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Jagpreet
24 April, 2024
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Many people who get a Master of Business Administration (MBA) go on to look for jobs that allow them to advance in their professions while also paying well. Many graduates aim to increase their salaries after devoting so much time, energy, and money to their MBA degree. Consequently, several post-MBA employment choices stand out as quite rewarding. This type of work usually encompasses various sectors, from banking and consulting to healthcare and technology. The best-paying jobs, however, typically call for a unique blend of expertise, years of experience, and the capacity to lead. Furthermore, one’s earning potential can be significantly affected by variables, including geography, industry demand, and personal performance. This article will look at a few of the best career paths for MBA graduates, discussing each in detail, including salary expectations, typical duties, and opportunities for growth in the field.
It stands for “Master of Business Administration,” which can be shortened to MBA. A master’s degree in business administration (MBA) opens many doors professionally. Sales and marketing, accounting, human resources, information technology and systems, global business, retail, supply chain management, and many more areas of expertise are available.
Ensuring the project runs smoothly is the responsibility of the project manager. Their responsibilities encompass overseeing the project’s execution and making sure it stays within the allocated budget. This can only be achieved if they keep an eye on the project’s resources and finances and make adjustments as needed to keep things operating smoothly. The salary range for a Project Manager falls between INR 4.2 lakh and INR 30 lakh.
Working as a business analyst is a typical career path for those with an MBA. Evaluating business processes is integral to a business analyst’s job description. Foreseeing needs is necessary, pinpointing improvement areas and then executing solutions promptly. Keeping up with the most recent procedures and automating and modernising processes are crucial. It is required to hold meetings throughout the process to exchange ideas. Among the duties are the analysis of requirements, the documenting of processes, and the communication of outcomes. A Business Analyst draws a salary from somewhere INR 2.9 lakh and goes to around INR 16.8 lakh.
The state of a company’s finances determines its next steps. Financial reports are useful tools for assessing a company’s financial health. Managerial staff are tasked with interpreting these findings and suggesting next steps. A financial manager’s primary duties include developing investment plans, formulating financial strategies, comparing the company’s actual performance to the business plans, and monitoring costs, prices, variable contributions, and sales outcomes. Maintaining financial health is aided by all these duties. The salary of a financial manager ranges from INR 3.5 lakh to 32 lakh.
The profession of an investment banker may seem strange at first, but it offers excellent career opportunities and substantial monthly compensation. An investment banker’s job is to help businesses and government organisations earn money from investors by providing strategic guidance.
An investment banker position requires a master’s degree in business administration (MBA) with a concentration in finance. Some investment businesses, such as commodities, securities, etc., may provide you with work prospects if you choose finance as your specialty.
The average yearly income of an investment banker is somewhere around a minimum of INR 7 lakh to INR 20 lakh according to Glassdoor in 2024. However, this figure is highly dependent on factors such as geography, firm size, and experience, making it difficult to forecast.
Although this position may be unfamiliar to some, there are currently a plethora of applicants seeking employment with several IT corps. If this position were to be filled, you would be responsible for implementing strategies to boost the efficiency of your company’s IT infrastructure.
First, figure out what the IT department needs and give them practical tools or ideas. By doing so, we can guarantee that the business process will run smoothly while efficiently using our IT resources. It’s important to note that this position is not suitable for all MBA students. The organisations advertising this role are primarily interested in candidates with a strong background in information technology management, as this is a key requirement for the role. In addition to other benefits, an IT director in India with over a decade of experience can earn an annual compensation of INR 14 lakh to INR 99 lakh annually.
Going into your Master of Business Administration programme, you may already know that marketing is dynamic. As implied by the title, the duties of a marketing manager include reviewing and enhancing your company’s marketing initiatives.
Your chances of landing a job as a marketing manager increase if you focus on marketing as your area of study. Developing, designing, and implementing successful marketing strategies and evaluating their results may be part of your daily responsibilities. Though not strictly necessary, a strong applicant should have the following abilities: the capacity to build extensive networks, strong communication skills, and a knack for efficiently setting and achieving objectives.
When it comes to the corporate world, marketing managers are in high demand. Therefore, even fresh graduates can expect to earn a respectable average income of INR 12.2 lakhs per annum.
As the healthcare industry continues to expand, skilled managers are needed to keep things operating smoothly. Healthcare administrators should make it their mission to ensure that their organisations adhere to government-enacted healthcare reforms. They are also responsible for overseeing doctors, secretaries, technicians, etc.
Typically, they oversee the entire facility’s upkeep at smaller facilities, but in larger hospitals, they may be responsible for managing a specific department, such as finance or patient care services.
A master’s degree in business administration with a concentration in health services management is required for consideration for this position. A master’s degree in business administration with a concentration in finance can help you land this high-paying position, but if your background is in healthcare administration.
If predictions pan out, growth of 17% is possible between 2014 and 2024. A health services manager can expect an annual income of about INR 0.6 lakh to INR 23.6 lakh.
Ultimately, an MBA can lead to many lucrative job prospects in many sectors. Salary ranges after an MBA can be variable based on geography, years of experience, and firm size, but a few jobs always pay well. The services of management consultants, who advise companies on long-term strategy, generally come with hefty salary packages. Due to their essential responsibilities in driving financial transactions and investments, finance professionals enjoy high salaries and incentives, especially investment bankers and private equity partners. Because of their critical responsibilities in driving innovation and digital transformation, technology executives like Chief Technology Officers (CTOs) and Product Managers command substantial salaries and are in great demand. Also, corporate regular wages differ from what entrepreneurs can earn when they start and grow their businesses. The best-paying jobs after getting an MBA reward not just knowledge and experience but also creativity, leadership, and the ability to think strategically to succeed in the ever-changing corporate world of today.
