MBA (Master of Business Administration) is one of the most popular postgraduate courses in India. The degree is considered valuable as it helps individuals develop skills in leadership, management, and problem-solving, which are necessary to succeed in the business world. However, one of the most common questions that arise in the minds of MBA aspirants is the expected salary after completing the course.
In this article, we will discuss the average salary of an MBA in India per month, factors affecting the salary, and job roles that offer the highest pay packages.
What is the average salary of an MBA in India per month?
The salary of an MBA in India varies depending on several factors, such as work experience, job role, location, and industry. According to a survey conducted by PayScale, the average salary of an MBA graduate in India is Rs. 7.0 lakhs per annum, which translates to approximately Rs. 58,333 per month.
Factors affecting the salary of an MBA in India
- Work experience:
The salary of an MBA in India increases with work experience. As an individual gains more experience, they become more valuable to employers, which leads to higher salaries. For example, a fresher with less than one year of experience can expect an average salary of Rs. 4.7 lakhs per annum, while an MBA graduate with more than 20 years of experience can earn up to Rs. 40 lakhs per annum.
- Industry:
The industry in which an MBA graduate works also affects their salary. For example, MBA graduates working in consulting, banking, and finance typically earn higher salaries compared to those working in the manufacturing and healthcare sectors.
- Job role:
The job role is another critical factor that affects the salary of an MBA graduate. Some job roles, such as business development manager, finance manager, and marketing manager, offer higher salaries compared to others.
- Location:
The location of the job also plays a significant role in determining the salary of an MBA graduate. For example, salaries are higher in metropolitan cities such as Mumbai, Delhi, and Bangalore compared to other cities.
Job roles that offer the highest pay packages for an MBA in India
- Management consultant:
Management consultants are professionals who advise organizations on how to improve their performance. They typically work in consulting firms and offer their expertise to clients across various industries. The average salary of a management consultant in India is Rs. 12.3 lakhs per annum.
- Investment banker:
Investment bankers are professionals who help companies raise capital through mergers and acquisitions, initial public offerings (IPOs), and other financial transactions. The average salary of an investment banker in India is Rs. 10.4 lakhs per annum.
- Product manager:
Product managers are responsible for developing and managing a company’s products or services. They work with cross-functional teams to ensure that the product meets customer needs and generates revenue. The average salary of a product manager in India is Rs. 14.3 lakhs per annum.
- Marketing manager:
Marketing managers are responsible for creating and implementing marketing strategies that promote a company’s products or services. They work closely with sales teams to generate leads and increase revenue. The average salary of a marketing manager in India is Rs. 9.6 lakhs per annum.
Conclusion
In conclusion, the salary of an MBA graduate in India varies depending on several factors such as work experience, job role, industry, and location. While the average salary of an MBA graduate in India is Rs. 7.0 lakhs per annum, some job roles offer much higher salaries. Therefore, it is essential to consider
