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Jagpreet
25 October, 2024
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MBA remains a golden ticket to a productive career in India, even in 2024. It opens doors to numerous prestigious roles in various industries with turning-head salaries. Whether you are a fresh graduate or a seasoned professional, an MBA can significantly boost your earning potential.
According to NIRF (2024), MBA graduates in India usually earn between INR 6 and INR 23 LPA. However, B-schools, experience, and skills are a few factors that significantly impact this range. Meanwhile, if we talk about experienced professionals with more than 15 years of experience, the salary goes beyond INR 20 LPA. The demand remains high as the top industries, such as finance, consulting, and tech, continue seeking MBA graduates.
Moreover, the salary differs widely depending on your area of expertise, experience, and college. Also, the MBA programme offers you a variety of specialisations. Each specialisation enables you to master a specific field, allowing you to choose your career. The average MBA salary range varies depending on the industry and career prospects. We shall discover the MBA salary in India in 2024 for freshers and experienced professionals with this blog. We shall also learn about the average wages of the top industries and the highest. So, let’s get started!
An MBA is one of the most sought-after 2-year degree programmes. It’s popular among individuals looking to build their careers in business management, finance, marketing, or analytics. Focused on equipping you with soft skills, it also ensures you master essential hard skills. It usually lasts 1-2 years, depending on the type of your chosen MBA.
In 2024, distance, online, and hybrid MBAs will gain more recognition worldwide. With the increase in demand for skilled professionals for managerial roles, MBA grads will be in high demand in 2024. An MBA offers a range of career opportunities with decent salary ranges in India. Keep reading to learn about MBA salaries in India in 2024.
In 2024, MBA salary prospects in India are on the rise. Do you know that fresh MBA graduates from top Indian institutes such as IIM and FMS can earn between INR 10 and INR 15 LPA? Experienced MBA professionals with over 12-15 years of experience can secure jobs with an INR 20-30 LPA salary range. This is more specific to high-demand sectors like finance, marketing, and tech.
Top recruiters like McKinsey, Deloitte, and Amazon continue to offer competitive packages to attract the best MBA talent. In short, whether you are fresher or experienced, the MBA programme provides you with an emerging career. Let’s learn about top industries offering decent pay scales to different MBA grads.
Must Read: Top 10 Highest Paying MBA Specialisations in 2024: Select The Best One
Depending on the industries and specialisations, there are numerous career prospects after an MBA. The average pay scale varies for each job profile and experience. Here are the top sectors that welcome MBA candidates with higher salary ranges.
Consulting is the most coveted industry for MBA grads. These firms actively look for people with strategic thinking and problem-solving skills. They have provisions for offering attractive salaries to their employees. Leadership, adaptability, and communication are appreciated in this industry. Moreover, Boston Consulting Group (BCG), Deloitte, PwC, and McKinsey & Co are the top recruiters in this field. You can get an average MBA salary of around INR 12 LPA in consulting firms.
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| Management Consultant | 6.7 LPA | 42 LPA |
| Strategy Consultant | 7 LPA | 45 LPA |
| IT Consultant | 5.3 LPA | 28 LPA |
| Operations Consultant | 2 LPA | 16 LPA |
Source: Ambition Box
Most MBA graduates seek employment in finance and investment banking. These industries offer you more significant earning potential…
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| Investment Banker | 2 LPA | 50 LPA |
| Financial Analyst | 2.1 LPA | 12.7 LPA |
| Portfolio Manager | 3.4 LPA | 18.1 LPA |
| Risk Manager | 4.5 LPA | 25.2 LPA |
Source: Ambition Box
Nowadays, the digital marketing sector is among the emerging industries worldwide. With its broader scope, it values the potential MBA graduates. MBA facilitates a specialisation in digital marketing. It equips you with copywriting, SEO, SEM, and data analysis skills. These skills are the foundation for the entire digital market. With an MBA in digital marketing, you can secure a job in any of these esteemed companies, namely:
Amazon
Procter & Gamble
Hindustan Unilever
Also, you may get an average MBA salary of INR 4.9 LPA in this field.
Also Read: Top 10 Career Options After MBA in Digital Marketing: 2024
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| Digital Marketing Manager | 3 LPA | 19 LPA |
| Brand Manager | 3.5 LPA | 33 LPA |
| SEO/SEM Specialist | 1.8 LPA | 11.6 LPA |
| Social Media Manager | 1.2 LPA | 10 LPA |
Source: Ambition Box
The speed of technological advancement is unbeatable. No industry is growing as fast as technology. Whether it’s finance, healthcare, manufacturing, or IT, the need for technology is equally in demand. But you might wonder how MBA graduates can enter into technology. Well, that’s the beauty of an MBA programme. It offers you specialisations in every field you can think of. Even in technology, you can opt for an MBA in IT, data science, machine learning, or AI. These are majestic industries that are popular around the world.
Microsoft, Google, Amazon, Apple, and Tata Consultancy Services (TCS) are some of the great recruiters worldwide. The average MBA salary in the tech sector is INR 16.5 LPA.
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| IT Project Manager | 5.5 LPA | 30.9 LPA |
| Data Scientist | 3.8 LPA | 28 LPA |
| Operations Manager | 3 LPA | 21.6 LPA |
| Product Manager | 5.6 LPA | 38 LPA |
Source: Ambition Box
The retailing sector offers numerous job opportunities to MBA graduates. As it is becoming a data-driven industry, MBA individuals remain in demand in retailing. The retail sector hires MBAs for supply chain and customer experience on a large scale. Therefore, it also ensures that their earning needs are satisfied. With an average MBA salary of INR 5.8 LPA, you can get into any of these companies:
Amazon
Walmart
Reliance Retail
Flipkart
Aditya Birla Group
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| Retail Manager | 2 LPA | 14.3 LPA |
| Supply Chain Manager | 3.1 LPA | 30 LPA |
| Category Manager | 5.1 LPA | 32 LPA |
| Merchandising Manager | 4.1 LPA | 24 LPA |
Source: Ambition Box
Healthcare is a crucial and evergreen industry. Along with highly skilled doctors, it also requires high-tech equipment to provide the best experiences to its customers. Not every piece of equipment is handled by doctors. Various services and operations require skilled professionals as well. Overseeing the insurance department, finance, and hospital management are some underrated tasks.
If these positions are not fulfilled properly, the organisation may be jeopardised. There are various positions for MBA professionals in healthcare who work behind the scenes. Budgeting, administration, leadership, and ethics are several obligatory skills. Apollo Hospitals, Fortis Healthcare, Cipla, and Johnson & Johnson are some popular healthcare organisations. You can earn an average MBA salary of INR 6.5 LPA as an MBA individual.
| Career Prospects | Minimum Salary (INR) | Highest Salary (INR) |
| Healthcare Manager | 1.8 LPA | 7 LPA |
| Hospital Administrator | 1.1 LPA | 14.3 LPA |
| Pharmaceutical Product Manager | 4.5 LPA | 32 LPA |
| Healthcare Finance Manager | 5.5 LPA | 33 LPA |
Source: Ambition Box
Countless companies are hiring MBA individuals globally. Most top-notch companies are multinational and have branches in different countries. Therefore, the chances of getting hired after an MBA are high in most countries. Also, each industry welcomes MBA graduates based on their expertise.
For instance, you can quickly enter the AI industry with an MBA in data science. With an MBA specialisation in finance, you can land a job in the finance and investment industry. The following are the top recruiting companies that hire MBA graduates. Also, discover an estimated salary that they offer them.
| Top Recruiters | Estimated Salary Range (INR) |
| Microsoft | 4.8 – 70 LPA |
| Accenture | 1.9 – 25 LPA |
| Morgan Stanley | 3.8 – 65 LPA |
| Goldman Sachs | 1 – 39.4 LPA |
| Boston Consulting Group (BCG) | 5 – 70 LPA |
| Bain & Company | 7 – 78 LPA |
| Tata Consultancy Services (TCS) | 2.8 – 31.3 LPA |
| HDFC Bank | 1.1 – 26 LPA |
| JP Morgan Chase & Co. | 2.6 – 35.6 LPA |
Source: Ambition Box
Offers diverse specialisations in numerous fields.
Opens doors to leadership roles and boosts career opportunities.
Equips you with strategic thinking and problem-solving skills.
Offers you higher earning potential with fascinating salary packages.
Allows you to expand your professional network.
Provides specialised knowledge in finance, operations, marketing, and more.
Enhances adaptability to the ever-evolving business world.
Offers you the latest insights on current marketing trends.
Equips you with entrepreneurial skills to prepare you for your start-up.
Increases global career opportunities with multinational companies.
Helps you develop soft skills like communication, teamwork, and leadership.
MBA Salary in India in 2024 is a great deal. You can earn an average of INR 10–12 LPA as a fresher. However, if you are a pro, INR 20–30 LPA might be waiting for you. But is it just about numbers? Surely not! It’s about the doors an MBA programme opens for you in various industries. You know what? Picture this! Your friend with an MBA is casually ordering coffee worth INR 300. And you are counting your coins to buy an INR 30 cutting chai! You would surely not want this. You must bring your A-game, too, to the table. This game might be your MBA in your desired specialisation. So, what are you waiting for? Find a top MBA college, get your degree, secure a job, and enjoy your coffee, which is worth even INR 500!
