Below listed are the major careers one could pursue in the field of Management followed by required qualifications, career path to adopt, expected salaries, local and global demand and list of Institutions that are offering relevant courses.
Managers are entrusted with the responsibility to run business without hindrance, efficiently with the available resources. They should plan for the operations and developmental goals of the organization to make it profitable for the stakeholders. Business management is associated with gathering information and solve the problems through innovative methods. Sometimes businesses hire external management experts in the form of Management Analysts or Consultants to review and recommend new systems, procedures and changes to improve efficiency.
Management is a well sought after career in India with more aspirants opting for bachelor’s and master’s degree programs. However, the reputation, curriculum and exposure the institution provides would decide the future prospects. In case you are planning to have career in management, do aim for high reputed management institutions. It is must to seek apprenticeship well in advance, in relevant field to increase your process of learning. Anything less than this would eventually affect your future prospects.
Management team is the top line executive team of any organization. To reach there one has to learn the domain knowledge along with cross functional knowledge related to finance, HR, operations, etc. Managers should be critical thinkers offering unique solutions for regular problems. Working style may extend beyond office hours involving regular interaction with business affiliates, teams, customers, etc. An effective time management is must to cope up with the diversified work load.
Bachelor’s degree and mostly Master’s degree in Management (M.B.A) is advisable considering the roles and responsibilities you would be assigned with. Aim for reputed institutions especially like IIMs, for a great career start.
: Analytical skills, Critical thinking, Communication skills, People skills, Problem solving skills, Organization skills, Time Management.
A bachelor’s degree from a reputed or top institution would attract huge packages; to give a perspective the lowest package offered to IIM-A in 2016 was INR 12L and highest could go multi-million. However, the scenario would be different in case you end up with normal institutions - salary in the range of INR 3 – 5L per year.