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MBA Salary in India: Specialization-wise Salary, Freshers Salary, Average & Highest Package

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Mayank Mishra

Updated on 08th November, 2024 , 6 min read

 

MBA Salary in India: A Comprehensive Overview

MBA salary in India ranges from INR 7,00,000 to INR 15,00,000 per year, depending on factors like specialization, experience, and the institution attended. Graduates from top MBA colleges such as the Indian Institutes of Management (IIMs) and other prestigious institutions tend to receive the highest compensation packages. One of the highest paying MBA specializations worldwide is thought to be MBA in finance. In India, an average MBA in finance salary can reach INR 21 LPA with the right skills and experience. 

Read more - MBA program

The average salary reported for IIM Ahmedabad was INR 35.50 LPA, while the highest salary for the same year was INR 1.15 Crore. In India, an MBA typically pays between INR 6.30 LPA and 11.20 LPA. Delhi, Mumbai, Bangalore, Gurgaon, and other Indian cities rank among the top paying cities for MBAs.

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Jobs After MBA and Salary

In India, an MBA graduate's pay varies greatly depending on a number of factors, including industry, work experience, specialization, and the prestigious university where the degree was earned. Let's have a look at the below given table -

Role/JobAverage Salary (Per Annum)
Management Consultant15 lakhs - 35 lakhs
Investment Banker12 lakhs - 30 lakhs (excluding bonuses)
Product Manager12 lakhs - 25 lakhs
Marketing Manager10 lakhs - 20 lakhs
HR Manager8 lakhs - 18 lakhs
Operations Manager10 lakhs - 20 lakhs
Financial Analyst8 lakhs - 15 lakhs
Supply Chain Manager8 lakhs - 18 lakhs

Also read - Online MBA Course: Eligibility, Fees, Admission, Colleges, Last Date

MBA Starting Salary in India

MBA salary in India are influenced by a number of variables, including job profiles, colleges, specializations, and salaries. In India, an MBA candidate should anticipate a starting salary of between INR 4.50 LPA and 9 LPA. A placement compensation package ranging from INR 15 LPA to INR 40 LPA is typically offered by some of the best and highest ranked MBA colleges in India. The table below lists the top MBA colleges in India along with their starting salaries for MBAs:

College NameAverage Annual Salary (INR)
IIFT Delhi25.16 L
SPJIMR Mumbai32.06 L
NIT Trichy16.50 L
VIT University, Vellore8.19 L
Jamia Millia Islamia University, New Delhi13 L
XLRI Jamshedpur30.73 L
Chandigarh University, Chandigarh9.54 L
Symbiosis Institute of Business Management, Pune23.06 L
NMIMS Mumbai23.06 L
LBSIM New Delhi11.30 L
BIMTECH Greater Noida9.38 L
Women University, Hyderabad8.60 L

MBA Salary in India: Specialization-Wise

The MBA program offers over 15 different sub-specializations. As previously noted, the pay for MBAs with various specializations frequently varies. One of the key variables in determining an individual's MBA salary is their area of specialization, which will determine the kind of job and sectors. In India, the most sought-after MBA specializations are HRM, Finance, and Marketing. The MBA specializations in India that pay the highest are shown in the following table -

MBA SpecializationAverage Annual Salary (INR)
MBA Finance18 -25 L
MBA Human Resource Management8-15 L
MBA Information Technology8-16 L
MBA Logistics Management8-15 L
MBA Marketing Management8-18 L

MBA Salary in India: Experience Wise

The experience-wise MBA Salary is mentioned in the tabular format below:-

Years of ExperienceSalary Range
0-3 YearsINR 8 lakhs to INR 15 lakhs
3-7 YearsINR 15 lakhs to INR 30 lakhs
7-15 YearsINR 30 lakhs to INR 50 lakhs
15+ YearsINR 50 lakhs and above

All about MBA: 

IIM MBA Salary in India 

IIMs always rank among the top MBA universities globally due to their quality of education and technology-driven training. Here's the list of the top IIMs and their average MBA Salary in India -

IIMsMBA Highest Package (INR)
IIM Ahmedabad 75 L
IIM Bangalore 32.10 L
IIM Calcutta 42.50 L
IIM Kozhikode 61.5 L
IIM Indore 70 L
IIM Lucknow 61.59 L
IIM Raipur 42.15 L
IIM Tiruchirappalli 34 L
IIM Udaipur 35.96 L
IIM Ranchi 67 L
IIM Rohtak 32 L
IIM Kashipur 28.82 L
IIM Nagpur 31.54 L
IIM Sambalpur 41 L
IIM Amritsar 25.21 L
IIM Sirmaur 26.5 L
IIM Bodh Gaya 30.50 L
IIM Visakhapatnam 31.60 L
IIM Jammu 24.50 L

IIT MBA Salary in India

Few Indian Institute of Technology (IIT) colleges provide MBA programs. High and profitable job placement opportunities are the outcome of earning an MBA from one of India's top IIT colleges. During their placement drive, IIT colleges provide MBA students with Equator job offers, enabling them to secure high MBA salaries.

The top IIT colleges with the highest MBA salaries are the Shailesh J. Mehta School of Management at IIT Bombay and the Department of Management Studies at IIT Delhi. This table illustrates the average yearly salary that IITs offer -

College NameAverage Annual Salary (INR)
IIT Bombay 22.7 L
IIT Delhi 18.5 L
IIT Kharagpur19.36 L
IIT Madras 21.48 L
IIT Kanpur 28.7 L
IIT Roorkee 16.8 L
IIT Dhanbad 10.02 L

Starting MBA Salary: Types of MBA

Types of MBA

Salary

Regular MBA

4 L - 32 L

Distance MBA

6 L - 8 L

Online MBA

4 L - 6 L

Executive MBA

12 L - 40 L

Highest MBA Salary In India: Top Colleges

Name of the Institutes

Highest MBA Salary in India

IMI Delhi

INR 20.75 LPA

NMIMS Mumbai

INR 30.60 LPA

IIFT Delhi

INR 78 LPA

IIM Kozhikode

INR 30.60 LPA

SPJIMR Mumbai

INR 63 LPA

IIM Ahmedabad

INR 72 LPA

XLRI Jamshedpur

INR 43 LPA

IIM Bangalore

INR 65 LPA

MBA in Finance Salary

A finance-focused MBA specialization covers topics like international finance, money market & banks, Indian capital, management accounting & control, etc. Although it's one of the hardest MBA specializations, MBA Finance offers the highest MBA salary package along with some of the most prestigious job options. The following table presents the average salary for an MBA in Finance across a range of job profiles: 

Job PositionsAverage Annual Salary (INR)
Corporate Controllers20-35 L
Accounting Manager10-18 L
Credit Managers8-15 L
Financial Analyst8-17 L

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Factors Affecting MBA Salary in India

Going for an MBA course is a wise decision. As a matter of fact, MBA is a lucrative course with a great future. If you have made up you mind to go for the MBA course, you must these factors in mind: 

1.Reputation and Recognition of your Business School

This is one of the most significant factors that affects placement and career growth as well. If you are passing out of TIER 1 MBA college, you will get a good package in most of the cases. Tiers 2, 3, 4 and 5 MBA school offer less placement package in comparison to TIER 1 college. You must look for TIER 1 MBA college as it has great infrastructure, exposure, faculty and track record of placement. 

2. Work experience

The amount of years you had work experience prior to enrolling in a degree program like this can also affect your pay. A greater wage may be awarded to those who have worked before after completing their post-graduation training. Additionally, throughout the admissions process, certain B-schools give advantage to applicants who have work experience. It could aid in your admission to the B-school of your choosing. In addition, a lot of employers favor employing applicants who have worked before because it makes it simpler to train them in a new setting.

3. Demand for the skills and specialization

Because fewer candidates possess a specialty like data analytics or bioscience, those with it may receive a higher wage. Also, due of the advantages you offer, you can be paid more if you have any special talents, such as digital technology. Employers also favor applicants who possess the ability to solve problems, analyze critically, and resolve conflicts because these abilities aid in achieving daily objectives.

Does an MBA increase your salary?

Generally speaking, earning an MBA will result in a pay raise. However, other elements, like the kind of B-School you went to or your prior work experience, could also have an impact on your pay. An MBA graduate from a Tier 1 university, for instance, is probably going to see a bigger pay boost than a post-graduate from a Tier 2 or Tier 3 university. 
Additionally, the pay varies according on the kind of MBA program you select. A larger pay rise is typically offered by full-time MBA programs. Your area of expertise could enable you to demand a higher pay. You may usually anticipate a greater raise when you specialize in a field with high demand.

Is an MBA worth it in India?

India's burgeoning entrepreneurial culture and quick technological adoption make an MBA degree worthwhile. The degree program equips students with the managerial, technical, and leadership abilities needed to successfully manage and run a firm. The nation's MBA programs guarantee increased earning potential, a solid education in fundamental business concepts, and the opportunity to build a professional network. Building a successful career is aided by this. 
An MBA is frequently required for many high-level executive roles, such as chief operating officer (COO) and chief financial officer (CFO). Getting an MBA can be your best bet if you want to grow in your profession and go toward a C-level executive position.

Also read - Is MBA in HR worth it?

Frequently Asked Questions

What is MBA salary per month?

Ans. The MBA Salary per month varies from INR 45, 000 - INR 50, 000.

What is MBA starting salary?

Ans. MBA salary in India ranges from INR 7,00,000 to INR 12,00,000 per year for various MBA programmes. The average MBA salary in India in 2021, according to payscale, was INR 7,71,801. MBA is the one of the most well-paid postgraduate courses. Also Read: Best MBA Specializations with high paying jobs in India.

Who earn more CA or MBA?

Ans. An MBA pays substantially less on average than a CA does. An average CA makes about INR 8.06 LPA, but an average MBA graduate makes between INR 4 and 5 LPA.

Which MBA pays high salary?

Ans. One of the highest-paying MBA specialisations is finance. Everything revolves around finance management-related subjects such as resource management, pricing, investment, asset management, and financial planning.

Does doing an MBA assure a high salary?

Ans. MBA is one of the most popular courses worldwide and one reason for that is the high salary packages that the degree offers. So yes, an MBA degree gives you a high salary package, provided that you do it from a good college with good placement services.

What is the salary after completing an MBA?

The starting salary after an MBA degree might be between INR 8-15 lac per annum. The salary also varies across the different MBA specialisations.

Which MBA specialization gives the highest salary?

Ans. MBA in General Management, Operations, Finance, Business Analytics, and Marketing are among the highest paying MBA specialisations.

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