MBA Salary 2024 In India – Average MBA Salary As Per Specialization

MBA Salary 2024 In India – Average MBA Salary As Per Specialization

MBA Salary 2024 In India – Average MBA Salary As Per Specialization,Feb 16, 2024

Online MBA Programs

Feb 16, 2024

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Candidates seeking to advance their careers in the Business Administration domain with an integrated degree of MBA require dedication from seekers and in return offer several benefits. The MBA degree opens doors for candidates to apply for different MBA jobs. For instance, after completing an MBA degree candidates can pursue their careers in different fields such as Finance, Marketing, Technology, HR Management, and more. An MBA program provides ample career opportunities for candidates to develop their professional network with different industries, build management and leadership skills, and get the credentials to establish their careers.

If you are one of those individuals, who are confused about whether they should pursue an MBA degree or not and simultaneously are curious about the salaries of an MBA graduate, In that case, you are at the right place. In this blog post, we will explore everything about an MBA degree and how an MBA degree helps you boost your career and salary by upgrading your knowledge and leadership skills by providing job-specific learning with a meticulously designed curriculum that perfectly blends theoretical and practical knowledge that ultimately helps individuals in building their credibility.

Also Read: 11 Exciting MBA HR Project Ideas & Topics For Beginners [2024]

What salary one can expect with an MBA degree?

As per a recent survey, the average salary of an MBA graduate in India is around INR 4,51,096. However, the salary of an individual depends on several factors such as their role in an organization, company type, prior working experience, and location of the company. India holds the first rank around the globe for producing the largest number of MBA graduates every year, As the higher salaries in an MBA job attract students as well as working professionals to continue their careers in their specific domains.

We have listed the average salary of an MBA graduate in India in different specializations allowing them to make various entry-level MBA jobs.

1. Accounting and Finance: MBA  in accounting and finance can explore different career prospects such as accountant, account executive, financial analyst, account manager, and more. The expected average salary of an MBA graduate as per these job prospects is listed below:

  • Accountant: ₹3,18,266*
  • Account executive: ₹3,63,815*
  • Financial analyst: ₹5,69,508*
  • Account manager: ₹6,30,620*
  • Finance manager: ₹10,63,411*

2. Logistics and Supply Chain Management:- An MBA in Supply Chain Management (SCM) opens doors to diverse career prospects. Graduates can pursue roles as supply chain analysts, logistics managers, operations planners, procurement specialists, or distribution managers. They may also excel in consulting firms, manufacturing companies, retail giants, or global corporations, optimizing processes and enhancing efficiencies across the supply chain. The average salary of individuals who graduated with Supply chain management is listed below:

  • Business development manager: ₹12,42,516
  • Business process consultant: ₹9,30,950
  • Operations manager: ₹10,59,679
  • Purchasing manager: ₹11,63,334
  • Supply chain manager: ₹11,67,892

3. Operations Management:- With the growth of e-commerce and the increasing use of innovative technology by organizations, operations management presents a wide range of career options for recent MBA graduates. The following are a few common choices and their accompanying average salaries:

  • Business analyst, IT: ₹7,94,447
  • Operations manager: ₹8,65,481
  • Project manager: ₹12,30,433
  • Supply chain manager: ₹13,11,595
  • General manager: ₹16,63,530

4. Marketing management: An MBA in Marketing Management opens doors to diverse career prospects, including roles in brand management, digital marketing, market research, advertising, and sales management. Graduates can excel as marketing managers, product managers, social media strategists, or marketing consultants, leveraging their strategic insights and analytical skills to drive business growth and brand success in dynamic market environments. The following are some most common choices and their expected average salaries:

  • marketing managers: ₹4,000,000 to ₹8,000,000
  • product managers: ₹4,500,000 to ₹9,000,000
  • social media strategists: ₹3,000,000 to ₹6,000,000
  • marketing consultants: ₹3,500,000 to ₹10,500,000

5. Human Resource Management: MBA in Human Resource Management (HRM) equips graduates with skills vital for managing personnel effectively. Career prospects in HRM span across diverse industries, including corporate HR roles, talent acquisition, training and development, employee relations, and organizational development. Graduates may pursue roles as HR managers, recruiters, training specialists, or labor relations specialists, among others. The expected salaries of individuals at entry level in the HR Management domain are listed below:

  • HR Manager: INR 6-12 lakhs
  • Talent Acquisition Specialist: INR 4-8 lakhs
  • Training and Development Manager: INR 5-10 lakhs
  • Compensation and Benefits Manager: INR 6-12 lakhs
  • Employee Relations Specialist: INR 4-8 lakhs
  • HR Business Partner: INR 8-15 lakhs

6. IT Management: An MBA in IT Management offers diverse career prospects, including roles such as IT project manager, systems analyst, cybersecurity manager, and IT consultant. Graduates can also pursue opportunities in IT strategy and governance, business intelligence, and technology entrepreneurship. With a blend of business acumen and technical expertise, they are well-equipped to lead organizations through digital transformations and leverage technology to drive innovation and competitive advantage.

  • IT Project Manager: INR 12-20 lakhs
  • IT Consultant: INR 10-18 lakhs
  • IT Operations Manager: INR 15-25 lakhs
  • Chief Technology Officer (CTO): INR 30-50 lakhs
  • Information Systems Manager: INR 12-22 lakhs

7. Business Analytics: A MBA in Business Analytics equips graduates with a diverse skill set to excel in various career paths. With expertise in data analysis, statistical modeling, and predictive analytics, graduates can pursue rewarding roles as data scientists, business analysts, consultants, marketing analysts, and operations researchers in industries spanning finance, healthcare, technology, and beyond.

  • Business Analyst: INR 6-10 lakhs
  • Data Analyst: INR 5-8 lakhs
  • Business Intelligence Analyst: INR 7-12 lakhs
  • Data Scientist: INR 8-15 lakhs
  • Analytics Manager: INR 10-20 lakhs
  • Financial Analyst: INR 7-12 lakhs
  • Market Research Analyst: INR 5-8 lakhs
  • Operations Analyst: INR 6-10 lakhs

8. International Business Management: India serves as a hub for numerous international investors due to its rapidly expanding economy and stable market base. Similarly, Indian experts with a focus on international business possess the wide-ranging knowledge and viewpoint necessary to satisfy this need and support companies in staying ahead of the competition in the increasingly interconnected global business arena. Several well-liked roles are:

  • Business development associate: ₹5,38,706
  • Team lead, Operations: ₹7,55,723
  • Logistics manager: ₹10,45,904
  • Assistant general manager: ₹17,65,323
  • IT director: ₹45,91,258

9. Data Science Management: An MBA in Data Science Management equips graduates with the skills to thrive in a variety of careers. From data analysts and business intelligence specialists to data scientists and analytics managers, opportunities abound in industries ranging from finance and healthcare to marketing and technology. With the increasing importance of data-driven decision-making, graduates can secure rewarding positions as leaders in the rapidly evolving field of data science management.

  • Data Analyst: ₹6-10 lakh
  • Business Intelligence Specialist: ₹8-15 lakh
  • Data Scientist: ₹10-20 lakh
  • Analytics Manager: ₹15-25 lakh
  • Data Science Consultant: ₹12-18 lakh

10. Finance and Marketing: An MBA in Finance and Marketing Management opens up a plethora of career prospects in both financial and marketing sectors. Graduates can pursue roles such as financial analyst, investment banker, marketing manager, brand manager, product manager, or corporate strategist. Additionally, opportunities exist in market research, advertising, sales management, and financial consulting, providing a diverse range of career pathways for aspiring professionals in these fields.

The expected salaries of individuals in the Finance and Marketing domains are listed below:

  • Financial Analyst: ₹6-10 lakhs
  • Marketing Manager: ₹8-15 lakhs
  • Brand Manager: ₹10-18 lakhs
  • Investment Banker: ₹12-20 lakhs
  • Product Manager: ₹10-18 lakhs
  • Corporate Finance Manager: ₹12-20 lakhs
  • Market Research Analyst: ₹6-10 lakhs
  • Sales Manager: ₹8-15 lakhs
  • Business Development Manager: ₹10-18 lakhs

11. Healthcare Management: A MBA in Healthcare Management equips individuals with the skills and knowledge to excel in various career paths within the healthcare industry. Graduates may pursue roles such as hospital administrator, healthcare consultant, pharmaceutical project manager, healthcare IT manager, and healthcare policy analyst, offering diverse and rewarding opportunities to contribute to the improvement of healthcare delivery and outcomes.

The expected salaries of individuals seeking healthcare as their career prospect:

  • Hospital Administrator: ₹8,00,000+
  • Healthcare Consultant: ₹10,00,000+
  • Pharmaceutical Project Manager: ₹12,00,000+
  • Healthcare IT Manager: ₹9,00,000+
  • Healthcare Policy Analyst: ₹7,50,000+

12. Project Management: A  MBA in Project Management equips individuals with the skills and knowledge to oversee complex projects effectively. Graduates of this program can pursue diverse career paths, including project manager, program manager, project coordinator, consultant, and operations manager. These roles span various industries, offering opportunities for advancement and leadership in project-driven environments.

The expected salaries of individuals seeking project management as their career prospect:

  • Project Coordinator: ₹5-7 lakhs
  • Project Manager: ₹8-15 lakhs
  • Senior Project Manager: ₹15-25 lakhs
  • Project Director: ₹25-40 lakhs
  • Program Manager: ₹20-35 lakhs

13. Retail Management: A Master of Business Administration (MBA) in Retail Management equips graduates with skills to excel in various career paths within the retail sector. Graduates may pursue roles such as retail manager, merchandising manager, supply chain manager, sales director, or marketing manager. Additionally, opportunities exist in e-commerce, luxury retail, and omnichannel retailing, offering diverse career prospects in this dynamic and ever-evolving field. Following are the expected salaries of MBA graduates seeking job prospects in retail management:

  • Store Manager: ₹6,00,000
  • Retail Sales Associate: ₹3,00,000
  • Merchandiser: ₹4,50,000
  • Retail Operations Manager: ₹7,50,000
  • Retail Buyer: ₹6,50,000

14. Digital Marketing: An MBA in Digital Management equips graduates with skills in leveraging digital technologies to drive business strategies and operations. Graduates can pursue diverse career paths, including digital marketing manager, e-commerce strategist, data analyst, product manager, and social media strategist. With the increasing demand for digital expertise across industries, opportunities for advancement and innovation abound in this dynamic field.

Expected salaries of individuals pursuing Digital Marketing as their career prospect:

  • Digital Marketing Manager: ₹8,00,000
  • SEO Specialist: ₹4,00,000
  • Social Media Manager: ₹6,00,000
  • Content Marketing Manager: ₹7,00,000
  • PPC Specialist: ₹5,00,000
  • Email Marketing Manager: ₹6,50,000

15. FinTech Management: An MBA in FinTech Management equips graduates with the knowledge and skills to excel in the rapidly evolving field of financial technology. With expertise in areas such as blockchain, data analytics, and digital banking, career prospects abound, including roles in financial consulting, risk management, product development, cybersecurity, and investment analysis within innovative fintech startups, established financial institutions, and consulting firms.

Expected salaries of individuals pursuing FinTech Marketing as their career prospect:

  • FinTech Analyst: ₹8,00,000
  • FinTech Product Manager: ₹12,00,000
  • Financial Data Scientist: ₹15,00,000
  • FinTech Compliance Officer: ₹10,00,000
  • FinTech Marketing Manager: ₹14,00,000

16. Oil and Gas Management: An MBA in Oil and Gas Management equips individuals with the skills and knowledge needed to excel in various career paths within the energy sector. Graduates can pursue roles such as project managers, supply chain analysts, financial analysts, and operations managers in oil and gas companies, consulting firms, government agencies, and renewable energy enterprises, ensuring a diverse array of career prospects in this dynamic industry.

Below mentioned are the expected salaries of individuals pursuing job opportunities in Oil and Gas Management:
Certainly! Here are the names of positions in Oil and Gas management after an MBA program along with their expected salaries in ₹:

  • Project Manager: ₹12,00,000 - ₹20,00,000
  • Supply Chain Analyst: ₹8,00,000 - ₹15,00,000
  • Financial Analyst: ₹8,00,000 - ₹18,00,000
  • Operations Manager: ₹10,00,000 - ₹22,00,000

17. Agri-Business Management: An MBA in Agri-Business Management equips graduates with the knowledge and skills to thrive in various sectors of the agriculture industry. Career prospects include roles in agricultural production and marketing, food processing and distribution, agri-finance, agri-input supply, and agricultural policy development. Graduates may pursue opportunities as agri-entrepreneurs, farm managers, supply chain analysts, agricultural consultants, or policymakers, contributing to the sustainable growth and development of the agricultural sector.

Expected Salaries:

  • Agri-Business Manager: ₹6,00,000 to ₹12,00,000
  • Agricultural Marketing Manager: ₹5,00,000 to ₹10,00,000
  • Supply Chain Manager (Agri-products): ₹6,50,000 to ₹15,00,000
  • Farm Operations Manager: ₹4,00,000 to ₹8,00,000
  • Agri-Finance Manager: ₹7,00,000 to ₹14,00,000

18. Hospitality Management: An MBA in Hospitality Management offers a gateway to diverse career opportunities within the dynamic hospitality industry. Graduates can pursue careers as hotel managers, event planners, resort directors, restaurant managers, and tourism executives. Additionally, they can explore roles in hospitality consulting, leisure management, and corporate hospitality, providing ample avenues for professional growth and advancement.
Expected Salaries:

  • Hotel General Manager: ₹8,00,000 - ₹20,00,000 per annum
  • Revenue Manager: ₹6,00,000 - ₹15,00,000 per annum
  • Food and Beverage Manager: ₹5,00,000 - ₹12,00,000 per annum
  • Director of Sales and Marketing: ₹8,00,000 - ₹18,00,000 per annum
  • Operations Manager: ₹6,00,000 - ₹15,00,000 per annum
  • Human Resources Manager: ₹5,00,000 - ₹12,00,000 per annum
  • Event Manager: ₹4,00,000 - ₹10,00,000 per annum

19. Banking and Insurance Management: An MBA in Banking and Insurance Management offers graduates a diverse array of career prospects in the financial services sector. Graduates may pursue roles such as bank manager, insurance underwriter, risk analyst, investment banker, financial planner, or insurance claims adjuster. With specialized knowledge in banking and insurance, professionals can excel in managing financial products, assessing risk, and providing strategic financial advice to clients and organizations.

Expected Salaries:

  • Investment Banker - Expected Salary: ₹12-25 lakhs
  • Financial Analyst - Expected Salary: ₹8-15 lakhs
  • Risk Manager - Expected Salary: ₹10-20 lakhs
  • Insurance Underwriter - Expected Salary: ₹6-12 lakhs
  • Wealth Manager - Expected Salary: ₹8-18 lakhs

20. Finance Management: A Master of Business Administration (MBA) in Finance Management equips graduates with the skills and knowledge to excel in various financial roles. Career prospects in this domain include financial analyst, investment banker, corporate treasurer, risk manager, and financial manager. With expertise in financial planning, analysis, and strategic decision-making, graduates can pursue rewarding careers in banking, investment firms, corporate finance departments, and consulting firms.

Expected Salaries:

  • Financial Analyst - ₹ 6-10 lakhs 
  • Investment Banker - ₹ 9-20 lakhs 
  • Financial Manager - ₹ 10-25 lakhs 
  • Risk Manager - ₹ 8-15 lakhs 
  • Credit Analyst - ₹ 6-12 lakhs 
  • Corporate Treasurer - ₹ 12-30 lakhs 
  • Chief Financial Officer (CFO) - ₹ 25-50 lakhs

Top Recruiters

  • McKinsey & Company
  • The Boston Consulting Group (BCG)
  • Bain & Company
  • Goldman Sachs
  • J.P. Morgan Chase & Co.
  • Amazon
  • TATA Consultancy
  • Adani Group
  • Reliance
  • Google
  • Microsoft
  • Procter & Gamble (P&G)
  • Unilever
  • Johnson & Johnson
  • Coca-Cola
  • PepsiCo
  • IBM
  • Deloitte
  • PricewaterhouseCoopers (PwC)
  • Ernst & Young (EY)
  • KPMG
  • Accenture
  • Infosys
     

Also Read: Verified & Updated List of UGC/DEB Approved Universities for Distance Courses 2024

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Frequently Asked Queries

A1. The average MBA salary in India can vary based on factors such as the specialization, the reputation of the business school, the candidate's experience, and the industry. However, as of 2024, the average MBA salary in India ranges from ₹6 lakhs to ₹25 lakhs per annum.
 

A2. MBA graduates specializing in finance typically command higher salaries compared to other specializations. As of 2024, the average salary for finance MBA graduates in India ranges from ₹8 lakhs to ₹30 lakhs per annum, depending on factors such as experience, location, and the employer's industry.

A3 MBA graduates specializing in marketing usually have a wide range of career opportunities across industries. As of 2024, the average salary for marketing MBA graduates in India ranges from ₹6 lakhs to ₹20 lakhs per annum, depending on factors such as experience, location, and the employer's industry.

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