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Average salary package for PGDM graduates in India
Introduction:
The Post-Graduate Diploma in Management (PGDM) is a well-known management course that several B-schools in India offer. Due to their extensive knowledge and hands-on experience in business management, PGDM graduates are highly sought after by a variety of businesses. As the demand for management professionals is on the rise, it is essential to know the average salary package for PGDM graduates in India. In this article, we will discuss the same and understand the factors that affect the salary package.
Factors Affecting Salary Package:
Several factors influence the salary package offered to PGDM graduates. The factors are:
Institute Reputation: The reputation of the institute where a student completes their PGDM program plays a crucial role in determining their salary package. Institutes with a good reputation and ranking in the market have better placement records, and thus their graduates get higher salary packages.
Industry: The industry in which the student gets placed after completing their PGDM program also plays a significant role in determining their salary package. Industries such as consulting, finance, and marketing offer higher salary packages compared to others.
Work Experience: Work experience is another essential factor that affects the salary package of a PGDM graduate. Candidates with prior work experience get better salary packages compared to freshers.
Location: The institute’s and the job’s location both have a significant impact on the compensation package. Greater compensation packages are available in metro areas like Mumbai, Delhi, and Bangalore than in other cities.
Average Salary Package for PGDM Graduates:
The average salary package for PGDM graduates in India varies based on the factors mentioned above. The average compensation package offered to PGDM graduates in 2021–2022, according to the Global Institute of Business Studies (GIBS), Bangalore, placement report, was Rs. 7.4 lakhs annually. The highest salary package offered was Rs. 15.5 lakhs per annum, and the lowest was Rs. 6.4 lakhs per annum.
Similarly to this, the Indian Institute of Management’s placement report indicates that the average compensation package offered to PGDM graduates in 2020 was Rs. 26.18 lakhs annually. The highest salary package offered was Rs. 55 lakhs per annum, and the lowest was Rs. 16 lakhs per annum.
As mentioned earlier, the salary package offered to PGDM graduates depends on various factors, and the figures mentioned above are just an average. Graduates from top-ranked institutes with prior work experience and placement in industries such as consulting and finance can expect higher salary packages.
Industry-wise Salary Packages:
The salary package offered to PGDM graduates also varies based on the industry they get placed in. Here are the average salary packages offered in some of the popular industries:
Consulting: The consulting industry is known for offering high salary packages to management professionals. The average salary package offered to PGDM graduates in the consulting industry is around Rs. 10-12 lakhs per annum.
Finance: The finance industry is another sector that offers high salary packages to management professionals. The average salary package offered to PGDM graduates in the finance industry is around Rs. 9-10 lakhs per annum.
Marketing: The marketing industry is also known for offering good salary packages to management professionals. The average salary package offered to PGDM graduates in the marketing industry is around Rs. 8-9 lakhs per annum.
Information Technology: The information technology industry is one of the most popular industries for PGDM graduates. The average salary package offered to PGDM graduates in the IT industry is around Rs. 6-7 lakhs per annum.
Conclusion:
Due to their extensive knowledge and hands-on experience in business management, PGDM graduates are highly sought after by a variety of businesses. The salary package offered to PGDM graduates depends on several factors such as their institute’s reputation, industry, work experience, and location. While the average salary package for PGDM graduates in India is around Rs. 6-7 lakhs per annum, graduates from top-ranked business schools in India with prior work experience and placement in high-paying industries like consulting and finance can expect much higher salary packages.
While pay should not be the sole criterion when choosing a career, it is crucial to keep it in mind. It’s also important to consider other elements like growth possibilities, work-life balance, and job satisfaction. PGDM graduates should choose employment that not only pays well but also affords them the chance to advance their careers.
However, graduates from the top B-schools in India like IIMB and XIME, GIBS Bangalore usually earn higher salaries compared to others. If you are planning to pursue a PGDM programme in Bangalore, it is essential to choose a reputed B-school to ensure a good placement and a decent salary package.
GIBS Business School: Top PGDM College in Bangalore
GIBS Business School is one of the emerging B-schools in Bangalore, located in the major part of the city. The institute offers a two-year full-time PGDM program, approved by AICTE, which is equivalent to an MBA. The PGDM graduate program at GIBS is designed to provide students with the practical knowledge and skills required to excel in the corporate world.
The approach of GIBS Business School is distinctive and incorporates case studies, field trips to businesses, experiential learning, and guest lectures by business leaders. The institute also provides its students with 100% placement aid and an average annual compensation package of about 7.4 lakhs. The institute has tie-ups with several reputed companies across different industries, which helps students secure good placements.
GIBS Business School provides specialist programs in the fields of Business Analytics, International Business, and Entrepreneurship in addition to the basic PGDM degree. These courses are created to give students the particular information and abilities they need to succeed in their chosen fields.
Additionally, the GIBS Business School boasts a cutting-edge facility that occupies 4 acres of space. The campus is furnished with contemporary conveniences such as a restaurant, computer lab, auditorium, library, and recreational areas. Additionally, the institute features a strong faculty team made up of seasoned academicians and business specialists.
In conclusion, GIBS Business School is a top business school in Bangalore, offering a comprehensive PGDM program with a unique pedagogy and specialized programs. If you are planning to pursue a career in management and looking for a reputed B-school in Bangalore, GIBS Business School can be a good option to consider.
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