MBA programs in India define money, status and respect. I hope I am not the only one who feels that MBA jobs are the highest paying. I am sure you must be having some of your friends, relative or acquaintance who must be an MBA graduate earning 10 times of what you are. Now, the question is why are MBA jobs the highest paying and where do MBA graduates differ from others?
An MBA degree develops the student’s personality and trains them to tackle the challenges thrown by the rapidly changing corporate world. Also, the employers and organizations understand that there are unique aspects to a specific industry that can benefit from the expertise, skills and knowledge of an MBA professional. The students/professionals, thus, invest their time and money into earning an MBA degree as the skills learned are respected in the corporate world and provide them with high paying MBA job opportunities.
Now let’s discuss the common perspective towards ‘MBA programs being a key to lucrative careers’ and learn:
Why are salary packages after MBA so high?
While pursuing an MBA program, the student develops the latest foundational and core expertise of that field that prepares them to take their current organizations to new heights or start their own business. Plus, as part of their management education, the students are imparted with certain managerial skills that build their confidence to inspire their colleagues or team members, present to senior leadership committees or even pitch to venture capitalists.
MBA graduates from premium B-schools of India, for instance, undergo an intensive process of training and learning. They are trained to work on research projects in high-pressure conditions and are expected to perform well enough. At times, they are also pushed into situations where they are expected to handle multiple things and achieve maximum success. Hence, MBA graduates are trained to sustain all type of challenges for what a graduate belonging to any other field, takes years of experience.
The employers, thus, invest their resources in hiring MBA graduates to fill data analytics, marketing, finance and business development roles because they believe that when times would get rough, the organization could rely on these professionals for some efficient solution. As a matter of fact, some reports state that the trend of hiring graduates for highest paying MBA jobs, continue to be strong for companies of all sizes. Be it Fortune 500 companies to startups, freelancing to non-profit organizations, private sector to government organizations, all businesses require someone proficient enough to handle the ups and downs of the industry and come out with an innovative and practical solution for all the problems.
MBA specializations with the highest salary packages
According to the report by GMAC, in 2018, the demand for employing MBA professionals has increased in sectors like healthcare, technology and energy/utilities. On the other hand, the demand in commonly known industries that hire graduates with variable MBA job titles and responsibilities is still going strong. Such industries include:
- Finance and Accounting
- Non-profit and Government
However, there can be a discrepancy observed in MBA job roles offered to graduates by the multinational companies, the start-ups and other small organizations. Recently, at most larger organizations, professionals are getting MBA jobs at mid-level strategic or operational positions, depending on their level of experience. On the other hand, startups and other smaller organizations are offering senior or executive-level, high-paying MBA positions to graduates.
Many people associate an MBA with traditional management, consulting or executive positions, however, in recent times, it is an education that is being applied to the operational, imperative and sustainability aspects of the variety of industries and MBA job titles.
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An Art Curator, for example, has to be able to incorporate the creative side with the business side. That way, when they are building up collections for the art galleries, they are also involved in the identifying and reporting items, raising funds and dealing with queries. All of these tasks require curators to work with associates in areas such as conservation, education, design and marketing. In addition, they may administer research and may address on findings or ongoing activities. Thus, an MBA professional with an interest or prior work experience in this field could do wonders for the art gallery and hence is preferred over other candidates for the job.
In the end, we would like to emphasize on the profound skills that a student develops while pursuing a management program. An MBA can indicate that command over strategic thinking, data analysis, and problem-solving skills are valued and rewarded by today's employers. Hence, graduates are offered high-paying MBA jobs.