Masters in Business Administration or MBA is one of the most sought-after courses after undergraduate studies. In this article, we will focus on the opportunities to score highest paying jobs for MBA graduates. It is a professional course and provides a plethora of job opportunities once completed. MBA graduates have been in high demand and this demand is not going to slow down for a very long time. MBA can be pursued after completing your bachelor’s in any subject, and this makes a change in the stream very seamless.
Most companies hire MBA graduates as they are very skilled. They possess qualities such as strong analytical skills, critical thinking, communication skills as well as entrepreneurial abilities. Companies want multi-skilled talents that have niche domains skills as well as leadership and management skills.
The salary of an MBA graduate depends a lot on the amount of experience they have along with their performance. A fresher who is from a top B-school is definitely going to score a greater package than a student from a tier-2 or tier-3 college, but if an individual is competent enough, no one can stop him from reaching the same pay grade/ job.
Yet there are certain points to look at if you want to earn big:
Let us take a look at the highest paying jobs for MBA graduates in India along with the skill-set required and the remuneration one can expect for that role.
After completion of their graduation, persons are hired by corporate entities at Project Manager Profiles. As a project manager, they are assigned a specific project to handle and lead. The management of these projects may include planning, strategy, growth forecasts, team building, execution as well as achieving the proposed targets.
Since the work of a project manager is to see a product from the start to the end, they are in charge of the financial aspect as well. A project manager should possess these skills:
Remuneration / Salary: A fresh MBA graduate should expect to draw anywhere around 4 to 5 Lacs per annum. An experienced project manager with more than 15 years of experience earns nothing less than Rs 1300,000 per year. This is one of the best highest paying jobs for MBA graduates.
Investment banking is definitely the highest paying job for MBA graduates. Persons who wish to become Investment bankers should opt for subjects related to finance during their masters. It is a very demanding job but if you’re hard-working, a heavy pay-check is guaranteed.
Investment Bankers are financial advisers who help their clients raise money in the market. They provide various advisory services and assist with mergers, underwrite for major deals, help with large transactions and pension funds as well as acquisition activity (equity financing and issuing bonds). It is a very financially secure career and in most cases, non-MBA graduates are not able to score this job. Top B-school graduates are hired for investment banking. The prerequisites are an amazing resume, great transcripts, and a spectacular interview process. In the initial years, most people work for very long hours but with time and seniority, these hours level off, and individuals start setting their own hours and choosing their own projects.
A freshly graduated Investment banker earns around Rs 6,80,000 per and year after the experience, an Investment banker can move up to Rs 3,000,000 per year.
Financial managers are in charge of the overall monetary health of their organization. They are in charge of keeping the bank accounts healthy, ensuring that the people under them are organized, and maintaining the long-term financial paperwork as well. It is their duty to create and update financial statements, business activity reports, and cost reports.
All companies require a person who is able to manage their finances; therefore, these people should not only possess financial skills but knowledge in marketing, credit, business, etc.
A freshly graduated finance manager earns around Rs 7,19,569 per year and after the experience, they can move up to Rs 1,818,000 per year.
Many MBA graduates choose Financial Management as this one of the highest paying jobs for MBA graduates.
Marketing managers oversee all marketing campaigns for their company or department. They are basically the ones who create marketing strategies for their business or a product to push their company forward. Marketing managers bring more and more clients/ customers to the company and help in expansion. Their work includes researching trends, estimating demand, identifying new opportunities, and developing effective marketing campaigns.
It is a popular career for individuals who enjoy advertising, customer service, and creative vision. This is a high-paying MBA job that does not come with the same amount of stress that some other top-paying MBA jobs do. So, this is definitely one of the best jobs after an MBA.
Their responsibilities are as follows:
– creating promotional information to drive business
– managing budgets for marketing campaigns
– testing new marketing opportunities
– building relationships with media outlets
A freshly graduated marketing manager earns around Rs 5,17,000 per year and experience this salary can be bumped up to Rs 18,00,000 per year.
A business development manager is the one who diversifies and develops the business model of a company. The work profile of a BD manager includes devising growth plans and strategies, proposing executable plans for expansion of the business, managing and retaining relationships with existing clients, increasing client base, having an in-depth knowledge of business products and value proposition, and so on.
These are some of the skills that a business development manager should possess:
A freshly graduated Business development manager earns around Rs 5,50,000 per year and after the experience, their salary can bump up to Rs 18,88,000.
Business Management is among the top best highest paying jobs for MBA graduates.
We have listed some of the best jobs after MBA, let us now take a look at which ones are the highest paid MBA streams.
MBA in Finance
Finance management is a major requirement for every company because it enables proper management of assets. They plan and control all the financial resources of the company. This degree will help skill you in banking, money management, financial advisory, and so on.
MBA in Finance is one of the highest paying specializations. An MBA in Finance will give you specialized knowledge about expansion, mergers as well as global financing. These skills will certainly accelerate the rate of success of the company you work for.
The job opportunities after MBA in Finance are:
Companies such as Goldman Sachs, Morgan Stanley, Merrill Lynch, TCS are keen to hire finance management professionals. Also, an MBA in Finance coupled with chartered accountancy (CA) degree can enable you to start and run your own business!
The average salary of an MBA in Finance in India is Rs. 7,19,000 per annum. It increases with experience.
Marketing revolves around understanding consumer demands and in turn creating a supply of services or products based on these demands. These services offered should be profitable for the company.
The job opportunities after MBA in Marketing include:
Some of the prime recruiters are of this field are Sony, Ranbaxy, Spencer’s Retail, KPMG, Tata Consultancy Services, Cognizant Technology, and many others.
The average salary of a graduate of MBA in Marketing in India is Rs. 752,000.
Apart from various opportunities MBA in Marketing lands you in highest paying jobs for MBA graduates.
Persons of this stream are a lot in demand these days. The Operations Manager is responsible for the management of labor, productivity, quality control as well as the safety measures established and set for the company.
Your work will be in the fields of supply chain management, inventory control, production planning logistics, etc.
The job opportunities after MBA in Operations Management include:
Some of the prime recruiters are of this field are Damco, Blue Dart, First Flight, and ONGC.
The average salary of an Operations Manager in India is Rs. 802,000 per annum.
Business Analysts conduct market analyses, analyzing both product lines, and the overall profitability of the business. A Business Analyst job description typically includes:
The average salary of an MBA in Business Analytics in India is Rs. 7,40,000 and of a Senior Analyst is close to Rs. 40,00 ,000 per annum.
1. Sales and Marketing Intern
Besides doing your job, this is one part-time work that you can easily take up. Since all MBA graduates are adept with the knowledge of business, markets, entrepreneurship, social media as well as communication, this is an easy task for them. You can work for the company after your normal working hours and make up some extra bucks. There are various intern positions available online. This job will include responsibilities such as social media marketing, product marketing, client interaction, etc.
You can earn anywhere between Rs 4,000 to Rs 10,000 through these internships.
2. Online MBA Tutor
There are various MBA entrance exams such as the CAT and other university-level entrances that require proper preparation. Since you would already be an MBA graduate, many students would be willing to take guidance from you. You can teach them online, give them test papers, and solve answers and queries of theirs. You can either enroll yourself in an established MBA coaching center or work as a freelancer. Teach amongst your connections and maximize reach.
You can also become an online tutor through Chegg. You can enroll as a subject matter expert by completing a few steps on their website. All you need to do is this:
And you’re all set to be a subject expert. You can post answers to questions at your own discretion and get paid for each successful answer. You will be paid according to your level of the subject. A subject expert can earn anywhere between Rs 7,000 to Rs 20,000 per month.
Freelancing is one of the most convenient jobs that one could do. There is no boss and neither are you an employee of a company. An MBA graduate knows how to capitalize on himself and build clients. Your own client will come to you for their work and you can do it for them in the given time. Then, you can hop on to another client. It is one of the best ways to make money online in India. You can freelance as a financial advisor, data entry operator, salesperson, and so on.
You need to be good with whatever you are offering so that your clients keep coming back to you. A lot of companies prefer working with freelancers since they do not need a permanent employee. Freelancing can be done in areas such as marketing, writing, content creation, etc
A freelancer can earn anywhere between Rs 5,000 to Rs 20,000.
Bloggers are the new trend. If you think there are a lot of ideas circulating in your head that people would like to read/know about then this is your thing. These ideas should be unique and interesting so that there are a good number of consumers. As an MBA graduate, you can educate people about markets, economics, business strategies, etc through your blog. Not only this but if you have other talents such as painting, baking, fashion, etc you can always create a blog on them too!
Blogging is a difficult job since it takes time to build an audience but once you make the mark, there’s no turning back. It is a means that provides a lot of money.
MBA has often been termed as the shortcut to success that offers high paying and lucrative career options but you need to do your research well before choosing your stream. Despite the MBA one of the top-notch courses, there is very little information on which is the highest paying MBA job. This article is here to help you!