An online Master of Business Administration is a postgraduate program that offers the same curriculum as a traditional, on-campus MBA program but through an Online mode. This learning mode is becoming increasingly famous among working professionals who desire to balance their education with work. In this blog, we will explore the Guide to Salaries After an Online MBA in India for Freshers and Experienced (2024).

What will you get to know in this blog?

In this blog, you will learn all about the salaries of freshers and experienced working professionals after an online MBA program in India. Each point will be examined in detail, covering the following aspects:

• Introduction to Online MBA
• Benefits of pursuing an online MBA 
• Hiring companies and job
• Job opportunities and roles
• Salaries After an Online MBA in India
• Why Global Industries are hunting for MBAs.

What is Onlne MBA?

The Master of Business Administration is a professional post-graduate degree, An online MBA covers various aspects of business management, including finance, marketing operation, human resources, and strategy, and it is designed to provide students with the skills necessary to be an expert in the corporate world. The duration of the course is generally 2 years, but some universities provide flexibility to the students to complete the course in 4-5 years according to their pace and schedule. The eligibility criteria usually include a bachelor’s degree from a recognized university with 50% - 60% aggregate marks. Here is an overview table of the MBA course.

Benefits of Pursuing an Online MBA

Pursuing an online MBA offers several advantages for career advancement. 

1. To begin with the advantage of seeking an Online MBA is flexibility. Students can study at their own pace and schedule, Making it perfect for working professionals who want to grow in their careers.

2.  An online MBA is more affordable than a traditional MBA, as it saves on commuting and housing costs. Some universities also offer Financial aid and installment payment options making it more reasonable.

3.  Despite being online, the program helps to create a network by conducting seminars, lectures, interactive sessions, and group projects, connecting students with experts worldwide. 

4.  Another important benefit of pursuing an online MBA is accessibility. Students can access lectures and course material whenever they want. 

5.  An MBA, whether online or offline is an effective program that can open doors to higher-level positions, leadership roles, and increased earning possibilities. 

Also Read: Online/Distance BBA Admission 2024- Process, Eligibility, Fess, Application, Apply Here

Hiring companies and job

Graduates of online MBA programs are highly preferred by a vast range of firms across different industries. Some of the well-known hiring firms include. 

• Consulting firm - Many consulting firms like Boston Consulting Group (BSG), Deloitte, KPMG, Oliver Wyman, and Brain and Company often employ MBA graduates for roles in strategy consulting and business analysis.  
• Financial Services - Banks and financial institutions such as Citigroup, Deloitte, ICIC Bank, Amazon, and Axis Bank desire to hire MBA graduates for roles in  Corporate banking, Financial advisor, portfolio manager, wealth manager, and many more.
• Technology Companies - Firms like Amazon, Wipro, Infosys, Apple, and TCS recruit MBA graduates for roles as Business Analyst, Management consultants, Digital Leaders, data processing managers, and many more. 
• FMCG and Retail - Top firms like Unilever, Britannia Industries, Reliance Retail, and many more search MBA graduates for roles in Area Business Manager, Sales & Marketing, Supply chain management, sales executive, and more. 
• Healthcare - Organizations such as Cipla, Novartis, Fortis, and Apollo hospitals hire MBA graduates for roles in healthcare management, business strategy, and operations. 

Salaries After an Online MBA in India

The earnings opportunities for online MBA graduates in India depend on factors such as job experience, industry, and the reputation of the organization. Here is an analysis of expected salaries.

For Freshers 

Fresh graduates with an online MBA can desire salaries ranging from INR 4 to 11 Lakh per annum for roles such as Business analysts, marketing executives, and financial analysts generally offer these salary ranges. The exact figure depends on the industry and the exact place.

• Business analysts - INR 3 To INR 5 lakh per annum 
• Marketing Executive - INR 2 to INR 4.5 lakh per annum 
• Financial analysts - INR 2 to INR 7 lakh per annum 
• Finance Manager - INR 3.5 to INR 5 lakh per annum 

For Experienced Professionals

For professionals with prior job experience, an online MBA can significantly expand earning possibilities. A trained professional can predict salaries ranging from INR 8 to INR 15 lakhs per annum, relying on their previous role and the industry they transition into with an Online MBA.

• Human Resources Manager - INR 9 to INR 15 LPA 
• Marketing Manager - INR 8 to INR 13 LPA 
• Financial Management - INR 7 to INR 17 LPA
• Investment Banking - INR 5 to INR 10 LPA
• Management Consultant - INR 6 to INR 12  LPA

Job opportunities and roles

An online MBA can open doors to different job roles, including but not restricted to -

Why Global Industries are hunting for MBAs.

Many global industries are nowadays seeking MBA graduates for several reasons. 

1- Strategic Thinking -  MBA graduates are instructed to think strategically, which is crucial for driving business growth and cross-complex market environments. 

2- Leadership skills-  The curriculum of the program emphasizes leadership and management skills in the students. 

3- Problem Solving- The program provides students with analytical and problem-solving skills.

4- Innovation and Entrepreneurship - Many MBA programs encourage innovation and entrepreneurship fostering a mindset that is beneficial for both startups and established companies. 

Conclusion 

An online MBA offers an adaptable and cost-effective way to improve one’s career, by supplying the required skills and knowledge for success in the business world. With the increasing acceptance of online education and the rise in demand for MBA graduates across industries, the prospects for Online MBA are promising. Whether you are a fresher or an experienced professional, an online MBA can significantly enhance your career.