We live in a country that gives a lot of weightage to not only the education qualification but also the brand name of the college/ university. Earning a degree from a tier 1 college could land up a higher salary as compared to the relatively lower tiers. Similarly, the level of education i.e. whether you have pursued a Master’s degree or a PhD./ Doctoral degree will command a better price in the market for you.
The years of experience are another factor that is essential for determining how high up the salary ladder you will be when getting a job or changing companies. Typically, a fresher fetches a lower salary as compared to a professional with decent years of experience.
There is a 28.4% increase in Management salaries for experienced candidates with over 10 years of experience. In mid-career, management graduates can expect a salary hike of up to 33.2%.
Owing to the cost of living across cities, the geographical location of your posting impacts your salary. Mumbai is the highest paying city, followed by Bangalore. The salaries you could fetch in tier 1 cities like Delhi, Mumbai, and Bangalore are far more than the rural or tier 2, or tier 3 cities.
The specialization you opted for, whether it is Finance or Marketing, Human Resources or Information Technology, makes a difference to a candidate's salary too.
As discussed in the aforementioned, salaries vary owing to various factors. As per the latest report, management professionals can earn anywhere between Rs 307k to Rs 2 million per annum.
MBA is the most sought-after route for any management aspirant. MBA Salary in India ranges from INR 7,00,000 – 12,00,000 per annum on average for various kinds of MBA courses. As per the payscale, the average MBA salary in India for 2021 is INR 7,71,801.
The university a candidate graduates from can affect their placement rate and average salaries. Candidates who graduate from top-ranking universities often land more lucrative job designations and salary packages. Some of the top-ranking universities and the starting average salary for the candidates are given below:
A candidate can expect an average salary of INR 752K per annum after an MBA in finance. Candidates with higher experience and skills can fetch INR 2M per annum as Finance Managers and Senior Business Analysts.
Among the top recruiters of MBA Finance graduates are EY, HDFC Bank, Accenture, and TCS.
The majority of industries and businesses, regardless of their size, have turned to digital marketing. Hence, candidates with an MBA in Marketing are hot commodities in the job market.
A graduate with an MBA in Marketing can expect an average salary of INR 808 lakh per annum. Senior employees can fetch up to INR 2M - 3M as Regional Sales Managers and Business Development Managers. Average salaries: INR 14,25,000 to INR 20,43,000.
Average Salary Hike
Analyse the environment, conduct user research across online and offline retail shoppers, suggest features of improvement for a seamless experience and metrics to measure your success for a niche e-commerce apparel brand.
Establish the target market for hourly booking of hotels, user needs, growth opportunities, and build a Minimum Viable Product (MVP) and identify relevant success metrics.
Analyse and improve the transnational funnel of the online ticketing platform.
Help increase the number of recharges for Freecharge by improving the growth hack funnel. Propose retention, referral and revenue growth hacking strategies to achieve business goals.
Conduct an analysis of key competitors of a healthcare product
Create a business plan for cab-sharing app’s expansion to the Indian market and represent it using the Business Model Canvas
Design and sketch a wireframe for a hypothetical health-based app that tracks and monitors health and fitness
Create a product backlog and figure out epics and user stories for a feature for an OTT platform
Prioritise tasks and feature updates for a cab-sharing app’s operations