MBA Salary in India: Know Specialisation-wise Salary breakup

MBA Salary in India: Know Specialisation-wise Salary breakup

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Shruti
Shruti Garg
Assistant Manager- Editorial
Updated on Dec 4, 2024 10:49 IST

There is ample scope for MBA graduates in our country in various domains. Read all about top MBA institutes in India, highest salaries and top recruiters for the year 2024-2025 below.

 

The Masters of Business Administration full form of MBA is one of India's most popular and demanded postgraduate courses. MBA in India is offered under various specialisations such as Finance, Marketing, Operations, Consulting, IT & Technology, Healthcare, and so forth. The qualification and experience of the candidate are directly proportional to the MBA salary in India offered by the organisation. Before choosing the MBA specialization, students have to carefully choose the stream that renders more job opportunities in the market and the highest annual compensation.

Top Job Sectors after completing MBA

There is ample scope for MBA graduates in our country in various domains. Students should choose their stream of study based on their interests and career goals. Some of the top Jobs after completing an MBA in India are:

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Banking and Finance

These jobs are available with banks and are concerned with investment analysis, commercial banking, transaction banking liabilities management, portfolio management, and data security.

Information system management

The ideal candidate is required to provide a thorough cost analysis for the right technology to be used in managerial departments.

Q:   How are NMIMS Mumbai placements?

A:

The key highlights related to NMIMS Mumbai placements 2024 are tabulated below:

ParticularsPlacement Statistics (2024)
the highest package

- INR 67.70 LPA (MBA Core)

- INR 25.02 LPA (MBA HR)

- INR 26.49 LPA (MBA Tech)

- INR 21 LPA (BPharma+MBA/ MPharma+MBA)

Average package

- INR 25.13 LPA (MBA Core)

- INR 18.64 LPA (MBA HR)

- INR 10.70 LPA (MBA Tech)

- INR 9 LPA (BPharma+MBA/ MPharma+MBA)

Median package

- INR 10.20 LPA (MBA Tech)

Top 10% package

- INR 40.60 LPA (MBA Core)

- INR 24.67 LPA (MBA HR)

Top 20% package

- INR 37.10 LPA (MBA Core)

- INR 22.95 LPA (MBA HR)

Top 30% package

- INR 34.40 LPA (MBA Core)

- INR 22 LPA (MBA HR)

Top 40% package

- INR 32.10 LPA (MBA Core)

- INR 21.50 LPA (MBA HR)

Total recruiters

- 168 (MBA Core)

- 46 (MBA HR)

- 122 (MBA Tech)

New recruiters

- 72 (MBA Core)

- 21 (MBA HR)

- 35 (MBA Tech)

Fortune 500 recruiters

- 68 (MBA Core)

- 23 (MBA HR)

PPOs received

- 37% (MBA Core)

- 27% (MBA HR)

Q:   What is the lowest package offered at IIM Nagpur?

A:

The institute has not disclosed the lowest package. However, the median package has been released. The median package offered during IIM Nagpur MBA placements 2024 stood at INR 16 LPA. Further, a fluctuating trend was witnessed in the IIM Nagpur median package offered over the past three years of placements, which is presented below:

Particulars  MBA Placement Statistics (2022)MBA Placement Statistics (2023)MBA Placement Statistics (2024)
Median package  INR 15 LPAINR 16.85 LPAINR 16 LPA

Q:   Does IIM Udaipur offer 100% placements?

A:

Yes, IIM Udaipur has a strong track record of placements for its MBA/PGDM courses. During IIM Udaipur placements 2024, the highest and average package (earning potential) offered to the MBA batch 2024 stood at INR 47 LPA and INR 18.8 LPA, respectively. The key highlights of IIM Udaipur placements for the Class of 2024 are presented below:

Particulars

Placement Statistics (2024)

Highest package

MBA: INR 47 LPA

MBA - GSCM: INR 39.37 LPA

MBA - DEM: INR  35.44 LPA

Average package

MBA: INR 18.8 LPA

MBA - GSCM: INR 22.37 LPA

MBA - DEM: INR 21.67 LPA

Median package

MBA - GSCM: INR 20 LPA

MBA - DEM: INR 20 LPA

No. of offers accepted

MBA: 291

MBA - GSCM: 49

MBA - DEM: 52

Companies visited

MBA: 108

MBA - GSCM: 23

MBA - DEM: 24

NOTE: The audited placement report for batch 2022-24 is yet to be released. It will updated here as and when released.

Now, take a look at the key highlights of the IIM Udaipur placements for the Class of 2023 in the table below:

Particulars

Placement Statistics (2023)

Highest package

MBA: INR 35.04 LPA

MBA - GSCM: INR 41.38 LPA

MBA - DEM: INR 34.07 LPA

Average package

MBA: INR 20.02 LPA

MBA - GSCM: INR 20.63 LPA

MBA - DEM: INR 21.47 LPA

Median package

MBA: INR 18.53 LPA

MBA - GSCM: INR 19 LPA

MBA - DEM: INR 21 LPA

Placement rate

100%

No. of offers accepted

MBA: 301

MBA - GSCM: 44

MBA - DEM: 46

Companies visited

MBA: 77

MBA - GSCM: 19

MBA - DEM: 21

Data Analytics

These professionals make sense of the big data in different sectors such as retail, banking and e-commerce management.

Entrepreneurship

This stream equips the candidate to start their own business and be the head of their own start-ups.

Also Read: Top PGDM Colleges in India

Four Factors Determining the Starting MBA Salary in India

1. Prior work experience 

Having work experience before joining the MBA programme gives an added advantage to the candidates in the placements. When the experienced and non-experienced are placed in the same organisation with the same profile, the compensation varies with the package of the experienced being superior. However, candidates must have valid years of experience before joining the programme 

2. Specialisation 

In India, MBA is offered under various specialisation amongst which popular ones are Consulting, sales and marketing, finance, human resources, IT and Systems, Operations and International Business. On the basis of the 2020-2021 placement reports of the top MBA colleges in India Consulting sector has acquired the highest CTC followed by Finance.  

Q:   How are MBA placements at IIM Indore?

A:

 The table below showcases course-wise the highest and average package offered in 2023 placements:

Parameter

Placement Statistics (2023)

Highest package (PGP-HRM)

INR 34.50 LPA

Average package (PGP-HRM)

INR 22.65 LPA

Median package (PGP-HRM)

INR 22.20 LPA

Batch strength

38

Total recruiters

20

Q:   What is the career scope of PhD course?

A:

The PhD holders can make a career in the respective area of specialisations. Some of the popular job profiles for PhD candidates is teaching jobs, government jobs, financial managers, development writer, etc. Moreover, many companies recruit PhD holders from government and private sectors. Find below salary data for PhD job profiles according to the website Payscale.com:

Job Position

Average Salary

Assistant Professor

INR 7.5 LPA

Associate Professor

INR 10 LPA

Professor

INR 13 LPA

Research Associate

INR 7.5 LPA

Consultant

INR 8 LPA

Read more about PhD course and career prospects, here.

3. B-School  

One of the major factors that determine the MBA degree salary is the institute from which the candidate has graduated. The average MBA graduate salary in India from IIM stands between Rs. 8 LPA to Rs. 28 LPA.  

4. Geographical location 

Besides the factors such as B-school and qualifications, geographical location has a crucial role to play in the salary. The location of the organisation helps in fixing the offer on the basis of market value and cost of living. In India cities such as Mumbai, Bangalore, Delhi and Chennai offer high pay.  

Starting MBA Job Salary in India- Specialisation-wise breakup 

MBA Salary in India: Finance

Refer to the table below to know the MBA finance salary in India.

Job Profile

Average Starting Salary 

Financial Analyst 

INR 3.63 LPA 

Corporate Finance 

INR 6.10 LPA 

Assistant Vice President - Corporate Banking 

INR 19.26 LPA 

Credit Risk Management 

INR 11 LPA 

Derivatives Structuring 

INR 9.25 LPA 

Portfolio Manager 

INR 11.35 LPA 

Treasury Manager 

INR 9 LPA 

MBA Salary in India: Business Analytics

Refer the table below to know the MBA Business Analytics salary in India.

Job Profile 

Average Starting Salary 

Marketing Analyst 

INR 4.87 LPA 

Data Analyst 

INR 4.38 LPA 

Marketing Manager 

INR 6.85 LPA 

Senior Business Analyst 

INR 9.94 LPA 

Order Processing Manager 

INR 4.34 LPA 

Business Analyst (Unspecified Type) 

INR 5.42 LPA 

MBA Salary in India: Sales and Marketing

Refer the table below to know the MBA sales and marketing salary in India.

Job Profile Average Starting Salary
Sales Management INR 6.09 LPA
Marketing Management INR 5.97 LPA
Business Development INR 6.77 LPA
Customer Relationship Management INR 6.37 LPA
Strategic Management INR 8.05 LPA

MBA Salary in India: Human Resources

Refer the table below to know the MBA human resources salary in India.

Job Profile 

Average Starting Salary 

HR Manager - Talent Acquisition 

INR 3.5 LPA.  

HR Manager - Training 

INR 4.6-4.7 LPA. 

HR Manager - Compliance 

INR 3-4 LPA. 

HR Professor 

INR 2-3 LPA. 

 MBA Salary in India: Operation Management

Refer the table below to know the MBA operation management salary in India.

Job Profile 

Average Starting Salary 

Operations Manager 

INR 7.8 LPA 

Supply Chain Program Manager 

INR 8.74 LPA 

General Operations Manager 

INR 12.24 LPA 

Business Process Managers 

INR 7.79 LPA 

Technical Operations Manager 

INR 10.17 LPA 

Area Operations Manager 

INR 6.02 LPA 

Plant Manager 

INR 16.68 LPA 

MBA Salary in India: International Business

Refer to the table below to know the MBA International business salary in India.

Job Profile 

Average Starting Salary 

Account Manager 

INR 3.6-6 LPA 

Sales Manager 

INR 4.80-12 LPA 

Business Development Manager 

INR 4-8 LPA 

Marketing Manager 

INR 3.6-10 LPA 

MBA Salary in India: Management Consulting

Refer to the table below to know the MBA management consulting salary in India.

Job Profile

Average Starting Salary 

Strategy Consulting 

INR 13.53 LPA 

IT/Technology Consulting 

INR 9.79 LPA 

Operations Consulting 

INR 6 LPA 

HR Consulting 

INR 5 LPA 

Marketing & Sales Consulting 

INR 3 LPA 

MBA Salary Per Month in India

Check the table below to know the approximate average range of salary per month in India for various specializations:

MBA Specialisation Average MBA salary per month in India
MBA in Healthcare INR 50,000
MBA Marketing  INR 65,000
MBA in Digital Marketing INR 45,000
MBA in Finance INR 60,000
MBA in Event Management INR 50,000
MBA in HR INR 43,000
MBA in Operations INR 63,000
MBA in Business Analytics INR 45,000
MBA in Entrepreneurship INR 45,000
MBA in IT INR 48,000

MBA Placements

The best part of joining an MBA program in a top business school is that the students are placed in top-notch organizations when they are still in the final year of their course. Placements for the year 2024 have already been completed or are in their final stage of completion in the MBA institutes. IIM Placements was over by February/March 2024.

MBA starting salary in India 2024 and top recruiters are discussed in the table below.

Name of IIM

Highest CTC (INR)

Average CTC (INR)

IIM Ahmedabad

INR 1.46 CPA

INR 34.45 LPA

IIM Bangalore

NA

INR 35.92 LPA

IIM Calcutta

1.20 CPA

INR 35.07 LPA

IIM Lucknow

INR 65.00 LPA

INR 30.00 LPA ( for 2024)

IIM Kozhikode

INR 72.02 LPA

INR 29.20 LPA

IIM Indore

INR 1.00 CPA

INR 25.68 LPA

IIM Shillong

INR 71.50 LPA

INR 26.10 LPA

IIM Rohtak

INR 48.25 LPA

INR 19.27 LPA

IIM Ranchi

INR 37.80 LPA

INR 18.69 LPA 

IIM Raipur

INR 67.60 LPA

INR 21.04 LPA

IIM Tiruchirappalli

INR 43.69 LPA

INR 19.43 LPA

IIM Kashipur

INR 37.00 LPA

INR 18.10 LPA

IIM Udaipur

INR 47.00 LPA

INR 18.80 LPA

IIM Nagpur

INR 38.40 LPA

INR 16.29 LPA

IIM Vishakhapatnam

INR 43.25 LPA

INR 15.61 LPA

IIM Bodh Gaya

INR 32.50 LPA

INR 13.09 LPA

IIM Amritsar

INR 58.52 LPA

INR 16.51 LPA

IIM Sirmaur

INR 64.12 LPA

INR 14.45 LPA

IIM Sambalpur

INR 23.50 LPA

INR 14.21 LPA

IIM Jammu

INR 31.75 LPA

INR 15.48 LPA

IIM Mumbai

INR 54.00 LPA

INR 29.44 LPA

High Demand for Consulting Graduates in 2024:

It has been noticed that the highest per cent of the responding organizations wish to place the graduates from the business schools in the Consulting sector. This trend shows that consulting is one of the top job functions that employers will place the new business school graduates followed by Finance, Marketing and IT sectors.

MBA Starting Salary 2024 in India

The Indian scenario is overwhelming as far as the starting salary after MBA is concerned. On average MBA starting salary ranges between INR 7 LPA to INR 12 LPA per annum and upwards. Graduates specializing in finance, marketing, data analytics, and HR continue to bag the highest starting salaries among other MBA specializations.

The average placement salaries for some of the top Business Schools in the country are as follows.

Name of the Institution

MBA starting salary in 2024 (per annum)

FMS Delhi

INR 34.1 LPA

MDI Gurgaon

INR 25.5 LPA

XLRI Jamshedpur

INR 29.89 LPA

SPJIMR Mumbai

PGDM and PGDM (BM): INR 33 LPA

PGPM: INR 23.88 LPA

JBIMS Mumbai

INR 27.63 LPA

IIM Indore

PGP: INR 25.68 LPA

PGPHRM: INR 22 LPA

IIFT Delhi

INR 29.1 LPA

Admissions into MBA programs

Read More:

FAQs Regarding MBA Starting Salary

Q: Which B-schools’ placement process offers a high salary to its students?

A: Generally, students of IIMs or other top B-schools such as IIFT Delhi, XLRI Jamshedpur, MDI Gurgaon, NITIE Mumbai, etc. receive the highest salary figures among other B-schools from their recruiters.

Q: Which B-School students receive the highest starting salaries?

A: The B-School students which receive the highest starting salary figures are IIM Calcutta, SPIJIMR Mumbai, FMS Delhi, MDI Gurgaon among others, which is above Rs 20 lakh per annum (LPA).

Q: What is the difference between the highest salary and the average salary?

A: The highest salary refers to the optimum amount or the highest salary amount offered to a student during the placement process. The highest salary is offered to only one student. In certain cases, more than one student is offered the highest salary figure. On the other hand, the average salary is referred to as the salary figure which is offered to the majority of the students of the batch. The average salary is higher than the lowest or starting salary, but lower than the highest salary.

Q: Apart from IIMs, which are the top private institutes that offer high salary figures in the placement process?

A: Apart from IIMs, the other top private B-schools which record-high salary figures during the placement process are XLRI Jamshedpur, SPJIMR Mumbai, NMIMS Mumbai, MDI Gurgaon, IMT Ghaziabad, IMI Delhi, to name a few.

Q: Is there any difference in the salary figure offered to students with no work experience vis-a-vis students with work experience?

A: Many B-schools conduct Lateral Placement processes for the students who have prior work experience. In most of the cases, the salary figures offered to the experienced students are more than that of the freshers owing to their prior experience which would add value to the company.

Q: What are the factors based on which the salary figure is decided by the recruiters?

A: The factors based on which MBA students’ salary figure is decided include prior work experience, job title or designation, job role or responsibilities to be fulfilled, industry sector and domain, location and company, B-School rank, to name a few.

 Q: Which are the top recruiters which participate in the placement process of B-schools?

 Q: Which are the top recruiters which participate in the placement process of B-schools?

A: Some of the top recruiting companies across top B-schools include McKinsey & Company, Boston Consulting Group, American Express, Citi Bank, Pricewaterhouse Coppers (PwC), Deloitte, Cognizant, Infosys, Wipro, Axis Bank, etc.

Q: What is the difference between Summer Placement and Final Placement?

A: Summer Placement is conducted at the end of the first year for the students who have completed their first year and will be promoted to the second year. Students are sent for a Summer Internship of three to four months duration, wherein they are paid stipends. Students who perform well are offered Pre Placement Interview (PPI) or Pre Placement Offer (PPO) by companies. On the other hand, Final Placement is conducted for the students in their second year and they are offered full-time jobs.

Q: Is the placement process conducted in all B-schools?

A: Yes, the placement process is conducted in all B-schools for both first and second-year students (Summer Placement and Final Placement respectively). However, the stature of the placement depends on the number of participating companies, number of offers and salary structure to name a few.

Q: Is the salary range offered at the mid-rung B-schools similar to that of the top B-schools?

A: While there is no hard and fast rule that the salary figures offered to students in mid-rung B-schools would be lower than that of the top B-schools, but as per trends and statistics, the salary figures offered to the top B-School students are higher than that of the mid-rung institutes.

Q: Is it mandatory for all students to participate in the placement process?

A: No, every student of a batch doesn't need to participate in the B-School placement process. Some of the students voluntarily opt-out of the placement process either to pursue higher studies or start their business venture or join their family business, etc.

About the Author
author-image
Shruti Garg
Assistant Manager- Editorial

Shruti is a graduate in Education and Literature. She is a passionate writer. As her name suggests she is a good listener, a binge-watcher, and a great foodie. She loves playing badminton and doing meditation in her... Read Full Bio

Comments

(8)

E

E Anbarasi

4 months ago

My daughter finished her B. Com, tally and MBA in HR, how can she get job

Reply to E Anbarasi

A

Anurag Majumder

3 years ago

My friend having an experience in a company for 6 years and doing distance MBA. What are the prospect for distance MBA?

Reply to Anurag Majumder

T

Tarun

3 years ago

I am an army officer. Planning to join MBA programme. What are job aspects for me.

Reply to Tarun

s

saibal Roy

3 years ago

Even though very wide variations. So called 2nd rung B School students are getting only 6-9 Lakhs average CTC as a fresher. Is the quality so different? A frustration is cultivated right in the beginning.

Reply to saibal Roy

Superb! Provides most of the relevant info.. But all are not able to take admission in the top ranking MBA Colleges in India..Hence if you want to find the average salary for all MBA graduates for their respective jobs do check: https://www.yourheadphonebuddy.com/2020/07/mba-salary-India.html

Reply to Bishal Chakraborty