Top 5 Business Management Jobs in India in 2024

Top 5 Business Management Jobs in India in 2024

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Syed Aquib Ur
Syed Aquib Ur Rahman
Assistant Manager
Updated on Dec 15, 2023 20:02 IST

Curious about the hottest business management jobs in 2024? Dive into the top roles like Business Manager, Market Research Analyst, and more. Discover the skills needed, salary insights, and sought-after certifications to steer your career. Uncover pathways to success in this dynamic and rewarding field!

business management jobs

 

Today, you will find out the top 10 business management jobs in 2024. The blog will highlight the highest-paid designations across different disciplines in management. You will also come to know which courses, certifications, and business management degrees will help your career journey. 

  1. Business Manager
  2. Market Research Analyst
  3. Business Analyst
  4. Human Resources Manager
  5. Finance Manager

Business Manager

The role of a business manager depends on the size of a company. Mostly, in larger organisations, a business manager oversees one department. But in some small to medium size companies, they may be required to handle all departments. 

Overall, business managers handle the operations of a company. They also follow leadership principles as well as help employees improve productivity. Business managers also implement and troubleshoot business strategies in a company.   

Business managers can also specialise in relevant domains such as 

  1. Sales
  2. Marketing 
  3. Finance
  4. IT

Salary of a Business Manager

The salary of a Business Manager ranges from ₹ 2.8 Lakhs to ₹ 26.0 Lakhs. The average annual salary is ₹ 7 Lakhs. 

Job Outlook For Business Managers in India & World

Business managers have a grounding in essential business-related backgrounds. In India, a business management degree opens up various job opportunities including data analysts, forensic accountants, etc

And today, a variety of global companies are also creating a demand for this role in this year. Some are IBM, L&T Financial Services, HCL Technologies, Bharti Airtel, etc. 

Number of Jobs & Segments for Business Managers  in India

There are 25,061 job vacancies for business managers in India, as per Naukri. See the top industries hiring business managers below. 

  1. Sales and Business Development – 21398
  2. Marketing and Communication – 335
  3. Strategic and Top Management – 310

Top Certifications For Business Managers

Check out the best courses to become a business manager below. 

  1. IIM Lucknow – Executive Program in Business Management on Talent Edge | Duration: 9 months | Level: Intermediate with 8 years of working experience

Course USPs

  1. This is an executive program from IIM Lucknow that offers Executive Alumni status upon completion
  2. This certification course is ideal for mid-level managers. The top skills covered in the certification course are people management, analytical thinking, leadership, time management, etc. 
  3. Develop technical knowledge of marketing management, financial management, data analytics, etc
  4. Participate in an included Capstone project
  1. IIM Nagpur – Post Graduate Certificate Programme In Business Management For IT Professionals on Jaro | Duration: 1 year | Level: Intermediate with 2 years of working experience

Course USPs

  1. Learn from the latest case studies, participate in group projects, etc
  2. Learn about the latest management trends in the IT industry. Develop strategy and leadership skills along with understanding trending areas including digital transformation, project management, global workforce culture, business ethics, etc
  3. Participate in Capstone Business Simulation (CBS) in a group, from practicing leadership to implementing a strategy for an organisation 

Market Research Analyst

Market research analysts gather data to understand the competition and customers in the current market. The professional has to use data to predict future outcomes, such as unexplored trends in sales and/or customer behaviour. 

Market research analysts use quantitative and qualitative research methods and know how to conduct primary and secondary research. They also need to be able to use data visualisation tools to communicate with stakeholders. 

Do read more on marketing research

These professionals help the marketing team in a company create a marketing mix and plan out marketing campaigns and content strategies. 

Salary of a Market Research Analyst 

According to AmbitionBox, the average annual salary of a Market Research Analyst ranges from ₹ 1.7 Lakhs to ₹ 8.0 Lakhs. The average annual salary is ₹ 3.5 Lakhs.

Job Outlook For Market Research Analysts in India & World

According to Statista, the global market research industry went beyond USD 76.4 million in 2021. It is expected to reach $82.62 billion in 2024 according to ReportLinker. The reason for this fast growth is that businesses have been recovering from the pandemic. 

This has resulted in operational changes across the world. Another reason why market research analysts are in demand is the recovering economic growth in countries like India since the pandemic. 

Number of Jobs & Segments for Market Research Analysts in India

As per Naukri, there are 18236 job vacancies for Market Research Analysts in India. 

On Naukri, Market Research Analysts are in demand in the following sectors. Compare the number of job vacancies for this role in each sector. 

  1. Data Science & Analytics – 6365
  2. Engineering – Software & QA – 4225
  3. Sales and Business – 1545
  4. Marketing & Communication – 634
  5. Customer Success, Service & Operations – 521

Top Certifications for Market Research Analysts

Some of the top courses that you can take to get a job as a Market Research Analyst are

  1. Quantitative Marketing Research on edX | Duration: 5 weeks | Level: Beginner | Certification

Course USPs

  1. Learn how to design and implement quantitative market research projects
  2. Apply cluster analysis (a data mining tactic) to segment customers
  3. Use the Van Westendorp’s Price Sensitivity Model to estimate the customer’s ‘willingness to pay’
  1. Market Research Specialization on Coursera | Duration: 4 months | Level: Beginner | Certification

Course USPs

  1. The specialisation contains four courses. Research Proposal: Initiating Research, Qualitative Research, Quantitative Research, and Research Reports: Delivering Insights are separate courses. But you can take all four together. You can also take them up as individual certifications.
  2. Get introduced to the important tools for market research such as Qualtrics
  3. Learn about the practical differences between qualitative and quantitative market research methods
  4. Use multiple qualitative methods and learn how to analyse collected data
  5. Use statistical models that will together help you create an accurate marketing mix
  6. Create a marketing presentation and learn the art of storytelling so that all stakeholders can understand 

Business Analyst

By utilising complex information, business analysts are able to recommend necessary changes within organisations. These professionals must be able to communicate changes clearly with clients and teams. 

Salary of a Business Analyst

As per AmbitionBox, the annual salary range of a business analyst is between ₹ 3.0 Lakhs and ₹ 15.0 Lakhs. The average annual salary is ₹ 7.0 Lakhs. 

Job Outlook for Business Analysts in India & World

Business analysts have a high demand everywhere. In India, the profession is estimated to grow at a CAGR of 14.3% by 2026 (Jaro Education). 

And according to the Bureau of Labor Statistics, the demand for management analysts is growing by 11% between 2019 and 2029. This stat shows that the demand is much higher than in other occupations. Likewise, the competition is also growing.

Number of Jobs & Segments for Business Analysts in India

There are 14537 job vacancies for business analysts in India, according to Naukri. Have a look at the different sectors where they are heavily in demand.

  1. Data Science & Analytics – 6318
  2. Engineering – Software & QA – 4060
  3. IT & Information Security – 469
  4. Sales & Business development – 465

Top Certifications for Business Analysts

  1. Business Analysis Masterclass on Udemy | Duration: 32 hours | Level: All levels | Certification

Course USPs

  1. Learn about System Development Lifecycle and its phases – inception, design, implementation, etc
  2. Learn about the Agile Scrum process along with important software engineering processes that include Waterfall model, etc
  3. Create wireframes and learn how to create functional and non-functional documents
  4. Get hands-on experience with various business analysis tools such as Microsoft Visio, Jira, etc
  5. Participate in a Business Interview simulation
  1. Certified Business Analysis Professional Certification on Simplilearn | Duration: 9 hours | Level: Intermediate | Certification

Course USPs

  1. This certification will let you earn 13% more than those who do not have it. This stat is according to the International Institute of Business Analysis (IIBA)
  2. There are three simulation exams along with four practice tests.  
  3. You will be learning from the BABOK (Business Analysis Body of Knowledge) guide, 3rd version
  4. Learn with 11 different case studies with each chapter to gain practical familiarity
  5. With this business analysis course, you will earn 35 IIBA PDs (Professional Development hours)

After completing any of these courses, do check out the Business analyst interview questions and answers

Human Resources Manager

HR management is vital for an organisation’s growth and to maintain a positive culture. HR managers are involved in various recruitment-related activities such as employee relations, training and development,  etc.  Some managerial roles involve planning budgets, performance reviews, and creating talent acquisition strategies. 

Salary of a Human Resources Manager in India

As per AmbitionBox, the average annual salary of an HR manager is ₹ 6.8 LPA. Depending on experience, the annual salary range is from ₹ 3 Lakhs to ₹ 18 Lakhs. 

Job Outlook For HR Managers in India & World

HR managers have had more responsibilities since the pandemic. With the hybrid workforce, these professionals have to learn to support employee well-being remotely. This is to retain talents and reduce employee turnover. 

Another trend that HR managers have to look forward to is helping employees in professional development. This is with regard to the implementation of digitisation through cloud-based systems and others. 

HR Managers today get paid more based on the evolving set of skills they have. Those with sourcing skills get more salary, according to upGrad. 

Number of Jobs & Segments For HR Managers in India

As per Naukri, there are nearly 13000 jobs for HR managers in India. Have a look at the top departments that need HR managers. 

  1. Human resources – 8852
  2. Sales and Business Development – 1368
  3. Product, Manufacturing & Engineering – 372

Top Certifications for HR Managers 

  1. IIM Kozhikode – Professional Certificate Programme in HR Management and Analytics on upGrad | Duration: 5 months | Level: Intermediate

Course USPs

  1. It is ideal for mid-level to senior-level managers in human resources. 
  2. Learn about the recent technological trends that are shaping the new workforce
  3. Get to learn about the fundamentals of people analytics, statistics, etc
  4. Get hands-on experience with different tools for data visualization such as Tableau and MS Excel. These tools will be important for building KPI dashboards.
  5. Take out Employee Engagement Surveys
  6. Learn how to use Predictive Analysis for employee well-being
  7. Get a certificate from IIM Kozhikode
  1. IIM Raipur – Executive Certificate Program in Human Resource Management on Talent Edge | Duration: 12 months | Level: Intermediate

Course USPs

  1. The course focuses on global HR management standards including legal frameworks, talent management, etc
  2. Learn how you can become an HR partner and play a strategic role in an organisation’s growth
  3. Learn from the faculty of IIM Raipur and get Executive IIM Raipur Alumni status with this post-graduate certification

Finance Manager

Financial management is involved in covering the five functions of management (planning, organising, directing, and controlling) for all the financial activities of an organisation. 

Financial managers coordinate with the accounting team to analyse and create financial reports. They also have to give importance to regulations and policies. 

Salary of a Finance Manager

The annual salary of a finance manager ranges from ₹ 3.5 Lakhs to ₹ 30.0 Lakhs according to AmbitionBox. 

Job Outlook for Finance Managers in India & World

According to U.S. News, the finance manager role is the second-best business job in the United States. 

And as per Naukri, finance managers are in high demand across sectors such as Insurance, Recruitment, Auditing, Automobile, Education, etc. All these industries alone have 300 to 4000 job openings on the website. 

Number of Jobs & Segments for Finance Managers 

There are over 20,000 finance manager job vacancies on Naukri. You can further check the departments they are needed for, below. 

  1. Investing & Trading – 5535
  2. Finance & Accounting – 5528
  3. Sales & Business Development – 3730
  4. Customer Success, Service & Operations – 1314

Top Certifications for Finance Managers

  1. MBA (Distance) Banking and Finance Management on NMIMS | Duration: 24 months | Level: All Levels

Course USPs

  1. It comes with Open and Distance Learning Mode and Blended Learning modes
  2. Learn about analysing financial management best practices
  3. The programme covers related topics to finance, including marketing, operations management, etc
  4. You will be able to be a financial decision-maker as you will learn to analyse business data and provide meaningful insights
  5. You will be able to apply leadership skills
  1. Financial Management Specialization on Coursera | Duration: 8 months | Level: Intermediate

Course USPs

  1. This specialisation covers seven courses. They are Foundations, Advanced Topics, Fundamentals of Performance Evaluation, Lessons and Applications for Investors, Measuring and Promoting Value Creation, Financing Investments and Managing Risk, and Finance Capstone. 
  2. With this specialisation from Coursera, you will be learning the most essential concepts. Capital Asset Pricing Model, effects of risk and valuation, etc. are some topics that you will get to learn in-depth. 
  3. The capstone project will let you develop a financial management plan for a global company. Students can choose their own geographical location for this company. 
  4. You can further do the extended iMBA course after this specialisation. It is offered by the University of Illinois. 

Parting Thoughts

These are the top 5 business management jobs that are in high demand this year in India. Hope you are able to find your area of management specialisation from here. 

FAQs

Do I need a bachelor's degree for all the post-graduate courses in business management?

For most post-graduate programmes, you will need a bachelor's degree. For some executive programmes that are offered by IIMs you may also require work experience.

Which are other business management jobs that are in high demand in India?

There are quite a few. Operations Research Analyst, Marketing Manager, etc are highly paid careers too.

Why should I go for MBA or post-graduate degree for business management jobs?

These degrees and focused specialisations are necessary for finding jobs in these high-paying positions. Have a look at the course USPs as mentioned above. And do compare with regular certifications. You will find that the executive business degrees, specialisations, and post-graduate programmes cover more depth both in terms of learning and hands-on projects.

What are the essential skills required to excel in business management jobs?

To succeed in business management roles, several key skills are invaluable. These include strong leadership abilities, effective communication, strategic thinking, problem-solving, decision-making, adaptability, and a good understanding of financial principles. Additionally, proficiency in data analysis, project management, and a keen sense of market trends can significantly enhance a candidate's prospects in business management positions. Employers often seek individuals who demonstrate a combination of these skills, alongside a proactive approach towards team management and business development.

How can one gain relevant experience for business management roles while studying or transitioning from another field?

Gaining experience for business management roles can be approached through various avenues. Internships, part-time roles, or volunteering in organisations provide practical exposure. Additionally, participating in business-related clubs or societies at university, taking on leadership roles in projects or group assignments, and seeking mentorship or networking opportunities within the industry can contribute to relevant experience. Transitioning from another field may involve pursuing certifications, short-term courses, or specialised training programmes focusing on business administration, finance, marketing, or relevant management disciplines to bridge the knowledge gap and showcase commitment to the new career path.

About the Author
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Syed Aquib Ur Rahman
Assistant Manager

Aquib is a seasoned wordsmith, having penned countless blogs for Indian and international brands. These days, he's all about digital marketing and core management subjects - not to mention his unwavering commitment ... Read Full Bio