This is a question that I get asked quite often – We normally hear only the ones who get highest salaries, but most of us do not know what is the average salary that a MBA should look at (if he/she has passed from premier Business School)
Here are some of the figures from the survey conducted by iimjobs.com – These numbers were collated based on salary data administered between May 16 to 31, 2010 with over 5600 MBA graduates sharing their salary data anonymously.
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Average MBA Salaries for Systems (I.T) Sector
Salaries grew fastest at 12.7% for professionals working in IT sector, taking them closer to their batch mates working in Finance and Consulting. Average salary for MBAs working in IT sector was observed to be 12.9 lakhs for 3 to 4 years of experience and 17.3 lakhs for 5 to 7 years of experience.
Average MBA Salaries for Sales & Marketing Sector
Professionals in Sales & Marketing saw 11.8% growth in compensation this year. Average salary for MBAs working in Sales & Marketing was observed to be 9.8 lakhs for 1 to 2 years of experience, 13.6 lakhs for 3 to 4 years of experience and 18.1 lakhs for 5 to 7 years of experience.
Average MBA Salaries for Finance Sector
Average salaries in Finance was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.3 lakhs for 3 to 4 years of experience and 19.6 lakhs for 5 to 7 years of experience.
Average MBA Salaries for Consulting Sector
Average salaries in Consulting grew around 7.6% and was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.7 lakhs for 3 to 4 years of experience and 18.4 lakhs for 5 to 7 years of experience.
Attrition Rate for MBA Graduates
Attrition rate was observed to be highest at 13.6 % for Finance graduates with 3 to 4 years of experience. It was lowest at 6.9% for professionals in General Management/Consulting. Average Attrition rate was 11.2%.