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.
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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/Job | Average Salary (Per Annum) |
| Management Consultant | 15 lakhs - 35 lakhs |
| Investment Banker | 12 lakhs - 30 lakhs (excluding bonuses) |
| Product Manager | 12 lakhs - 25 lakhs |
| Marketing Manager | 10 lakhs - 20 lakhs |
| HR Manager | 8 lakhs - 18 lakhs |
| Operations Manager | 10 lakhs - 20 lakhs |
| Financial Analyst | 8 lakhs - 15 lakhs |
| Supply Chain Manager | 8 lakhs - 18 lakhs |
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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 Name | Average Annual Salary (INR) |
| IIFT Delhi | 25.16 L |
| SPJIMR Mumbai | 32.06 L |
| NIT Trichy | 16.50 L |
| VIT University, Vellore | 8.19 L |
| Jamia Millia Islamia University, New Delhi | 13 L |
| XLRI Jamshedpur | 30.73 L |
| Chandigarh University, Chandigarh | 9.54 L |
| Symbiosis Institute of Business Management, Pune | 23.06 L |
| NMIMS Mumbai | 23.06 L |
| LBSIM New Delhi | 11.30 L |
| BIMTECH Greater Noida | 9.38 L |
| Women University, Hyderabad | 8.60 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 Specialization | Average Annual Salary (INR) |
| MBA Finance | 18 -25 L |
| MBA Human Resource Management | 8-15 L |
| MBA Information Technology | 8-16 L |
| MBA Logistics Management | 8-15 L |
| MBA Marketing Management | 8-18 L |
MBA Salary in India: Experience Wise
The experience-wise MBA Salary is mentioned in the tabular format below:-
| Years of Experience | Salary Range |
| 0-3 Years | INR 8 lakhs to INR 15 lakhs |
| 3-7 Years | INR 15 lakhs to INR 30 lakhs |
| 7-15 Years | INR 30 lakhs to INR 50 lakhs |
| 15+ Years | INR 50 lakhs and above |
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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 -
| IIMs | MBA 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 Name | Average Annual Salary (INR) |
| IIT Bombay | 22.7 L |
| IIT Delhi | 18.5 L |
| IIT Kharagpur | 19.36 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 |
| 4 L - 32 L | |
| 6 L - 8 L | |
| 4 L - 6 L | |
| 12 L - 40 L |
Highest MBA Salary In India: Top Colleges
Name of the Institutes | Highest MBA Salary in India |
INR 20.75 LPA | |
INR 30.60 LPA | |
INR 78 LPA | |
INR 30.60 LPA | |
INR 63 LPA | |
INR 72 LPA | |
INR 43 LPA | |
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 Positions | Average Annual Salary (INR) |
| Corporate Controllers | 20-35 L |
| Accounting Manager | 10-18 L |
| Credit Managers | 8-15 L |
| Financial Analyst | 8-17 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.
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