Top 10 Highest-Paying MBA Specialisations for Indian Students 2024

Did you know that Business Administration is one of the top 3 well-searched disciplines in the world?

The world is an open field for business enthusiasts. The surge of global networking after the pandemic has opened up numerous new business ventures and possibilities. Playing managemental and administering positions in businesses keep you at the front line of these power plays. 

According to the Times Higher Education report, Business administration is one of the most popular courses in the world. MBA or Master of Business Administration tops the charts in most popular foreign destinations such as the USA, the UK, Canada, Australia, Switzerland and Germany. 

The high earning potential and growing job prospects are an undeniable reason for this massive trend. Owing to its growing popularity, most top study destinations offer a variety of specialisations in MBA. 

Some of the highest-paying MBA specialisations are:

• Business Analytics
• Information Technology
• Finance
• Marketing
• Economics
• Entrepreneurship
• International Business
• Investment Management
• Innovation Management
• Data Analytics

Key Highlights of an MBA Degree:

Course Level	Postgraduate
Duration	1-2 Years
Common Entrance Examinations for MBA	GMAT, GRE, CAT, XAT, MAT, SNAP, CMAT, NMAT, IBSAT
Types of MBA Courses	– Full-time MBA  – Part-time MBA  – Executive MBA  – Online MBA
Annual Tuition Fee	INR 45-46 lakh in the USA INR 35-36 lakh in the UK INR 31 lakh in Canada INR 32 lakh in Australia INR 18 lakh in Germany
Minimum Eligibility	– Bachelor’s Degree with 50% marks in business or a related field from a recognized university – Work experience of 3-5 years
Documents Required	– Academic Transcripts, Cover letter, Resume, Reference Letter and Essays
Popular Destinations	USA, UK, Canada, Australia, and Germany

If you are planning to pursue an MBA degree, then it is important to learn all about the top course options and their perks.

Here is a comprehensive guide to finding the top MBA specialisations in the world. Let us explore the salary scale, top job profiles and highest-paying firms you can consider for your goal. 

Why Do You Need a Specialised MBA?

Although you can do a general MBA, completing a specialised degree will increase your chances of getting into a prestigious and prospective career.

A general MBA provides you with a broader and more general knowledge of the discipline. You will study the general principles and core topics that are fundamental to the study of business administration. 

A specialised MBA will not only cover the basics but also allow you to go in-depth in a particular field and study its particulars. It teaches you about a particular industry or field. 

For example, if you opt for an MBA in Business Analytics, you will get to learn about business administration within the realm of analytics. You will be tutored in the fundamentals of data management, including data modelling, predictive analytics, data visualisation and qualitative and quantitative methods.

A general MBA can improve your job opportunities, but your payment scale can be basic. A specialised MBA will offer you better and highly paid job profiles in top employment firms. 

How to Choose Your MBA Specialisation?

MBA offers a variety of specialisation fields. There are several factors to consider while choosing your MBA. 

As much as your strengths, interests, and career objectives are important, there are other significant factors to consider while selecting your MBA specialisation. 

Some of the parameters to be considered are:

• Salary scale
• Scope and demand 
• Job growth
• Social status
• Availability of excellent faculties
• Availability of internships and placement options
• Research facilities and other infrastructure
• Tuition fee and ROI of the program

While the scope, demand, and payscale vary across each country, certain MBA specialisations are popular across the world. 

Also Read: MBA Abroad Scholarships for Indian Students

Top 10 Highest Paying MBA Specialisations

Choosing the right MBA course for your study abroad plan can be tricky. However, it is important you make an informed decision. 

Before choosing your MBA specialisation, make sure the course you opt for provides you with a better and brighter career in the future. Getting a job alone isn’t enough. Getting into a reputed firm with an attractive salary package is extremely important. 

According to the Graduate Management Admission Council’s Corporate Recruiters Survey, the median salary for an MBA graduate is $1,15,000 (INR 95 lakh). Your salary can further escalate based on your skills and experience level. 

We have compiled a list of the top 10 highest-paying MBA specialisations worldwide, their top job profiles and salaries. While other factors, such as tuition fees, course duration, and job prospects, vary across each country, you can get an overview of the popular courses and their top job roles here. 

Check out the top 10 MBA courses below:

MBA Course	Top Job Profiles
Business Analytics	– Business & Data Analyst – Business Strategist Analyst – Business Application Analyst
Information Technology	– Information Technology Manager – IT Senior Associate – IT Services Manager
Finance	– Financial Management Associate – Finance Consulting Manager – Leveraged Finance Associate
Marketing	– Field Marketing Manager – Client Success Specialist – Social Media Coordinator
Economics	– Investment Analyst – Investment banking – Actuary
Entrepreneurship	– Business Innovation Consultant – Technology Innovation Consultant – Venture capital
Data Analytics	– Data Analyst -Data ManagementData Architect
Innovation Management	– Management consulting – Business Intelligence Manager – Senior Business Consultant
International Business	– Business Development Manager – International Trade Specialist – Import Compliance Specialist
Investment Management	– Investment banking – Investment Analyst – Financial Manager

In addition to the above list, numerous other job profiles come under each of the MBA specialisations mentioned above. Their salary scale and scope can vary depending on your location. 

Top 5 MBA Specialisations

The top 5 MBA specialisations in the world are Business Analytics, Information Technology, Finance, Marketing, and Economics. These specialisations are among the most popular and highest-paying ones due to their huge demand and scope. 

Being an MBA aspirant, you must understand all the necessary information on each of these courses. Understanding the course details, such as core subjects, tuition fees, and best faculties, is extremely necessary. 

Moreover, exploring the top job profiles and average salaries of each of the courses will help you find your best choice. 

Check out each of them in detail.

MBA in Business Analytics

The MBA in Business Analytics is the highest-paid MBA specialisation in the world. 

Business Analytics (BA) is the technique of resolving business problems using data analysis, statistical models and other quantitative measures. Most companies view their data as an asset and look for methods to utilise it for competitive advantages. An MBA in Business Analytics moulds you to ace business analytical skills that enable companies to gain insights into data to make informed decision-making in businesses. 

An MBA in Business Analytics covers a range of topics and prepares you for a variety of work skills. The topics can vary depending on your university course structure. Some of the common topics are mentioned below. 

Core subjects:

• Business intelligence
• Data Analytics
• Computer programming
• Quantitative Methods
• Financial Management
• Managerial Economics
• Operations Management

As an MBA in Business Analytics is so popular, most top universities in the world offer this course. Pursuing your MBA in Business Analytics from a reputed university can boost your career prospects. 

Best universities for an MBA in Business Analytics:

• Massachusetts Institute of Technology
• Imperial College London
• Alliance Manchester Business School
• University of Alberta
• University of Melbourne

An MBA in Business Analytics makes you eligible for some of the most highly-paid professions in the world. Some of the top-paid job profiles after an MBA in Business Analytics and their average salaries are mentioned below. 

Check out the job prospects below:

Jop Profile	Annual Salary
Business Systems Analyst	$60,000 – $65,000
Business Strategist Analyst	$50,000 – $96,000
Healthcare Business Analyst	$80,000 – $90,000
Business & Data Analyst	$80,000 – $90,000
Business Application Analyst	$70,000 – $80,000

MBA in Information Technology

MBA in Information Technology is commonly known as an MBA in IT. Owing to globalisation and digitalisation, it is a rapidly growing field of study. 

MBA in Information Technology combines business studies with information systems together to develop a variety of service sectors. Most importantly,  information security, project management, and telecommunications are the top sub-sectors under the study. 

An MBA in Information Technology helps you cover the basics and fundamentals of how information technology is incorporated into business. Some of the common topics covered by most universities are mentioned below for your reference. 

Core subjects:

• Financial Accounting
• IT Project and Operations Management
• Business Intelligence and Analytics
• Operation Management
• Business Intelligence and Analytics
• Data Visualization and Modeling

Numerous prestigious universities across the world offer MBAs in Information Technology. Some of them are listed below.

Best universities:

• Carnegie Mellon University
• Massachusetts Institute of Technology
• University of Glasgow
• University of Toronto
• University of New South Wales (UNSW), Sydney

Given are the top job profiles that you can avail of after an MBA in Information Technology. Their average annual salaries are also mentioned for your understanding.

Check out the job prospects below:

Job Profile	Annual Salary
Solutions Architect Senior Manager	$80,000 – $85,000
IT Senior Associate	$70,000 – $75,000
Information Technology Manager	$85,000 – $990,000
IT Services Manager	$70,000 – $75,000
Senior IT Business Analyst	$65,000 – $70,000

MBA in Finance

Business is all about financial transactions and services. An MBA in Finance develops analytical and statistical awareness in students to let them develop, organise and monitor the financial necessities of any business firm.

MBA in Finance covers all the important topics related to the financial aspect of business administration. The common topics covered are below. 

Core subjects:

• Financial Accounting
• Business Analysis and Valuation
• Corporate investment management
• Risk management
• Corporate finance

Given are the top universities for an MBA in Finance. They rank high in terms of faculty quality, infrastructure and exposure. 

Best universities:

• University of Pennsylvania (Wharton)
• University of Chicago (Booth)
• London Business School
• Imperial College London
• Frankfurt School of Finance & Management

An MBA in Finance will let you access some of the highly-paid jobs within the business world. Some of them are listed below. 

Check out the job prospects below:

Jop Profile	Annual Salary
Financial Management Associate	$85,000 – $90,000
Manager- Finance Integration & Separation	$85,000 – $90,000
Finance Consulting Manager	$80,000 – $85,000
Leveraged Finance Associate	$75,000 – $80,000
Finance Analyst	$60,000 – $65,000

MBA in Marketing

Marketing is important for any business venture. It assures profit with popularity. Especially with the growth of social media platforms, an MBA in Marketing has become more popular. 

An MBA in Marketing enables you to study how to perform sales, marketing, consumer trends, strategies and research in the field. 

MBA in Marketing will cover all the relevant topics within the field of marketing and teach you how to utilise this in businesses. Some of the important topics that come under the course are given. 

Core subjects:

• Marketing Research
• Consumer Behaviour
• E-Marketing
• Retail Marketing
• Services Marketing and Customer Relationship Management
• Advertising Management and Sales Promotion

If you are planning to study an MBA in Finance, then picking the best institutions for the same is extremely important. Some of the universities you can choose are given below.

Best universities:

• Northwestern University (Kellogg)
• University of Pennsylvania (Wharton)
• Oxford Business School
• EU Business School
• University of Melbourne

After an MBA in Finance, you are eligible for a variety of job roles in the field of marketing. Some of the top positions are given. 

Check out the job prospects below:

Jop Profile	Annual Salary
P&L Controller	$80,000 – $85,000
Client Success Specialist	$70,000 – $80,000
Business Intelligence Manager	$70,000 – $75,000
Field Marketing Manager	$60,000 – $70,000
Equity Portfolio Specialist	$50,000 – $60,000

MBA in Economics

MBA in Economics is a recent and more popular field. It is also one of the most highly paid courses in the world. An MBA in Economics incorporates the study of economics within the field of business. It analyses, assesses and manages the economic aspects of business. 

While applying economics to business, there are a lot of fundamental theories you must learn. Although the syllabus can vary depending on your university, some of the common topics are given below.

Core subjects:

• Micro Economics Analysis 
• Statistical Methods
• Principles of Management
• Public Finance and Taxation
• Business Accounting
• Computer Application
• Macro-Economic Analysis

Some of the top universities across the world to pursue an MBA in Economics are mentioned below.

Best universities:

• University of Oxford
• University of Cambridge
• Stanford University
• University of Munich
• University of Bonn

After completing your MBA in Economics, you can apply for several top recruiters. You will be eligible for some of the top job roles in the field of economics. Some of them are listed below. 

Check out the job prospects below:

Jop Profile	Annual Salary
Healthcare Economists & Trend Analyst	$85,000 – $90,000
Research Economist	$75,000 – $90,000
Economic Analyst	$70,000 – $80,000
Policy Analyst	$65,000 – $75,000
Economic Development Analyst	$65,000 – $70,000

Top Countries to Study an MBA

Most countries offer MBA courses in their universities. However, pursuing your degree from the most sought-after destination will let you experience a lot of perks. 

The top study-abroad destinations such as the USA, the UK, or Canada not only provide you access to the prestigious institutions of the word. The multiculturalism and cultural inclusiveness of the place will give you a whole new level of experience in your level.

In addition to getting access to top-notch technology and research facilities, these top countries will open up career opportunities from global business giants for you. 

Pursuing an MBA from a foreign destination such as the US or the UK will open up a wider global platform for you. This will consequently increase the scope and range of your career in the future. 

Let us look at the top five destinations for an MBA course in the world to understand the scope, demand and career prospects in each of them.

Overview of top destinations for an MBA:

Country	Annual Tuition Fee for MBA
USA	INR 45-46 lakh ($ 53,000)
UK	INR 35-36 lakh (€ 40,000)
Canada	INR 31 lakh (CA$ 50,000)
Australia	INR 32 lakh (AU$ 60,000)
Germany	INR 18 lakh (€ 20,000)

Note: We recommend you convert the given figures under the latest conversion rates for more accurate values.

USA

The USA is one of the best destinations for an MBA degree. The flexible education system, research opportunities, excellent faculties, and global exposure make it a top choice for Indian students. 

Moreover, the USA is home to several top companies such as Apple, Microsoft and Amazon. After completing an MBA, you get access to numerous opportunities in the country. 

The USA hosts some of the most recommended universities in the world. 

Top MBA Universities in the USA are:

• University of Chicago (Booth)
• Northwestern University (Kellogg)
• University of Pennsylvania (Wharton)
• Massachusetts Institute of Technology (Sloan)
• Harvard University

UK

The United Kingdom is a common destination for Indian students who intend to study abroad. The quality of education and diversity of programs make it a popular destination among students.

The UK is also at the forefront of businesses. It is home to the top multinational companies, including Shell, AstraZeneca and Unilever. So, it is an ideal choice for business students. 

Top MBA Universities in the UK are:

• London Business School (LBS)
• Oxford Business School
• Cambridge Judge Business School
• Imperial College Business School
• Warwick Business School (WBS)

Canada

Canada is amous for its excellent quality of academics and research opportunities. The blooming Canadian economy is a major attraction for business students. Its pro-immigration policies make it an even better option for an MBA degree. 

The Canadian universities offer a variety of MBA programs. 

Top MBA Universities in Canada are:

• The University of Toronto – Rotman School of Management 
• Queen’s Smith School of Business
• Western University – Ivey Business School
• McGill University – Desautels Faculty of Management
• York University – Schulich School of Business

Australia 

Australia is often opted by Indian students for an MBA degree. The major reasons are its top-ranking universities, cultural diversity and the global recognition you receive for your certificate after completing your studies.

The Australian universities offer diverse and well-structured MBA courses.  

Top MBA Universities in Australia are:

• Melbourne Business School, University of Melbourne
• Australian Graduate School of Management (AGSM), University of New South Wales
• MGSM Macquarie Graduate School of Management, Macquarie University
• Monash Business School, Monash University
• University of Queensland Business School

Germany 

Germany is a safer and stabler country for international students. The cultural inclusiveness provides a much more comfortable environment for study and work. 

The growing German economy makes it a good choice for a business course. The outstanding universities of Germany offer various MBA specialisations. 

Top MBA Universities in the USA are:

• Mannheim Business School
• Frankfurt School of Finance and Management
• ESMT Berlin
• HHL Leipzig Graduate School of Management
• WHU (Otto Beisheim)

In addition to the above-mentioned top 5 destinations, there are more countries where you can opt for an MBA degree. These are recommended for their quality of education, availability of diverse programs and the scope and salary provided for an MBA graduate. 

Other recommended destinations are:

• France
• Spain
• Singapore
• Switzerland
• Netherlands

Top Universities to Study an MBA

The QS Global MBA Rankings 2024 lists 315 business schools across the world. These are notable for their exceptional quality of education, with excellent faculties and infrastructure. 

According to the ranking, the best business school in the world for an MBA degree is the Stanford Graduate School of Business. The second position is secured by the University of Pennsylvania (Wharton). Among the top 10, five of them are from the United States. 

The universities are picked based on their exemplary role in employability, entrepreneurship, and ROI. In addition, the given universities are notable for their leadership opportunities and diversity within the campus.

Check out the table below for the top 5 universities for MBA:

University	Annual Tuition Fee
Stanford Graduate School of Business	INR 88 lakh ($ 1,06,480) (First Year)
Wharton School of the University of Pennsylvania	INR 72 lakh ($87,370) (First Year)
Harvard Business School	INR 62 lakh ($74,910)
London Business School	INR 95 lakh (£115,000)
HEC Paris	INR 81 lakh (£90,000)

Note: We recommend you convert the given figures under the latest conversion rates for more accurate values.

In addition to the above list, there are numerous high-ranking business schools worldwide where you can opt for an MBA degree. Choose your institution based on its ranking, tuition fee, course duration, and employability.

Top Companies to Work After an MBA

Getting into a well-established firm can assure you of an attractive salary package and other offers. In addition to your basic salary, you can also get other allowances such as housing, medical and travel. You can also get bonuses and incentives according to your performance in the company. 

But these are not the only perks of working in a multinational firm. Working in top job platforms will open up better opportunities and experiences for you. This will enable you to get a wider global exposure and will definitely boost your profile.

Given below is a list of top companies hiring MBA graduates. We have also included the average annual salary in each firm for your reference. 

Check out the table below:

Company Name	Job Profile	Average Annual Salary (INR)
Google	Senior Product Manager	INR 1.8 crore ($227,000)
Accenture	Senior Manager	INR 1.6 crore ($195,000)
IBM	Chief Technology Officer (CTO)	INR 1.4 crore ($170,000)
Big Three	Business Consultant	INR 1.3 crore ($165,000)
Apple	Business Pevelopment Manager	INR 1.3 crore ($160,000)

Your salary can vary depending on your job profile, experience, location and specialisation. However, you can consider the given numbers for your general awareness. 

To Sum Up

Securing an MBA is your first step to becoming one of the future leaders of the business world. Pursuing your MBA from a reputed university can assure you of a stable job and better job prospects in the future.

MBA in Finance and Marketing are always a popular and traditional choice for business enthusiasts. However, new and growing fields of Entrepreneurship and Information Technology can be an asset in the long run. 

It is your interest, aptitude and passion that determines the best choice for you—considering all the necessary factors such as the study-abroad destination, university, duration, job opportunities and growth prospects while opting for your MBA specialisation.  

If you are planning to pursue an MBA degree, but are confused with all these choices, then you are at the right place to begin with. Leap’s study abroad consultants can drive you all the way through until you reach your destination

Frequently Asked Questions