MBA Highest Package in India 2023-24: Check Companies, Hiring Trends

An MBA HR salary for a fresher ranges from INR 1.7 lakh to 4 lakh per annum. With 2-5 years of experience, one can earn between INR 3.5 lakh and INR 7 lakh per annum, and with more than 5 years of experience, the salary package ranges from INR 8 lakh to INR 24 lakh per annum. 

The top recruiters for MBA graduates in India are HDFC Bank, Accenture, TCS, GAIL, ONGC, ICICI Bank, Ernst & Young, PwC, Deloitte, KPMG, and Infosys, JP Morgan, and Standard Chartered Bank, among others.

Yes, you can become a CEO after MBA. You have to opt for MBA specializations in Marketing, Finance, Economics, Commerce, or any field related to the industry one is interested to work in. The average salary for a CEO in India is INR 30,94,746 per year.

The MBA specializations that have more jobs are MBA in Human Resource Management, MBA in Business Analytics, MBA in IT Management, MBA in Healthcare Management, MBA in Logistics and Supply Chain Management, MBA in Operations Management, MBA in Data Analytics, and MBA in Project Management. The average salary packages for few MBA specializations are provided below:

• MBA in Finance: INR 6,78,000
• MBA in Business Analytics: INR 10,00,000 - INR 18,00,000
• MBA in HR: INR 6,08,000
• MBA in Operations Management: INR 8,02,000
   

The average salary for MBA Finance is INR 3,98,526 per year in India. The highest paying jobs after an MBA Finance are Investment Banker, Financial Manager, Chief Technology Officer, Information Technology (IT) Director, and Investment Bank Manager, etc. The highest salaries in this domain stand at INR 16 LPA for Finance Manager, INR 23 LPA for Senior Finance Manager, and INR 5,15,000 per month for Lead Finance Manager.

According to Glassdoor, the average MBA salary in India 2023 is INR 1,19,500 per month. The average additional cash compensation for an MBA in India ranges from INR 99,000 to INR 99,000. For example, the average salary for MBA Marketing is INR 42,500 per month in India and the average additional cash compensation for an MBA Marketing in India is INR 15,000, with a range from INR 9,750 to INR 66,500. The average additional cash compensation for an MBA Finance in India is INR 48,526, with a range from INR 30,000 to INR 1,50,000. 

The MBA fields that have the highest salary are Banking & Financial Services, Business Analytics, Marketing Management, Human Resource Management, International Business, Financial Management. These specializations offer average salary packages of INR 11,24,127; INR 7,00,000; INR 9,43,553; INR 3,50,000 to INR 7,00,000; INR 10,00,000 to INR 15,00,000; and INR 7,00,000 to INR 20,00,000. 

The highest package in IIM 2023 is as follows:

• INR 1.14 CPA at IIM Indore 
• INR 1.15 CPA at IIM Calcutta
• INR 1 CPA at IIM Lucknow
• INR 61.49 LPA at IIM Ahmedabad
• INR 67.02 LPA at IIM Kozhikode
• INR 64 LPA at IIM Nagpur

Apart from these IIMs, a few other IIMs offer lesser salary packages like INR 26.19 LPA at IIM Sambalpur, INR 37 LPA at IIM Kashipur, INR 35.50 LPA at IIM Ranchi, and INR 30.50 LPA at IIM Bodhgaya.
 

The average salary of an MBA in India as of 2023 ranges from INR 23.07 LPA to INR 32.40 LPA. However, IMT Ghaziabad and XIMB Bhubaneswar offer average MBA salaries of INR 15.28 LPA and INR 17.54 LPA. The highest salary of an MBA in India 2023 ranges from INR 42 LPA to INR 1.14 CPA.

The MBA highest package in India can go up to INR 1.14 CPA offered by MDI Gurgaon. The average and median salaries offered at MDI Gurgaon stand at INR 26.07 LPA and INR 23.50 LPA, respectively. Followed by MDI Gurgaon, XLRI Jamshedpur offers the highest domestic salary over INR 60 LPA.