Mba starting salary in india

SPECIALISATION IN MBA

Management has a lot of specialized departments like Human resources, Marketing, Media & Communication, Finance, Supply chain, and a lot more.

While the MNCs tend to pay better wages to the management school postgraduates, the corporates that deal with Fast Moving Consumer Goods (FMCG) are more inclined toward the marketing pass-outs, and they are paid handsomely.

At the same time, the Banking / financial sector opts for the people of a Finance background.

Important Factors on which Salary is Dependent

The factors that are vital to the individual's remuneration are as follows:

1. The MBA specialisation opted: The current status of the initial offers for the specified specialisations is as under.

• Marketing - around Rs 20,00,000/- PA.
• Human Resources - around Rs 15,00,000/- PA.
• Finance - around Rs 14,00,000/- PA.

2. Experience of the candidates: The salary will be proportionate to the past earnings, and for able candidates could be even exponentially high (almost 50% high). If you are elevated in status, you might earn a lot more.

3. Industry: A lot depends on the type of industry where you are selected. The corporates that offer you a good remuneration are likely to be the following:

• Multi-National Companies (MNC).
• Highly profitable ventures.
• The nature of business.

4. Institute / College of passing:

• Indian Institute of Management (IIM).
• Faculty of Management Studies (FMS), Delhi.
• Management Development Institute (MDI), Gurugram.
• Xavier Labour Relation Institute (XLRI), Jamshedpur, Jharkhand.
• S. P. Jain Institute of Management Research (SPJIMR).
• Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai.

MBA Starting Salary

The starting salaries of students emerging out of the institutes are as follows:

SPECIALISATION WISE

The starting remuneration as per the specialisation is as follows:

Average starting salaries of postgraduates in Management Cadre and their respective functions are listed below.

Finance

1. Analyze company reports.
2. Maximise stock values.
3. Forecast economic trends.
4. Maintain risk/profitability balance.
5. Investment portfolio management.

Average Salaries per Annum:

Human Resources

The need to induct employees has risen manifold, and along with it the requirement of HR personal has increased as well.

Over the years, HR has gained much traction among the specialization subjects in management due to their need to surface in areas beyond recruitment.

Today their functions include

1. Employee recruitment.
2. Design of a process for performance measurement.
3. Employee retention.

Average Salaries per Annum:

Information Technology

They function as the resource needed by corporates to plan, implement, use and manage the current and all updated information and communication techniques.

Average Salaries per Annum:

Logistics

It is a supply chain management that deals with the planning, implementation, controlling the flow and the storage of goods between the point of origin and consumption.

Average Salaries per Annum:

Marketing

Their functions are primarily to promote their products them marketing them through various services and by multiple means. They study the market, retain sales and device means to enhance product quality notwithstanding the volume of the product sold.

Average Salaries per Annum:

Highest Paying Jobs for MBA

Some of the most highly paid jobs after your MBA are listed below. You may take up any of them if you like them.

Operation Analyst:

• National Average Salary: Rs 34,642/- per month
  
  
• Work Details: They work with the sole intention of improving operations. They are engaged in optimising the allocation of funds and resources, creating a good supply chain through a pricing policy that gives a cost advantage to the establishment without hampering the supply quality.
  
  Complex methods are used for statistical analysis, economic simulations and predictive modelling to retain/improve the business's profitability.

Investment Banker:

• National Average Salary: Rs 42,090 per month
  
  
• Work Details: Their functions are related to investments / selling equity in companies, helping in mergers and acquisitions, and advising regarding investments and such matters.

Business Consultant:

• National Average Salary: Rs 43,586 per month
  
  
• Work Details: To provide additional expertise to improve productivity, hence efficiency and profitability, while planning changes in customer demographics.
  
  They also advise executives on specific issues. Consultants are specialised in a particular industry such as retail sales, healthcare and transportation.
  
  

Project Manager:

• National Average Salary: Rs 46,339 per month
  
  
• Work Details: They are involved in projects starting from the time the same is handed over to them by marketing. They manage the scheduling, deadlines, and supply chain.
  
  They regularly update the stakeholders regarding the stages of completion of the project.

Finance Manager:

• National Average Salary: Rs 49,231 per month
  
  
• Work Details: They are responsible for determining the company's financial goals and strategising accordingly to achieve the same. They could advise the executives regarding the plans and keep stakeholders connected.

Business Intelligence Analyst:

• National Average Salary: Rs 60,925 per month
  
  
• Work Details: Their job is to provide insight to the executives through data. This is generally connected to improving operations and enhancing profits.

Product Manager:

• National Average Salary: Rs 60,961 per month
  
  
• Work Details: They coordinate with the other functions to create new products. They even handle the marketing to decide on the product features that could make an impact on the market. They are MBAs with a focus on marketing as well.

Chief Technology Officer:

• National Average Salary: Rs 70,568 per month
  
  
• Work Details: His responsibilities involve proper technology implementation in the workplace. It means optimisation of its usage and with an eye on the market to identify new technologies that may contribute to a greater extent to his business needs.
  
  Hiring staff to oversee technological issues and creating a tech-related protocol for the employees to comply with are some of his significant functions.

Chief Financial Officer:

• National Average Salary: Rs 72,868 per month
  
  
• Work Details: Their functions include making provisions for funds in the company to obtain long-term financial goals. To forecast financial performance and report the same accurately and on time.

Marketing Managers:

• National Average Salary: Rs 50,000 per month
  
  
• Work Details: They are primarily into advertisement campaigns either through print media, electronic media or social media. They endeavour to enhance the brand and create more significant sales.

ERP Software Consultant:

• National Average Salary: Rs 58,391 per month
  
  
• Work Details: Their function is to assess and optimise the software to meet the user's operational needs. They train the user providing him with insights into the system's working.

Indian Startups and the Unicorn club:

• Unicorn is a less than ten-year-old company valued at $one billion or more by investing agencies.
  
  
• The combined valuation of these unicorns is $333 Bn.
  
  
• As they are service-based industries, their prime requirement is a competent human resource. Since they are not brick motor enterprises, their spending is more on wages and advertisement.
  
  
• They are found during times of campus placement on the first day itself, reflecting on their ability to pay the employees.
  
  
• There will come a time in the future when the unicorns may hire the best of talents. However, they are still on a sticky wicket with survival and uncertainty issues at the forefront. 

List of Top Colleges offering Management course

ELIGIBILITY

First, let us look at the eligibility criteria and the exams needed to be given.

1. CAT Score: Overall percentile score obtained in the CAT exam will decide the college to which you are entitled to be allocated admission.
   
   
2. Graduation Score or Equivalent course: The aggregate score obtained in three years.
   
   
3. Class 12 Score or Equivalent course: Percentage obtained.
   
   
4. Class 10 Score or Equivalent: Percentage obtained.
   
   
5. GD-PI/ WAT Scores: The performance of the candidates in each of these activities are assessed, and marks are given accordingly. GD - Group discussion, PI - Profitability Index, WAT - Written Ability Test.
   
   
6. Academic Diversity: Candidates from non-engineering backgrounds are allocated extra points for fair representation.
   
   
7. Gender Diversity: The IIMs give extra points to the transgender community for fair representation. This is true for all colleges, but the points may vary. 
   
   
8. Work Experience: Extra points (1 to 5) are awarded to work experience, which changes on each campus.

List of some of the top colleges for MBA study:

Indian Institute of Management (IIMs):

They are located in Ahmedabad, Bangalore, Calcutta, Lucknow, Kozhikode, Indore, Shillong, Rohtak, Ranchi, Raipur, Tiruchirappalli, Kashipur, Udaipur, Nagpur, Visakhapatnam, Bodh Gaya, Amritsar, Sirimaur, Sambalpur, Jammu.

S. P. Jain Institute of Management Research (SPJIMR):

Located in Mumbai

National Institute of Technology (NIT):

Located in Trichy, Warangal.

Vellore Institute of Technology:

Located in Vellore

Jamia Millia Islamia University:

Delhi.

Xavier Labour Relation Institute (XLRI):

Located in Jamshedpur.

Symbiosis Institute of Business Management:

Located in Pune.

Narsee Monjee Institute of Management Studies (NMIMS):

Location in Mumbai.

Lal Bahadur Shastri Institute of Management (LBSIM):

Located in New Delhi.

Birla Institute of Management Technology:

In Greater Noida.

Banaras Hindu University:

Located in Varanasi.

Woxsen University:

Located in Hyderabad.

Conclusion

We have had a view of the essential ingredients that form the cornerstones of management institutes. While there is a marked difference between the IIMs and various other institutes with regard to the intake of students, the ingredients remain unchanged.

There may be a slight variation in the recruitment of the faculty, and that would account for the only change. A good management person has inherent talents, which may not be reflected in his academic performance.

If you have an inclination for management studies, you should join any of the colleges listed above. If you prefer to study theory in-depth, it is a different ball game altogether. 

Frequently Asked Questions (FAQs)

Q1. What is the minimum salary after MBA in India?

The minimum wage for an MBA in India will start in the region of around Rs 5.0 Lakh per annum. It may rise further in due course if you initiate changing your workplace or looking ahead for better posting in the same place.

Q2. What is the MBA starting Salary in India per month?

The average salary of an MBA in a specialised area of work can be up to Rs 60,000 per month. The pay will depend a lot on the hierarchy he occupies.

Q3. What is the entry-level salary of an MBA?

The entry-level salary may be around Rs 5.0 Lakh per annum. It must increase rapidly in due course. The entry-level salary of an ivy league premier institution like IIMs may be much higher in comparison (in the region of Rs 30 to 40 lakhs per annum).

Q4. Which MBA gets the highest salary in India?

The maximum wages in India are reserved for an MBA in Marketing, followed by Finance and Human Resources. Marketing is an essential function in a country like India, a manufacturing hub of the globe. It imports technology from Europe and the US.