MBA Salary in India: Know Specialisation-wise Salary breakup
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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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?
The key highlights related to NMIMS Mumbai placements 2024 are tabulated below:
| Particulars | Placement 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?
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 LPA | INR 16.85 LPA | INR 16 LPA |
Q: Does IIM Udaipur offer 100% placements?
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?
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?
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) |
|---|---|---|
| INR 1.46 CPA |
INR 34.45 LPA |
|
| NA |
INR 35.92 LPA |
|
| 1.20 CPA |
INR 35.07 LPA |
|
| INR 65.00 LPA |
INR 30.00 LPA ( for 2024) |
|
| INR 72.02 LPA |
INR 29.20 LPA |
|
| INR 1.00 CPA |
INR 25.68 LPA |
|
| INR 71.50 LPA |
INR 26.10 LPA |
|
| INR 48.25 LPA |
INR 19.27 LPA |
|
| INR 37.80 LPA |
INR 18.69 LPA |
|
| INR 67.60 LPA |
INR 21.04 LPA |
|
| INR 43.69 LPA |
INR 19.43 LPA |
|
| INR 37.00 LPA |
INR 18.10 LPA |
|
| INR 47.00 LPA |
INR 18.80 LPA |
|
| INR 38.40 LPA |
INR 16.29 LPA |
|
| INR 43.25 LPA |
INR 15.61 LPA |
|
| INR 32.50 LPA |
INR 13.09 LPA |
|
| INR 58.52 LPA |
INR 16.51 LPA |
|
| INR 64.12 LPA |
INR 14.45 LPA |
|
| INR 23.50 LPA |
INR 14.21 LPA |
|
| INR 31.75 LPA |
INR 15.48 LPA |
|
| 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) |
|---|---|
| INR 34.1 LPA |
|
| INR 25.5 LPA |
|
| XLRI Jamshedpur |
INR 29.89 LPA |
| SPJIMR Mumbai |
PGDM and PGDM (BM): INR 33 LPA PGPM: INR 23.88 LPA |
| INR 27.63 LPA |
|
| PGP: INR 25.68 LPA PGPHRM: INR 22 LPA |
|
| IIFT Delhi |
INR 29.1 LPA |
Admissions into MBA programs
- To gain admission into MBA programmes, the candidate should have a minimum of 50 per cent marks in their graduation degree from any authorized university or board.
- Some of the top MBA colleges also consider the scores of common entrance examinations such as XAT, CAT, MAT, and GMAT for MBA admission.
- The top business schools in the country admit students to different MBA programs such as MBA in finance, MBA in marketing, MBA in business analytics, MBA in entrepreneurship, MBA in IT & Systems and a lot more.
Read More:
- MBA Placements: Placement Report of Top B-Schools in India
- MBA Placement -The Ultimate Goal?
- Lowest packages offered at IIMs and other B-Schools
- IIM Sambalpur’s Anant Kulkarni reveals how he bagged Rs 60 lakh pay package
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.
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
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