Average MBA Salary in USA 2024, Check Now
Average MBA Salary in USA 2024: According to the US Bureau of Labor Statistics and US News, 90% of MBA graduates land jobs with an average base pay and joining bonus of USD 105,000 (INR 87 Lakh), with the average MBA salary in USA in 2024 being USD 115,000 (INR 96,21,802). This indicates a high demand for MBA graduates because of their management and leadership abilities.
The greatest place for an MBA is the United States, renowned for having the largest economy in the world and an excellent educational system. With management positions predicted to expand by 9% between 2020 and 2030, creating 906,800 new opportunities, the entry-level MBA salary in USA is very alluring.
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Average MBA Salary in USA 2024
In the United States, MBA graduates fetch competitive wages across various specializations, reflecting both skill requirements and industry demand.
For common career roles, the average monthly salary for MBA graduates in USA in Indian Rupees is broken down here.
Job Title | Monthly MBA Salary in the USA (in INR) |
|---|---|
Information Technology Management | INR 11.01 lakh |
Business Development Manager | INR 9.39 lakh |
Marketing Manager | INR 9.35 lakh |
Financial Manager | INR 7.45 lakh |
Health Administration | INR 7.29 lakh |
Project Manager | INR 6.05 lakh |
Financial Advisors | INR 5.63 lakh |
Human Resources | INR 5.57 lakh |
Data Analysts | INR 5.33 lakh |
Operations Manager | INR 5.04 lakh |
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Best Paying MBA Careers in 2024
The starting average MBA salary in USA offered by recruiters is USD 131,200 (INR 1,09,37,580) annually, citing the US Labor Report 2023. Stanford graduates typically earn over $160,000 USD (INR 1,33,38,520) annually. In the USA, the pay for an MBA varies greatly. Your school, your area of expertise, and the recruiter are just a few of the many variables that affect this.
Depending on your area of expertise, the average pay for an MBA in the USA varies. Here, we've covered five prominent MBA specializations in the USA along with potential career paths:
Investment Banking
Some of the highest-paying MBA positions in the US are found in investment banking. This speciality looks at an organization's objectives and requirements while attempting to raise money through investment, usually in the form of a retainer. One can create plans and strategies for the company's advantage if they have complete access to all of its financial data.
In the United States, an investment banking MBA typically earns USD 65,000 (INR 54 lakh) annually.
The following lists the positions and typical pay for an MBA in investment banking in the United States:
Job Title | Average MBA Grads Salary in USA in USD (per year) | Average MBA Grads Salary in USA in Indian Rupees (per year) |
|---|---|---|
Financial Analyst | 48,000 - 87,000 | 40 Lakh - 73 Lakh |
Executive Assistant | 51,000 - 96,000 | 43 Lakh - 80 Lakh |
Investment Banking Analyst | 53,000 - 87,000 | 44 Lakh - 73 Lakh |
Information Technology
In the USA, the annual compensation for an MBA with a focus on information technology is USD 89,063 (INR 74 Lakh).
The IT department's main responsibilities include managing the company's software platforms, network technology, and IT security in addition to overseeing the computer infrastructure. It also entails monitoring how data is used by other employees.
The employment roles and average pay for an MBA in information technology in the United States are listed below:
Job Title | Average MBA Grads Salary in USA in USD (per year) | Average MBA Grads Salary in USA in Indian Rupees (per year) |
|---|---|---|
Systems Administrator | 46,000 - 92,000 | INR 38 lakh - 77 lakh |
IT Manager | 57,000 - 125,000 | INR 48 lakh - 1.04 cr |
Senior Software Engineer | 85,000 - 157,000 | INR 71 lakh - 1.31 cr |
Human Resources
The path to a fulfilling career is paved by an MBA in human resources. All human resources operations are subject to local, state, and federal laws, which are monitored by the company's human resources department. They must also supervise projects and benefits packages for employees.
The average annual compensation for an HR MBA in the USA is USD 65,000 (INR 54 lakh).
The following list includes employment roles and the expected income for a Human Resources MBA in the United States:
Job Title | Average MBA Grads Salary in USA in USD (per year) | Average MBA Grads Salary in USA in Indian Rupees (per year) |
|---|---|---|
Human Resources Manager | 50,000 - 96,000 | INR 42 lakh - 80 lakh |
Human Resources Specialist | 40,000 - 75,000 | INR 33 lakh - 63 lakh |
Human Resources Coordinator | 38,000 - 63,000 | INR 32 lakh - 53 lakh |
Finance
In the USA, the finance industry is competitive and pays well for those with an MBA. When you work in finance, you will assess all financial needs and objectives and create an investment plan that will benefit the company. To manage and monitor their money, all large businesses seek out financial experts.
In the USA, a finance manager with an MBA typically makes USD 95,515 (INR 79,62,670) annually.
The following lists the duties and expected pay for a finance MBA in the United States:
Job Title | Average MBA Grads Salary in USA in USD (per year) | Average MBA Grads Salary in USA in Indian Rupees (per year) |
|---|---|---|
Senior Financial Analyst | 67,000 - 108,000 | INR 56 lakh - 90 lakh |
Financial Controller | 64,000 - 133,000 | INR 53 lakh - 1.1 cr |
Financial Analyst | 51,000 - 88,000 | INR 43 lakh - 73 lakh |
Average Salary For MBA Graduates of Top US Business Schools
Based on industry, region, job history, and business school, salaries after earning an MBA from prestigious US universities might differ greatly. However, earning potential typically increases significantly for graduates of prestigiousMBA programs.
The following summarizes average post-MBA wages from some of the best MBA programs in the United States:
University | Average Salary per annum (in USD) | Average Salary per annum (in INR) |
|---|---|---|
Harvard University | 198,180 | INR 1.65 crore |
Stanford University | 198,032 | INR 1.65 crore |
Columbia University | 194,363 | INR 1.62 crore |
New York University | 196,143 | INR 1.64 crore |
The University of Chicago | 194,792 | INR 1.63 crore |
Northwestern University | 189,342 | INR 1.58 crore |
University of Pennsylvania | 175,000 | INR 1.46 crore |
Yale University | 175,000 | INR 1.43 crore |
University of California, Berkeley | 171,000 | INR 1.38 crore |
MIT | 165,000 | 1,37,66,700 |
Top Recruiters Offering High Salaries After MBA in USA
In the United States, the percentage of recruiters that hire MBA graduates has risen from 56% to 96%, according to a poll conducted by the Graduate Management Council (GMAC). Similar results are also found in other nations, such as Europe. The following are a few leading recruiters in the USA that offer a notably high MBA salary:
Recruiter | Average Salary per annum (in USD) | Average Salary per annum (in INR) |
|---|---|---|
IBM | 161,096 | INR 1.34 crore |
Mckinsey & Co. | 156,062 | INR 1.30 crore |
Bain & Co. | 156,062 | INR 1.32 crore |
JP Morgan | 142,218 | INR 1.19 crore |
Apple | 152,286 | INR 1.27 crore |
Deloitte | 237,869 | INR 1.98 crore |
Goldmann & Sachs | 123,906 | INR 1.03 crore |
KPMG | 96,000 | INR 80 lakh |
How to Get a High-Paying Job After MBA in USA?
Once your MBA program is over, you should begin preparing if you intend to stay in the United States for an extended period. After earning an MBA in the United States, the following crucial advice will help you land a job:
- Building Personal Networks: While studying for an MBA in the United States, you will encounter students from a wide range of nations. One excellent method to obtain knowledge and ideas is to contact them and have fruitful conversations with them regarding careers and jobs. For the same, you might form strong relationships with your instructors. You will undoubtedly benefit from their expertise in both your personal and professional life.
- Academic Prominence: Having a stellar academic record helps you succeed in life. A wealth of information and high test scores help you land the career you want. When recruiters see your scores, they typically notice them first.
- MBA Internships: In schools like the MBA, where real-world experience is crucial, internships are important. Through internships, you can learn about the field of your choice and how to get involved in it. MBA internships in the USA not only increase your education but also improve your networking.
- Career Profiles and Employment Sites: Job sites are a contemporary way to interact, learn about, and explore different recruiters and employment positions. Make a compelling resume and stay up to date on the most recent job listings until you find one.
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Average MBA Salary in USA 2024: FAQs
How much can an Indian MBA earn in the USA?
According to the US Labour Report 2023, the average salary for MBA graduates was $131,200 (INR 1.09 cr) per year. With an average yearly salary of USD 155,120, California had the highest employment rate for management occupations in the United States in 2023 (1,273,760).
Is a US MBA relevant for students in India?
Indian students place a high priority on earning a management degree from a US university, such as an MBA. Career and financial opportunities are the main reasons why many applicants choose to enrol in US universities to obtain an MBA. Many of the world's most prominent MBA programs are offered in the US.
Can I settle in the United States after doing my MBA?
You may stay on staff for 12 months known as optional practical training (OPT) after completing your MBA degree in the United States. This allows you to work in any economic sector related to your topic of study.