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Average Salaries of MBA

While doing an MBA degree, students can opt for work experience in the field by choosing to do a summer internship. It involves working with a company after the first year of your MBA studies. The students can work in the corporate world and try out the concepts which they have learned in the real world. Then they come back to the class to complete the MBA course.

These internships can be taken up by the students when they have their summer vacations during the MBA degree course called as summer internship. They last for about 3 months. It gives them a chance to work in the market and prepares them better for when they will take up an actual job after doing MBA. Some students manage to complete a number of internships in the time which they get.

Some companies come to the college campus and select students for the internships based on merit. Students can also contact the company which they want to work with and apply for an internship. The performance during internship will always be graded. Internship guide at the company will be contacted by the college and asked to give a report about your performance. Also, you will be required to complete and submit a thesis about your work experience.

The work procedure during this internship will determine the kind of placements offers you will get when you complete your MBA degree.

The main arguments in favor of a summer internship are:

• The way the internships are awarded is the same method which is followed for the final job placements. This is to familiarize the students with the concept of placements.

• The students get to know about the functioning of an organization when they complete the project given by the company. They can decide which field they want to work in after completing their degree and this helps them in their second year of MBA.

• As the student puts the ideas and concepts which he learned in class to practice while doing his summer internship, he gets a better understanding of the concepts.

• If the student performs exceptionally well, the company may offer him a pre placement offer (PPO) after the first year of MBA. This is a big career leap for him.

There are around 4500 business schools in India. The top schools among these charge a fees of around 12-15 lakh per student. Placement interviews in only these top schools have seen offers of 9 lakh and more. Around 40% of the business schools see placements where companies offer only 3 lakh or less as the starting salary.

The average salaries of MBA graduates in different streams are given below:

• For a Human Resources Manager, the starting salary is around 2 lakh and it can go up to 12 lakh over time.

• For a Business Analyst with an MBA degree in IT, the starting salary is 2.70 lakh and it can go up to 11 lakh over time.

• For a Marketing Manager, the starting salary is 3 lakh and may go up to 17 lakh.

• For a Business Development Manager, the starting salary is 2.5 lakh and can go up to 15 lakh.

• For a Project Manager with an MBA degree in IT, the starting salary is 5 lakh to 19 lakh.

• For Assistant Human resources (HR) Manager, the salary package starts from 2 lakh and can go up to 8 lakh.

 

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