers India tops the list with MBA graduates getting from Rs 860,168 to Rs 2,800,000 per annum. Larsen & Toubro (L&T) pays anywhere from Rs 840,320 to Rs 2,480,940. Hindustan Unilever, Asian Paints, Whirlpool are companies that value MBA degree and pay salaries ranging from Rs 780,000 to Rs 2,000,000. Amazon though hires fewer people to management, still pays Rs 815,000 – Rs 1,930,000 for MBA graduates.
Besides these, there are several IT firms and startup companies the pay lump sum figures to MBA graduates from entry-level to senior-level positions. In the IT industry, a Vice President (VP) is usually offered a whopping 70L to 1 Cr annual package.
MBA is in high demand in India, with the economy rising at a fast pace.
The whopping salaries mentioned above are proofs for the same. Many companies are establishing their base in India. Most of them need MBA graduates to their leadership and management levels. These companies are mainly from the IT sector and others like consumer goods, financial services, and consulting.
So here, we have discussed the salary of MBA graduates in India looking at it from different angles. We hope this article has shared some excellent insights into MBA salary trends prevailing in India.