Starting salaries of MBA graduates in India for the year 2021

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Shruti
Shruti Garg
Senior Executive
Updated on Aug 26, 2021 20:38 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 2020-2021 below.

The Masters of Business Administration full form of MBA is one of the popular and demanded postgraduate courses in India. Since its inception, it has evolved to focus on different aspects of management and business operations. MBA in India is offered under various specialisatios such as Finance, Marketing, Operations, Consulting, IT & Technology, Healthcare and so forth. Some of the specialisations are in high demand both nationally and internationally. The qualification and experience of the candidate is directly proportional to the MBA starting salary in India offered by the organisation. The  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.

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.

Check CAT 2019 Cutoffs and predict calls from IIMs and other Top MBA Colleges, whether your CAT score is 70 percentile, 80 percentile or 90 percentile. Check Fees, Placement Reviews, Admission, Shortlist Criteria and eligibility of all MBA Colleges by clicking the link below:

Predict IIM & Non-IIM Calls

Factors Determining the Starting Salary of MBA Postgraduates in India

Prior work experience 

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

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.  

B-School  

One of the major factors that determines the salary of the MBA postgraduates is the Insititute from which the candidate has graduated. The average salary of IIM stands between Rs. 8 LPA to Rs. 28 LPA.  

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.  

MBA Starting Salary in India- Specialisation wise breakup 

MBA in Finance 

Job Profile

Average Starting salary (in Rs LPA) 

Financial Analyst 

Rs 3.63 LPA 

Corporate Finance 

Rs 6.10 LPA 

Assistant Vice President - Corporate Banking 

Rs 19.26 LPA 

Credit Risk Management 

Rs 11 LPA 

Derivatives Structuring 

Rs 9.25 LPA 

Portfolio Manager 

Rs 11.35 LPA 

Treasury Manager 

Rs 9 LPA 

MBA in Business Analytics 

Job Profile 

Average Starting Salary 

Marketing Analyst 

Rs. 4.87 LPA 

Data Analyst 

Rs. 4.38 LPA 

Marketing Manager 

Rs. 6.85 LPA 

Senior Business Analyst 

Rs. 9.94 LPA 

Order Processing Manager 

Rs. 4.34 LPA 

Business Analyst (Unspecified Type) 

Rs. 5.42 LPA 

MBA in Sales and Marketing 

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

MBA in Human Resources 

Job Profie 

Average Starting Salary 

HR Manager - Talent Acquisition 

Rs 3.5 LPA.  

HR Manager - Training 

Rs 4.6-4.7 LPA. 

HR Manager - Compliance 

Rs 3-4 LPA. 

HR Professor 

Rs 2-3 LPA. 

 MBA in Operation Management 

Job Profile 

Average Starting Salary 

Operations Manager 

Rs 7.8 LPA 

Supply Chain Program Manager 

Rs 8.74 LPA 

General Operations Manager 

Rs 12.24 LPA 

Business Process Managers 

Rs 7.79 LPA 

Technical Operations Manager 

Rs 10.17 LPA 

Area Operations Manager 

Rs 6.02 LPA 

Plant Manager 

Rs 16.68 LPA 

MBA in International Business 

Job Profile 

Average Starting Salary 

Account Manager 

Rs 3.6-6 LPA 

Sales Manager 

Rs 4.80-12 LPA 

Business Development Manager 

Rs 4-8 LPA 

Marketing Manager 

Rs 3.6-10 LPA 

MBA in Management Consulting 

Job Profile

Average Starting Salary 

Strategy Consulting 

Rs. 13.53 LPA 

IT/Technology Consulting 

Rs. 9.79 LPA 

Operations Consulting 

Rs. 6 LPA 

HR Consulting 

Rs. 5 LPA 

Marketing & Sales Consulting 

Rs. 3 LPA 

Top jobs 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,

  1. 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.
  2. Information system management: The ideal candidate is required to provide a thorough cost analysis for the right technology to be used in managerial departments.
  3. Data analytics: These professionals make sense of the big data in different sectors such as retail, banking and e-commerce management.
  4. Entrepreneurship: This stream equips the candidate to start their own business and be the head of their own start-ups.

MBA placements

The best part of joining an MBA program in a top business school is that the students are get placed in top-notch organizations when they are still in the final year of their course. Placements for the year 2021 have already been completed or are in their final stage of completion in the MBA institutes. IIM Placements got over by February/March 2021.

The placements trends so far indicated that the MBA and PGDM placement trends for the year 2021 has surpassed the records amid the COVID-19 pandemic. There is a rising trend in the final year placements and the summer placements for the 2019-21 batch is over for the top MBA institutes with the higher median package.  

MBA starting salary in India 2019-2021 and top recruiters are discussed in the table below.

Name of the Institute

Highest placement package (per annum)

Average placement package (per annum)

Top Recruiters

IIM Ahmedabad

Rs 55.88 LPA (Domestic)

Rs 1.32 CPA (International)

Rs 26.13 LPA (Domestic)

Rs 61.76 LPA (International)

McKinsey & Company, Boston Consulting Group, MasterCard, Avendus, JP Morgan, AB InBev, Airtel, CK Birla, TCS

IIM Bangalore

-

Rs 28.98 Lakh

Amazon, Accenture Strategy, Bain & Company, The Boston Consulting Group, Kaerney, McKinsey & Company, Goldman Sachs

IIM Calcutta

Rs. 80 Lakh

Rs 27.8 Lakh

McKinsey & Company, Gartner, Accenture Strategy, Bain & Company, BCG, Uber, Kearney, PayTM, FinIQ, Goldman Sachs, Microsoft, ICICI Bank, Amazon, Deloitte, P&G

XLRI Jamshedpur

Over Rs 50 Lakh (Domestic)

Rs. 58.5 Lakh (International)

Rs 25.08 Lakh

AT Kearney, ABB, Rabo Bank, Nestle India Limited, Bloomberg, Cadbury India Limited, Tata Administrative Service, Sapient Inc, Olam International, Deloitte, Unit Trust of India

SPJIMR Mumbai

Rs. 46.45 Lakh

Rs 26.06 Lakh

McKinsey & Company, PwC, EY, Goldman Sachs, Citi, American Express, Asian Paints, Hindustan Unilever, Uber, PayTM, Amazon, Cloudtail, Johnson & Johnson, Mahindra & Mahindra

IIM Kozhikode

Rs 46.88 Lakh

Rs 22.98 Lakh (Women Students)

Amazon, American Express, ACT, Accenture Strategy, Asian Paints, Axis Bank, Bain & Company, Hero, HDFC Bank, Google, Enphase, Cognizant, Bajaj, Bank of America

IMI Delhi

Rs 29.75 Lakh

Rs 12.77 Lakh

Accenture, Airtel, American Express, Aakash Institute, Arcesium, Anand Group, Aon, ADP Consulting, Birlasoft, Blue Star, Axis Bank, AlmaConnect, BYJU's, Dare2Compete

NMIMS Mumbai

Rs 38.57 Lakh

Rs 18.33 Lakh

Aditya Birla, Apollo, Asian Paints, Britannia, Casio, Dabur, D'Decor, ITC, Johnson & Johnson, L'Oreal, Lowe's, Marico, Mars, Metro, Pidilite, Raymond 

IIFT Delhi

Rs 46.45 Lakh (Domestic)

Rs. 75 Lakh (International)

Rs 21.08 Lakh (Domestic)

 

Bajaj, Cognizant, Birlasoft, Blazeclan, Boston Scientific, bod, Capegemini, Citi Bank, Cremica, Dabur, Federal Bank, IBM, Delhivery, Dell, Epik, ETG, Cvent, JSW, L'Oreal

High Demand for Consulting Graduates in 2021:

It has been noticed that highest per cent of the responding organizations wish to place the graduates from the business schools in 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 2021 in India

The Indian scenario is overwhelming as far as the starting salaries of MBA graduates is concerned. The MBA starting salary for the year 2021 is Rs 22 lakh 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 is as follows.

Name of the Institution

MBA starting salary in 2021 (per annum)

IIM Calcutta

Rs 24.2 Lakh

FMS Delhi

Rs 21.1 Lakh

MDI Gurgaon

Rs 19.17 Lakh

XLRI Jamshedpur

Rs. 20.1 Lakh

SPJIMR Mumbai

Rs 22.1 Lakh

JBIMS Mumbai

Rs 18.91 Lakh

IIM Indore

Rs 18.34 Lakh

IIFT Delhi

Rs 18.27 Lakh

IIM Shillong

Rs 15.5 Lakh

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?

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.

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About the Author
Shruti Garg
Senior Executive

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

(7)

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

a year ago

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

Reply to Tarun

s

saibal Roy

a year 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

R

Rocky Rocky

a year ago

How much salary will get for fresher,without any job experience after doing ng mba in IIMS

Reply to Rocky Rocky

Upcoming MBA Exam Dates

27 May '22: Last date of application
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25 May '22 - 28 May '22: MAT 2022 Admit Card Download: CBT and PBT (2)
26 May '22 - 28 May '22: HPU MAT 2022 Application Form Correction
4 May '22 - 15 Jun '22: IIHMR-U MAT Registration Deadline (Round-4)

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