The MBA is one of the most sought-after graduate programs in the world. Whether you are looking for a jump in the corporate career ladder, starting your own venture or hoping for a career change, an MBA degree could be more than handy. With MBA, there are always questions around like if MBA is the right next step, what’s the return on my investment or where to do the MBA from. But, there is another important question that people ignore sometimes – what’s after MBA? MBA students often see the degree as a way to a career change. But, many candidates don’t always have a strong idea of what they want to do after the completion of MBA. In this article, Parinita Gupta will talk about the top industries to work after MBA in India.
Top Industries to Work after MBA in India
By Parinita Gupta
From past one decade, there is an indisputable rise in Management industry. The demand for MBA graduates has increased. According to Graduate Management Admission Council (GMAC) in the year 2015-16 more than 900 employers in 50 countries had hired MBA graduates from all over the world. In 2018 – 19, more than 70% of employers are planning to hire MBA graduates all across the world.
Job opportunities and the pay scale of an MBA graduate is comparatively more than a graduate. This fact has encouraged students to continue their Masters for better opportunities. But the question which always arises in mind before taking upon MBA, which field has a better scope? Every field has its own importance but there are few fields in the industry whose demand is steady and constant. By the end of this article, you will understand various fields which are in demand and help you to decide on pursuing MBA on a particular field.
The table below shows the statistics on the growing percentage of all the top sectors to work Post-MBA in India
Fast-moving Consumer Goods (FMCG)
FMCG segment is the fourth largest sector in India. FMCG industry is an industry which deals with the fields like production, distribution, sales, marketing and customer satisfaction for the varied product categories like food and beverage, personal care, pharmaceuticals, plastic goods, paper and stationery, and household products, etc. FMCG industry is considered to be an evergreen industry.
This industry is always in demand and the job opportunities are also quite high. General function roles in FMCG industry includes sales, supply chain, finance, marketing, operations, purchasing, human resources, product development, and general management. So pursuing a Masters degree in any functional role will be an added advantage for a student to grow forward in the industry.
Banking, Financial Services and Insurance (BFSI)
In the year 2008, there was an economic slowdown in the world. Despite the degrading situation in the economy, the only industry which remained constant is the Banking and Finance Industry. According to BFSI, Banking and Finance Sector employs more than 40-45 lakh of people and it is estimated to grow its count to 80-90 lakhs by 2022.
Banking sector had become a service-oriented industry with loyal customers. Pursuing MBA in Banking or Finance helps a student to join in different banking positions i.e banking relationships, sales, operations, analysis, and product management etc.
Related Article: Careers and Jobs after MBA in Finance in India
Information Technology (IT) and Information Technology enabled Services
Every company, directly or indirectly, depends on IT services. Day to Day activities is fulfilled by these IT graduates itself. It is one amongst the top 10 most valued industry sector in the world. Opting masters in IT can help a student to join the top level management of the organization as they are capable of making the business efficient and streamlined. IT master graduates are hired by the top most companies with lucrative salaries. Demand for MBA Graduates is very stable as it deals more of developing the productivity of the products and the organization’s functionality.
Related Article: Information & Communications Technology (ICT) Jobs in India
E-Commerce is a revolutionary step in the retail industry. In the past decade, E-comm sector had done US$ 63.7 billion of business and it is expected to reach about US$ 250 billion by 2020. E-commerce had changed the fate of many small entrepreneurs and brought the widest range of choices to the customers, offering customers the widest choice of products and services at the lowest rates. Customer tends to get attracted and get more benefitted through online shopping, so the demand for e-comm is growing more and more. Professional assistance is required to handle customers, orders and deals in e-comm industry.
Qualified professionals, technical heads and marketing leads are quite less in the industry than compared to the demand. So Opting MBA in E-comm sector will be advantageous for a management student to grow in the industry. Benefits and salary are also comparatively high as the demand is more in the sector.
Retail management is considered to be the toughest task. Managing the tasks, maintaining the stores, maintaining the sales, profits, and demand is a bit lengthier process yet it provides more profits. According to the National Skill Development Corporation, about 1.7 crores of job roles will be available just in the retail sector to maintain the demand of the growing population. The more the demand more will be the opportunities for new jobs.
MBA in Retail management helps the student to excel in the core subjects like Marketing Management, Services Marketing, Financial & Managerial Accounting, Statistics for Business Analysis and many more. Professionals with good experience in Retail management help the growth in the industry towards the higher level of jobs.
Business consulting jobs are highly on demand. They help in restructuring the companies by staffing the temporary and permanent staff to the organization. Consulting is a sector which has a large scope of development in business direct functions. MBA in consulting is the highly demanding job role with high income and perks package. According to the GMAC, the percentage of hiring MBA graduates in the consulting firm had increased by 10% which shows the demand for master graduates in the industry. Topmost companies get tied up with the consulting companies for their staffing needs.
Related Article: Management Consulting Careers and Jobs in India
According to GMAC, demand for the healthcare industry is growing with a growth ratio of 12% per annum and by 2020, 21% of job roles are extensively assigned for MBA graduates in the healthcare industry. Hospital sector is similar to the banking sector. Both of them are evergreen industries where the demand for the employees and master graduates are extensively high all around the world.
Positions like a senior manager, business development, health information managers, medical record officers or administrators, health insurance managers, medical transcriptionists or editors, quality analysts in research centers, and financial directors are main roles assigned to a master graduate in the healthcare industry.
Top 10 MBA Jobs (by salary and satisfaction)
Why FMCG tops every year as the most preferred industry for MBA grads?
Sochne waali baat hai…
FMCG is an industry which has a higher demand for customers all around the world. Most of the MBA graduates prefer to join FMCG companies. FMCG is a field which is not restricted to one stream. It is a diversified sector with many substreams like production, manufacturing, marketing, finance, advertising and many more. An Area in FMCG can be easily adaptable for any student. Apart from the adaptability, the growth in the industry is very high. According to the IBEF research, FMCG is the 4th largest sector in India and it is expected to grow to $74bn in size by 2020. FMCG is the most stable and expected a double-digit growth in the future.
The table (at the beginning of the article) reveals that there is a lot of growth and scope in the FMCG sector as there is a lot of demand in the industry. There are many job opportunities for the Master graduates to excel their career. The pay scale will also be high as there is a demand in the industry. If we go through the statistics, FMCG is the only industry which is stable and constant. This is the reason why many graduates prefer FMCG over every other industry.
Author Bio: Parinita Gupta is a full-time banking professional. Additionally, she is also a passionate blogger and digital marketer.
She mostly writes about the Banking & Finance, Technology, and FinTech sector. But, she also enjoys writing on other topics as well. You can follow her on Twitter.
Featured Image Source: ISB