After doing an MBA, a candidate would want to secure a job. This process is one of the most anxiety-laden processes in which the candidate needs to appear in multiple companies. If you are fortunate enough, you might be placed from your institute itself. This is justified though, to have a long and successful career. In this article, we shall provide you with some of the interesting pathways of how is life after MBA from IIM, FMS, etc.
Job availability, Workload, Responsibilities, and Salary vary according to the specialization and job profile you want to be recruited in. Below are some of the popular profiles and specialization with their details:
- Life after MBA in Marketing:
Life after MBA in marketing for the students is awareness of sales, executive, marketing fields, and leadership management skills, market strategies, consumer trends, product management, and market research in several kinds of industries. For freshers, a good life after MBA in marketing depends on different aspects such as Job satisfaction and salary among others. The average salary ranges from 4 to 6 lacs rupees per annum in India. The average salary in Canada is 56,377 dollars per annum while in the USA it is 91,000 dollars per annum. The salary differs through the profile. Some of the profiles are:
- Marketing Manager: A marketing manager develops and executes different marketing strategies to optimize profit and meet the needs of the consumer. They work in varying industries such as advertising industries, hospitals, financial institutions, and retail companies among others. The average salary of a Marketing Manager in India is 684251 rupees per annum. In Canada, it is 63,729 Canadian Dollars while in the USA it is 66,308 dollars.
- Brand Manager: A Brand Manager develops brand strategies to help expand and grow the brand. This is done by creating and implementing brand plans and using data to direct towards the profit both short and long term. The average salary of a Brand Manager in India is 10 lacs per annum. In Canada, it is 70,256 Canadian Dollars per annum while in the USA it is 71,167 dollars per annum.
- Sales Manager: Life after MBA in Marketing as a Sales Manager involves development, forecast, and analysis of sales. This includes making action plans to boost sales. The average salary in India per year is Rs 5 lacs. In Canada, it is 60,882 Canadian Dollars per annum while in the USA it is 77,459 Dollars per annum.
- Advertising manager: Life after MBA in Marketing as an advertising manager involves developing and managing the company’s advertising strategy. They manage discussions with sponsors and agencies to boost sales. The average salary of a person in this profile is around 5 lacs rupees per annum. In Canada, it is 60,684 Canadian Dollars per annum while in the USA it is 65,405 Dollars per annum.
- Life after MBA in Finance
Life after MBA in Finance Management is the application of knowledge and skills acquired during the specialization. This includes accounts and finance management of the company to achieve certain financial goals. After completing the course, the student has in-depth knowledge of asset management, pricing, financial planning, and risk management among others. One can spend life after MBA in Finance in the following major profiles:
- Investment Banker: An investment banker raises capital by issuing securities. It can be either debt or equity. He/She may undertake several financial activities for the client. The average salary of an Investment Banker in India is around 10 lacs per annum. In Canada, it is 85,000 Canadian Dollars while in the USA it is 76,763 Dollars per annum.
- Wealth Manager: Life after MBA in Finance as a wealth manager involves the responsibility to manage investment, conduct financial planning, and assist to preserve and generate wealth. They offer financial advice to their clients. The average salary for a wealth manager in India is 8 lacs rupees per annum. In Canada and the USA, it is 62,000 Canadian Dollars and 81,040 Dollars per annum respectively.
- Risk Management Analyst: A Risk Manager manages the risk to a company or organization, its customers, employees, assets, reputation and the interests of the stakeholders. They manage the risk by avoiding, reducing, or transferring the risk. The average salary of a Risk Manager in India is 10 lacs per annum. In Canada and the USA, it is 93,000 Canadian Dollars and 1,14,005 Dollars respectively.
- Corporate Financial Manager: A Corporate Finance Manager identifies and secure acquisition and merger deals, manages and invests large monetary funds, and buys and sells financial products. Large transactions for a business are handled by these Corporate Financial Managers. The average salary of a Corporate Financial Manager in India is 18 lacs per annum. In Canada and the USA, it is 73,531 Canadian Dollars and 93,197 Dollars respectively.
- Life after MBA in Operations
Life after MBA in Operations revolves around planning, supervising, and organizing in the context of manufacturing, providing services, or production. After completing this course, a student’s analytical and organizational skills are increases. Below are some job titles expected after doing MBA in Operations Management:
- Operations Executive: An Operation Executive develops strategic goals of operations by communicating with higher-level management. They create and manage the company’s financial capital budget and expenses. The average salary of an operations executive in India is 3 lacs per annum. Whereas in Canada and the USA, it is 79,525 Canadian Dollars and 61,521 Dollars per annum respectively.
- Area Operations Manager: An Area Operations Manager is responsible for the company’s health and safety in all aspects. The Area Operations manager reports and monitors teams and individual performances. On the other hand, they oversee whether the company’s standards, procedures, policies, and behaviours are applied. The average salary of an Area Operations manager in India is 8 lacs rupees per annum. While in Canada and the USA, it is 72,165 Canadian Dollars per annum and 65,028 Dollars per annum respectively.
- Manufacturing Operations Manager: A Manufacturing operations manager supervises and oversees the daily operations of manufacturing facilities and plants related to it. They manage employees, meet performance targets, organize schedules among other things. The average salary of a Manufacturing Operations Manager in India is 13 lacs rupees per annum. In Canada, it is 75,419 Canadian Dollars per annum, while in the USA it is 96,719 Dollars per annum.
- Operations Research analyst: Life after MBA in Operations as an Operations Research Analyst involves providing research to support project teams’ work on specific topic areas. They define business problems of the company using statistical analysis, predictive modelling, simulations, or other methods to analyze the problem and develop effective solutions. The average salary of an Operations Research Analyst in India is 7 lacs rupees per annum. Whereas in Canada and the USA, it is 59,893 Canadian dollars and 77,377 dollars per annum respectively.
- Life after MBA in Human Resources
- Research Manager: Life after MBA in Human Resources as a Research Manager is to meet a specific business target, selects the appropriate methodology of research and the supporting techniques. The Research Manager then develops the research instrument according to the methodology selected. The average salary for a Research Manager in India is 9 lacs per annum. In Canada, it is 69,000 Canadian Dollars per annum while in the USA it is 78,619 Dollars per annum.
Other options of life after MBA in Human Resources include
- HR Generalist
- Staffing Director
- HR Policy Advisor
- Technical Recruiter
- Compensation Manager
- Employee Relations Manager, etc.
Life after MBA abroad
Life after MBA in USA can be seen in two ways. One, you did your MBA from a college in the USA. Second, you did it from somewhere else in the world. As a US student, it is more likely you get a job in any US company as they prefer a student who has studied MBA in the USA. So, it can be said that life after MBA in USA is easier for those who did their MBA degree from the USA itself. Local education increases the chance of job opportunity as well strengthen the job profile. On the other hand, it is not very less likely to not get a job after doing your MBA from a reputable institute either in India or anywhere in the world.
Life after MBA in Canada much easier as compared to that in the USA. It’s because the Canadian Government sponsors three-year work visas for those who have completed their degree from Canada. Even if one completes their MBA degree from another country, life after MBA in Canada is easier as Canada depends on the immigrant population and the Canadian government does support immigration.
How is Life after MBA from IIM /FMS/ISB, etc.
A major change that is visible in life after MBA from FMS or IIM is the salary as well as reputation and preference one gets after. When it comes to salary, the standard of life after MBA from FMS and standard of life after MBA from IIM is far better than other institutes. A candidate can earn more than 25 lacs rupees per annum as the starting salary. After gaining experience they can even earn more than 40 lacs per annum.
Many students have a question of ‘how hectic is life after MBA’ on their minds. In addition to the above things, one must also expect a significant change in work schedule as life after MBA from FMS, IIM, etc. gets much busier, isolated and removed. One needs to manage his/her social life with timely family vacations, get-togethers as much of the current workforce complain of exhaustion.