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Around two decades ago, an MBA degree would ensure a hefty salary package since not many students were opting for a management degree. However, in today’s times, with every second student opting for an MBA Degree, competition has become fierce, and salaries have become highly competitive.
This article will focus on an MBA Graduate Salary in India. We will also talk about the highest paying MBA specialisations and what salary you can expect as an MBA fresher and experienced professional.
Factors Affecting MBA Salary in India
There are five primary factors affecting the average salary after MBA in India. These are:
- MBA specialisation – there are many specialisations to choose from, like Finance, Marketing, Operations Management, Human Resources, International Business, Human Resource Management, Event Management, Logistics, etc.
- Work Experience – relevant work experience can help you get a higher salary compared a non-related work experience
- Industry – certain industries pay better salaries. Hence, MBAs can expect higher salaries too
- Institute/ college from which a candidate has passed – the reputation of the institute or college you do the MBA from
- Designation – salary will also vary based on the designation that you are applying for
Of these, the MBA specialisation plays an important role in determining the MBA starting salary in India per month. Specialisations like Finance, Business Analytics, and Marketing tend to offer the highest-paying jobs after MBA. The minimum salary of an MBA in India is usually around ₹4 lakhs per annum and the highest MBA salary in India can go up to ₹32 lakhs per year based on the specialisation, experience, and industry.
Most Popular MBA Entrance Exams
CAT
- The Common Admission Test (CAT) is one of the known examinations accepted among top management universities, especially IIMs.
- It is a computer-based test and is generally divided into three sections: Verbal Ability and Reading Comprehension, Data Interpretation and Logical Reasoning, and Quantitative Ability.
- The examination has a negative marking scheme, with every incorrect answer -1 is deducted, and for every correct answer, 3 marks are added.
XAT
- Xavier Aptitude Test (XAT) is the management entrance test for MBA/PGDM, conducted by XLRI, Jamshedpur.
- The 100 Multiple Choice Questions (MCQs) on the XAT test are divided into three parts:
- Part 1: decision-making, verbal and logical reasoning, quantitative ability, and data interpretation,
- Part 2: Mock Keyboard testing, and Part 3: general knowledge and essay writing.
- Part 1 has 0.25 negative markings for incorrect answers except for Parts 2 & 3.
- Around, 1000 B-schools accept the XAT scores, in addition to XLRI.
MAT
- Management Aptitude test (MAT), as the name suggests, is an aptitude test regulated by the All India Management Association, and is conducted four times a year.
- The MAT exam is divided into five sections and has -0.25 for incorrect answers and +1 for correct answers.
CMAT
- Common Management Admission Test (CMAT) is a national-level examination conducted by the National Testing Agency (NAT), for admission to all management courses.
- CMAT test is divided into five parts with a total number of 100 questions.
- Each question carries 4 marks, and each incorrect answer results in -1
IIFT
- Indian Institute of Foreign Trade (IIFT) is the entrance examination for the prestigious MBA programs in India.
- IIFT scores are acceptable only for IIFT campuses, Delhi and Kolkata.
- IIFT exams has four sections in which for the first three sections -1 is deducted for wrong answers and 3 for correct answers.
- In the last section, -0.5 is for incorrect answers and 1.5 marks are added to correct answers.
SNAP
- Symbiosis National Aptitude Test (SNAP) is conducted for admission to Symbiosis Internation University.
- Earlier SNAP test was divided into four sections but for the year 2022, the current affairs section was removed hence resulting in only three sections.
- As per the revised scheme, 1 mark is allotted for every correct answer and 0.25 is deducted for incorrect answers.
TISSNET MBA
- Tata Institute of Social Science (TISS) conducts a national entry test, TISSNET, for its MBA courses.
- TISSNET exam is divided into three sections and doesn’t have any negative marking scheme.
IBSAT
- IBS Aptitude Test (IBSAT) is the examination conducted by ICFAI Foundation for Higher Education.
- IBSAT exam score is accepted by nine IFCAI Business schools.
- The test is divided into four sections with no negative marking.
NMAT
- NMIMS Management Aptitude Test (NMAT Exam) is conducted by the Graduate Management Admission Council (GMAC) for admission to management courses in top universities.
- NMAT test has three sections with no negative marking.
The Average Salary of MBA in India – Top institutions
Here is a quick list of average salary after MBA for some top institutes in India:
|
College Name |
Average Salary Package (INR) |
|
Faculty of Management Studies- University of Delhi |
₹21.1 Lakh |
|
Management Development Institute- Gurgaon |
₹19.17 Lakh |
|
Xavier School of Management (XLRI)- Jamshedpur |
₹20.1 Lakh |
|
S.P. Jain Institute of Management and Research- Mumbai |
₹22.1 Lakh |
|
Jamnalal Bajaj Institute of Management Studies- Mumbai |
₹18.91 Lakh |
|
Indian Institute of Foreign Trade- Delhi |
₹18.27 Lakh |
IIMs are known to offer the highest MBA salary in India to the right candidate.
Here is a quick look at the MBA packages in India received by IIM students:
|
Name of IIM |
Highest Domestic Annual CTC |
Average Domestic Annual CTC |
|
IIM Ahmedabad |
55.88 |
26.13 |
|
IIM Bangalore |
32.10 |
26.18 |
|
IIM Calcutta |
-- |
29 |
|
IIM Lucknow |
51 |
26 |
|
IIM Kozhikode |
46.88 |
22.50 |
|
IIM Indore |
41.50 |
23.60 |
|
IIM Shillong |
32.00 |
19.17 |
|
IIM Rohtak |
22.80 |
13.74 |
|
IIM Ranchi |
MBA – 22.37 MBA HR – 26.50 |
MBA – 15.11 MBA HR – 14.55 |
|
IIM Raipur |
28.12 |
15.20 |
|
IIM Tiruchirappalli |
25.00 |
14.96 |
|
IIM Kashipur |
45 |
13.82 |
|
IIM Udaipur |
40.00 |
13.84 |
|
IIM Nagpur |
19.20 |
13.12 |
|
IIM Visakhapatnam |
27 |
13.08 |
|
IIM Bodh Gaya |
20 |
11.20 |
|
IIM Amritsar |
40 |
12.61 |
|
IIM Sirmaur |
26 |
11.28 |
|
IIM Sambalpur |
18.92 |
11.61 |
|
IIM Jammu |
24.50 |
10.64 |
How Work Experience Impacts Salary After MBA?
Experienced MBA candidates will get offered better salaries than freshers. Here is how work experience can impact your salary after MBA:
|
Experience (in years) |
Average Salary (INR) |
|
1-4 years |
₹4 lakhs per annum+ |
|
5 years |
₹8 lakhs per annum |
|
10 years |
₹14 lakhs per annum |
Average MBA Salary Based on the Specialisation
1. MBA in Finance
The MBA in Finance provides in-depth knowledge of management roles in finance, such as financial products, stocks, and systems of money. Below are the few job positions with their average salary one can apply for after the completion of the course:
|
Job Position |
Average Salary (INR) |
|
Accounting Manager |
₹7 lakhs p.a. average |
|
Credit Manager |
₹5.8 lakhs p.a. average |
|
Financial Analyst |
₹4.1 lakhs p.a. average |
|
Corporate Controller |
₹12.2 lakhs p.a. average |
2. MBA in Human Resource Management
MBA in HR is greatly beneficial to those who have good communication skills.Since students can choose from a variety of courses after getting an MBA in HR, there are numerous opportunities after this degree. Below are the few job positions with their average salary one can apply for after the completion of the course
|
Job Position |
Average Salary (INR) |
|
Human Resources Manager |
₹7 lakhs p.a. average |
|
Senior Human Resource Consultant |
₹11.6 lakhs p.a. average |
|
HR Operations Manager |
₹8.7 lakhs p.a. average |
|
Employee Relations Manager |
₹7.3 lakhs p.a. average |
3. MBA in Information Technology
The main focus of the MBA in Information Technology course is to combine business strategies with existing concepts in project management, information security, and telecommunications. This course's applications are not limited to the IT industry., hence allowing students to choose any field as per their choice. Below are the few job positions with their average salary one can apply for after the completion of the course
|
Job Position |
Average Salary (INR) |
|
Project Manager |
₹12.44 lakhs p.a. average |
|
Business Development Manager |
₹5.98 lakhs p.a. average |
|
Marketing Manager |
₹6.9 lakhs p.a. average |
|
System Manager |
₹8.8 lakhs p.a. average |
4. MBA in Logistics Management
MBA in Logistics Management course is created to prepare qualified people to enter the field of industrial supply & chain management as managers in the future. Students receive training on how to handle issues like service level and quality management, customer requirements and supply side innovation, business value scope and scale, etc. Below are the few job positions with their average salary one can apply for after the completion of the course:
|
Job Position |
Average Salary (INR) |
|
Logistics Officer |
₹4.36 lakhs p.a. average |
|
Logistics Supervisor |
₹2.56 lakhs p.a. average |
|
Logistics Manager |
₹6.06 lakhs p.a. average |
|
Supply Chain Coordinator |
₹8.8 lakhs p.a. average |
5. MBA in Marketing Management
This MBA in Marketing Management program is one of the first MBA programs offered. It is also one of the most well-liked academic fields. It largely focuses on areas like product management, executive and leadership qualities, sales, and marketing. Below are the few job positions with their average salary one can apply for after the completion of the course:
|
Job Position |
Average Salary (INR) |
|
Senior Marketing Manager |
₹13.42 lakhs p.a. average |
|
Marketing Manager |
₹6.85 lakhs p.a. average |
|
Senior Business Analyst |
₹9.94 lakhs p.a. average |
|
Business Development Manager |
₹5.97 lakhs p.a. average |
|
Business Development Executive |
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