Post Graduate Diploma in Management, or PGDM in short, is one of the most coveted courses today. After completing a PGDM course, you can pursue various management and leadership careers in different industries.
No matter what industry you work in, completing a PGDM course will enhance your career significantly. However, you might ask, “How beneficial it is to get a PGDM course?”
To answer this question, we have prepared the following article on the average PGDM salary in India. It will throw light on how financially rewarding this course is and what kind of jobs you can pursue with this qualification.
What is the Average PGDM Salary in India?
The average PGDM salary in India is INR 7.73 lakh per year. Professionals with this qualification work in various industries such as IT, finance, retail, and many others. However, you should note that the average PGDM salary in India is the median of all the roles you can get with this qualification.
PGDM is one of India’s most sought-after qualifications as it makes you a potential candidate for companies and organisations across all parallels of the industry. With a PGDM, you can get promoted to senior roles, shift industries, or start getting higher pay. The demand for management professionals is steadily rising as companies look for business experts competent enough to solve real-world business challenges in a post-pandemic world.
According to a survey, nearly 19% of companies reported that the most in-demand roles were managers and sales & marketing executives. Tech professionals came second in that list.
The high demand for management professionals is a big reason why the average PGDM salary in India is so impressive. Moreover, management is a pivotal aspect of every business. No matter what industry your company belongs to, it can’t function properly without skilled management professionals. This is another reason why the demand for PGDM professionals is significantly high.
You can expect to see the pay for this qualification increase further as different industries pick up the pace.
Jobs that Offer the Highest PGDM Salary in India
Your PGDM salary in India depends on many factors such as what industry your work in, what your job is, and the amount of your professional experience.
Management is a broad field and has many sub-domains. When you take a PGDM course, you have the option of specialising in one of those sub-domains and enter a specific industry. For example, if you complete a PGDM course in HR, you can pursue various roles in the human resources management sector.
Due to these reasons, there are a ton of jobs you can pursue with a PGDM certification. Now, we will look at some of the highest paying roles for professionals with this qualification. You can use this information to figure out what careers you want to pursue in this industry and chart out a career plan accordingly.
1. Finance Manager
A finance manager earns an average salary of INR 9.91 lakh per annum in India. Pay in this field starts from INR 3.5 lakh per year and goes up to INR 20 lakh per year, including shared profits, bonuses, and commission.
Entry-level finance managers earn around 48% less than the industry average. Similarly, early-career finance managers earn 26% less than the average. On the other hand, late-career finance managers and experienced finance managers make 21% and 19% more than the market average, respectively.
What Does a Finance Manager Do?
A finance manager is responsible for developing and monitoring departmental budgets. They also have to make necessary financial forecasts for their organisation to plan the finances accordingly. Finance managers work with the managers of other departments to determine the organisation’s financial requirements.
They also assist the operations managers in conducting monthly operations reviews and provide analyses to the same. Finance managers ensure that all the projects take place on time to avoid delays and additional expenses. They must have strong analytical and communication skills.
2. Operations Manager
An operations manager earns an average salary of INR 7.65 lakh per year in India. Their pay ranges from INR 2.96 lakh per annum to INR 20 lakh per annum, depending on their experience and skills. Skills that offer the highest salaries in this profession are Program Management (187% more than the average) and IT Security & Infrastructure (127% more than the average)
What Does an Operations Manager Do?
Operations managers observe and manage the organisation’s operational costs. They handle multiple departments such as warehousing, purchasing, and manufacturing to ensure everything runs smoothly.
Operations managers manage the staff and make decisions regarding their hiring, promotions, compensation, discipline and termination. They might also have to set sales and revenue goals depending on their organisation’s size and industry. Operations managers ensure that all business operations adhere to government rules and regulations. Thus, they must stay updated with any changes in the industry standards and government regulations.
3. Sales Manager
A sales manager in India earns an average salary of INR 4.88 lakh per year. Their income ranges from INR 2.48 lakh per year to INR 10 lakh per year. An entry-level sales manager with less than a year’s experience makes INR 3.33 lakh per annum on average, while those with one to four years of experience make INR 3.89 lakh per annum on average.
Sales managers with five to nine years of experience make INR 5 lakh per annum, and those with 10 to 19 years of experience earn INR 6.88 lakh per annum on average. Those having 20+ years of professional experience earn an average salary of INR 9.5 lakh per annum.
What Does a Sales Manager Do?
Sales managers manage and supervise daily sales activities and sales associates. They implement the organisation’s sales programs and work with their sales associates’ teams to achieve sales goals. Sales managers constantly interact with clients and ensure that they get a quality experience.
4. Human Resources Manager
The average salary of a human resources manager in India is INR 7.01 lakh per year. Pay in this field starts from INR 2.91 lakh per year and goes up to INR 20 lakh per year, including shared profits and commissions.
Their pay depends heavily on their experience and expertise. HR managers with Team Management skill earn 98% more than the average, while those with Sourcing skill earn 85% more than the median. Similarly, HR managers with Vendor Management skill make 58% higher, and those with International Human Resources skill earn 43% more than the median.
What Does a Human Resources Manager Do?
A human resources manager (also known as HR manager) is responsible for all the HR activities in their department, including recruitment, onboarding, training, firing, etc. They have to ensure that they provide the employees with a productive environment to keep all the operations smooth.
HR managers have to resolve workplace issues, including issues between employees and those between employees and supervisors. They handle payroll and other employee benefits (sick leaves, maternity leaves, insurance, etc.). HR managers usually have to train and coach junior HR managers and HR executives. They are responsible for ensuring that the company operations comply with the local, state, and central laws.
5. Product Manager
The average pay of a product manager in India is INR 17 lakh per annum. Their average income in India ranges from INR 7 lakh per annum and goes up to INR 30 lakh per annum, depending on their experience, skills, and employer.
Early career product managers earn around 25% less than the median, while experienced product managers (10+ years of experience) earn 73% higher than the average.
What Does a Product Manager Do?
A product manager is responsible for the entire lifecycle of a particular product. This includes the idea generation, development, testing, launch, and performance of the product. They have to identify and monitor industry trends to generate ideas for new products for their organisation and determine the demand for their current products.
Product managers also have to take the customer feedback into account for their existing products to find areas of improvement. They work with different departments in a company, such as the marketing department, development team, etc., for their product.
6. Marketing Manager
A marketing manager makes INR 6.88 lakh per year in India on average. Their pay ranges from INR 2.87 lakh per year to INR 20 lakh per year, including shared profits, bonuses, and commissions.
Experience plays a vital role in determining your pay in this field as marketing managers with less than a year’s experience earn INR 4.16 lakh per year on average. In contrast, those with one to four years of experience earn INR 5 lakh per year. Similarly, those with five to nine years of professional experience in this sector earn INR 7.3 lakh per year. Professionals having 10 to 19 years of experience usually earn INR 9.59 lakh per year on average.
What Does a Marketing Manager Do?
A marketing manager is responsible for supervising and creating the different sales and advertising campaigns of their organisation. They might be assigned to handle the marketing and promotion of one product, brand, product line or the entire organisation. They monitor the performance of their promotional campaigns to find areas of improvement and make changes accordingly.
Becoming a management professional is a dream for many, and completing a PGDM course can help you achieve it. At upGrad, we offer a PGDM with the Birla Institute of Management Technology that can help you get on this path and pursue the careers we discussed in this article. Birla Institute of Management Technology is among the best management institutes in India. This PGDM course will let you learn from their experts.
As it’s an online course, you can very well continue to upskill while maintaining your personal and professional commitments. It will help you learn the necessary skills and subjects you need to excel in management and leadership.