It’s a dynamic and demanding job market that we live in. Corporates are fast becoming places where necessary management skills and qualifications are crucial for one’s continuous career growth. In such a competitive scenario, an MBA stands out – arguably – as the most logical career course one can pursue. It provides the necessary competency and heads the individual towards professional progression.
As per a survey conducted by Graduate Management Admission Council (GMAC), the organisation that conducts GMAT, close to 60% of employers have indicated a rise in the base salaries of fresh MBA hires. With over 90% of the survey respondents – which included recruiters from across the country – considering MBA hiring as an important organisational asset, the growing prospect of different MBA-related skills is strongly evident. Adding to the opportunity is the thriving start-up market of India, showing an impressive 51% growth in the demand for management professionals. (Source: http://dazeinfo.com/)
MBA graduates are sought after by varied organisations alike and thus, make the majority of workforce in any company. Given below are top 5 opportunities for MBA graduates, which promise strong growth for individuals independent of the industry they belong to. It will also help fresh aspirants with insights to select their specialisation better, suitable to their interests. Let’s have a read!
Finance: An MBA degree in Finance opens up vast opportunities in the job world for young students. The various opportunities within finance include Risk Management and Analysis, Management Consulting, Investment Banking, General Banking and Financial Planning and Finance Officer Positions. The demanding nature of these jobs expects professionals to have robust financial management skills, innate risk management acumen and competency to understand the nuances of the market. Such high level of skills come with one of the highest compensations in the industry, with salaries ranging from 2.5 to 7.0 lakhs for fresh graduates. As for the hiring trends across India, the Finance sector has seen close to 30% growth in hiring over the past year.
Marketing: Marketing is a very competitive sector that involves strategic planning, timely execution, in-depth market analysis and efficient resource management. Owing to the competitiveness, proper management and communication skills are a must. Considered high on competency, professionals in this field take up highly paid positions as Brand Managers, Marketing Managers, Market Research Analysts, and even CMOs. In fact, majority of the CEOs in the industry are from marketing background. Salaries of the marketing professional, ranges from 5.5 lakhs to about 20 lakhs for mid-level employees, doing justice to the trends that show an impressive growth of nearly 40% over the 2015 data.
Operations: This particular vertical is present across industries forming the backbone of the businesses. In IT or Manufacturing, an MBA grad can work as Product Managers or Technical Supervisors and can become a CTO or General Manager eventually. Operations demands of fast-paced day-to-day working ability and expects consistent efficiency. The excellence of operations comes with an equally rewarding payment structure, with a mid-level Operations Manager earning between 7.5 to 15 lakhs per year.
Information Technology Management: The IT sector saw a growth of above 20% in hiring this year, posing positive trends for individuals having an IT background. An MBA in IT can help them take positions from Technical Managers, Project Managers, Product Managers, Technical Consultants, to all the way up to CIOs or CTOs. Being a part of the ever-growing IT sector, professionals can earn between 5 to 25 lakhs depending on the experience and the skills.
HR Management: Relevant to all the industries alike, HR Managers are responsible for the smooth and efficient functioning of the entire organisation. They are responsible for the entire life-cycle of each of the employees in an organisation. Be it recruitment, performance management or constant employee learning, the HR Managers control all the varied functions with equal ease. Close to 20% growth in the hiring of HR Manager in 2016 directs towards a positive career progression which starts with salary anywhere between 5 lakhs to 15 lakhs.
The advancements of professional education in India, has added exponential value to an MBA degree. The competitive nature of job market has also opened routes for flexible options like distance MBA, which holds an equally appreciated and accepted value as a regular MBAs in the job market.
While MBA seems to be an easy choice for most of the learners, it is important to choose the specialization correctly, not only for better career progression but also to keep away from expense of time and money on irrelevant courses as well as to avoid getting laid off. Hope the article guides you well into choosing the apt MBA for yourself!