In 1991 when economic liberalization hit India, the businesses started to get inspired by western countries. So a new breed named ‘Executive’ came into the market. All the private sector companies became keen to come out from the traditional Indian business mindset and be professional corporate. For this makeover, the businesses and new companies needed management graduates. All well-known brands like TATA, Wipro, and many others are among the best companies for MBA graduates in India.
With MNCs’ arrival, suddenly, the demand for MBA graduates in India increased in every sector. All private companies are willing to pay in dollars to this new breed from IIMs and other big institutes. Since then, the MBA has become the most sought-after choice of career. To fulfil this new breed’s demand in all the industries, many new institutes and universities introduced MBA courses.
Now the situation has taken a U-turn. Earlier, the MBA pass outs used to have various job options to choose from, but now the MBA pass outs have to put effort into getting one job. The campus selection is still the easiest and best way to get a job, but no all the MBAs are lucky enough to get a job in these selections. In 2016-17 less than half of the students could grab a job in campus selection. So, yes, we have to agree that it is not that easy to get some of the highest paying jobs after MBA.
When thousands of MBA colleges are available in country and lakhs of students get education in these colleges the students will have to be proactive in their search for a job. Here we have compiled some information about the industries that keen to hire MBA professionals. First, let us understand why the MBA is so popular that every 3rd student wants to get admission to this degree course.
Let’s know more about it
- Why is MBA so popular?
- Payouts For MBA Graduates in Different Specialization
- Top 10 Industries to Work after MBA in India
- Location of Best Companies for MBA Graduates in India
Why is MBA so Popular?
MBA is one of the Brightest Career-Oriented and Most Preferable Education Program Enrolled by the students worldwide. The demand for an MBA in India has been constant in the past few years. As more investment will come to a different type of industry, the more job opportunities will generate. Every business needs professional and well-minded MBA graduates to generate a more powerful economy across the region. Some of the best companies for MBA graduates are available in India; hence despite a lower curved in the demand of MBA graduates, the popularity of MBA is still high.
Over the past many years, students are more focusing on management studies. A different horizon is built across the management and related to its technologies, as per today’s fact most of the bachelorette holders are selecting masters courses on management studies after different courses.
If a student wants to get the best understanding of how business” key functions work and managed, then get admission to MBA. Many institutes offer MBA degrees with different specialized courses and focus. Some of those specializations include financial terminology, Taxonomy, accounting, CRM management, and marketing. Let’s dig out the information about different specialization and payouts.
Payouts For MBA Graduates in Different Specialization
· MBA – Finance
If a student finished his or her MBA graduation with a finance specialization, he could pick from multiple companies. Some of those companies are corporate banking, credit risk management, corporate finance, asset management, private equity, hedge fund management, sales and trading, and treasury.
All of these companies instantiate an average salary of 678,000 INR to MBA finance graduates. This salary will increase in terms of Skills like expertise, knowledge, and experience.
· MBA – Business Analytics
As per the Various sectors like Healthcare, Banking, E-Commerce, and Different Industries, there is more focus on Business Analytical growth or depends on the Business analytical Boost approach through customer’s interest. You can find the best position there.
· MBA – Marketing
Marketing is one of the largest and booming industries worldwide because it is a key factor for any leading companies to grow their audience and boost their sales to generate the highest revenue in the market.
An Average Salary of a Marketing guy is 7,52,000 INR, based on specialized profiles like competitive marketing, Analytical Marketing, Online Marketing, etc.
· MBA – Resource Management
This Job Profile includes Operations as an HR Manager in the following firms, like IT Firms, Law Firms, newspapers, Media companies, etc. to handle their talent acquisitions, business accounting, and payrolls. An average salary in this field is around 6,03,000 INR.
· MBA – Operation Management
Best companies for MBA in Operation Management Specialization include transportation and logistics like industries to grow on that field with an average salary of 8,00,000 INR.
Top 10 Industries to Work after MBA in India
Below is the most awaited part of this article. Let’s check out the top industries that take the MBA graduates and also offer them good salaries;
The pandemic has affected all the sectors, and economies of all the countries worldwide are either crashed down or facing a slope. In these difficult situations, it is not easy for any company to keep the recruitment process. But FMCG (Fast Moving Consumer Goods) managed to work well during this tough time.
FMCG is the 4th largest sector in India’s economy and still growing. Here jobs for MBA graduates are available in all supporting departments from marketing to HR as the FMCG sector prepared packaged food items, so supply chain management plays an important role in running the business smoothly. So here MBA graduated with a specialization in supply chain management or logistics can also apply.
Another sector where MBA pass outs are always in demand in banking. Not only in India but all over the world the MBA graduates with specialization in finance are hired by the banks. India has many private banks that hire B school students and offer them a handsome salary and other benefits. The recruitment of MBA graduates in banks was slightly low in 2009 and 2010 when the world witnessed the recession.
India has recently witnessed the reformation of the banking sector. A few banks merged, and few new banks also started their operations. So the coming time will be better for the banking sector. After the crash in Share Market again, everything is normalizing, and soon we can expect and boom in the hiring process in the banking industry.
3. Manufacturing Industries
Don’t be surprised after reading manufacturing industries here in the list of ideal industries for MBA in India. Traditionally the manufacturing industry is for engineers, but now the recruitment strategies have changed. The recruiter is not approaching the mechanical and other engineers for manufacturing units as much as they used to do. Their main focus has become to take MBA pass outs on board.
Manufacturing units are not like fancy corporate offices, and their working process is also different. Now, these units are trying to be more techno-savvyand arranged. To maintain the supply chain, logistics, Administration, etc., the manufacturing units need MBA graduates.
4. IT Sector
Another surprise for the fresh MBA graduates is that IT Sector is among the best industries for them. IT sector is an ideal industry for B. Tech (CS) and MCA pass-outs. Like all other industries, it also needs people to manage it. IT sector always has a demand for MBA pass outs. The sector welcomes both the fresher and experienced MBAs as a project manager and team manager. An ideal combination to join the IT sector on a managerial post is a UG course in the technical field and then MBA.
5. Health Care
Indian is doing well in the health and pharmaceutical industry. After the spread of COVID-19, India has come out as a global leader. Earlier, India’s health care will witness 20% growth in 2020 but now the expectation is high with this sector. In hospitals, pharmaceuticals are part of the health care industry in India. In this industry, the MBA pass outs are required to take care of marketing, HR, Training, and administration department.
6. Retail Management
If we look at the data before the rise of the epidemic, then retail management holds a higher position in the best companies for MBA graduates in India. Still, this sector is also suffering from the effects of coronavirus. India has the potentials for retail management. The present companies are earning good profit, and still, the market is open to more companies.
According to data from National Skill Development Corporation released in 2014-15, the retail sector will have 1.7 crores vacancies in the coming years as India’s population is growing, so the job chances are high in retail management. In this sector, the MBA pass outs with specialization in marketing are most in demand. MBA graduates are always preferred to take care of logistics and other supporting operations like Administration,
Most companies prefer to take services from consultants to hire people for regular or seasonal jobs. In case any company needs temporary staff, then it’s better to take services from the consultants. The hired people work for the company but on the payroll of the consultant.
Apart from taking staffing services from any consultant, the companies can also outsource their HR services to the consultants if they have less headcount. This sector welcomes MBA graduates from all specializations depends on the nature of consultancy.
Though E-commerce is a part of the retail industry, it has established itself as another sector. Most users prefer to use this platform for shopping for their basic to special needs. Various big and small entrepreneurs are connected with this sector now. Shortly the value of E-commerce companies will go up though it also depends on its products.
E-commerce is popular as they have a wide range of products at competitive rates. In its initial stage, online shopping was a trendy and fashionable thing only afforded by people from metro cities. But now all the big and small e-commerce websites have reached the small villages of the country too. Shortly, the customer base of these websites will increase only.
If talk about the opportunities, then MBA graduates are required in the HR, Management, Planning and Strategies, Marketing, and Finance department. As the competition is high in this sector, job seekers also get good salaries.
9. Consumer Durables
Companies like Bajaj, Blue Star, IFB, and similar falls in the category of consumer durables. The jobs in this sector are constant for MBA pass outs. MBAs are neither high in demand, nor are they ignorant here. The companies need MBA graduated for marketing, process creation, maintaining other supporting departments like HR, Admin, and Accounts.
Many institutes offer MBA in Automobile and international Business. The MBA pass outs are required to manage an automobile dealership. They learn how to manage the dealership at different levels. Not every student has this course, so it’s less popular. After completingan Automobile MBA, the students can be sales managers, Marketing Head, Delivery Manager, Showroom Manager, and can join many other departments at automobile dealers.
Location of Best Companies for MBA Graduates in India
The following are the names of cities where the demand for MBA graduates in India is always high.
MBA pass-outs can also choose to be an entrepreneur. As career-oriented opportunities go, nothing is quite as exciting as the luxurious life of an entrepreneur. India is a buzzing high of startup activity and is recognized as the forefront of new market opportunities. We are one of the world’s largest democracies, our economy is one of the fastest-growing worldwide, and our income levels are rising. India also poses a unique challenge. You have the opportunities to scale, but at the same time, people don’t have much will power. Also, there are many who are confused about finding the right career when planning for postgrad degrees, but with the changing time many sources are available to them, now career counselling for the postgraduate student is available online.
Here we conclude that all the top-notch industries that are situated in India are following different recruitment approach for finding the best minds from MBA Graduates and also working on Major skill level to cover up whole market gain approach and providing the facility of risk and operation management with business analytics exposure with Information technology and Training solution also. So you need to set your own goal with your desired capabilities to thrive on Management skills and get your best job with higher payoffs that gives you a better life and Market Knowledge and growth for your marketing portfolio.