Update on 2024-05-01

MBA Salary in India in 2024: Average to Highest, Freshers & Experienced

Details of MBA Course 2024

MBA (Master of Business Administration) is one of the most popular postgraduate courses in India. It is a two-year program that prepares students for various managerial roles in different sectors. MBA graduates have excellent job opportunities and are in high demand across industries. The MBA salary in India has been increasing over the years, and it is expected to continue its upward trend in 2024.

MBA Salary in India for Freshers

The starting salary of an MBA graduate in India depends on several factors the college from which the candidate has graduated, the industry, and the location of the job. On average, the starting salary of an MBA graduate in India ranges from Rs. 4 lakhs to Rs. 12 lakhs per annum.

MBA graduates from top-tier management institutes like the Indian Institute of Management (IIM), XLRI, and FMS Delhi can expect higher starting salaries than those from lesser-known colleges. According to a report by Economic Times, the average starting salary of an IIM graduate in 2024 was Rs. 28.7 lakh per annum.

The industry and location of the job also play a crucial role in determining the starting salary of an MBA graduate. For example, MBA graduates who join the finance or consulting sectors can expect higher salaries than those who join the marketing or human resource sectors. Similarly, those who work in metro cities like Delhi, Mumbai, and Bangalore can expect higher salaries than those who work in smaller cities.

MBA HR fresher Salary in India in 2024

MBA HR fresher salary in India ranges between ₹ 0.2 Lakhs to ₹ 8.0 Lakhs with an average annual wage of ₹ 2.2 Lakhs. Salary estimates are based on 183 latest salaries from MBA HR freshers in India in job portals.

Check out the Top 10 Online MBA Colleges in India

MBA Salary in India for Experienced Professionals

Experienced MBA professionals in India can expect significantly higher salaries than freshers. The salary of an MBA professional depends on factors like the industry, job role, and experience. On average, MBA professionals in India with five to ten years of experience can expect a salary ranging from Rs. 12 to Rs. 25 lahks per annum.

MBA professionals in the finance and consulting sectors tend to earn higher salaries than those in other sectors. Senior management roles like CEO, CFO, and COO are the highest-paying positions for MBA professionals in India. MBA professionals who have excellent leadership and communication skills and can drive business growth can expect to earn higher salaries.

Factors Affecting MBA Salary in India in 2024

Several factors affect the salaries of MBA graduates in India. These include the college from which the candidate has graduated, the industry, the location of the job, the job role, and the experience of the candidate.

College Reputation: The reputation of the college from which the candidate has graduated plays a crucial role in determining the starting salary of an MBA graduate. Top-tier management institutes like IIMs, XLRI, and FMS Delhi have a reputation for producing top-quality MBA graduates, which translates into higher starting salaries for their graduates.
Industry: The industry in which the candidate works also affects their salary. The finance and consulting sectors tend to offer higher salaries to MBA graduates than other sectors like marketing, human resources, and operations.
Location: The location of the job also plays a crucial role in determining the salary of an MBA graduate. MBA professionals who work in metro cities like Delhi, Mumbai, and Bangalore can expect higher salaries than those who work in smaller cities.
Job Role: The job role of an MBA graduate also affects their salary. Senior management roles like CEO, CFO, and COO are the highest-paying positions for MBA professionals in India.
Experience: The experience of the candidate is also an important factor that affects their salary. MBA professionals with more experience tend to earn higher salaries than freshers.

FAQs

Q1. What is the average starting salary for MBA freshers in India in 2024?

Ans. The average starting salary for MBA freshers in India in 2024 ranges from Rs. 4 lakh to Rs. 12 lakh per annum. However, the salary may vary based on various factors like the college from which the candidate has graduated, the industry, and the location of the job.

Q2. What is the salary range for MBA professionals in India with five to ten years of experience?

Ans. MBA professionals in India with five to ten years of experience can expect a salary ranging from Rs. 12 lakh to Rs. 25 lakh per annum on average. However, the salary may vary based on factors like the industry, job role, and experience.

Q3. Which sectors offer higher salaries to MBA graduates in India?

Ans. The finance and consulting sectors tend to offer higher salaries to MBA graduates in India than other sectors like marketing, human resources, and operations.

Q4. What is the role of college reputation in determining the MBA salary in India?

Ans. The reputation of the college from which the candidate has graduated plays a crucial role in determining the starting salary of MBA graduate in India. Top-tier management institutes like IIMs, XLRI, and FMS Delhi have a reputation for producing top-quality MBA graduates, which translates into higher starting salaries for their graduates.

Q5. What are the highest-paying positions for MBA professionals in India?

Ans. Senior management roles like CEO, CFO, and COO are the highest-paying positions for MBA professionals in India. MBA professionals who have excellent leadership and communication skills and can drive business growth can expect to earn higher salaries.