21, July 2022
MBA or Master of Business Administration is one of the most coveted postgraduate courses the current youth of India is inclined to. The perks that come with the degree act as a catalyst in this case. Known for enabling students to bag the highest paid jobs, MBA builds the perfect premise of business disciplines which form the core of the knowledge and skills that professionals can leverage in the corporate world. The world is currently so much powered by corporations and their commercialism that it will not be too presumptuous of us to say that it is the corporate world that governs the world economy.
Owing to these facts, the students aim to get themselves enrolled in different prestigious business schools for this two year-long degree. An MBA graduate is very high in demand not only in the country but also abroad. This degree offers many specializations from which one is required to choose the program that seems most viable to them in terms of interest and most importantly placements and packages received.
Just in case you needed a well-jotted guide on the packages received after pursuing a particular program, here is a well laid read for you!
Let us look at some of the most common specializations that an entails:
Getting an MBA Specialization is often considered to be the ladder to bagging a high paying job. However, this expectation might not always be the case.
Enlisted below are those disciplines that are most sought after in the country at present-
| Specialization | Description | Job Roles |
|---|---|---|
| MBA in Marketing | MBA in marketing helps an individual to accelerate their interpersonal and communication skills and enhance their leadership skills. An MBA in marketing covers all facets of marketing holistically. | Business Marketing, Digital Marketing, Retail Marketing, Brand Management, Product Management, etc. |
| MBA in Finance | MBA in Finance is one of the most in-demand MBA courses in India. It brings with it several opportunities in the business and finance sector. | Finance Sector Roles |
| MBA in Human Resources | The need for HR specialists has increased as human resource management has become more relevant in all industries. MBA in Human Resources prepares individuals for HR roles. | HR Operations, HR Management |
| MBA in Business Analytics | The scope of an MBA in Business Analytics is on the rise. It prepares individuals for roles such as data analyst, business analyst, marketing data analyst, etc. | Data Analyst, Business Analyst, Marketing Data Analyst, etc. |
| MBA in Entrepreneurship | MBA in Entrepreneurship provides a holistic perspective to run a corporation or a business. It is aimed at those who wish for senior managerial roles in various fields. | CEO, Vice President, Supervisor, Business Consultant, Executive, etc. |
| MBA in Healthcare Management | MBA in Healthcare Management or Hospital Management has gained popularity. It provides work prospects in healthcare leadership roles. | Healthcare CEO, Hospital CFO, Medical Project Leader, Hospital Supervisor, Hospital Financial Managers, etc. |
Most of the corporate firms look for an employee with some kind of an experience. Only a few prefer novices. Experience is one crucial factor that plays a significant role in manipulating the salary you get. Some firms proactively look for candidates with better qualifications and more years of experience, while other businesses may have job roles that are open to more fresher’s and young talent. It is important to weigh the requirements of each company you’re applying to. Additionally, it is also pivotal to note that fresher’s must decide their overall career goal in the first 3 years of their professional lives so lay out a clear, visionary, and upward moving compensation bracket for themselves.
Salary is a very vital determinant of which specialization one should pursue. When it comes to preference in leadership roles, professionals who hold an MBA degree have the potential to make a fortune. To walk students through the earning metrics of some popular specializations, here are the average annual salaries of each. Additionally, the college you go to also goes a long way in deciding a student’s annual package. If a student has completed his MBA from a tier 1 college, he/ she will most certainly have a higher annual package than the former.
| Course | Average Annual Starting Salary |
|---|---|
| MBA in Marketing | Rs 7,82,000 |
| MBA in Digital Marketing or Media Management | Rs 5,50,000 |
| MBA in Finance Management | Rs 7,30,000 |
| MBA in Human Resource Management | Rs 5,20,000 |
| MBA in Business Analytics | Rs 5,40,000 |
| MBA in Entrepreneurship | Rs 5,50,000 |
| MBA in Information Technology | Rs 7,60,000 |
| MBA in Event Management | Rs 5,77,000 |
| MBA in Healthcare Management | Rs 6,00,000 |
| MBA in Operations and Supply Chain Management | Rs 6,00,000 |
If you want to ensure a secured future, perhaps an MBA is the right fit for you. It not only lets you upskill but also indicates towards a great future. Most MBA graduates pursue the degree to seize managerial opportunities and climb up the success ladder or to make a shift in their careers. The salaries are impressionistic depending on various factors such as experience, knowledge, location, etc. Irrespective of the program you pursue, the goal will be common for all i.e to embody the goals and objectives of the company. With this guide on the salary offered after pursuing various specializations, we hope that you will get a good grip on the importance every discipline holds and make an educated choice.
