Blog_Banner_Asset
    Homebreadcumb forward arrow iconBlogbreadcumb forward arrow iconMBAbreadcumb forward arrow iconMBA Salary in India in 2024 [For Freshers & Experienced]

MBA Salary in India in 2024 [For Freshers & Experienced]

Last updated:
19th May, 2024
Views
Read Time
33 Mins
share image icon
In this article
Chevron in toc
View All
MBA Salary in India in 2024 [For Freshers & Experienced]

Wondering what is the range of MBA salary in India?

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. The MBA Salary in India offered is, naturally, directly proportional to the qualification and experience. Hence, if you have the right qualifications you can get a MBA average salary in India.

Master of Business Administration (MBA full form) is a prestigious academic program designed to provide a holistic understanding of business strategies and management principles. Popular among undergraduate and postgraduate students alike, the diverse curriculum of an MBA covers vital areas like finance, marketing, operations, and entrepreneurship. 

Anticipated to reach a valuation of USD 83.08 billion by 2032, the global MBA education market size reaffirms the steady demand MBA still holds. Employers highly regard candidates with an MBA due to their demonstrated readiness for navigating complex business challenges in executive roles, consulting, investment banking, and management.

Check out our free courses to get an edge over the competition.

Ads of upGrad blog

If you have the required skill set and are ready to keep yourself updated, your career is expected to keep growing onwards and upwards. There are plenty of MBA jobs in India but on certain conditions. This line stands true especially when we consider that an MBA salary in India is directly or indirectly dependent on how upskilled and updated they are. Thus there can be some myths and misconceptions that you might have heard regarding MBA degree salary.

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.

You can also consider doing our Management Essentials Bootcamp if you are interested.

Featured Program for you: Business Analytics Certification Programme

Often MBA aspirants get confused regarding which MBA specialization is best paid? Let’s take a look at what is a typical highest paying jobs after MBA in India?

MBA Salary in India: Based on Specialization Streams

The common question on the internet is: What is the salary of MBA in India per month? The average salary for MBA in India per month is 90,000 to 1 lakh and annual MBA salary in India as per the pay scale, is Rs 7.71 lakhs.
Let’s see how the MBA salary in India varies according to the specialization streams

1. MBA in Finance

After completing an MBA in Finance, one can find a job in the following sectors –

  • Corporate Finance –This field involves managing a company’s financial activities, including budgeting, financial planning, investment decisions, and capital structure management. Job roles with high MBA salary may include financial analyst, financial manager, or CFO (Chief Financial Officer) in corporate settings. 
  • Corporate Banking –Involves providing financial services to corporations, including loans, credit, treasury, and advisory services. This sector offers some high paying jobs after MBA, like relationship manager, credit analyst, or corporate banker.
  • Credit Risk Management –Professionals in this field usually get a hefty salary as they shoulder responsibilities like assessing and mitigating credit risks for banks, financial institutions, or corporations. They analyze creditworthiness, develop risk management strategies, and assess loan portfolios. Job titles might include credit risk analyst or credit risk manager.
  • Asset Management –Involves managing investment portfolios for individuals or institutions, including mutual funds, pension funds, or insurance companies. As one of the highest paying MBA jobs in India, asset management roles like portfolio manager, investment analyst, or fund manager require expertise in managing diverse investment portfolios for institutional or individual clients. 
  • Hedge Fund Management –Involves managing investment funds that use various strategies to generate returns for investors. Jobs in this field might include hedge fund manager, research analyst, or quantitative analyst. MBA packages in India in this field are highly rewarding due to the demanding nature of the roles.
  • Private Equity –Involves investing in private companies by acquiring stakes, restructuring them, and eventually selling for a profit. These job roles, including private equity associate, analyst, or partner, come with a significant salary package. 
  • Treasury –Professionals in treasury manage a company’s finances, including cash flow, liquidity, and risk management. Jobs could include treasury analyst, treasury manager, or treasurer.
  • Sales and Trading –This area involves selling and trading financial instruments such as stocks, bonds, currencies, and commodities. The average salary of MBA in India for roles like sales trader, trader, or investment banker is relatively high.

Our learners also read: Career after MBA!

The average salary for MBA fresher in India is Rs. 678,000 per annum. The MBA salary after 10 years in India increases with growing experience and knowledge.

MBA Salary in India: Finance

Job TitleRangeAverage
Financial Analyst₹262k – ₹1m₹518,784
Finance Manager₹468k – ₹2m₹1,163,621
Senior Financial Analyst₹389k – ₹1m₹781,640
Senior Business Analyst₹498k – ₹2m₹1,153,723
Project Manager, (Unspecified Type / General)₹685k – ₹3m₹1,682,129
Operations Manager₹429k – ₹2m₹961,002
Data Analyst₹266k – ₹1m₹525,921

Source

EY, HDFC BAnk, Accenture, TCS, ICICI Banks are the top recruiters for MBA Finance candidates.

Read: Career in marketing and its scope in the USA.

2. MBA in Business Analytics

MBA graduates in Business Analytics can find jobs in various sectors like Information Technology, Healthcare, Financial Institutions, E-Commerce, etc.

Thanks to the growing importance of analytics in business, the average salary of  MBA Business Analytics professionals in India is Rs. 11 lakhs p.a. While freshers can make around Rs. 5 – 8 lakh p.a., experienced professionals in the field can earn between Rs. 10 – 18 lakhs p.a. Those at a senior level can draw a salary between Rs. 30 – 55 lakhs annually.

MBA Salary in India: Business Analytics

Job TitleRangeAverage
Analytics Consultant₹447k – ₹2m (Estimated *)₹1,029,835
Business Analyst (Unspecified Type)₹303k – ₹1m (Estimated *)₹627,331
Senior Business Analyst₹510k – ₹2m (Estimated *)₹1,142,749
Data Analyst₹226k – ₹901k (Estimated *)₹454,307
Data Scientist₹345k – ₹2m (Estimated *)₹881,317
Manager Trainee₹221k – ₹986k (Estimated *)₹501,324
Branch Sales Manager₹303k – ₹1m (Estimated *)₹607,778

Source

Read: Check out the Scope of MBA for IT industry

3. MBA in Marketing

After completing an MBA in Marketing Management, one can find a job in the following sectors-

  • Competitive Marketing –This involves analyzing competitors’ strategies, market trends, and consumer behavior to develop and implement strategies that give a competitive edge. Job roles may include competitive intelligence analyst, market research analyst, or marketing strategist. MBA salary in India for competitive marketing can be quite rewarding because these roles involve analyzing markets and competitors to gain an edge.
  • Business Marketing –Focuses on marketing products or services to other businesses. MBA package in India for business marketing graduates is quite competitive as they would work in either business development, B2B marketing, account management, or sales management targeting corporate clients. 
  • Online Marketing –Involves using digital platforms and tools to promote products or services. Roles may include digital marketing manager, social media strategist, content marketer, or search engine optimization (SEO) specialist. 
  • Analytical Marketing –Centers on using data analytics and market research to make informed marketing decisions. Job roles in this field come with hefty MBA business analytics salary. Some probable positions include marketing analyst, data analyst, or marketing research manager, focusing on extracting insights from consumer data.
  • Customer Relationship Marketing –Revolves around building and maintaining relationships with customers through personalized marketing strategies. Jobs may include CRM manager, loyalty program manager, or customer experience analyst. These job roles offer lucrative salaries, as building strong customer connections is crucial for businesses to thrive in this overtly competitive digital era.
  • Advertising Management –Involves planning, creating, and managing advertising campaigns across various media channels. Advertising manager, creative director, media planner, or account executive in advertising agencies or marketing departments are some of the roles available in this sector.
  • Product and Brand Management –Involves managing the marketing strategy, development, and promotion of specific products or brands. Job roles may include product manager, brand manager, or brand strategist, responsible for creating and maintaining brand identity.
  • Retailing Management –Focuses on managing retail operations, merchandising, and customer experiences in retail environments. Jobs in this sector may include retail, store operations, or retail marketing managers.

An MBA in Marketing can help you get a job promotion and qualify for management and executive positions in your current company. Since postgraduate business programs emphasize developing leadership and communication skills, graduates can advance to marketing positions with great ease.

Read: What is business analytics – Its Career scope, Salary & Job Roles.

Whether you are interested in sales, business development, media and entertainment, advertisement, brand management, or even general management, these skills form the heart of any senior-level role. Technology has further augmented the marketing world, adding new creative areas and innovative job profiles to the mix.

Also read, Business analyst career path and professional roles.

Marketing Management professionals can find job opportunities in Advertising Agencies, Marketing Companies, FMCG Sector, Financial Services, IT, etc.

According to glassdoor, The average MBA Marketing salary in India per month is ₹28,750.

MBA Salary in India: Marketing

Job TitleRangeAverage
Marketing Manager₹403k – ₹2m₹970,207
Business Development Manager₹390k – ₹2m₹900,712
Senior Marketing Manager₹818k – ₹3m₹1,689,635
Regional Sales Manager₹688k – ₹3m₹1,509,254
Marketing Executive₹221k – ₹766k₹411,823
Digital Marketing Manager₹409k – ₹2m₹919,152
Area Sales Manager₹393k – ₹1m₹826,906

Source

4. MBA in Human Resource Management

Recently, the job of HR professionals has gained increasing traction across all parallels of the industry. Hence, HR Management professionals can find plenty of employment opportunities in IT companies, law firms, advertising firms, retail companies, media houses, newspapers, etc.

MBA HR candidates earn Rs. 7,17,000 per annum. The average yearly salary of an MBA HR Manager is Rs. 8,49,167 and the Senior HR Manager salary is close to Rs. 16,91,941 per annum.

MBA Salary in India: Human Resources

Job TitleRangeAverage
Human Resources (HR) Manager₹374k – ₹2m₹849,167
Human Resources (HR) Generalist₹217k – ₹889k₹421,380
Human Resources (HR) Business Partner₹389k – ₹2m₹866,620
Sr. Human Resources (HR) Manager₹763k – ₹3m₹1,691,941
Senior Human Resources (HR) Generalist₹310k – ₹1m₹543,425
Human Resources (HR) Assistant₹187k – ₹951k₹427,187
Talent Acquisition Specialist₹364k – ₹1m₹634,836

Source

Explore our Popular MBA Courses

5. MBA in Operations Management

Graduates with this specialization usually bag jobs in product/service based units, including –

  • Retail -Jobs in retail can involve working in store management, merchandising, marketing, or operations within retail stores or chains. MBA graduates in retail management often earn good salaries because of the demanding nature of their role, especially in management and strategic decision-making.
  • Logistics -Logistics job opportunities encompass supply chain management, transportation, warehouse operations, inventory control, and distribution. Salaries for MBA holders in logistics can be rewarding due to the dynamic nature of the job.
  • Hospitality -In the hospitality sector, graduates might pursue careers in hotel management, event planning, restaurant management, or tourism-related services. The exponential growth of the hospitality sector ensures graduates with an MBA in hospitality can gain enough opportunities to land well-paying jobs.
  • Transportation -Responsibilities in transportation involve managing transportation networks, logistics planning, fleet management, or operations in airlines, railways, shipping companies, or logistics firms. Salaries for MBA graduates in transportation management can be appealing as they have to oversee logistics and transportation operations.
  • Manufacturing -MBA graduates can work in manufacturing industries, overseeing production processes, quality control, operations management, or supply chain roles within factories or production units. They can earn competitive salaries by optimizing production processes and supply chains.
  • Construction -Job roles in construction may include project management, site supervision, construction planning, or operations management in the building and infrastructure sectors. Efficiency in overseeing construction projects and operations and the right MBA specialization can help attract lucrative salaries.
  • Financial Institutions -Opportunities in financial institutions might involve roles in banking, investment management, financial analysis, risk assessment, or corporate finance. MBA in finance salary in India can be competitive, given the financial analysis and risk management skills required for the roles.
  • Management Consulting -Graduates might work as consultants, providing strategic advice, market analysis, process optimization, or management solutions to various industries and businesses. They often earn well, providing strategic advice and cost-effective solutions to businesses.
  • Information Technology -In the IT sector, opportunities can include roles in project management, IT consulting, software development, business analysis, or technology-related services across different industries. MBA professionals in IT can earn well by using their project management skills and driving technological innovation in businesses.

Damco, Blue Dart, First Flight, GAIL, ONGC, and NHPC are among the major recruiters for Operations Management professionals in India.

MBA average salary in India on the post of Operations Manager candidate is Rs. 802,000 per annum. Apart from Operations Manager, there are different MBA jobs as well which pay well. A management consultant gets an average of Rs. 1345,000 per annum.

MBA Salary in India: Operations Management

Job TitleRangeAverage
Project Manager, (Unspecified Type / General)₹584k – ₹2m₹1,272,404
Operations Manager₹368k – ₹2m₹789,373
Business Analyst, IT₹359k – ₹2m₹794,447
Business Analyst (Unspecified Type)₹400k – ₹1m₹783,811
Supply Chain Manager₹458k – ₹2m₹1,079,169
SAP Consultant₹387k – ₹2m₹871,376
Purchasing Manager₹669k – ₹3m₹1,356,480

Source

Checkout: Best Online MBA Courses in India

6. MBA in Management Consultant

One of the most versatile job profiles, a career in management consulting will basically entail working with clients from several different professional industries from corporate to IT to investment banking, and several others. There are several facets to this job; it’s not just about solving your client’s problems but also about backing up your decisions or guidance with thorough analytical research and critical strategizing.

Average Management consultant salary in India is Rs. 1,306,467 Per annum.

EY, Accenture, Deloitte, KPMG, Infosys are some of the top recruiters.

Source

The location also determines the salary scale of Management Consultants. For instance, Management Consultants in Delhi earn about 21.0% more than the national average. The average annual salaries are also pretty high in Gurgaon (14.5% more) and Bangalore (9.8% more). Pune (24.1% less) and Chennai (12.6% less) record the lowest salary for Management Consultants.

As for skills, a select few skills pay higher than the national average. These include Business Strategy, Business Analysis, and Project Management. Reputed companies like Accenture, Ernst & Young, PwC, Deloitte, KPMG, and Infosys, pay hefty yearly compensation to Management Consultants.

Also visit upGrad’s Degree Counselling page for all undergraduate and postgraduate programs.

7. MBA in International Business 

An MBA in International business can open up major pathways for you in the country and beyond; this obviously gives you an edge as the course familiarises you with global market demands and business trends. This is the reasons why entrepreneurs need an MBA degree also makes you a terrific business planner which eventually helps business development and growth.

Some of the top roles open to MBA graduates in the field of international business are-

  • International Business Development Manager

Responsible for identifying and developing business opportunities in global markets, creating strategies for market entry, forming partnerships, and expanding the company’s international presence.

  • Global Marketing Manager

In charge of developing and executing marketing strategies on a global scale, including market research, product localization, brand management, and advertising campaigns tailored to diverse international markets.

  • International Financial Analyst

Analyzes global economic trends, currency fluctuations, financial risks, and investment opportunities across different countries, providing insights to support financial decision-making for multinational corporations.

  • International Supply Chain Manager

Manages the global supply chain operations, optimizing logistics, procurement, inventory management, and distribution strategies across borders to ensure efficient and cost-effective movement of goods and services.

  • International Trade and Compliance Manager

Ensures compliance with international trade regulations, manages import/export processes and navigates legal complexities related to global trade agreements and customs regulations.

  • Global Operations Manager

Oversees operations in multiple countries, coordinating production, quality control, and supply chain activities to ensure consistency and efficiency in operations across different international locations.

  • International Business Consultant

Provides advisory services to companies expanding internationally, offering insights, strategies, and solutions to address challenges related to global expansion, market-entry, and cross-cultural management.

  • Foreign Market Research Analyst

Conducts market research on foreign markets, analyzing consumer behavior, market trends, and competitive landscapes to provide actionable insights for companies planning international expansion or market entry.

According to payscale, average MBA in International business candidate salary is Rs. 963,000 per annum.

MBA Salary in India: International business

Job TitleRangeAverage
Operations Manager₹428k – ₹2m₹937,729
Project Manager, (Unspecified Type / General)₹527k – ₹3m₹1,544,088
Team Lead, Operations₹426k – ₹1m₹755,723
Supply Chain Manager₹387k – ₹2m₹914,827
Business Development Manager₹285k – ₹1m₹636,517
Marketing Manager₹416k – ₹3m₹1,028,520
Senior Project Manager, IT₹762k – ₹3m (Estimated *)₹1,405,699

Source

TCS, JP Morgan, Standard Chartered Bank, Accenture & Capgemini are some of the top recruiters.

Hope this brief discussion has helped you get an overview of which MBA specialization is best paid. 

In India, an MBA can lead to high-paying job opportunities, especially in sectors like finance, consulting, and technology. Graduates from top business schools often command significant salaries and rapid career advancement.

Future of MBA

People often question whether MBA is still relevant or worth it in 2024; the answer is yes. As we move towards the future, the number of startups and business ventures keeps increasing. Hence, MBA can become more valuable than other mainstream degrees to succeed in such circumstances. 

Due to the variety of courses that an MBA provides, starting from finance to analytics, the demand for MBA is expected to rise in the future. Earlier industries had no choice but to hire PHDs and post-graduates to manage data and analytical aspects. Unfortunately, coming from academia, they lacked practical knowledge and implementation. This is where MBA students get the lead. 

MBA graduates can choose to specialize in multiple fields, such as finance, investment, analytics, and so forth while getting practical knowledge of the business based on their capabilities and interests. This increases their values from a business perspective. However, MBA can offer a wealth of advantages if it is done from a reputed institution. 

Apart from that, for those who completed graduation in different subjects and now want to pursue their career in business yet have no practical knowledge or guidance in the field, MBA will be invaluable for them.

The average MBA salary after 5 years in India typically ranges from INR 12 to 20 lakhs annually. This can vary based on industry, location, and individual performance.

Why These Days Startups Are Hiring MBAs?

The top reasons why more startups are now eager to bring MBAs on board:

1. Strategic Thinking and Problem-Solving

MBAs are known for their rigorous critical thinking, strategic planning, and problem-solving training. Startups often face complex challenges that require a well-thought-out approach. MBAs bring these skills to the table, helping startups navigate uncertainty and make informed decisions.

2. Business Acumen

Startups need individuals who can quickly grasp the financial aspects of the business and make sound financial decisions. MBAs receive comprehensive finance, accounting, and economics training, making them valuable assets for startups looking to manage their resources efficiently and make data-driven financial choices.

3. Networking Opportunities

Many MBA programs provide extensive networking opportunities. Startups can tap into this network to gain access to potential investors, advisors, mentors, and partners. MBAs often have connections to venture capitalists and angel investors, which can be instrumental in securing funding for startups.

4. Market Research and Analysis

Understanding the market and target audience is crucial for startup success. MBAs are trained to conduct market research, analyze industry trends, and identify growth opportunities. This skill set helps startups fine-tune their business strategies and market positioning.

5. Leadership and Team Management

Effective leadership is essential for startups to thrive. MBAs receive leadership and team management training, which is valuable for building and leading diverse teams in the fast-paced and dynamic startup environment.

6. Innovation and Entrepreneurship

Many MBA programs now offer courses specifically focused on entrepreneurship and innovation. This education equips MBAs with the mindset and tools necessary to create, manage, and scale new ventures – skills that align with the goals of startups.

7. Access to Resources

MBA programs often provide access to libraries, research databases, and other resources that can benefit startups. This access can be particularly valuable when conducting market research, analyzing competitors, or developing business plans.

8. Multidisciplinary Skills

MBAs often possess various skills across various business functions, including marketing, operations, and human resources. This multidisciplinary knowledge is valuable for startups, which may have limited resources and require team members who can wear multiple hats.

9. Adaptability and Learning Agility

MBA graduates are trained to adapt to changing business environments and embrace continuous learning. Startups operate in a volatile landscape where pivoting and adapting to new circumstances are often necessary. MBAs are well-prepared to handle these challenges.

10. Branding and Credibility

MBAs can enhance a startup’s credibility, especially when dealing with potential investors, partners, or clients. The prestige associated with MBA programs can open doors and establish trust.

11. Global Perspective

In an increasingly globalized world, startups may aspire to expand internationally. MBAs often have a global perspective and a better understanding of international markets, which can be invaluable for startups with global ambitions.

12. Business Development and Sales Skills

Many MBA programs include coursework related to sales and business development. This expertise is critical for startups looking to scale quickly and acquire new customers.

13. Access to Talent Pool

MBA programs attract a diverse group of students with various backgrounds and experiences. Startups can tap into this talent pool to find individuals with expertise in specific industries or markets.

14. Mentorship Potential

Experienced MBAs may offer mentorship to startups, providing valuable guidance and insights. These mentorship relationships can be instrumental in helping startups navigate challenges and make informed decisions.

15. Long-Term Vision

MBAs often bring a long-term perspective to startups, helping them set strategic goals and develop sustainable business models. This focus on long-term sustainability can be crucial for a startup’s survival and growth.

Highest Paying Jobs for MBA Candidates

Let’s talk about jobs which are offering the highest paying jobs after mba in India. These are not the only MBA jobs that pay high but are the ones where you can expect to be paid higher from the very beginning. It should be noted that despite an MBA degree, industry experience matters a lot in deciding compensation. 

1. Investment Banker

Investment bankers is one of the highest paid jobs after mba in finance that 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. Investment banking is the one of the highest MBA salary in India you can get. 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.

Investment Banker Salary in India


Source
Investment Banker Salary in India based on Locations:

CitySalary
New Delhi₹ 20 Lakhs
Pune₹ 20 Lakhs
Mumbai₹ 15 Lakhs
Bangalore₹ 9 Lakhs
Chennai₹ 8 Lakhs
Hyderabad₹ 10 Lakhs
Gurgaon₹ 15 Lakhs
Noida₹ 14 Lakhs

Source

Investment Banker Salary in India by Experience

Source

ExperienceSalary
2 Year₹ 7.9 Lakhs
3 Year₹ 11.6 Lakhs
4 Year₹ 12.7 Lakhs
5 Year₹ 13.8 Lakhs

Source

An average salary for MBA fresher in India as an investment banker earns around Rs.680,000 per year.

Early career below 4 years experience earns approximately Rs. 870,000 per year.

A mid-level employee with 5-9 years experience earns an average of Rs. 1,500,000 per year.

An experienced investment banker with more than 10 years experience earns nothing less than Rs.3,000,000 per year. It is to be noted that this particular MBA jobs salary, unlike the others, has gone down by 37% and 16% for entry-level and early career, respectively, while showing a steep growth of 89% for mid-career.

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.

For this particular role, a Project Manager will need to have at least the following skillset – and the specificity of the project will decide which quality requires a greater focus:

  • Effective communication skills

Project managers must communicate efficiently and clearly with stakeholders, team members, clients, and others involved. They need to convey ideas, expectations, progress, and issues comprehensibly to ensure everyone is on the same page.

  • Team building and motivation

Building a cohesive and motivated team is crucial for project success. Project managers need to create a positive work environment, motivate team members, resolve conflicts, and foster collaboration to achieve project goals.

  • Efficient Planning and Strategising

Project Managers are responsible for planning project timelines, setting achievable goals, allocating resources effectively, and devising strategies to overcome obstacles. They need to develop comprehensive plans and adapt them as needed throughout the project lifecycle.

  • Zeal for unparalleled growth

Having a drive for continuous improvement and growth is essential. Project managers should seek innovative solutions, encourage innovation within the team, and constantly look for ways to enhance project efficiency and outcomes.

  • Adequate financial understanding for projections, and more.

Understanding financial aspects related to the project, such as budgeting, cost estimation, financial projections, and return on investment (ROI), is crucial. It helps make informed decisions and ensures the project stays within budgetary constraints.

Project Manager Salary in India


Source
Project Manager Salary in India based on Locations:

CitySalary
Bangalore₹19.3 Lakh
Mumbai₹18.7 Lakh
Hyderabad₹19.6 Lakh
Chennai₹19.2 Lakh
New Delhi₹18.4 Lakh
Pune₹19.5 Lakh
Gurgaon₹19.2 Lakh

Source
Project Manager Salary in India by Experience

Source

ExperienceSalary
4 Year₹7.8 Lakh
5 Year₹8.7 Lakh
6 Year₹9.2 Lakh
7 Year₹10.3 Lakh
8 Year₹11.8 Lakh

Source

An entry level Project Management Manager earns around Rs.160,000 per year.

Early career below 4 years experience earns approximately Rs. 480,000 per year.

A mid-level employee with 5-9 years experience earns an average of Rs. 8,500,000 per year.

An experienced investment banker with more than 10 years experience earns nothing less than Rs.1300,000 per year.
Source

3. Consulting

Business Consulting and Strategy Consulting are two of the hottest jobs in the market for MBA graduates and also the highest paid jobs after mba in finance. Forecasting trends, analysing 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. Unlike Project Managers and Investment Banker jobs, salary after MBA in this field has seen some growth compared to last year.

Business Consultant Salary in India


Source
Business Consultant Salary in India based on Locations:

CitySalary
Bangalore₹15.4 Lakh
Mumbai₹15.4 Lakh
Hyderabad₹16.1 Lakh
Chennai₹16.5 Lakh
New Delhi₹14.9 Lakh
Pune₹16.1 Lakh
Gurgaon₹16.1 Lakh

Source

Business Consultant Salary in India by Experience

Source

ExperienceSalary
1 Year₹6.6 Lakh
2 Year₹7.8 Lakh
3 Year₹9.9 Lakh
4 Year₹11.2 Lakh
5 Year₹12.1 Lakh

Source

An entry level Business Consultant earns around Rs.437,000 per year.

Early career below 4 years experience earns approximately Rs. 700,000 per year.

A mid-level employee with 5-9 years experience earns an average of Rs. 1,050,000 per year.

An experienced investment banker with more than 10 years experience earns nothing less than Rs.1360,000 per year.

Source

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.

Business Development Manager Salary in India


Source
Business Development Manager Salary in India based on Locations:

CitySalary
Bangalore₹7.4 Lakhs
New Delhi₹7.1 Lakhs
Mumbai₹7.2 Lakhs
Hyderabad₹7.3 Lakhs
Pune₹6.9 Lakhs
Gurgaon₹8.3 Lakhs
Noida₹8.1 Lakhs
Chennai₹7.3 Lakhs

Source

Business Development Manager Salary in India by Experience


Source

ExperienceSalary
2 Year₹6.7 Lakhs
3 Year₹7.3 Lakhs
5 Year₹7.8 Lakhs
7 Year₹8 Lakhs
11 Year₹10.9 Lakhs

Source

An entry level Business Development Manager earns around Rs.340,000 per year.

Early career below 4 years experience earns approximately Rs. 450,000 per year.

A mid-level employee with 5-9 years experience earns an average of Rs. 700,000 per year.

An experienced investment banker with more than 10 years experience earns nothing less than Rs.988,000 per year.

Source

5. Marketing Manager

With this job role, an MBA graduate will look after all the marketing efforts of a particular organization, whether it is online or offline, and will make sure that they get a fair return on their investment, based on whatever metrics are decided beforehand. Moreover, a Marketing Manager will also be responsible for designing, perhaps even planning and executing effective marketing strategies to propel the company forward.

Marketing Manager Salary in India


Source
Marketing Manager Salary in India based on Locations:

CitySalary
Bangalore₹13.3 Lakhs
New Delhi₹12.1 Lakhs
Mumbai₹13.8 Lakhs
Hyderabad₹11.8 Lakhs
Pune₹11 Lakhs
Gurgaon₹14.8 Lakhs
Kolkata₹10.5 Lakhs
Chennai₹12 Lakhs

Source
Marketing Manager Salary in India by Experience

Source

ExperienceSalary
2 Year₹6 Lakhs
3 Year₹7 Lakhs
5 Year₹8.3 Lakhs
7 Year₹9 Lakhs
10 Year₹10.5 Lakhs

Source

 

 

An entry level Marketing Manager earns around Rs.421,000 per year.

Early career below 4 years experience earns approximately Rs. 510,000 per year.

A mid-level employee with 5-9 years experience earns an average of Rs. 708,000 per year.

An experienced investment banker with more than 10 years experience earns nothing less than Rs.980,000 per year.

Source

In brief it can be said that, consulting and marketing sectors are seeing some tremendous growth. Especially in the marketing sector, young talents are much appreciated, which makes it golden opportunity to get into this field right now.

Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.

Factors Affecting MBA Salary in India

MBA degree salary is not uniform across the globe. MBA salary in India can be affected by multiple factors. Let’s see some primary salary affecting factors:

  1. Job Role
  2. Location
  3. Job Role
  4. Company

MBA Salary in India: Based on Job Role

Let’s see how the MBA salary in India varies based on the job role.

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.

Source

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.

Featured Program for you: MBA from Golden Gate University

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 Salary in India: Based on Location

Let’s see how the MBA salary in India varies based on location.

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.

In Mumbai, MBA graduates get an average salary of Rs 732,000, while in Delhi, around Rs 690,000 is given. What is the best time to do an MBA?

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

Source

MBA Salary in India: Based on Experience

Let’s see how MBA salary in India varies based on experience.

MBA salaries in India will depend on your experience level. The higher you go up on the ladder, your experience increases, and you are paid higher.

Early Career MBA Salary In India

The average salary of entry-level MBA salary in India is of Rs 290,000. But with just 1 to 4 years experience, Early career MBA Salary in India can grow up to Rs 390,000 or more. Generally, the salary of MBA graduates in India grows up exponentially with experience.

Mid-level MBA Salary in India

So, if you have 5 to 9 years of experience, mid-level MBA Salary in India can rise to Rs 720,000

Experienced MBA Salary in India

If you have 10 to 19 years of experience, your average MBA Salary is Rs 1,400,000. If you are 20 years of experience or more, your average MBA salary in India 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.

Source

These are the major factors impacting MBA jobs salary. However, the institution you choose also plays a massive role in opening up new opportunities, if you are just setting out.

MBA Salary in India: Top Recruiters

MBA jobs salary widely differ if you plan to settle aboard. Let’s see how the MBA salary in India varies based on the recruiter.

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.

Source

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 Salary in Other Countries

Let’s look at the MBA salary in other countries:

MBA Salary in The UK: $88,000

Source

MBA Salary in The US: £52,000

Source

3 Top Reasons You Should Pursue MBA

Apart from the fact that your salary after MBA will get a significant boost, here are some other reasons why you should go for an MBA.

  1. Rise Above Entry Barriers

Several blue-chip organizations take only MBA graduates (even at its entry-level positions) in its hiring policy. Such organizations promote a costly development scenario where you can quickly move up the ladder once you’re in!

  1. Learn High-End Management Skills

MBA applicants are considerably younger in their starting and come with a maximum of two years of professional experience. An MBA specialization would help you know the Nuances of the company’s operations.

  1. Going Places – Literally!

If you’ve always wanted to work in new places, then choosing a good MBA program can be a great start to a long term view of settling down in a home for work post-graduation. Apart from the high MBA salary per month in India, this is definitely a deal-maker.

Read Our Popular Articles Related to MBA

Conclusion

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.

Ads of upGrad blog

We hope you liked our article on MBA salary in India. These numbers above are not set in stone. The real influencer of your salary is the skills you have, the mastery you have attained over them, and how quickly you grow and make the company grow as well.

So here, we have discussed the average MBA salary in India looking at it from different angles. We hope this article has shared some excellent insights into MBA salary trends prevailing in India. 

If you are keen on upgrading your career with an Executive MBA course, upGrad is offering the MBA from Liverpool Business School.

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

Profile
He is working as Associate Director of Digital Marketing at upGrad. Apart from marketing he is a crazy and courageous traveler. He has traveled from Kashmir to Kanyakumari through his bike(bullet).

Frequently Asked Questions (FAQs)

1What is the salary of an MBA candidate in India?

The average salary for an MBA candidate in India is approximately Rs 7.3 Lacs. Factors affecting the salary in India are experience, location, job role, and skillset.

2 What are some of the highest-paying jobs for MBA candidates in India?

Here are some of the highest-paying jobs for MBA candidates: Investment Banker, Project Manager, Business Consulting and Strategy Consulting, Business Development Manager & Marketing Manager.

3 MBA salary in India based on Indian cities?

Gurgoan is the highest paying market with an average salary of Rs 750,000. Bangalore follows up with Rs 730,000. In Mumbai, an MBA gets Rs 732,000, while in Delhi, around Rs 690,000 is given.

4Which specialization in MBA sees the highest demand?

As the world of corporate business continues to evolve, it further creates newer aspects of business management. These unique aspects of modern business call for different grounds of specialization that need expertise in specific parts. As MBA aspirants keep increasing exponentially every year, business schools in India now offer a wide array of specializations. But going for the right specialization of MBA is instrumental in carving out a rewarding career in business administration. Selecting your MBA specialization from the most in-demand fields will ensure the proper job placement and lucrative compensation too. Specializations that are most in-demand today include finance, marketing, HR, business analytics, and international business, among others.

5Who earns more MBA or M.Tech?

After completing B. Tech, there is always an ensuing confusion about which stream to select – MBA or M.Tech. It can be indeed tough to decide whether to go for an MBA or an M.Tech since both are two very different paths. While an M.Tech focuses solely on the engineering industry, MBA will open up your choices and make you adaptable to any industry. The choice entirely depends on individual aspirants. However, when it comes to the salary package, MBAs seem to have an upper edge compared to M.Tech. M.Tech graduates earn INR 6 to 12 lakhs on average, whereas MBA graduates can earn anything from INR 12 to 20 lakhs or more.

6Do IITians prefer MBA to M.Tech?

There is a general observation that after completing engineering from an IIT, the usual trend is to go for an MBA instead of an M.Tech. While there is nothing unusual or wrong with studying business management after engineering from the premier institute, the compensation that MBA graduates are offered is the most appealing factor here. MBA provides a much higher salary than M.Tech, and very importantly, the industry exposure gained through MBA is much broader and relevant to the requirements of the corporate sector.

7Who earns more, CA or MBA?

The average starting salary in India for a Chartered Accountant is Rs. 8.05 LPA, whereas the starting salary for someone with an MBA in Finance is Rs. 7.64 LPA