What is an MBA?
A master’s degree in business administration, or MBA, is an academic credential provided by B-schools. It normally takes two years to finish this advanced degree. Possessing critical commercial and management abilities including research, long-term planning, and leadership are demonstrated by holding an MBA. Students in an MBA program often take classes in marketing, economics, and accounting, and they also have the option to focus on a particular area of business. Top MBA Specialization in India are:
- Finance
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Business Analytics
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Business management
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Marketing management
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Logistics management
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Operations management
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Human resource management
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Healthcare management
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Rural management
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Event management
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Information technology
One of the main advantages of this degree is that it frequently leads to better compensation since companies think those with an MBA have a wider variety of critical business knowledge and skills. For instance, a finance analyst with an MBA often makes a lot more money than a finance analyst with a business administration bachelor’s degree (BBA). However, bear in mind that other criteria, such as your expertise and the business school you attended, may also affect your specific compensation.
Also read: What is the difference between MBA and PGDM? 2023
Factors to be considered before taking up a job after MBA
One must be aware of the elements that need to be taken into account when looking into jobs to apply for once they have earned their MBA.
- Organization: The organization is crucial to the advancement of your career. It is a good idea to examine the potential for professional advancement, the organization’s future objectives, the type of job done in the particular organization, as well as the success and failure of the business as reported by many sources.
- Job profile: It takes time to find the proper work profile, so job seekers must be patient and resist the urge to accept the first opportunity that presents itself. The correct work profile will aid in future career advancement in the business world.
- Salaries and Benefits: One important aspect that must be taken into account is salary. Before signing the contract or accepting the job offer, one must make sure they are being fairly compensated for their skills and abilities. A bonus is also provided if the position includes performance-based incentive compensation.
- Working hours: A job that respects your personal space must be chosen if you value work-life balance in your life. Make sure the company you’re joining doesn’t make its employees work unnaturally long hours or interfere with their personal lives.
- Job Location: Not least among these effects is the location of the employment. In order to guarantee that you have a tranquil personal environment while working, one must consider factors like the cost of living, transportation, accessibility to vital services, etc. You’re fortunate if you work in your hometown.
Popular Cities offering the best jobs after MBA
The city in which we choose to work plays a major role in our professional life. The cities that offer the best opportunities for an MBA graduate are:
- Gurgaon, Haryana
- Bangalore, Karnataka
- Delhi
- Pune, Maharashtra
- Mumbai, Maharashtra
- Chennai, Tamil Nadu
Here are the Top 5 High paying Jobs after doing MBA in India
1. Investment banker
National average salary: ₹42,090 per month (From source)
Investment bankers’ main responsibilities are the financial operations connected to investment endeavors. In addition to aiding customers with mergers and acquisitions, their responsibilities also include raising financing, selling shares in businesses, and providing advice on investment options like derivatives.
2. Project manager
National average salary: ₹46,339 per month (From source)
A project manager’s main responsibilities include managing one or more business projects. For instance, a project manager in the building sector may be in charge of overseeing the construction of a housing development or another type of building. They oversee deadlines, scheduling, and quality assurance. Additionally, they are in charge of making sure that supplies and materials are available and sufficient, as well as reporting on progress to stakeholders on a regular basis.
3. Finance manager
National average salary: ₹49,231 per month (From source)
A financial manager’s key responsibilities include overseeing a company’s finances and ensuring that it stays profitable. They are frequently in charge of formulating the organization’s financial objectives and plans, offering leaders advice on how to increase revenues, and creating reports to educate stakeholders about the company’s financial situation.
4. Chief technology officer
National average salary: ₹70,568 per month (From source)
Primary responsibilities: A chief technology officer (CTO) is a senior executive in charge of a company’s technical requirements and issues. Making choices on the use of technology in the workplace is their main responsibility. Their additional responsibilities include identifying technologies that might benefit the business, choosing new technologies to apply, developing tech platform strategies, employing personnel to supervise and handle technical difficulties, and developing tech-related protocols for employees to adhere to.
5. Chief financial officer
National average salary: ₹72,868 per month (From source)
Principal responsibilities: A chief financial officer (CFO) is a senior executive in charge of a company’s long-term financial objectives. Together with other senior managers, they do predictions or benefits analysis, make sure that financial reporting is correct and timely, and seek funding from investors. CFOs with MBAs in accounting or finance are common.