MBA although the hottest post-graduation course in India, invites worries to a large extent. The worry and confusion are natural, taking into consideration the hefty investment it requires to study MBA from a reputed B-school.
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In today’s competitive world, an MBA presents you some of the highest paying jobs in diverse sectors.
But interestingly, despite the hype of an MBA program in modern India, little information is available to guide students into choosing a favorable career option that ultimately leads them to land up a fat salaried job!
While you can choose any job you want based on your interest, here is a more detailed list of the highest paying job profiles for which you can aim from the start.
Some of the jobs that offer best-in-class compensation to MBAs are as follows.
- Project Manager
This is the most common job profile for which the majority of MBA graduates are actually hired for.
You would be hired by corporate giants during your campus recruitment and you would be offered the entire charge of a project and all the aspects related to it.
While it sounds very simple, this job is also categorized into responsibilities like team building, project execution, growth forecasts, planning, and strategy, etc.
This job has become way very popular in IT sectors and even in new-age firms which handle several projects simultaneously and thus the dire need of a skilled project manager is always constant.
According to reports, even if you are recruited as a fresher right after finishing your MBA studies for the role of a project manager, you can expect to receive no less than INR 5 lakhs per annum initially.
If you have work experience, you might even be offered a salary of INR 19 lakhs to 20 lakhs per annum easily.
Team management and building, excellent management skills, basic financial understanding, eagerness to achieve targets and communication skills are some of the requisites for this job.
- Business Development Manager
This job profile is very common and is often referred to as the BD manager. This is another job profile which has always helped students to draw hefty packages over the years.
The work profile of this post would involve formulating effective strategies and suggesting possible and practical plans which would work in favor of the growth of the business.
Apart from this, your task as a BD manager would keep a close looks at the execution of previously proposed plans with your team so that the outcome turns out to be positive.
In terms of remuneration, a fresher is expected to receive a pay scale of about INR 5.5 lakhs per annum and if you manage to acquire a few years of experience in the sector, you would be offered no less than INR 15 to 16 lakh every year.
For this job, basic qualities which are bound to be owned by MBA graduates are only expected like:
- Communication skills
- Networking skills
- Creative thinking
- Analytical skills
- Ability to meet deadlines
- Inter-personal skills.
- Investment Banker
Although the job role might seem to you as offbeat, you can establish your career in this sector drawing a hefty salary every month.
The role of an investment banker in companies and government agencies would be to offer strategic advice so that the financial institution can effectively raise money in the capital markets.
In order to be eligible to get hired as an investment banker, you need to possess a stronghold in MBA with finance as your specialization.
If you opt for finance as your specialization you might be offered job opportunities from investment industries like commodities, securities, etc.
While it is hard to predict the salary of an investment banker as it depends on a ton of parameters like location, company size, and experience, Glassdoor reported in 2018 that the average annual salary hovers somewhere around minimum INR 523,000 to 1,614,000.
For an investment banking VP in India, the cost-to-company was roughly around INR 25,980,000 as per December 2018 reports by Payscale.
- Information Technology Director
This job might also seem to be unknown to some, but right now various IT corps are hiring a truckload of candidates to play their desired part in this role.
If you are hired for this job profile then your task would be to take various steps to ensure the information technology of your organization is effective.
You would have to start by analyzing the requirements of the IT department and providing the department with feasible equipment or plans.
This would ensure the best and the most effective use of the IT resources while guarantying a smooth flow of the business process.
But this job role is not suitable for all the MBA candidates as the companies who release vacancies for this role are willing to take only the students concentrating their MBA studies around IT management.
In India, an IT Director with more than 10 years of industry experience is expected to receive INR 1,356,692 to 5,709,206 as yearly salary, apart from other perks.
- Marketing Manager
If you are looking forward to pursuing the course of MBA then you might know that marketing is one of the happening fields currently.
As you can understand from the job title, that the chores of a marketing manager would be to examine and improvise the marketing efforts of your company.
If you decide to take up marketing as your specialization you own the chance of getting recruited as a marketing manager.
Your everyday tasks might involve formulating, planning and executing effective marketing strategies and analyzing its outcomes after the execution
Although no particular skills are required, a potential candidate might be able to develop vast networks, own excellent communication skills and the ability to effectively plan and execute goals.
As per the corporate sphere is considered, the marketing managers are in great demand so they are bound to withdraw a commendable salary of at least INR 6 lakhs per annum, even as fresher, as per.
- Health Services Manager
With the growth in the healthcare sector, the demand for knowledgeable managers is always on the rise to ensure a smooth running of the business.
The aim of the healthcare managers would be to ensure that their organizations stick to government reforms while providing health services. But apart from this, they are also entrusted with the responsibility of supervising the doctors, clerical workers, and technicians, etc.
While in small facilities they usually are in charge of the maintenance of the entire facility, in large hospitals, they usually manage a single department, such as the finance or the patient care services.
In order to be applicable for this job role, you need to pursue your MBA with specialization in health services management. But if you previously have a degree in healthcare administration, pursuing your MBA in finance can lead you towards bagging this fat salaried job.
If speculations are to be believed then 17% projected growth is expected between the years of 2014 and 2024.
The salary of a Health Services Manager ranges around INR 606,782 per annum.
- High-end Management Consultant
To stay relevant and competitive in the industrial rat race, companies hire high-end management consultants. Their aim is to help companies deal with their management problems by regulating factors such as reducing costs, increasing profits and productivity.
Their services are found to be very beneficial when a company is just starting over or adjusting to new business regulations. Your task would be to offer advice to some of the top executives of a company, like chief executive officers, chief financial officers, and chief operating officers.
You just need to present your MBA degree with any specialization for this work profile.
The growth in this industry has seemed to surpass all the other sectors, with a projected growth of 14% between 2014 and 2024.
The average annual salary of a high-end management consultant was found to be more than INR 10 lakhs per annum.
- SAP Consultant
When it comes to choosing the best SAP consultants, MBA graduates are preferred by most recruiters. If you see the job market closely, you would find that SAP consultants are in fact reigning in it since the last few years.
SAP which stands for Systems, Applications and Products are generally related to the data processing industry, one of the sectors which are in rage currently.
This is another hefty salaried job which deserves completely to be in this list. If you are appointed for this specific role by a giant firm, you would be responsible for formulating products and solutions to fulfill the needs of the clients.
As this industry is currently as its nascent stage, the remuneration is somewhat lower than the other options featured above. The salary ranges between INR 2.93 lakhs and 12.37 lakhs per annum.
Also for this job, no special skills are demanded from the candidate except excellent communication skills, technical knowledge, analytical skills, and negotiation skills.
- Human Resource Manager
The human sector is a sector which still has been attracting candidates from the top B-schools and enables students to enjoy a high salary package.
Although rumors suggest that HR managers have little to do, they are in fact in charge of a ton of responsibilities. An HR manager would supervise the staffing recruitment of the organization and would also look into the well-being of the employees.
In addition, HR managers would also have to do everything to ensure a friendly and cordial work atmosphere prevailing in the organization.
While HR manager is a generalist position and often does not require any special skills to bag the job, but to appear potential in the eyes of recruiters, one needs to complete MBA with HR as the specialization.
Reports suggest that the national average salary of HR managers in India ranges around INR 11 lakhs per annum.
- Computer And Information Systems Manager
Another job profile which although is not popular as the others enlisted in this list, but still is counted as one of the highest paying jobs after MBA.
The CIS manager has to look after all the computer-related activities of the organization. From installing and upgrading the software to providing the ICT infrastructures, their tasks are not limited over here.
They are also entrusted with the job of development and maintenance of the computer networks while adhering to the organizational policy meeting the quality standards.
To be eligible for employment in the above-mentioned job role, you need to complete your MBA with either information science or information technology as your specialization.
Apart from this, most recruiters also demand their candidates to own strong interpersonal skills and impressive communication and leadership skills.
If you decide to work as a CIS manager, you would be getting job opportunities from sectors like insurance, finance, and systems design industry.
People with less than 20 years of industry experience can work as CIS Managers, with an average salary of INR 8 to 10 lakhs per annum.
- Chief Technology Officer
Another role combined with both managerial and technological concepts, an aspirant need to complete their masters in MBA with specialization in information technology management.
Your job would include creating a strong technical vision for your company, manage the technical team and ensure technological growth.
You might also be responsible for identifying the latest technology trends and supervising special projects by adhering to the technical standards.
Experienced Chief Technology Officers with work experience of nearly 20 years can expect an annual compensation of about INR 3,355,000 in India .
While these are some of the highest paying jobs you can get after completing your MBA, there are also many other job profiles with hefty salaries. Of course, the compensation level goes higher up with the years of experience that you gather as a professional.