Demanding Career Opportunities After MBA Specialization In India
Demanding Career Opportunities After MBA Specialization In India
Marketing, in the world today, is a booming industry. It has not only been established as a trillion-dollar industry but is the source of uncountable job opportunities. In India, students from various streams have chosen marketing as a Specialization. There are some of the top MBA colleges in Bhopal that students have selected as a result of the booming rise in the field.
The increase in marketing Specialization comes as the wave of entrepreneurship has hit India. Students have shown interest in pursuing a master’s in management and business administration to either start their own business or to get recruited by a well-established company.
Although this has become a frequent phenomenon, most students lack awareness of this Specialization’s vast job opportunities. It specialises not only in business administration or marketing but also in finance, human resource, and many other field prospects.
MBA (Master of Business Administration) is perceived to be a degree that would instantly cause a positive change in your career graph. That is not true. It is a Specialization that does have a significant impact on your job application. However, It doesn’t change the career graph firsthand.
Understanding the opportunities an MBA degree offers should be the basis or a deciding factor.
Based on that, the students should further decide their career path and which Specializations to opt for in the course.
Different Career Opportunities And Specializations In MBA
There are multiple Specializations in MBA from which students can choose as per their interest. However, evaluating and weighing all the options based on different parameters is better before deciding. Below are distinguishably explained options to choose from with their salary prospects.
The foremost choice of most students is marketing when opting for Specializations in MBA. Selecting this option means you have your foot forward for learning the marketing aspect of the business.
Throughout the program, students mainly learn various topics and strategies on sales, brand marketing, marketing channels, consumer behaviour, product management, leadership, management and product research.
There are multiple job opportunities in marketing in the sectors, including competitive marketing, analytical marketing, business marketing, advertising management, product and brand management, customer relationship marketing, and retailing management.
Marketing management professionals earn annually about 3.5 to 18 lacs in India. The salary may increase with experience and can vary between 15 – 40 lakhs annually.
Related Blogs: Campus placements preparation guide for students
Choosing finance as a Specialization in MBA is an evergreen choice that many students prefer. As the financial services industry, the banking and insurance sector has prospects for incredible growth. As a result, students are inclined towards financial management.
There are varied job prospects, including corporate finance, credit risk management, sales and trading, hedge fund management, private equity, asset management, and corporate banking.
Financial management professionals annually earn around 10-15 lakhs in top B-schools. Mid-level professionals earn about 20-30 lakhs per annum, whereas senior management professionals earn higher than 30-50 lakhs per annum.
3. Human Resource Management
MBA in Human Resource Management is considerable for those with great people management and recruitment skills. Although people management skills can be learnt, communication skills come as an additional point.
Their focus is on maximising the efforts and performance of the employees and acquiring the right people with the right skill set for the right job. Every industry requires an HR professional, making it an opportunistic Specialization.
HR professionals’ salary varies from 2.5 lakhs to 8 lakhs annually who are graduated from some of the top MBA colleges in Bhopal. Mid-level positions earn about 10-18 lakhs annually, whereas senior-level positions make around 25 -40 lakhs per annum.
4. Business Analytics
Business analytics is an excellent Specialization for those well-versed in using analytical approaches and strategies to build a business. The program uses multiple analytical tools to gather and analyse data to gain insights into market trends, operations, decision-making, and consumer behaviour.
The moderate salary of a business analyst in India is around 11 lakhs per annum. Freshers earn around rupees 5-8 lakhs per annum, whereas senior-level professionals earn around 30-35 lakhs per annum.
Related Blogs: Diploma vs degree- what must you choose and why?
5. Operation Management
MBA also offers a Specialization in operations management. It mainly teaches optimisation of business operations, product development, quality management, cost management, manufacturing time, enhancing productivity and customer satisfaction.
The job prospects are in retail, logistics, hospitality, transportation, manufacturing, construction, management consulting, financial institutions, and information technology (IT).
The average salary for business operations varies between 4-7.5 lakhs in top MBA colleges in Bhopal, with 6-10 lakhs being the top salaries in top business schools. On the other hand, mid-level earns about 15-20 lakh rupees per annum in India.
In comparison, senior-level positions in business operations make about 28-40 lakhs annually.
6. Retail Management
A program specifically designed to teach students about retail management is excellent for those who possess or want to seek managerial skills in managing retail operations. The course is available in leading business schools.
It can provide job opportunities for marketing executives, product managers, sales managers, and retail store managers positions.
The basic salary for a product manager is around 13 lakhs per annum. The average salary of a retail store manager is about 3.8 lakhs in India annually. At the same time, the sales manager earns about six lakhs per annum.
7. Healthcare Management
Healthcare is an all-time booming industry, with its growth hitting maximum during covid. The industry’s job prospects have also been increasing with its rapid growth.
MBA in healthcare management provides various job opportunities in the areas such as hospital administrator, healthcare associate, and hospital operations manager.
Healthcare administrators get an average salary of 4.8 lacs per annum in India. The maximum salary can rise to 10 lakhs per annum in India.
8. Information Technology
Undertaking information technology as an MBA Specialization is great for those who have a keen interest in the IT sector. The course focuses immensely on teaching management concerning information technology.
The program teaches information security, IT project management, etc. In addition, there are significant opportunities in the aspects of IT manager, corporate strategist, system manager, data processing manager, etc.
The average salary of an IT manager is about 13 lakhs per annum, while the freshers get around four lakhs per annum.
9. International Business
Management in international business provides an understanding of global businesses. Working for a multinational company is plausible when you learn about international business, laws, policies, and import regulations.
The job role in international business can vary from global business manager, logistics manager, compliance manager, and consultant to international marketing manager.
The salary in the international business domain may differ depending on the position. The average salary of a logistics manager is between 2.7 lakhs per annum to 8.2 lakhs per annum.
The basic salary of a compliance manager is around ten lakhs per annum, whereas for foreign exchange traders is around 7.5 lakhs per annum.
The Final Say
Master of Business Administration (MBA) is a broad field of study with multiple opportunities in various job prospects. Opting for the right course can be based on learning abilities, interests and skill set for the specialised course.
With so many options available, choosing the one that suits you can be difficult. However, evaluating all possibilities makes it easier now that you have the required information.