Let’s take up a case of two freshly graduated MBA lads namely, X and Y. Gifted with supernatural communication skills, X graduates from a top-notch business school in India with a much decent job package of Rs 12,00,000 per annum in hand. While on the other hand, an extremely shy Y manages to survive his 2 year MBA program in a not-so-known b-school with a mediocre job of Rs 500,000 per annum, not even close to what he expected out of an MBA degree. While X is busy planning his next high-end strategy to impress his boss at work (maybe even overtake him for all we know) and expanding his professional network, Y is still wondering what went wrong. The bottom line: Not every MBA graduate is given a grand welcome in the corporate world.
A lot of it depends on the institution and stream one chooses to graduate from. Whereas engineers are the people who make things, MBA grads are the ones who manage people who make things. It’s due to this very reason that MBA grads are needed in almost every type of organization: banking, non-banking; government, private sector; you name it!
Furthermore, after the liberalization era came into effect, the growing need to understand the wants and mentality of a consumer rocketed over the last two decades, resulting in more b-school establishments, more MBA programs and eventually more career opportunities.
Once a person becomes sure about pursuing MBA, he must focus on how to go about it. The discussion includes which stream to focus on suiting one’s inherent traits followed by the job opportunities offered by that particular stream. Main sectors of management include banking & finance, human resource management, marketing, sales, operations management, etc.
Banking & Finance
This stream is one of the most sought-after and equally dreadful fields in management. It basically includes portfolio management and security & investment analysis. Most professionals from this field are hired in foreign banks, security companies and investment firms. Related job profiles include commercial banking, credit analysis, wholesale risks, relationship management and corporate treasury. An average salary package for banking & finance ranges from Rs 500,000 to Rs 12, 00,000 per annum. Following companies are top recruiters in this stream:
- Goldman Sachs
- J.P. Morgan
- Barclays
- RBS
- Deutsche Bank
Marketing Management
Brisk communication skills, sharp business ethics, strong ability to convert programmes or ideas into working models are just some of the many requisites for a marketing manager. It puts to test one’s ability to brand a product and launch it into an existing market. The salary package varies from Rs 40,000 to Rs 65,000 a month. Basic job profiles in marketing include:
- Market research
- Analysis of demand
- Strategic planning
- Marketing campaigns
Main recruiters are listed below:
- Sony
- RAK bank
- Reckitt & Beckinser
- Tata Consultancy Services Ltd India
- Ranbaxy Fine Chemicals India
Management Consulting
If you are the ultimate problem solver in your group, this is the place for you to be. In today’s times when companies are perpetually exposed to risks internally as well as externally, it has become a practice for businesses to collaborate with a consultancy firm in order to improve their policies. Pay for this job rises steadily for experienced professionals. The average salary is Rs 1,107,483 per annum.
Firms that hire in this field:
- Bain (BCC)
- Deloitte
- Cognizant Business Consulting
- Infosys Management Consulting
- Cartesian Consulting
Private Equity
As the name suggests, a private equity analyst works with private equity firms. He has to carry out a thorough research and analysis on private companies. One should possess an insight in different business models and companies around the globe. This is regarded as one of the most rewarding fields in management with a wide pay scale between Rs 3,00,000 and Rs 14,00,000 for a professional with a couple of years of experience in hand.
Main recruiters are listed below:
- DE Shaw
- Indiabulls Housing Finance
- Kotak Life
- JP Morgan ChaseAxis Securities
Human Resource Management
Much has been already told about this field. HR is known to be the heart of any organization. So, if you think you’re an excellent listener, a brilliant leader and a good decision maker, then you have found your niche as an HR Manager. Basically, HR professionals work as middleware between the management and the employees, and accordingly act to create a healthy as well as a productive work environment at the same time.
Main areas of work include:
- Recruitment & Selection
- Training & Development
- Administration planning
- Compensation & Benefits
- Performance appraisal
Top recruiters for HR:
- ABC Consultants
- Adecco India
- IKYA Human Capital
- Kelly Services India
- AON Hewitt
Entrepreneurship
It’s, undoubtedly, the newest fad among MBA grads. A fad which is here to stay. Some may not even know to pronounce it the right way, but they sure know how to mend their way out of venture capitalists. What can be better than the prospect of working as one’s own boss and operating an organization of one’s own interest. However, things seldom work this easily for entrepreneurs. Furthermore, with the introduction of new ‘Make in India’ policies by the Modi government, entrepreneurship is sure to get a new facet in India.
