The career path of a business manager can be smooth if you can meet the required eligibility criteria. This job profile focuses on implementing your creativity and tact in leading a company successfully.
Recently, there’s been a rise in the number of aspirants who want to take up business administration as their career in recent times. This is because a business administration course does not demand a specific degree. Anyone from any educational or professional background can pursue a BBA or MBA course for upskilling. These professional degrees are popular worldwide due to the rising demand for BBA/MBA graduates and increasing job opportunities across all industries.
This article shall provide you with the different salaries under the Business Administration diaspora. Before that, let us first look into some aspects that influence the salary of Business Administration professionals.
What does a Business Manager do?
A business manager leads and supervises teams to optimise overall business performance. They offer actionable directions on how to handle specific operations and business functions while guaranteeing a stellar customer experience.
Business managers devise and implement strategies to boost company profitability. As a business manager, your primary responsibility is to oversee the company’s administrative responsibilities. They also plan the company’s marketing strategy.
In addition, business managers conduct a budget study to identify cost-cutting opportunities. Apart from this, you should have a thorough understanding of bookkeeping, marketing, and administrative operations to run a firm successfully.
Business Manager’s Salary in India
The salary of a Business Manager in India depends on numerous factors like skills, qualifications, experience level, location, company size, etc. However, the average salary of Business Managers in India ranges from ₹ 2.8 to ₹ 26 Lakhs.
The salary of a company manager at various levels, according to Payscale’s salary statistics, is as follows:
- Entry-level: Freshers, recent business graduates, and diploma holders with less than a year of experience in the field are all considered entry-level. Their average annual base income is Rs 356,853.
- 2-4 years of experience: Business managers with up to four years of experience can expect to earn an average of Rs 522k per year in their early careers.
- Mid-level: You can easily earn Rs 771k per year if you have between 5 and 9 years of experience.
- Highly experienced: You’re considered highly experienced if you’ve worked in a field for ten years. This is reflected in your salary benefits. Anyone with ten to nineteen years of experience can earn up to Rs 1.2 million per year.
- Late-career: Business managers with more than 20 years of experience may earn Rs 1.3 million per year.
Salaries of Business Managers per Different Job profiles
1. Marketing Manager (average annual salary: ₹ 290k)
As the name implies, a marketing executive oversees marketing trends and devises tactics to profit from them. The following are typical responsibilities of a marketing executive:
- To come up with sales-boosting strategies for the organisation.
- To develop promotional campaigns.
- To expand the brand’s market reach.
2. Sales Representative Manager (Average annual salary: ₹ 437,500)
The following are the responsibilities of a sales representative:
- To oversee sales-related merchandise and services.
- To keep track of clients and customers.
- To actively build a consumer base.
- To identify new sales opportunities.
- To generate new leads and convert them into potential customers.
3. Business Analyst (Average annual salary: ₹ 700,000)
A business analyst’s job is to give statistical information regarding the company’s progress to the management team. They must provide data-driven business advice to stakeholders and decision-makers. Other primary duties involve:
- To produce sales and growth reports using analytics.
- To forecast the impact of changing market/customer trends on the firm’s market position.
- To propose viable suggestions to improve a company’s growth.
- To locate and describe issues that obstruct a company’s expansion.
4. Manager of Operations (Average annual salary: ₹770k)
The responsibilities of an operations manager are:
- To implement quick fixes that will improve the company’s stability and efficiency.
- To implement successful policies, strategies, and plans.
- To evaluate and create business leadership strategies to drive overall performance.
5. Business Manager (Average annual salary: ₹ 860k)
The primary duties of a business manager are:
- To employ effective performance measures for monitoring team performance.
- To make plans to increase the company’s revenue and productivity.
- To meet marketing and sales targets.
- To implement strategies within the set budget.
Our Top Doctor of Business Administration Programs & Articles
6. Business Application Manager (Average annual salary: ₹ 2,701k)
A business application manager juggles multiple tasks, including:
- Tracking the everyday activities and operations of the app development team.
- Sharing constructive feedback and suggestions for improvement.
- Establish professional relationships and devise actionable solutions for business challenges.
- Determine the cost of maintaining company properties and improving them.
7. Business Development Manager (Average annual salary: ₹ 2,630k)
A development manager is a link between the company’s upper management and its customers. The following are some of their responsibilities:
- To identify, analyse, and accomplish project goals.
- To be in charge of the day-to-day operations of the company.
- To make continuous attempts to broaden the company’s horizons.
- To plan fundraisers and other events for raising capital for projects/campaigns.
- Recognise and respond to customer complaints and suggestions on a product/service.
Factors affecting the salary of Business Managers
As mentioned earlier, several factors determine the annual salary and compensation of business managers in India. The most crucial determinants of their pay are:
1. Work experience
Your work experience (number of years worked) is directly proportional to your market value. It determines how high your salary will go. If you have over five to ten years of experience in the management field, you can bag good job profiles with a six-figure salary.
2. Online reputation
When considering your market value, you cannot undermine your online reputation. Your reputation or ratings on online job platforms like LinkedIn, Indeed, Upwork, etc., tells potential recruiters about your work ethic, qualifications, expertise areas, and professional reputation. So, build a commendable online profile that highlights your skills and qualifications. If you have a vast network or good industry connections, you can further attract job roles with higher salaries.
Your salary ask will be high if you have the right balance of industry-relevant hard and soft skills. Since business management involves diverse capabilities, from strategy creation and implementation to leadership, you must build a good skills portfolio to bag high-paying jobs. Employers prefer candidates who can bring value to their organisation.
4. Job role
The job profiles you’ve been in so far also determine your salary. You will earn an entry-level salary if you’re in an entry-level job. However, if you are already in the management wing, you will draw a six or seven-figure salary, depending on your role and seniority position.
5. Professional efficiency
In business administration, every initiative is quantifiable. Management roles demand extraordinary efficiency and leadership abilities to ensure smooth operations and optimal performance.
In India, job opportunities are expanding for skilled talent, encouraging freshers and professionals to upskill for better career prospects. If you are keen to pursue business administration, opt in for upGrad’s Global Doctor of Business Administration course.
This 36-month long course is specially designed for working professionals. It comes with personal thesis support and international opportunities for research. Apart from one-on-one thesis supervision, you can also enjoy attractive networking opportunities.
Is pursuing an MBA Degree expensive?
Yes. Pursuing a master's in business administration isn't one of the cheapest affairs as it's one of the most dynamic courses in terms of curriculum. However, with the wide variety of institutions giving various online and offline options for an MBA, you can choose the course that suits your budget and pursue an MBA. You can also avail scholarships and education loans for the same.
Which are the highest paying MBA specialisations?
MBA in finance, banking and marketing fetch you the highest salary in India. However, human resource management is also a popularly opted stream for specialisation that can ensure a high salary package.
How much salary do Business Managers draw yearly in India?
Business Administrators earn within the range of 7-12 lakhs per annum in India. However, they can start earning millions very soon, depending on the growth trajectory.