Deciding what to do after getting a Master of Business Administration (MBA) can be a big question for many. I’ve been there, too, and I’m wondering about “career options after MBA.” An MBA can help you get ahead in business careers and make you stand out to job recruiters.
The important thing is to look closely at all the different areas you can specialize in with an MBA. Each one has its own benefits and things to think about. Learning a bit about what each specialization involves, what jobs you could get, and how much you might earn is a good idea. This helps you choose the best path for you.
I’ve looked into the various career paths and salaries that come with the top 5 MBA specializations. This research has helped me see all the different opportunities an MBA can offer and has guided me to a career that I find rewarding.
Why choose to pursue an MBA
Deciding to pursue an MBA is a big step, and there are several reasons why people choose to do it:
- Higher Pay: On average, MBA graduates earn 67% more than those with just a bachelor’s degree, according to the Graduate Management Admission Council (GMAC). This can greatly improve your financial situation and future job prospects.
- Leadership Roles: An MBA teaches you skills like strategic thinking, communication, and finance, which are valuable for leadership positions in companies.
- Changing Careers: An MBA can help you switch to a different career by giving you a broad set of skills that are useful in many industries.
- Confidence: Earning an MBA can be tough, but it can also boost your confidence by showing you that you have the skills to succeed in business.
- Entrepreneurship: If you want to start your own business, an MBA can give you the knowledge and tools to do so.
- Global Opportunities: An MBA is recognized worldwide, opening up job opportunities around the globe.
Today, we will look at the different types of career opportunities and salary packages for the top 5 MBA specialization streams. Therefore, one will know what to do after MBA.
MBA in Finance
The best answer to the question “what can we do after MBA” would be MBA in Finance. MBA in Finance is a popular MBA specialization with tremendous growth prospects in Banking, Financial Services & Insurance sector. Financial management focuses on the planning, managing, and regulating the financial resources/assets of any industry.
After completing an MBA in Finance, one can find a job in the following sectors –
- Corporate Finance
- Corporate Banking
- Credit Risk Management
- Asset Management
- Hedge Fund Management
- Private Equity
- Sales and Trading
Goldman Sachs, Merrill Lynch, Morgan Stanley, and JP Morgan are some of the top recruiters in India hiring MBA Finance professionals.
In India, an MBA graduate in Finance from top B-schools can earn a starting salary of anywhere around packages of Rs 10 – 15 lakhs p.a. Candidates hailing from other institutes may earn a starting package of Rs 4 – 6 lakhs p.a. The salary increases with growing experience and knowledge. Mid-level professionals earn an annual package of Rs 20 – 30 lakhs, whereas senior-level professionals can earn as high as Rs. 35 – 50 lakhs and even above per year.
Source – Payscale
MBA in Business Analytics
MBA in Business Analytics is a specialization field that focuses on teaching students how to use different analytical tools (statistical and quantitative analysis, explanatory and predictive modeling, data visualization, etc.) to gather data from multiple sources and analyze it to gain valuable insights into the customer behaviour, market trends, and other matters related to business intelligence.
MBA graduates in Business Analytics can find jobs in various sectors like Information Technology, Healthcare, Financial Institutions, E-Commerce, etc. Boston Consulting Group, Accenture, Capgemini, Wipro, Amazon, etc are some of the top recruiters for Business Analytics professionals in India.
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Thanks to the growing importance of analytics in business, the average salary of Business Analytics professionals in India is Rs. 11 lakhs p.a. While freshers can make around Rs. 5 – 8 lakh p.a., experienced professionals in the field can earn between Rs. 10 – 18 lakhs p.a. Those at a senior level can draw a salary between Rs. 30 – 55 lakhs annually.
MBA in Marketing
MBA in Marketing is definitely one of the top answers to the question “what can I do after MBA” as the field is growing rapidly with its importance spanning across various study fields. MBA in Marketing Management focuses on the marketing aspect of a business. The key goal is to teach students about brand marketing, sales, different marketing channels & techniques, executive and leadership management skills, product management, market research, consumer behavior, to name a few.
After completing an MBA in Marketing Management, one can find a job in the following sectors –
- Competitive Marketing
- Business Marketing
- Online Marketing
- Analytical Marketing
- Customer Relationship Marketing
- Advertising Management
- Product and Brand Management
- Retailing Management
Marketing Management professionals can find job opportunities in Advertising Agencies, Marketing Companies, FMCG Sector, Financial Services, IT, etc. Though Marketing as a function is required in almost every organization, and here are a few prime recruiting companies in India for marketing function – Accenture, Amazon, Capgemini, Indusind Bank, Ing Vysya Bank, India Infoline, etc.
The annual salary range of Marketing Management professionals India may range anywhere between Rs. 3.5 – 18 lakhs for freshers (higher-end salaries for graduates from reputed B-schools). The salary increases with experience and can range between Rs. 15 – 40 lakhs p.a.
Source – Payscale
MBA in Human Resource Management
If all of the options above did not help you find your answer to “after MBA what can I do?” then you might prefer MBA in Human Resource Management. MBA in HR Management focuses on maximizing the performance of the employees to accomplish the goals of the organization. It teaches students how to acquire the right skills, best industry practices, and knowledge of how to manage human resources in ways that guarantee optimum benefits.
Recently, the job of HR professionals has gained increasing traction across all parallels of the industry. Hence, HR Management professionals can find plenty of employment opportunities in IT companies, law firms, advertising firms, retail companies, media houses, newspapers, etc.
An HR professional may earn a starting salary of Rs 2.5 – 4 lakh p.a. However, graduates from reputed B-schools can make around Rs. 4.5 – 8 lakh p.a. For mid-level positions, the annual salary ranges between Rs. 10-18 lakhs, whereas senior-level professionals make nearly Rs. 25 – 40 lakhs p.a.
MBA in Operations Management
Operations Management revolves around optimizing everything related to the business operations, including product quality and cost, manufacturing time, enhancing productivity, and boosting customer satisfaction quotient. Purchase management, Inventory management, vendor management, and enterprise resource planning (ERP) make up the operations management and the supply chain of a business.
Graduates with this specialization usually bag jobs in product/service based units, including –
- Financial Institutions
- Management Consulting
- Information Technology
Damco, Blue Dart, First Flight, GAIL, ONGC, and NHPC are among the major recruiters for Operations Management professionals in India.
In India, the average starting salary of Operations Management professionals is between Rs. 4 – 7.5 lakhs. Graduates reputed B-schools can make around Rs. 6 – 10 lakh p.a. For mid-level professionals, the annual salary range is around Rs. 15 -20 lakhs and that of senior-level professionals is Rs. 28 – 40 lakhs.
- MBA in International Business
MBA in International business is a two-year-long post-graduation course that helps students learn how to run a global business. If you aim to be a part of MNCs and learn more about international business, laws, policies, trade, and import regulations, then this is the course for you. There is ample scope after the course as most businesses plan to expand their reach globally.
After completing the course, you can be recruited for the international business consultant, export manager, or international marketing manager positions. Global business manager, Logistics manager, Foreign Exchange Trader, and Compliance Manager are a few similar roles you can aim for in the field.
Some top recruiters include JP Morgan Chase & Co., Accenture, Max life insurance, Cognizant, Amazon, TCS, HCL Technologies Ltd., The Goldman Sachs Group Inc., etc.
The salary of a logistics manager can be anywhere between 2.7 LPA to 8.2 LPA. The average salary of a foreign exchange trader in India is around 7.5 LPA. The average salary of a compliance manager in India is around 10 LPA.
- MBA in Healthcare Management
MBA in Healthcare Management will train you to manage various managerial aspects of hospitals, pharmaceutical companies, and other healthcare systems. As the healthcare industry is one of the most booming industries worldwide, this course opens doors to extensive opportunities. This course will aid you with a holistic understanding of the healthcare industry.
Some of the job roles offered after this course include Hospital CEO, Hospital Administrator, Product manager for medical device companies, Healthcare Associate, Hospital Operations Manager, Health Insurence Manager Etc big companies such as Fortis, Star Health, Siemens, Apollo, WHO, Cipla, Practo, Max, AMGEN, etc.
The average salary of a Hospital Administrator is around 4.8 LPA, while the maximum salary can also rise up to 10 LPA based on the years of experience. An operations manager’s salary can range from 3.7 LPA to 10 LPA.
- MBA in Information Technology
MBA in Information technology is one of those specializations of MBA that are more inclined toward tech. This specialization will give you the skills to manage IT aspects and employees. The course presents a great combination of traditional business management aspects, such as information security, IT project management, etc. This course carries huge value as almost every business in the future will be tech-dependent.
After pursuing this course, you can become an IT manager and have considerable opportunities to work in the IT domain of any big company. Apart from that, various other job roles include project manager, Corporate strategist, System Manager, Digital Leader, Data Processing Manager, Systems Software Manager, etc.
Some IT giants such as TCS, Infosys, Wipro, and Tech Mahindra are the top recruiters for MBA in IT graduates.
The average salary of an IT manager is around 13 LPA, whereas entry-level candidates can get around 4.8 LPA. A system manager can earn between 2 LPA to 8 LPA based on their skills and years of experience.
- MBA in Luxury Brand Management
If you are naturally drawn to luxury goods and want to learn more about how they are kept relevant in the market, then you can opt to specialize in Luxury Brand Management. The course primarily teaches the know-how of the luxury industry and the principle concepts it follows to stay relevant and gain exposure. This course has a great blend of entrepreneurial, managerial, and marketing skills crucial to keeping the luxury industry afloat.
After this course, you can get a job as a marketing analyst, retail strategist, merchandiser, business development officer, brand manager, operations manager, PR Specialist, etc.
The top recruiters for Luxury Brand Management graduates include Rolex, Gucci, Armani Exchange, Louis Vuitton, Rolls Royce, Prada, Audi, etc.
An average salary of a Public Relations (PR) manager is around 5 LPA. The entry-level candidates can get an average of 3 LPA with this job. Currently, in India, a brand manager earns an average of 8.8 LPA, whereas the entry-level average salary starts at around 6.6LPA. The starting salary of a marketing analyst is around 3.6 LPA, whereas the average salary stands at 4.4 LPA.
- MBA in Retail Management
MBA in Retail Management is a specialization after an MBA that offers a wide range of in-depth knowledge regarding the retail industry. This course majorly focuses on enabling the students with the required managerial skills that are streamlined with the retail industry. This can further help you explore a new array of career opportunities in the retail industry. The course is offered by various leading business schools in India, mostly as a post-graduation diploma course.
After this course, you can be placed in front-end and back-end profiles. Retail management graduates can get job roles like product manager, marketing executive, sales manager, retail store manager, etc. Top companies that require retail management graduates include
- ITC Hotels
- Reliance Jio
- Taj Group of Hotels
An average product manager’s salary in India (unspecified type) is around 13 LPA. Entry-level candidates who have experience of less than a year can also earn up to 9 LPA for this role. The average salary of a retail store manager in India is around 3.8 LPA, and an area sales manager earns an average of 6LPA.
How to get a Job after MBA
Securing a job after completing an MBA involves several strategic steps:
- Networking: Utilize networking opportunities offered by your MBA program, including alumni events, career fairs, and professional organizations. Networking can provide valuable connections and insights into job opportunities.
- Internships: Gain practical experience and make industry contacts through internships during your MBA program. Many companies use internships as a pipeline for hiring full-time employees.
- Career Services: Take advantage of career services offered by your MBA program, such as resume workshops, interview preparation, and job search assistance. These resources can help you refine your job search strategy and stand out to potential employers.
- Targeted Job Search: Focus on your job hunt in industries, companies, and positions that match your skills, interests, and career objectives. Customize your resume and cover letter for each job application to showcase pertinent experience and qualifications effectively.
- Online Platforms: Utilize online job search platforms, professional networking sites like LinkedIn, and company career websites to explore job opportunities and connect with recruiters.
- Boost your resume: Highlight MBA-specific skills, leadership experiences, and relevant coursework. Showcase achievements through quantifiable results.
- Market yourself effectively: Craft a strong online presence through LinkedIn and professional websites.
- Stay positive and persistent: Job hunting can be challenging. Celebrate successes, learn from rejections, and remain focused on your goals.
Life after MBA
Life after completing an MBA is brimming with possibilities! You have the potential to reach new career heights, including higher pay, leadership roles, or transitioning to new industries. Your professional connections flourish, offering diverse opportunities. Personal growth thrives as you refine your business skills and gain confidence. Remember that the journey doesn’t end here—stay adaptable, expand your network, and dare to push boundaries to shape your ideal future.
An MBA can lead you to many high-paying jobs in finance, marketing, and tech. This degree helps you move up in your career and make more money. It’s not just about learning; it’s a key to many doors in the business world. When picking what to study in your MBA, think about what you like and where you want to go in your career. This choice can really help you find a job you love and do well in it. An MBA is a big step that can help you grow and succeed in the business world.
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Which MBA specialization would be the best for my career?
The subjects you choose to specialize in while pursuing your MBA degree can have a significant impact on your profile and will greatly streamline the work opportunities you would be receiving after gaining your degree. While it can be hard to decipher which of these specializations you want to pick, it is important to keep in mind your interests, background, exposure, and profile before making the final decision. At the end end of the day, the best MBA specialization for your career will be the one that you are most passionate about and would include topics that you are most interested in.
Why should I get a specialized MBA over a general MBA?
A specialized MBA will help you sharpen your subject-specific knowledge and help give a headstart to your career. This is an extremely relevant option if you are already certain about the field you want to pursue and/or have major relevant experience working in one domain. A specialized MBA could help you in improving your overall general knowledge about various subjects and disciplines while only gaining in-depth knowledge of the subjects or field of your choice.
What are some pros and cons associated with pursuing a general (non-specialized) MBA program?
General MBA programs help students gain holistic knowledge and understanding of the various disciplines of management studies, without having to commit to a particular field/subject. These courses generally take longer to complete, due to the comprehensive nature of their curriculum and could prove to be heavier on the pockets as compared to their specialized alternative. If you are uncertain about the field you wish to work in, these could be a good option for you. A general MBA will help you in acquiring skills that would be relevant across industries and could be applied to various specialties.
Who can pursue an MBA?
MBA is not stream-specific. The term expanding as Master of Business Administration does not imply it can be pursued only after a BBA (Bachelor of Business Administration). MBA can be done by any person holding a 3-year undergrad degree or any equivalent qualification recognized by the Ministry of HRD (Human Resource Development), Government of India. The overall eligibility criteria may vary from institution to institution. Some Indian institutions may also consider the scores of CAT and the undergraduate degree. Some institutes may also take into account the work experience of the candidate. At the global level also, there are entrance exams like GRE and GMAT for MBA.
Which are the top-ranked institutions for MBA?
Taking only Indian universities into consideration as NIRF (National Institute Ranking Framework) as the parameter, IIM Ahmedabad ranks top with a score of 83.69. It is followed by IIM Banglore and IIM Calcutta, with a score of 83.48 and 80.04, respectively. While talking about institutes all around the globe, Stanford Graduate School of Business, USA, tops the list scoring 94.2. Harvard Business School and Penn University, USA, are second on the list, with an equal score of 92.2, as per QS Global MBA Rankings: Global 2022.
What is Hedge Fund Management?
Hedge funds mean the finances raised by a group of people collectively with the aim of earning a good return and, at the same time, hedging against the risk that may arise. Hedge Fund Management is putting these hedge funds to the best use with adequate risk. It majorly includes investment decisions and overall professional supervision of the funds. Hedge Fund Managers analyze and study the market and different avenues of investment to earn a positive return for the partners of the fund.