Jobs After MBA From IIM That Pay The Highest
Find out what are the career prospects for an MBA here and find the highest paying jobs after MBA from IIM. By IIM Skills – online CAT coaching
An MBA degree from IIM is a prestigious degree that is accepted worldwide. Many students in India and outside India struggle for admission to IIM. IIM offers MBA in different streams. So there are different types of MBAs. There are many high-paying jobs after MBA from IIM. You can choose the course you are interested in.
More than two-thirds of the candidates in the IIM have prior work experience. About one-fourth of candidates have more than 3 years of work experience. Candidates quit their jobs because an MBA degree has many benefits for a career. Also, jobs after MBA from IIM pay very highly.
IIM students are the most employable, trainable, and most talented graduates out of all MBA colleges in India. All CAT aspirants aim to get a seat in the IIM. This is because IIM offers the best MBA program in India. MBA from IIM helps students learn and gain knowledge from the best faculty and among the best students.
This makes IIM graduates receive the highest pay packages out of any MBA colleges in India. There are many high-paying jobs after MBA from IIM. An IIM graduate can expect a salary of 20 LPA right out of college.
IIMs are also consistently ranked above any other business school in India in every survey. This is because the IIM performs the best in certain parameters for any institute.
The business schools are ranked on the basis of various parameters such as management, learning experience, college life, future orientation, and placement record.
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There are different specializations from which you can get an MBA degree. Those are listed below:
The following fields have the most popular demand for MBA graduates –
- Marketing
- Human Resources
- Finance
- Accounting
- Sales
- Healthcare
The subjects that the students learn in the IIM help them gain unmatched knowledge of the specific fields. In addition to that, they are also taught how to think out of the box and look for innovative solutions. They are encouraged to come up with ideas that have not been used or heard before.
The 2 years of an MBA program at IIM are filled with a curriculum that molds the leaders of tomorrow. The course is very intense and is not a cup of tea for any ordinary student. this is why there are many high-paying jobs after MBA from IIM.
MBA from IIM graduates are in very high demand. This demand keeps on growing with an increasing number of multinational corporations offering job roles to IIM graduates.
But what are the jobs after MBA from IIM? Let us find out. We have put together a list of the highest paying jobs after MBA from IIM. These are:
This is a position where the person manages the marketing operations of the company. The marketing manager is accountable for overseeing the implementation of different marketing activities related to a particular product or service in the market.
A marketing manager is required to be creative. There are situations that could be anticipated and some that come as a surprise or even a threat. The planned activities include advertising, press conferences, speaking engagements, printed interviews, public endorsements, etc. Unplanned instances are surprising and catch the marketing manager unprepared.
A marketing manager must also know how to handle crisis situations like an issue with the company’s products, bad press attention, company individual misspeaking or misbehaving, etc., and ensure that these events do not ruin the image of the company in the market.
A marketing manager is the face of the company to the market or to the consumers. They must act as the spokesperson on behalf of the company on many occasions. This requires them to be street-smart and have the presence of mind to deal instantly with challenges that come without warning.
They must be a friendly person with good communication skills and an open personality that puts others at ease. There are many more high-paying jobs after MBA from IIM.
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Management Consultant
Management consulting is another high-paying job after MBA from IIM. There are many consulting firms like the Boston consulting group, Bain, McKinsey, Ernst and Young, KPMG, PriceWaterCoopers, and many more.
These management consulting firms are the best in the world and offer the best opportunities for growth if you are interested in management consulting.
The work of a management consultant involves helping organizations and corporations enhance efficiency and offer solutions to optimize their operations by analyzing available data concerning the operations of the company.
This may involve adopting new technologies or restructuring the company, among many other options.
A management consultant needs to be strong in analytical and strategic thinking. They must have great observation skills and should be strong in finding solutions to any kind of problem. This profession would suit someone who thinks of themselves as a problem-solver.
Another skill needed for a management consultant is communication skills. This is because they would be dealing, most of the time, with different businesses and in teams.
This would require them to communicate effectively their ideas and thoughts. You will also need to deal with crisis situations many times, but unlike the marketing manager, you likely won’t have to deal with the press.
Investment Banker
If you are a person who can see themselves as working closely with a financial services company dealing with investment banking, sales, trading, wealth management, brokerage, etc., this might be the job for you. You will be raising capital for individuals, companies, and organizations.
As an investment banker, you will have to deal with large and complex dealings including restructuring, merging, and sale for your client.
You will need to make decisions for investing the money based on your speculations and the more money you make for your client, the better the investment banker would you be.
As an investment banker, you will have to be excellent with calculations, fast and strong verbal communication as well as written, and the ability to work for long hours than your peers at a 9 to 5.
You might have to miss many other events in your life and this profession is mainly suited to highly productive people.
Some of the best investment banking firms that can offer you jobs after an MBA from IIM are Goldman Sachs, Morgan Stanley, JP Morgan and Chase, Merrill Lynch, and more.
Business Analyst
This role requires you to analyze and make conclusions on the needs of any business organization with the help of available data. The aim would be to provide technological solutions that involve computer software and tools.
Business analysts mostly concern themselves with any particular project and give business insights based on the data collected.
The job profile of a business analyst includes case study and planning, supervision, conveying requirements and streamlining, assisting in better business decisions. The business analyst would also be required to communicate the details of the analysis to the client or the stakeholders.
Financial Advisor
These professionals are specialists in financial studies and give financial advice to the client in relation to any problem or an issue. He/she is considered to be a partner in the finances of the company.
They are required to give investment advice, new ventures for business, new branches, or whether the business requires more employees.
These individuals need to be strong in financial knowledge and be aware of market trends. They should be speculative enough to give sound financial advice.
A great financial advisor is an asset for any business to reach its financial goals and invest the money. They may provide advice on how to invest based on the conditions in the market.
Administrative managers
If you are a person who would like to ensure and oversee consistent business operations and administration, you might like the role of an administrative manager.
They are responsible for maintaining smooth day-to-day operations related to staff like outlining, preparation, and execution of systems of administration.
The job of an administrative manager includes managing staff for administration and recording and storing their performance and accomplishments.
They also manage financial objectives by studying and predicting supplies requirements, budgeting and scheduling for expenditures, evaluating costs, and studying variance.
To become an administrative manager, you will need skills for budgeting and evaluating expenses, quality control, staffing, organization, discipline, and motivation of employees, communicating requirements, generating reports, and finding ways to make the operations more efficient.
Human Resource Manager
The chief role of a human resources manager is to manage people inside a company or the organization.
The main functions of a Human Resources manager or an HR manager are to look after the recruiting of new talent, training new or existing employees, career development, benefits, perks and compensation of employees, employee relations, compliance with the employment laws, employee grievances, and maintaining an overall healthy and conducive working environment.
They also have to know the new employment laws that ensure compliance.
Every large organization requires at least one HR manager in every office. They are found in every business be it banking, insurance, hospitality, educational institutes, manufacturing, technology, etc.
The skills of an effective HR manager include being great at communication, great interpersonal skills, empathy, business awareness, good analytical and interpretation, adept with legal frameworks and routes, mediation and should possess integrity and be approachable.
There are more high-paying jobs after MBA from IIM.
Product Manager
The development, handling, and testing of a new product for any company or organization are looked after by the product manager.
They are responsible for making a strategy for making a new product. The product can be a physical as well as a virtual product like software or app.
They look after the functional requirements of the product that is being designed and take decisions on its features and specifications.
A product manager is required to possess a deep knowledge of product features in terms of market needs and requirements of the consumer.
They need to strategize product features decisions. They need to analyze what the market desires and what the competition is offering. They may also need to learn lessons from previous products.
They formulate a vision for the product so that it is a unique and distinct product with a signature style of the company product line.
A product manager also deals with different teams of manufacturing, design, marketing, sales, and feedback or support. This is a crucial role as the product of any company directly interacts with the consumer.
It is the value that the company is providing to the consumer in exchange for the customer’s money. The product needs to work efficiently and must have a smooth user experience. It is the job of a product manager to create a successful product.
Operations Manager
The role of an operations manager is to control and monitor the processes of production, manufacturing, and improving the business operations concerning the production or delivery of services.
It is the job of an operations manager to ensure the effective functioning of core operations of the business by managing the resources and assessing the market requirements.
You may find operations manager roles in companies like manufacturing, hospitals, technology, etc. They need to make daily as well as long-term strategic decisions concerning the core business of the company ie. generation of products.
Why should you get an MBA from IIM?
There are numerous benefits of doing an MBA from IIM, both for your career as well as your personal life. Many of these befits are expected by the students but some are surprising and not though-of by most people.
If you are thinking and are on the fence on the decision to get an MBA from IIM, and are thinking whether it is worth the effort and the money you are going to spend, you can read these points that will help you decide better:
Benefits of doing MBA from IIM
These are the reasons why there are so many big companies willing to pay high packages in the jobs after MBA from IIM.
Self-confidence
MBA graduates often claim that the most tangible and apparent impact that they feel and anyone around them notices is their increase in confidence. This is not only a professional advantage but impacts all the personal aspects of a person’s life.
this can be attributed to the feeling of accomplishment that comes after gaining knowledge and delivering good performance repeatedly.
It may also come from a productive lifestyle since the person feels much more in control of their life. It is difficult to do an MBA while maintaining a work-life balance and managing to do this is definitely going to make you feel assured.
Credibility
Although there are many ways to show your credibility in the business world, for example, doing volunteer work, or founding a small business along with your friends or a family member, and making it successful.
This will give you credibility as an entrepreneur. But the credibility of doing an MBA from IIM is the academic equivalent of these mentioned experiences.
In an MBA you do everything from volunteering, assisting small businesses, and creating a small business as a demonstration, in the form of projects. This is the ultimate form of credibility for the business world.
Transferable skills
There are many skills you learn from your peers in the IIM. IIM boasts of the best talent pool in the country have fought and cleared difficult stages of the entrance exam.
The knowledge you gain and the skills you learn in an IIM are versatile and can be used across many industries. These skills include leadership, analytical and critical thinking, communication skills, planning and strategic thinking, and innovative thinking.
Contrary to technical skills like engineering, law, and commerce, MBA gives you skills that are useful and applicable in all types of industries as well as throughout your life.
Curiosity
Doing an MBA displays the curious nature of the candidate and his hunger for knowledge o the business world. There are many exciting things going around all the time in the business world and there is so much to learn.
MBA gives the candidates exposure to and the ability to understand various business decisions. This helps them stay aware of the latest trends and developments in the corporate world.
Strategic thinking
Strategic thinking helps in planning, implementation, and ensuring the smooth flow of various functions. This is not applicable just in your professional life but also in your personal life, in your life goals.
Strategic thinking helps you think in terms of the pros and cons of any decision and see the long-term impact of your decisions.
Better communication
This is a skill that is clearly essential for anyone, not just MBA graduates. Communication in professional life is important for conveying your thoughts and ideas to your team, your superiors, and your juniors.
But clear and effective communication is also important in personal life, to communicate with your friends, family, and spouse. Good communication is essential in everyone’s life in every aspect of life whether formal or informal.
Self-discipline
to complete an MBA degree from IIM, you will be grilled every hour of every day. There are classes, study sessions, projects, assignments, events and there is also personal life.
You only have limited time during the day and you also need sleep. This will mean sacrificing unproductive habits. As you proceed through the course, you become much more disciplined and efficient. It is not possible to complete an MBA without this skill.
Better time management
This may be an effect of the habit of self-discipline or its cause. But both the habits go hand in hand. There is no free time. Time management is key to handle the many responsibilities and activities you will have in an MBA program.
It is important not to exhaust yourself and burn out. But you also have to test your limits and deliver your maximum every day. Since there are limited hours in a day, it depends on you what activities you choose to keep and what you will let go of.
Broader worldview
An MBA involves doing many internships and exposure to real business scenarios. You get to learn about different aspects of the world- social, political, economic, etc.
You also meet different kinds of people coming from different backgrounds and having varied life experiences, and distinct goals.
Network of colleagues
Many experts believe that IIM is the best place to network, especially for a student. You will meet many industry leaders in seminars and workshops, you will be taught by renowned professors and you will form a close group of friends who are going to be sitting in prominent positions in the future.
Revitalized career
There are situations where employees do not get higher and more significant roles in management since they lack an MBA degree. MBA can improve their career prospects and can get them more important positions with a much higher salary.
This will provide new energy for their career.
Higher-income
An MBA from IIM is the highest paying degree among any other college in India. The average salary offered to an MBA graduate from IIM beat any of the offers from any other MBA college in India.
This is because an MBA from IIM is considered the most valuable MBA degree in the corporate world. There are many high-paying jobs after MBA from IIM.
Better management of personal finances
This is a non-professional benefit but is of huge benefit. Finances are a part of everyone’s life. The finance skills MBA students learn in college can be applied to their personal life as well.
They will be much better at seeing the short and long-term impact of their expenditure. They will be able to assess risk and benefits much better and deal with economic fluctuations and changes in the market promptly and smartly.
Increased innovative thinking
The curriculum in an IIM is not just based on statistics and numbers. These numbers are after all used to devise innovative and out-of-the-box solutions to many business and economic problems. Thinking creatively is not just a virtue of the artists but also for business managers.
We hope reading this article on careers and jobs after MBA from IIM helped answer your queries. For more such articles on CAT preparation, visit our online CAT exam blog.
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