As you might know, MBA is Masters in Business Administration and PGDM is Post Graduate Diploma in Management. Both these qualifications are important for filling up countless job vacancies available across different organizations. Although, mostly about business and management, MBA and PGDM are not limited to those categories. There are certain best careers for MBA/PGDM graduates which you might not have been aware of before. Therefore, in this article, we have compiled a list of the 7 best careers for MBA/PGDM students. We have discussed the 7 different positions, their respective job roles and responsibilities, and also mentioned their respective salary ranges.
So, without any delay, let us get to know the list of careers.
List of Careers For MBA and PGDM Graduates
Human Resource Manager
Who is an HR manager?
A Human Resource Manager is an expert who looks after the management of the HR Department. A HR Manager is on the third level of the HR career hierarchy. The HR job roles below HR Manager include Entry-level HRs and individual contributors like HR recruiter, HR Analyst, HR Coordinator etc.
The HR job positions above HR Manager are HR Director, HR Vice President, and CHRO. The Chief Human Resource Officer (CHRO) is the topmost HR leader who often reports to the CEO.
Job Roles and Responsibilities of an HR manager
- Interviewing candidates for the specific job-role and hiring them.
- Managing employer-employee relations
- Implementation and fostering of workplace culture
- Managing employee motivation, performance and and wellness
- Creating Training and Development Programs
- Collaboration with other departments
- Handling disciplinary actions
- Some other HR manager jobs include Training Manager, Payroll Manager, HR Project Manager, HR Safety Manager etc.
- Annual income in India for freshers: 7 lakhs
- Annual income in India for experienced: 20 lakhs
Who is a Business Consultant?
A business consultant is a person who has ample expertise in a particular field. He must have a wider knowledge of the many facets of market forces and business. It is their responsibility to provide help to clients seeking insights and recommendations on their goals.
Some of the different fields that a business consultant can gain expertise on are as follows:
- Human Resources
- Financial control
- Exit Planning
Job Roles and Responsibilities of a Business Consultant
- Organizing and executing business projects as per the client’s requirements
- Meeting clients and finding solutions to problems
- Collecting important information about the client’s business by conducting interviews, taking surveys, reading reports etc.
- Finding solutions to problems
- Providing recommendations to boost business profitability and efficiency
- Ensuring client’s long-term success
- Comprehending causes behind data flaws and providing practical advice
- The average annual income for a business consultant in India is Rs 11.5 lakhs
Who is An Investment Banker?
An Investment Banker is a financial professional who helps in raising capital for corporations, bigger agencies, governments and other entities. It is one among the best careers for MBA finance students.
Job Roles and Responsibilities of an Investment Banker
- Expert in processing numerical data and organizing them into the right format.
- Issuing securities, bonds for capital raise
- Conducting research to execute capital deals
- Analyzing and closing financial deals
- Facilitate mergers and acquisitions
- Dedicated and able to work for long hours
- Strong verbal and written communication skills
- Provide financial advice and calculate risks
- Preparing reports, forecasts and models
- Annual income in India for freshers: 3 lakhs
- Annual income in India for experienced: 9 lakhs
Who is a Hotel Manager?
Hotel Manager is a professional who is responsible for overseeing and managing hotel staff and it’s operations. Hotel Management is one of the best MBA careers and a PGDM graduate can also opt for this job role.
Job Roles and Responsibilities of a Hotel Manager
- Managing accounting, monitoring budgets, sales, business development
- Providing customer service and satisfaction
- Devising marketing strategies to promote hotel’s amenities and services
- Coordinating with travel agencies, suppliers etc
- Evaluation of hotel performance
- Excellent communication and interpersonal skills
- The average annual income in India for the job position of an experienced Hotel Manager is Rs 8 lakhs while that of a newbie is Rs 0.2 lakh
Who is an Entrepreneur?
Anyone with a start-up can be called an entrepreneur. Also, an individual undertaking a risky business venture is called an entrepreneur. It is one of the MBA careers that is risky because the outcome of the business is normally unpredictable.
Your business might fall into one of the four categories: small businesses, scalable startups, large organizations, and social entrepreneurship. There are examples of many MBA graduates who have started their business from scratch and taken it to great heights.
Job Roles and Responsibilities of an Entrepreneur
- Leading business activities
- Identifying business opportunities
- Facing business challenges and overcoming them
- Allocating duties of employees
- Promote online and offline business through social networking, website building, flyers etc.
- Collaborating with other businesses
- Forecasting business trends
- Minimizing business risks
- The annual salary of an entrepreneur in India ranges between Rs 1 lakh to Rs 28 lakhs, making the average amount equal to Rs 6 lakhs
Who is a Marketing Manager?
A marketing manager advertises about a company, brand, product or service. It is about developing customer interest in the brand and convincing them that it is a good and useful one. To keep the product selling, the Marketing Manager also launches campaigns to raise awareness about the item.
Job Roles and Responsibilities of a Marketing Manager
- Designing and evaluating marketing campaigns
- Promoting product via different channels
- Collaboration with other advertising departments
- Handling budgets
- Formulating advertising contracts and agreements
- Reviewing advertising material to be printed and published
- Managing employees
- Analyzing trends in the market and acting accordingly
- Researching competitors and staying ahead of the competition
- Excellent communication skills
- The average annual salary for a Marketing Manager in India is Rs 7.4 lakhs.
Who is a Business Analyst?
A business analyst is a professional who analyzes current and preceding data in businesses so as to enable them to improve their decision-making capabilities.
Job Roles and Responsibilities of an Operation manager
- Understand business processes and evaluate them for efficiency and results.
- Having useful suggestions for improvement in using new impactful technologies.
- Managing and developing projects plans
- Monitoring performance
- Pricing and reporting
- Helping businesses understand the need for changes so as to meet goals
- The average annual income of a business analyst in India is equal to 8 lakhs.
Did you find your desirable career out of this list of 7 best careers for MBA/PGDM graduates? The job roles and responsibilities will give you an idea of what these careers may demand from you and how you will be able to supply the best for them. Decide your suitable career depending on your salary demand, interest and work on it so that you can be a productive asset for the company you will be working for.
Wishing you luck!