There is cut-throat competition for getting jobs in the Indian market today. As per the ILO's (Indian Labour Organisation) World Employment Social Outlook Report, the unemployment rate in India is an average of 3.5%. Which means people are fighting to get jobs they’re passionate about. With the rise in MBA colleges, the quality of candidates is getting compromised. In such a scenario, you’d need to decide a career path and work towards it right from the beginning. Being a management graduate gives you many versatile options. Let’s have a look at the career paths for MBA graduates.
1. Business Analyst
This career path is quite diverse because it finds its applications across all industries of the market and all departments of a company. The analysis of the business is crucial for all decisions as it helps derive crucial insights which improve and enhance the quality of the business processes and deliver efficient output. The U.S Bureau of Labor Statistics estimates the need for business analyst job roles to grow to 14% by 2024. They’re responsible for solving business problems and help the business maintain its competitive advantage. They need to possess in-depth business skills and knowledge. The average salary for a Business Analyst is around 5 lakhs per annum.
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2. Digital Marketing
Internet users are pegged to reach 627 million in 2019, says a report in the Economic Times of which 97% of the people use the internet on mobile phones. That’s precisely the reason why businesses are now transforming rapidly to adopt digital practices to market their products. This has given rise to demand for skills and jobs in the same field. As per the existing top job portals, it’s predicted that there will be 60-65 lakhs of digital marketing job openings by 2025. Digital marketers need to have a knowledge of Social Media Marketing, Search Engine Marketing & Optimization, Email Marketing, Content Marketing, Influencer Marketing, etc. The average salary of a digital marketer is around 4.5 lakhs per annum at the start.
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3. Sales and Business Development
Being in sales and business development is an excellent option if you’re passionate about growing the business. The business development executive/manager is responsible for business growth by getting in new, potential leads and increasing customer acquisition. Right from coordination between teams; to know the products and services in and out, one needs to have strong communication, negotiation, and interpersonal skills. Good customer service also is a part of the same job. The average salary for a sales and BD professional is about 4 lakhs per annum.
4. Product Management
Most MBA marketing graduates move on to take up a career in product management. A product manager is someone who nurtures the product into fruition. Meaning, they are responsible for managing the entire product development process right from the idea stage to the design, production, and marketing stage. The product is their baby and they’re expected to decide the course of its life cycle. It goes without saying that a skillful project manager contributes greatly to the success of the company. The average salary drawn would be 7 lakhs per annum.
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