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Graduates with MBA degrees are in demand, and that demand keeps growing. In its “2019 Year-End Poll of Employers,” the Graduate Management Admission Council (GMAC) reported that 75% of employers surveyed intended to hire MBAs, with 85% citing that the number would be the same or even increase from the year before.
Great news! But what type of MBA should people pursue and what type of job should they seek?
In order to help, we put together a list of what we think are the best careers for those with an MBA.
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1. Brand Manager
A brand manager typically starts with the basics like segmentation of the customers which makes it easier to target the group that they plan to cater to. They use different methods like demographic, psycho graphics, geographic and behavioural studies.
Brand managers are responsible for creating a brand identity for the product; the brand should be distinguishable from the clutter in the market. Typically a brand manager is appointed for a specific product i.e. a brand manager would be appointed for Axe Deodorants rather than being appointed for HUL as a whole.
Initially, Brand Managers get a salary package of 6-8 LPA. With experience and adequate skills, they can get a salary ranging from 10-12 LPA.
2. Digital Marketing Executive
Digital Marketing Courses after MBA are counted as one of the most job-oriented courses after MBA Marketing that can let you appreciate better career opportunities.
As per the reports of Economics Times- Digital Marketing Career is one of the top 3 career options to look out for in 2017.
Digital Marketing is gaining so much ground that soon ‘Digital Marketing’ will become just ‘Marketing’.
Before you doubt this statement, let me tell you, that we are cornered by digital technologies such as smartphones, tablets, smart TVs, smart cars, and now even smart homes.
Moreover, recently our digital consumption has gone up radically, a study approves it that found the US consumes more Digital Media than TV.
Check out our ultimate guide on Why Every MBA Graduate should Learn Digital Marketing.
Video Credit: Careers and Money
In the digital marketing field, students can opt for various areas like:
1. SEO (Search Engine Optimization) Manager
2. PPC (Pay Per Click) Expert
3. Social media manager
4. Content writer
The salary package of a digital marketing manager ranges between 5-7 lakh per annum. With the experience of many years and developing skills, packages can reach up to 12-14 lakhs per annum.
Several organizations and medium-scale companies are ready to pay a hefty amount to employers with excellent creativity and knowledge in this domain.
3. Research Manager/ Senior Analyst:
Marketing research is a field that supports other marketing functions. Some companies have their own marketing research departments while others prefer to outsource their marketing research to other firms which specialize in this field.
Marketing research primarily involves a lot of number crunching and interpreting the outcome of that.
Marketing research revolves around finding patterns in the data that would enable companies to predict the behavior of consumers and identify trends that would enable them to be prepared for a coming change in the market.
The starting salaries in this field are competitive and with the right skills, the scope for negotiating salary is good.
Market Research Analysts receive a starting salary package of 6-8 lakhs per annum, which can turn into 15-20 lakhs per annum with experience.
4. Sales Manager
Though MBA aspirants mostly aspire to be hired as brand managers right out of college, in reality, most of the fresh hires from B-Schools are offered sales positions.
The responsibilities of a sales manager would depend on the organization and the sector. Once the marketing team is done with the go-to-market strategy, it is up to the customer-facing sales professionals to take it from there on.
Sales Managers get a starting package of 5-7 lakhs per annum. With experience and skills, they get a salary package ranging from 8-9 lakhs per annum.
5. Account Managers/ Executives
Another interesting field in the marketing space is advertising.
Advertising would appeal to people who are creative and enjoy working in a chaotic environment with little structure.
We would limit our discussion to account management in advertising agencies which is a career choice post MBA.
6. Business Development Manager
A Business Development Manager works to improve an organization’s market position and achieve financial growth.
This person defines long-term organizational strategic goals, builds key customer relationships, identifies business opportunities, negotiates and closes business deals, and maintains extensive knowledge of current market conditions.
Business Development Managers work in a senior sales position within the company. It is their job to work with the internal team, marketing staff, and other managers to increase sales opportunities and thereby maximize revenue for their organization.
Business development managers have an initial annual salary package of 6-8 lakhs per annum, which further increases to 10-12 lakhs with experience, time, and skills development.
With the evolving career options, the marketing and media sector appears as a prominent career option for them.
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Grab the chance & ensure a fruitful digital marketing career. Best of luck!
And that’s it!