Completing an MBA can earn you a substantial pay hike compared to what you would make if you don’t obtain a Master’s of Business Administration at a reputable business school.
India is No. 2 only to the United States in terms of job opportunities if you have an MBA degree. The reported growth between 2014 and 2015 in MBA jobs in India was 33%, and the expected growth between 2015 and 2016 is 21%. So India is a great place to be if you have an MBA.
The Graduate Management Admission Council’s 2016 alumni survey finds, among other things, that MBA alumni earn a median $2.5 million in salary over two decades post-graduation while the amount they would earn over that same period without an MBAs is $500,000 less.
Other survey findings include the following:
- 59% of business school students opt to pursue their MBA to increase their salary;
- 80% say their degree did boost their earning potential; and
- 96% say their degree was personally, financially, and professionally rewarding.
But what sorts of jobs should consider if you have an MBA in India? According to Chakreview, the best-paying jobs after an MBA in India are – project manager, marketing manager, business development manager, business analyst, SAP consultant and Human Resource manager.
Read on to learn about to learn these 6 careers that will give you a salary boost if you have an MBA.
- Project Manager
If you earn an MBA, a project manager role can definitely give you some upwards momentum on the salary front. Such a role, which involves shouldering duties relating to project tasks, comes with an average annual salary of between INR 5.13 Lacs ($513,000) and INR 19.43 Lacs ($1.943 million). Skills you need to succeed in this role include managerial, teamwork, time-management, and communication.
- Marketing Manager
There are also many opportunities as a marketing manager, a role that requires strong managerial, analytical, interpersonal, and communication skills. The average salary for such a role is between INR 6 Lacs ($600,000) and INR 18.11 Lacs ($1.811 million) annually.
- Business Development Manager
If you’re looking for growth potential, the position of a business development manager will do it. Strong analytical, time-management, interpersonal, managerial, and communication skills are required to succeed at this job. Business development managers can earn an average annual salary of between INR 5 Lacs ($500,000) and INR 15.8 Lacs ($1.58 million).
- Business Analyst
In the event that you have strong communication, interpersonal, and analytical skills, then you might enjoy the position of a business analyst. For this position, the average annual salary works out to between INR 5 Lacs ($500,000) and INR 11.32 Lacs ($1.132 million).
- SAP Consultant
A job as an SAP consultant is considered a desirable post by many MBA grads. This position will require that you interact with customers to grasp their needs for SAP products, so the better you are at communicating and negotiating, the better you’ll do at this job. As for average annual salary, you can expect to make anywhere from INR 2.93 Lacs ($293,000) to INR 12.37 Lacs ($1.237 million).
- Human Resource Manager
A job as a human resource manager, which requires communication, leadership, and interpersonal skills, can bring with it a nice salary if you have an MBA. Average annual salary can go from between INR 2.4 Lacs ($240,000) and INR 12.14 Lacs ($1.214 million).
One Last Thing…
The above mentioned 6 careers will definitely give you a salary boost if you have an MBA. There are lots of MBA schools in India, so choose a reputable one, study hard, network intentionally, pursues internships, and apply to jobs you’re suited for.
With the right strategy in place and some hard work on your part, you’ll be well on your way towards a great-paying, fulfilling career after you earn your MBA. Good luck!