Updated on 29th March 2024 |6:00 PM |#MBACareerOptions
MBA, or Master of Business Administration, is a postgraduate degree that primarily focuses on developing management and leadership skills in the context of business. Many individuals opt to pursue an MBA to enhance their career prospects, acquire specialized knowledge, and elevate their earning potential.
In India, the spectrum of MBA career options encompasses roles such as project manager, consultant, financial analyst, marketing manager, and business development manager. According to a survey conducted by GMAC, an MBA salary tends to be approximately 77% higher than that of individuals holding a bachelor's degree. As of 2024, the average MBA salary in India is reported to stand at INR 7 LPA. However, it's important to note that this figure may vary significantly based on a variety of parameters.
Numerous career options await MBA graduates in India across diverse industries and sectors, offering a wide array of opportunities such as:
The pursuit of an MBA career offers several significant advantages, including:
Also Read: Reasons to Pursue MBA
Pursuing an MBA opens up many exciting career paths. Let's explore some of the high-demand and rewarding MBA career options:
MBA Career Options | Salary Range (per annum) | Job Description |
Management Consultant | ₹6 lakh to ₹30 lakh | Provide expert advice to organizations, analyze problems, recommend solutions, and drive organizational change. |
Financial Analyst | ₹5.9 lakh to ₹15 lakh | Assess financial data, conduct market research, and provide insights to assist in financial planning and decision-making. |
Marketing Manager | ₹5 lakh to ₹ 12.2 lakh | Coordinate marketing policies and programs, determine product/service demand, and lead marketing campaigns. |
Operations Manager | ₹7 lakh to ₹ 10.7 lakh | Manage the production of goods/services, ensure efficient resource utilization, and optimize processes for organizational effectiveness. |
Business Development Manager | ₹6 lakh to ₹ 8 lakh | Identify growth opportunities, develop strategic partnerships, and expand the organization's market presence. |
Human Resources Manager | ₹5.5 lakh to ₹12 lakh | Plan, coordinate, and supervise HR activities, including recruitment, training, employee relations, and performance management. |
Supply Chain Manager | ₹6 lakh to ₹14 lakh | Coordinate and analyze supply chain operations, optimize logistics, manage inventory, and ensure efficient distribution of goods. |
Product Manager | ₹6 lakh to ₹20 lakh | Improve products based on customer expectations, coordinate with finance, development, and marketing teams, and oversee product launches. |
Investment Banker | ₹8 lakh to ₹18 lakh | Study the market to help companies and clients make financial decisions, issue debt or sell equity, and manage financial transactions. |
Entrepreneur | Variable | Start and manage your business venture, including developing business plans, securing funding, and overseeing operations. |
To have a detailed overview of MBA Specializations, click here.
Landing a job after an MBA can be competitive and challenging at times. Starting to work on getting a job in your dream company while still completing your MBA can be a smart strategy. Here are some steps you can take:
There are many MBA career options and many recruiters actively participate in campus hiring programs to attract talented students. Some of the top recruiters after an MBA include renowned companies and organizations across various industries. Here are examples of top recruiters after MBA:
Industry | Top Recruiters |
Consulting Firms | McKinsey & Company, Boston Consulting Group (BCG), Bain & Company |
Technology Companies | Google, Apple, Amazon, Microsoft, Facebook |
Financial Institutions | JPMorgan Chase, Goldman Sachs, Morgan Stanley, Citibank |
Consumer Goods | Procter & Gamble (P&G), Unilever, Nestle, Coca-Cola, PepsiCo |
Healthcare | Johnson & Johnson, Pfizer, Merck, Novartis |
Retail and E-commerce | Walmart, Target, Costco, Amazon, Alibaba |
Automotive Industry | Toyota, Ford, General Motors, Tesla |
Consulting/Advisory | Deloitte, PricewaterhouseCoopers (PwC), EY (Ernst & Young), KPMG |
Getting into the right college plays an important role in deciding MBA Career options where education and placement records are significant. While IIMs have a strong reputation for education and placements, several other top colleges also offer excellent opportunities for students. Here are some of the top MBA colleges in India other than IIMs:
College Name | Fees (Approx.) | Average Placement Package (Approx.) |
Faculty of Management Studies (FMS), Delhi | Rs. 2-3 lakhs | Rs. 25-30 lakhs per annum |
XLRI Jamshedpur | Rs. 23-25 lakhs | Rs. 22-25 lakhs per annum |
SP Jain Institute of Management and Research (SPJIMR), Mumbai | Rs. 18-20 lakhs | Rs. 22-25 lakhs per annum |
Indian Institute of Management (IIT) Delhi (DMS) | Rs. 9-12 lakhs | Rs. 18-22 lakhs per annum |
IMT Ghaziabad | Rs. 15-17 lakhs | Rs. 12-15 lakhs per annum |
SJMSoM, IIT Bombay | Rs. 8-10 lakhs | Rs. 20-25 lakhs per annum |
SIBM Pune | Rs. 16-18 lakhs | Rs. 20-22 lakhs per annum |
Management Development Institute (MDI), Gurgaon | Rs. 20-22 lakhs | Rs. 20-24 lakhs per annum |
Xavier Institute of Management (XIM), Bhubaneswar | Rs. 18-20 lakhs | Rs. 15-18 lakhs per annum |
Great Lakes Institute of Management, Chennai | Rs. 16-18 lakhs | Rs. 12-15 lakhs per annum |
Yes, you can pursue an MBA at other reputed business schools in India besides IIMs. These schools offer diverse specializations and good MBA career options.
Yes, an MBA can be a highly rewarding career option with increased job opportunities and the potential for higher earnings.
After an MBA, you can pursue various roles such as management consultant, financial analyst, marketing manager, operations manager, business development manager, and human resources manager, among others.
Some high-paying MBA jobs often include roles like Chief Executive Officer (CEO), Chief Financial Officer (CFO), Vice President of Finance, Investment Banker, Management Consultant, and Product Management Director.
The most in-demand MBA specializations for 2024 include Artificial Intelligence & Machine Learning, Business Analytics & Big Data, Entrepreneurship, and Financial Management among others.