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career opportunities after mba

Job Opportunities and Salary after MBA – Scope & Salary Explained

 

In this article, I will take you over the information on a salary after MBA, it’s future scope, and career opportunities after MBA in India.

If you are a student finishing your undergraduate studies or a newbie in the work-life, I’m sure you would have heard a common phrase from every senior around you, “Do an MBA, it’s the right choice”. But what is an MBA? What is the scope after MBA? What are the jobs after MBA?

 

What is an MBA?

MBA is a master’s degree in Business Administration. It is a specialization course that trains a student in the art of business organization and management. It is rightly said that an individual’s job opportunities are greatly increased after he/she pursues an MBA degree as employers and companies prefer to select MBA graduates from a pool of potential hires.

 

Scope after MBA

  1. An MBA degree helps beginners to kickstart their careers and enter higher posts in a company
  2. An MBA degree helps in cultivating skill sets that will be needed throughout your work life
  3. An MBA degree allows you to create a robust network with other MBA graduates, which can help you explore more job opportunities after MBA
  4. An MBA degree provides you with the knowledge to start your own company if you choose to
  5. Even people working currently can opt to do an MBA as it offers them the ability to accelerate in their careers

But an MBA is not just one course. Often people who decide on pursuing these studies are unaware of the different types of specialization it offers. So, I’ve compiled a list of six of the most popular and highly sought after courses to do under an MBA degree, highlighting the career opportunities after MBA in that course and the salary after MBA courses.

 

 

Courses and Jobs after MBA:

1. MBA in Marketing

jobs after mba

The world of marketing is exploding. Every brand wants skilled professionals to handle their marketing, and this course opens up a whole industry’s worth of job opportunities MBA.  The skillset provided in the course entails teaching students about consumer behavior, market research processes, marketing tools and techniques, digital and traditional advertising, and tips on how to boost sales. All these skills over you an edge over other students when applying for jobs in the marketing world, thus the scope after MBA in Marketing opens up many career opportunities.

The basic eligibility criteria here is just a bachelor’s degree from a recognized college/university. However, a bachelor’s in business administration can help you develop the basics before you go in for a master’s degree in marketing. Some of the most renowned universities that provide a great scope after MBA in Marketing are:

  1. Faculty of Management Studies (FMS), DU
  2. Indian Institute of Technology, Madras
  3. Christ University, Bangalore
  4. Symbiosis Institute of Management Studies, Pune
  5. ICFAI Business School, Hyderabad

 

What are the jobs after MBA in Marketing?

After successful completion, you can step forward to find jobs after MBA in the following areas:

  1. Business Marketing
  2. Advertising
  3. Online Marketing
  4. Brand Management
  5. Client-Relationship Management
  6. Competitive Marketing

Salary after MBA in Marketing:

It is said that the marketing gurus are paid the most. And it is right that they are since they are the ones who design and develop the brand name and its identity. However, the starting salary ranges from 5 lakhs per year. Initially, the companies test your skills of brand building and your ability to generate sales through marketing, and may thereafter boost your pay up to 30 to 45 lakhs per year.

salary after mba marketing

2. MBA in Banking and Finance

One of the most popular MBA courses for students who love math is a degree in banking and finance. With the increasing need for financial experts in the business world, this course offers up a wide variety of career opportunities after MBA. Financial and banking experts are expected to go over the financial management of an organization, involving the different stages of planning, implementing, and regulating the inflow and outflow of assets.

The basic eligibility criteria to pursue an MBA in banking and finance is having completed a bachelor’s degree in business, finance, accounting, or any other equivalent degree with 55% or higher. Some of the most renowned universities that provide a great scope after MBA Banking and Finance are:

  1. Symbiosis School of Banking and Finance, Pune
  2. Chitkara University, Patiala
  3. MIT World Peace University, Pune
  4. Ganpat University, Mehsana
  5. Alliance University, Bangalore

 

What are the jobs after MBA in Banking and Finance?

After successful completion, you can step forward to find jobs after MBA in the following areas:

  1. Corporate Banking
  2. Corporate Finances
  3. Asset Management
  4. Sales
  5. Trading
  6. Credit Risk Management

Salary after MBA in Banking and Finance

Jobs after MBA graduates in Banking and Finance offer a starting salary of 10 to 15 lakhs per year. Though these big figures are reserved for the graduates of the top tier schools in the country, even an MBA from other schools can start you off with a good 4 to 5 lakh per year package. Financial Experts are a very important unit in an organization and thus a job here becomes one of the best career opportunities after MBA for people who have a knack for maths and budgeting.

 

3. MBA in Business and Data Analytics:

job opportunities after mba

Data is the currency of the Information Age. Job opportunities after MBA are opening up for skilled ‘data scientists’, who can mine through countless, broken up data, and sort them into meaningful areas for the company to act upon. This is a new course that offers immense scope after MBA as the course teaches you how to properly use data analytics tools to sift through various data points and assign meaning to them in the form of trends, insights, etc.

The basic eligibility criteria to pursue an MBA in Data Analytics is having completed a bachelor’s degree in Arts, Science or Commerce with at least 55% marks. To better yourself in this course, it is an added advantage if you are comfortable in advanced math and computer programming. This is a relatively new addition to the world of MBA and thus has fewer schools across India. Some of the most renowned universities that provide a great scope after MBA in Data Analytics are:

  1. IILM University, Gurgaon
  2. Symbiosis Centre for Information Technology (SCIT), Pune
  3. Centurian University of Technology and Management, Paralakhemundi
  4. SRM School of Management, Ramapuram

 

What are the jobs after MBA in Data Analytics?

After successful completion, you can step forward to find jobs after MBA in the following areas:

  1. Information Technology
  2. Financial Institutes
  3. Healthcare
  4. E-Commerce platforms

 

Salary after MBA in Business and Data Analytics

Jobs after MBA in Data Analytics offer a starting salary of 3 to 8 lakhs. However, the average salary per year of a ‘data scientist’ is 6 lakhs. As this course gets more popular and more and more businesses understand the importance of data trends, the starting salary will begin to rise. The top executives in the data analytics world even earn up to 30 to 55 lakhs per year. The scope after MBA in Data Analytics is high and it is rising every year.

 

4. MBA in Operation Management:

The smooth functioning of everyday workings is the primary focus of every business. But since the world of business is very chaotic, companies hire operations experts for the proper functioning of the company. And as more and more MNCs are coming, there is a great scope of MBA in India, which will promote many more career opportunities after MBA in Operation Management. The Operation Manager’s role involves managing product quality, building and maintaining customer relations, inventory and supply management, and boosting productivity.

The basic eligibility criteria here are low as most of the material will be taught during the course. So, anyone with a bachelor’s degree in any stream, with a 55% aggregate score, can apply. Some of the most renowned universities that provide a great scope after MBA in Operation Management are:

  1. Institute of Management Studies, Dehradun
  2. Symbiosis Institute of Business Management, Pune
  3. ICFAI Business School, Hyderabad
  4. Anna University, Chennai

 

What are the jobs after MBA in Operation Management?

After successful completion, you can step forward to find jobs after MBA in the following areas:

  1. Management Consulting Firms
  2. Retail Management
  3. Information Technology Companies
  4. Healthcare Management
  5. Transport and Logistics

Salary after MBA in Operation Management

Jobs after MBA in Operation Management offer a starting salary anywhere between 4 to 5 lakhs per year. Though that will seem lesser than the scope after MBA offers elsewhere, as you climb the corporate ladder, this salary improves and you can earn upwards of 40 lakhs every year. As more and more companies are trying to streamline their operations, the scope of MBA in India, especially in Operation Management, has guaranteed benefits in the long run.

Become a Subject Matter Expert

5. MBA in Human Resource Management:

Human Resource Management is a rising career opportunity after MBA. The scope after MBA in India for HR exploded in the early 2000s and is continuing to rise. More and more companies are trying to better their HR Team and are looking for experienced professionals who can best manage the talent of the organization.

The basic eligibility criteria for enrolling in this course are at a minimum, and everyone with a bachelor’s degree from any stream can join, provided they have 55% and above. However, as it’s a communication activity, there is more scope after MBA for students with a background in mass communication. Some of the most renowned universities that provide a great scope after MBA in HR Management are:

  1. Indian Institute of Management, Bangalore
  2. Management Development Institute, Gurugram
  3. FMS, Delhi University
  4. Institute of Management Technology, Ghaziabad

What are the jobs after MBA in HR Management?

After successful completion, you can step forward to find jobs after MBA in the following areas:

  1. Information Technology Companies
  2. Law Firms
  3. Advertising Agencies
  4. Retail Management
  5. Media Houses

Salary after MBA in HR Management

Jobs after MBA in HR Management offer starting salaries of 4 to 6 lakhs per year. However, this is at the beginning, when you enter the HR Team as a member. However, as you reach your way to becoming the HR Head of an organization, you may earn up to 40 lakhs per year.

 

6. MBA in Entrepreneurship

Entrepreneurship refers to the study of developing and managing a business in order to make it profitable. The scope after MBA is rising as more and more individuals are understanding the promise of starting a new business. And with the recent announcement of the ‘Atmanirbhar Bharat’ (Self-Reliant India), MBA future scope in India of entrepreneurship is only going to explode.  The curriculum of the course enables students to better understand the necessary resources in order to start and manage a business and to squeeze out profits in order to be sustainable.

The eligibility criteria for entering the entrepreneurship program is a bachelor’s degree in any stream with at least 50% marks. It requires no prior experience and just tries to enable innovation and excitement in the minds of the students to try to make a change in the world, through business projects. Some of the most renowned universities that provide a great scope after MBA in Entrepreneurship are:

  1. Amity Business School, Noida
  2. Symbiosis Institute of Management Study (SIMS), Pune
  3. FMS, University of Delhi
  4. Christ University, Bangalore
  5. ICFAI Business School, Hyderabad

 

What are the jobs after MBA in Entrepreneurship?

People tend to think that the scope after MBA in Entrepreneurship only restricts them to start their own business, and not look for employment in other companies. This is wrong. The degree in entrepreneurship enables you to develop skill sets that help you understand the workings of the business world, which come in handy in so many other areas:

  1. Automobile
  2. Information Technology
  3. Small and Medium Business Management
  4. Insurance
  5. Sales and Marketing

 

Salary after MBA in Entrepreneurship

This depends on the path you choose. If you decide to start your own business, you are the top boss. So initially, you will be giving salaries instead of taking them. But over the time, once your business is sustainable, you start raking in the profits.

If you decide to join a company, then you will be offered a starting salary according to the above areas that you choose to apply for. Thus, you enter the corporate hierarchy with the salary each area has to offer, but you might receive faster growth opportunities.

 

Conclusion

As you can see, there is a great scope of MBA in India. Companies are offering many career opportunities after MBA to people who hone the skills taught to them. All you have to do is research a little to find out which is the course you want to do, which are the skill sets you think the best match you, and thereafter reap the benefits of being a Master of Business Administration!