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MBA Salary
MBA salary primarily depends on the MBA specialization that one chooses. Finance, Marketing, General Management, Business Analytics, and Entrepreneurship are among the top MBA specializations that often fetch the highest salary after MBA. The highest-paying jobs in India after an MBA offer salaries ranging from INR 4,00,000 to INR 32,00,000 annually.
The starting MBA salary depends on other crucial factors like professional experience, the industry(ies) that the candidate has been associated with, the institute or college from which the candidate has completed their MBA programme, and the designation of the candidate. Notably, the scope for MBA graduates has drastically changed as a result of the rapid transition in industries.
The top recruiters of MBA course graduates in India include Whirlpool, Deloitte, Infosys, Amazon, Google, and so on. Let us now find out more about MBA salary, from the average salary to top recruiters for MBA graduates.
Table of Contents
- MBA Salary
- What is Average MBA Salary?
- Institute-wise Salary of MBA Graduates in India
- Specialization-wise Salary of MBA Graduates in India
- Salary of MBA Graduates in India: Job Role-Wise
- Job Opportunities after MBA in India
- Jobs After MBA: Government and Private
- Top Recruiters for MBA Graduates
- FAQs about MBA Salary
What is Average MBA Salary?
The 2020 Corporate Recruiters Survey by the Graduate Management Admission Council found that MBA holders make 77% more compensation than those with just a regular bachelor's degree. The National Institutional Ranking Framework (NIRF) states that, depending on the ranking of the business school, the average MBA salary in India ranges from INR 6,00,000 to INR 23,00,000 annually.
In India, the starting MBA salary for a professional is between INR 10,00,000 and INR 12,00,000 per year. An MBA graduate in India may expect to make an average starting salary of INR 9,00,000 annually. With time and experience, this figure might increase to INR 16,00,000 annually. Those with substantial experience who have ascended the corporate ladder often become eligible for the highest MBA salary.
Starting MBA Salary
The starting MBA salary for various types of courses is as follows:
| Types of MBA | Average Annual MBA Salary (in INR) |
|---|---|
| Regular MBA | 9,00,000 |
| Distance MBA | 5,50,000 |
| Online MBA | 5,00,000 |
| Executive MBA | 12,00,000 |
Institute-wise Salary of MBA Graduates in India
Students seeking MBA admission must note that many top colleges offer exceptional salaries during their placements upon graduation. Given below is a list of IIMs and non-IIMs and the highest and average MBA salary packages offered by them:
MBA Salary at IIMs
| Name of the IIM | Average Salary (in INR) | Highest Salary (in INR) |
|---|---|---|
| IIM Bangalore | 33.16 LPA | 80 LPA |
| IIM Calcutta | 34 LPA | 42.5 LPA |
| IIM Lucknow | 31 LPA | 32.20 LPA |
| IIM Ahmedabad | 26.13 LPA | 33.83 LPA |
| IIM Indore | 25.01 LPA | 49 LPA |
| IIM Kozhikode | 29.50 LPA | 61.5 LPA |
| IIM Shillong | 23.10 LPA | 55.22 LPA |
| IIM Bodh Gaya | 12.36 LPA | 30.50 LPA |
| IIM Raipur | 17.73 LPA | 42.15 LPA |
| IIM Tiruchirappalli | 17.01 LPA | 34.00 LPA |
| IIM Jammu | 13.53 LPA | 32.00 LPA |
| IIM Visakhapatnam | 15.06 LPA | 31.60 LPA |
| IIM Amritsar | 14.63 LPA | 25.21 LPA |
| IIM Udaipur | 17.50 LPA | 35.47 LPA |
| IIM Rohtak | 16.06 LPA | 32.00 LPA |
| IIM Kashipur | 15.21 LPA | 28.82 LPA |
| IIM Ranchi | 15.02 LPA | 26.50 LPA |
| IIM Nagpur | 16.74 LPA | 31.54 LPA |
| IIM Sambalpur | 12.64 LPA | 30 LPA |
| IIM Sirmaur | 12.74 LPA | 26.50 LPA |
MBA Salary at Non-IIMs
| Name of the IIM | Average Salary (in INR) | Highest Salary (in INR) |
|---|---|---|
| IMT Ghaziabad | 17.35 LPA | 65.60 LPA |
| SPJIMR Mumbai | 30.10 LPA | 53.16 LPA |
| K J Somaiya Institute of Management, Mumbai | 12.23 LPA | 22.50 LPA |
| GIM Goa | 14.30 LPA | 27.83 LPA |
| XLRI Jamshedpur | 32.70 LPA | 78.20 LPA |
| FMS Delhi | 32.40 LPA | 58.8 LPA |
| SJMSoM IIT Bombay | 25.90 LPA | 54 LPA |
| IIFT Delhi | 29.10 LPA | 46.50 LPA |
| JBIMS Mumbai | 27.63 LPA | 42 LPA |
| MICA Ahmedabad | 19.01 LPA | 57.52 LPA |
| DMS-IIT Delhi | 18.50 LPA | 36.70 LPA |
| SIBM Pune | 23.06 LPA | 45.50 LPA |
| Great Lakes Chennai | 18.10 LPA | 33.26 LPA |
| FORE New Delhi | 14.50 LPA | 23 LPA |
| XIM Bhubaneswar | 15.42 LPA | 26 LPA |
Specialization-wise Salary of MBA Graduates in India
Candidates must choose an MBA specialization field since it enables them to gain more in-depth information about their area of interest. The average compensation and the MBA salary range for various MBA specializations have been provided below:
| Specialization | Average Annual Salary (in INR) | Salary Range (in INR) |
|---|---|---|
| MBA in Finance | 7,33,577 | 5,80,000 - 22,00,000 |
| MBA in Marketing | 7,82,530 | 7,00,000 -25,00,000 |
| MBA in Business Analytics | 7,00,000 | 6,00,000 - 18,00,000 |
| MBA in Operations Management | 6,90,000 | 5,00,000 - 8,00,000 |
| MBA in Logistics Management | 6,60,000 | 2,50,000 - 20,00,000 |
| MBA in Human Resource Management | 5,23,253 | 5,20,000 - 11,64,000 |
| MBA in International Business | 7,88,000 | 7,40,000 - 24,20,000 |
| MBA in Entrepreneurship | 5,89,000 | 5,00,000 - 20,00,000 |
| MBA in Information Technology | 12,97,375 | 5,00,000 - 12,97,000 |
| MBA in Digital Marketing | 5,50,000 | 5,00,000 - 25,00,000 |
| MBA in Consultancy Management | 11,44,591 | 6,00,000 - 39,00,000 |
| MBA in Event Management | 4,50,000 | 4,10,000 - 18,50,000 |
| MBA in Hospital Management | 5,00,000 | 5,00,000 - 20,00,000 |
Salary of MBA Graduates in India: Job Role-Wise
Pursuing an MBA enhances one’s interpersonal and communication skills, and makes one eligible to embark upon leadership roles. Given below are the average MBA salary packages that candidates can expect depending on their MBA job position:
| Job Position | Average MBA Salary in India Per Year (in INR) |
|---|---|
| Financial Analyst | 5,23,000 |
| Finance Manager | 10,00,000 |
| Credit Manager | 5,80,576 |
| Senior Business Analyst | 10,00,000 |
| Account Manager | 7,10,360 |
| Marketing Executive | 2,93,000 |
| Marketing Manager | 7,86,000 |
| Senior Marketing Manager | 10,00,000 |
| Business Analyst | 5,81,000 |
| Brand Manager | 51,97,300 |
| Operations Manager | 3,50,000 - 8,00,000 |
| Supply Chain Program Manager | 4,50,000 - 12,00,000 |
| HR Manager | 3,60,000- 10,30,000 |
| Human Resource Head | 6,00,000 - 13,00,000 |
| Plant Manager | 16,68,000 |
| Risk Management Director | 52,50,000 |
| Marketing Sales Director | 38,00,000 |
| Corporate Auditing Director | 32,15,638 |
| International Finance Manager | 20,00,000 |
| Real Estate Development Manager | 44,48,646 |
Job Opportunities after MBA in India
Candidates can become eligible for the following jobs after MBA and grab a handsome MBA salary in India:
| MBA Specialization | Job Profiles |
|---|---|
| MBA in Human Resource Management |
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| MBA in Finance |
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| MBA in Marketing |
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| MBA in International Business |
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| MBA in Operations Management |
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| MBA in Information Technology |
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| MBA in Entrepreneurship |
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| MBA in Digital Marketing |
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Jobs After MBA: Government and Private
Candidates become qualified to apply for jobs both in the government and private sectors after pursuing an MBA in India:
Government Jobs After MBA
Candidates can find various government jobs after MBA in renowned organizations. Here are the top job roles one can find in govt. companies in India.
- CEO
- General Managers
- Specialist Officers
- Senior Executives
- Management Trainee
- Foreign Remittances In-Charge
Private Jobs After MBA
After graduation, students can find jobs in many private organizations in different sectors. Check out the top job profiles one can get while working in private organizations.
- Marketing Manager
- Branch Manager (Banking)
- Research Analyst
- Operations Manager
- Credit Manager
- Chief Technology Officer
- Health Services Manager
- Investment Fund Manager
- Senior Business Analyst
- Area Sales Manager
- Human Resources (HR) Manager
- Business Operations Manager
- Information Technology Director
- Business Development Manager
- Computer and Information Systems Manager
Top Recruiters for MBA Graduates
Given below is a list of MBA specializations, the top recruiters in those domains, and the recruitment areas:
Top Private Recruiters for MBA Graduates
| MBA Specialization | Recruitment Areas | Top Recruiters |
|---|---|---|
| MBA in Marketing |
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| MBA in Digital Marketing |
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| MBA in Finance |
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| MBA in Human Resources Management |
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| MBA in Business Analytics |
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| MBA in Entrepreneurship |
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| MBA in Operations Management |
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| MBA in Information Technology |
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| MBA in Event Management |
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| MBA in Healthcare Management |
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Top Government Recruiters for MBA Graduates
The most eminent government recruiters hiring MBA graduates and offering a high MBA salary have been listed below:
- BSNL
- ISRO
- Coal India
- Doordarshan
- Indian Railways
- Indian Air Force
- State Bank of India
- Reserve Bank of India
- Life Insurance Corporation of India
- National Payments Corporation of India
- National Mineral Development Corporation, etc.
FAQs about MBA Salary
Is MBA a good career?
Yes, MBA is a good career choice. Given today’s competitive global market, every student seeks admission to an MBA course. Any organization, be it small or large, are in dire need of MBA graduates not only for managerial roles but also for other marketing or sales-related job positions.
What is the monthly salary of an MBA graduate in India?
The monthly salary of an MBA graduate in India is INR 32,500, as per Glassdoor. However, with experience and the job role, the salary may increase to even INR 3,00,000 per month.
What are the top paying companies that employ MBA graduates?
Some of the top paying companies that employ MBA graduates include Deloitte, Goldman Sachs, McKinsey & Company, Bain & Company, Boston Consulting Group, Whirlpool, Accenture and more. These companies pay salaries ranging from INR 8,00,000 to 20,00,000 per annum.
What is the starting salary for an MBA graduate in India?
The starting salary for an MBA graduate in India is INR 9,00,000-12,00,000 per annum. This will, however, vary from one job role to another and one tends to be offered a higher salary when they have a degree from a reputed business school, have more years of experience or are located in a metro city.
What is the highest salary for an MBA graduate in India?
The highest salary for an MBA graduate in India is INR 35,00,000 per annum. Having said that, one must note that the figure shall change every financial year. Further, it would depend on the job role, location, years of experience and so on.
How does MBA salary in India change with experience?
MBA salary in India increases with professional experience. An individual with 1 to 4 years of experience earns an average salary of INR 4,00,000 per annum. After 5 years of experience, the annual compensation rises up to INR 8,00,000. After 10 years of working experience, they become eligible for an annual salary package of INR 14,00,000.
What are the top paying industries for MBA graduates in India?
The top-paying industries for MBA graduates in India include Corporate Finance, Retailing Management, Brand Management, Marketing Management, Asset Management, Training and Development, Information Technology, Health and Life Science, Healthcare, Logistics, and many more.
What are the top paying cities for MBA graduates in India?
The highest paying cities for MBA graduates in India are Gurgaon (Haryana), Bangalore (Karnataka), Mumbai (Maharashtra), Delhi, Chennai (Tamil Nadu), and Pune (Maharashtra). The average annual salary packages for MBA graduates in Gurgaon and Bangalore stand at INR 7,50,000 and INR 7,30,000, respectively.
What are the top skills required to become an MBA graduate?
The top skills required to become an MBA graduate include interpersonal and communication skills, strategic thinking and analysis, networking abilities, time-management abilities, decision-making skills, and leadership skills.
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