An MBA can give a person an opportunity to contribute to an organization at a much higher level than one which they were earlier. Not only does this mean a greater degree of responsibility, but it also means a significantly higher salary, as well as perks and other benefits. While these are the glitters of the degree and the jobs that come with it, it is crucial to steer clear of the hype and focus only on what matters – the job that will ultimately determine the course of one’s career. Read about why do you need MBA for your career growth.
Given that an MBA degree anyway demands a significant amount of money as an initial investment, it is advisable to start thinking about what career trajectory one will shape up to have – and the earlier one starts at this, the better it is.
Three of the most in-demand job roles that open up after an MBA course are enlisted as follows:
A majority of MBA graduates get corporate jobs with the profile of a Project Manager. This job role opens them up to the possibility of planning, strategizing, and executing on various pillars of their industry. Furthermore, it becomes their responsibility to achieve the predetermined targets, to make growth forecasts, as well as focus their energies on team building. Usually, this role is segregated to one project only – but that depends on the nature of the organization, and how big the project is. It can even turn out to be multiple projects if the organization demands more from the candidate.
For this particular role, a Project Manager will need to have at least the following skillset – and the specificity of the project will decide which quality requires a greater focus:
- Effective communication skills
- Team building and motivation
- Efficient Planning and Strategising
- Zeal for unparalleled growth
- Adequate financial understanding for projections, and more.
Experienced project managers can earn a yearly salary of 17 to 21 Lacs per annum.
Business Development Manager
A Business Development Manager has an interesting role: it is not limited to specific projects, but rather covers the entire growth of the company. A BD Manager – as the role is popularly referred to colloquially – needs to understand how to grow the company by taking its business to newer heights, seeking more avenues for expansion and potential for growth. A BD Manager too will have to meet certain targets to make sure that the targets are met – but they will have greater freedom than other job positions to make sure that their goals are achieved.
As this role centers on business expansion and understanding which models of business work, it requires specific skills which centre on strategic planning and execution. The skills required for such a job profile are as follows:
- Innovative approach to standard problems
- Impactful communication skills
- The ability to build networks everywhere
- Utmost respect for deadlines
- Never-say-die attitude
Experienced BD managers who have proved their worth to their companies can earn around 16 to 25 Lacs each year!
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Marketing is a booming field right now, as every company has started to realise the value of the public gaze and the rewards it foretells for them. If an MBA graduate has a specialisation in marketing, they can easily snag this position.
With this job role, an MBA graduate will look after all the marketing efforts of a particular organization, whether it is online or offline, and will make sure that they get a fair return on their investment, based on whatever metrics are decided beforehand. Moreover, a Marketing Manager will also be responsible for designing, perhaps even planning and executing effective marketing strategies to propel the company forward.
The position does not require any specific skills, except for the ones which address the marketing segment of the work. Including those skills, the rough talents that will be required in a candidate for this position are:
- Effortless Interpersonal skills
- The ability to leverage networks for more exposure
- Understanding how masses work
- Being able to analyze tricky situations in terms of advertising
- A keen eye for detail
Marketing managers are currently in high demand, and have been so for some time! Experienced marketing managers can make beyond 18 to 20 Lacs per annum – and that’s only the beginning of the tip of the iceberg.
An MBA is not the easiest course to finish – it’s a huge struggle simply to get into the course of one’s choice, then there is also the arduous task of managing to keep your grades, all the while building soft skills and understanding the importance of groups and networks. But if you’ve managed to do it all, there’s no stopping your career from really taking off into the highest of the highs! So don’t worry about a thing – start yourself on your dream career path today!
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What kind of jobs are available for MBA graduates in 2022?
The pandemic taught the corporate world the importance of digitization. With the economy cautiously moving back to normal levels, and the increased focus of organisations towards digital transformations, there are a multitude of job openings for MBA graduates in 2022 in various functions – particularly digital marketing, product management, technology management, business analytics, and more. Thus, MBA graduates from good institutes and excellent academic records are in high demand among recruiters. Recruiters also lean more towards experienced MBA graduates with relevant work experience.
Is it possible for a fresher to get a job after MBA?
If you have completed your MBA from a good institute, it is certainly possible for you to get an excellent job through campus placements. Despite your work experience (or the lack of it), you can choose to work with a good organisation in the industry of your choice. There is also a demand for MBA graduates for roles such as business analytics, digital transformation and managing technical projects providing they have the necessary skills that recruiters are looking for. Depending on your interest and specialisation, as well as your domain background, it is definitely possible for you to get a job after MBA even if you are a fresher.
What is the average salary for an MBA graduate?
An MBA graduate with prior work experience of more than 3 years can expect an average salary between INR 8 – 11 lakhs, or more, depending on their background as well as the ranking of the MBA institute. Freshers can expect salaries averaging between INR 5 – 10 lakhs. MBA graduates from global or international programs, or from premier institutes can expect much higher salaries depending on their specialisation and choice of industry. It should be noted though, that while an MBA degree acts as a career boost and enables most students to get good jobs at higher starting salaries, over a certain period of time, their salary increments will depend largely on their expertise, among other factors.