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MBA in Marketing is a management program that focuses on the role and importance of marketing in the business world. It aims at training talented and passionate students to face the diverse challenges of the Indian and Global markets. Also, before choosing the specialisation, one might wonder is PGDM and MBA same? Students get the option of choosing a specialisation in both. This program gives students a solid foundation in marketing concepts and skills, thus honing their decision-making and problem-solving skills. Moreover, students pursuing an MBA in Marketing have the option to explore a variety of career paths, each one being unique and interesting at its own level.
MBA in Marketing Salary In India
The average salary for a Marketing MBA professional in India is 7.81 Lakh as per Payscale.
With experience, this can will go even higher as the person gains skills on the job. Clearly an MBA in Marketing is a very lucrative and secure degree to pursue in terms of career prospects.
Most Sought After Jobs After an MBA in Marketing
There are a plethora of career options available after an MBA in Marketing. But, let’s explore the most popular 5 career choices made post-MBA in marketing:
Building and Promoting a brand holds the utmost importance in the field of marketing. It is one of the most creative, experiential and dynamic work profile that tends to keep you on your toes! A marketing professional as a brand manager is responsible for creating a positive identity for a specific product among the audience.
Your work would revolve around making long-term strategies, interpreting the market, deciding the price of the product and product development. You would also be responsible for activities like promotions, advertising, media engagement and other regulatory frameworks.
The starting salary package of a Brand Manager could be between 6-8 lakh per annum which would easily go above 10-12 lakh with adequate experience and skills.
Sales is an age-old technique of selling and promoting a product. This work profile is generally associated with a high-paced work schedule, achieving targets, and gaining bonuses and incentives. Being a Sales manager, a marketing graduate has to be energetic with exceptionally good communicative skills to maintain a high-spirited sales team that brings ground-breaking results to the organisation.
You would be responsible for appointing distributors, setting salary goals & quotas, building a sales plan, analysing data, studying the competitors, deciding the targets and goals for the team. Moreover, maintaining relations with the stakeholders in the sales and distribution channel is also, a major role of a Sales Manager.
The starting salary package of a Sales Manager could be between 5-7 lakh per annum which would easily go above 8-10 lakh with adequate experience and skills.
Market Research Analyst
The success of both the marketing and sales team of an organisation depends upon how well they know the target market and audience. So, the responsibility of cumulating all data related to the market and its trends and the target audience falls upon the Market Research Analysts.
Students who opt for a career path towards Market Research after PGDM in Marketing, are responsible for assessing consumer choices in order to help organisations decide how to shape, advertise, and market their products and services. Such marketing professionals would also design surveys and research methodologies to gather information, do a lot of data crunching and help in planning and building marketing strategies. In short, the market research analyst is quite a responsible work profile as the term big data shape the way an organisation targets and communicates with its customers.
The starting salary package of a Market Research Analyst could be between 6-8 lakh per annum which would easily go above 15-20 lakh with adequate experience and skills.
With digitalisation embed in every corner of our lives, Digital Marketing as a career option has taken flight and became quite popular among the marketing students. In some ways, digital marketing does not go a long way from the traditional marketing techniques. It incorporates more roles and skills than marketing ever before, and it’s this flexible, ingenious nature of the business that makes it so captivating.
This field comprises tasks such as Search Engine Optimisation, Pay-Per-Click(PPC), Social Media Marketing, Web content writing, Email Marketing, Marketing Automation and so on that works for both, B2B and B2C.
The versatility in this field is also reflected in the roles that a marketing student can opt for, which are:
- SEO manager
- SEM/PPC expert
- Social media manager
- Content Writer
The starting salary package of a Digital Marketing Manager could be between 5-7 lakh per annum which would easily go above 12-14 lakh with adequate experience and skills.
Business Development Manager
Business Development is quite a creative role in an organisation, accompanied by challenging aspects. You would be responsible for creating new business opportunities, in addition to meeting the existing targets.
A marketing graduate as a Business Development Manager will be concerned with business growth and improvement, and developing relationships with clients, suppliers, customers and other partners. He would be required to think strategically, set aims and objectives in order to develop and improve the business. Moreover, he would have to carry out significant planning in order to execute operational changes.
The starting salary package of a Business Development Manager could be between 6-8 lakh per annum which would easily go above 10-12 lakh with adequate experience and skills.