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The Post Graduate Diploma in Management, or PGDM for short, is one of the most sought-after courses today. After completing a PGDM program, you will be able to pursue a variety of management and leadership positions in a range of industries.
No matter what industry you work in, completing a PGDM course will significantly advance your career. However, you may wonder, "How beneficial is a PGDM course?". In India, the PGDM admission process is available online.
To answer this question, here’s an article about the average salary package for PGDM graduates in India. It will shed light on how financially rewarding this course is, as well as the types of jobs you can pursue with this qualification once you have taken PGDM admission and completed the course.
PGDM is one of India's most sought-after qualifications that uplifts your potential as an employee for companies and organizations across all industries. As a Postgraduate, you can advance to senior positions, change industries, or start earning more money. The demand for management professionals is steadily increasing as businesses seek opportunities for experts capable of addressing real-world business challenges in a post-pandemic world.
According to a survey, nearly 19 percent of companies reported that Managers, plus Sales and Marketing executives were the most in-demand roles. Tech professionals were ranked second on the list.
The high demand for management professionals is one of the major reasons why the average PGDM salary in India is so high. Due to high demand for PGDM courses in India, colleges these days are focusing on attracting more students for PGDM admissions. Furthermore, management is an essential component of any business. Without skilled management professionals, no matter what industry your company is in, it cannot function efficiently.
As different industries pick up the pace, you can expect the pay for PGDM qualified students to rise even further.
Jobs that offer the Highest Salary after a PGDM In India
Post PGDM salaries in India are determined by a variety of factors, including the industry in which you work, the nature of your job, and the amount of professional experience you have.
Management is a broad field with numerous sub-domains. When you study for a PGDM, you can choose to specialize in one of those sub-domains and work in a specific industry.
For example, if you complete a PGDM in HR, you will be able to pursue a variety of roles in the Human Resources Management sector.
Because of these factors, there are numerous jobs available to those with a PGDM certification. Now, let's take a look at some of the highest-paying jobs for professionals with this credential.
1. FINANCIAL MANAGER - In India, the average annual salary for a Finance Manager is INR 9.91 lakh. Pay in this field ranges from INR 3.5 lakh to INR 20 lakh per year, not including shared profits, bonuses, or commission.
Entry-level Finance Managers make approximately 48% less than the industry average. Similarly, early-career finance managers earn 26% less than the national average. Late-career Finance Managers and experienced managers, on the other hand, earn 21% and 19% more than the market average, respectively.
What does a Financial Manager Do?
A Finance Manager is in charge of creating and monitoring departmental budgets. Finance Managers must also prepare necessary financial forecasts for their organization in order to plan its finances accordingly. Finance Managers collaborate with other department heads to determine the organization's financial needs.
They also assist operations managers in conducting monthly operations reviews and providing analyses. Finance managers ensure that all projects are completed on time in order to avoid delays and additional costs. They must be highly analytical and communicative.
2. OPERATIONS MANAGER - In India, an Operations Manager earns an annual salary of INR 7.65 lakh. Operations Manager’s annual salary ranges from INR 2.96 lakh to INR 20 lakh, depending on their experience and skills. Program Management (187 percent more than the average) and IT Security & Infrastructure are the skills that pay the most in this profession (127 percent more than the average)
What does an Operations Manager Do?
Operations Managers monitor and manage the operational costs of the organization. Operations Managers oversee several departments, including warehousing, purchasing, and manufacturing, to ensure that everything runs smoothly.
Operations Managers supervise employees and make decisions about their hiring, promotions, compensation, disciplinary actions, and termination. Depending on the size and industry of their organization, they may also be required to set sales and revenue targets. Operations Managers ensure that all business operations follow all applicable laws and regulations.
3. SALES MANAGER - In India, a Sales Manager earns an annual salary of INR 4.88 lakh. Their annual income ranges from INR 2.48 lakh to INR 10 lakh. An entry-level sales manager, with less than a year of experience, earns an average of INR 3.33 lakh per year, while those with one to four years of experience earn an average of INR 3.89 lakh per year.
Sales Managers with five to nine years of experience earn an average of INR 5 lakh per year, while those with ten to nineteen years of experience earn an average of INR 6.88 lakh per year. Those with 20+ years of professional experience earn an annual salary of INR 9.5 lakh.
What Does a Sales Manager Do?
Sales Managers manage and supervise sales associates and daily sales activities. Sales Managers carry out the organization's sales programs and collaborate with their sales associates' teams to meet sales targets. Sales managers are constantly in contact with customers, ensuring that they have a positive experience.
4. HUMAN RESOURCE MANAGER - A Human Resources Manager's annual salary in India is INR 7.01 lakh. Pay ranges from INR 2.91 lakh per year to INR 20 lakh per year, including shared profits and commissions.
Human Resource Manager’s pay is heavily influenced by their level of experience and expertise. HR Managers with Team Management skills earn 98% more than the average, while those with sourcing skills earn 85% more than the average. Similarly, HR Managers with vendor management skills earn 58 percent more than the median, and those with international human resources skills earn 43 percent more.
What Does a Human Resource Manager Do?
A Human Resources Manager (also known as an HR manager) is in charge of all HR activities in their department, such as recruitment, onboarding, training, and firing. Human Resource Manager’s must ensure that they provide a productive environment for their employees in order to keep all operations running smoothly.
HR Managers are responsible for resolving workplace issues, such as those between employees and between employees and supervisors. They are in charge of payroll and other employee benefits (sick leaves, maternity leaves, insurance, etc.). HR managers are frequently called upon to train and coach junior HR managers and HR executives. They are in charge of ensuring that the company's operations are in accordance with the applicable laws.
5. PRODUCT MANAGER - A Product Manager's annual salary in India is INR 17 lakh. Product Manager’s average annual income in India ranges from INR 7 lakh to INR 30 lakh, depending on their experience, skills, and employer.
Early-career product managers earn about 25% less than the median, whereas experienced product managers (10+ years of experience) earn 73% more.
What Does A Product Manager Do?
A Product Manager is in charge of the entire lifecycle of a product. This includes the product's concept generation, development, testing, launch, and performance. Product Managers must identify and monitor industry trends in order to generate ideas for new products and determine the demand for their current products.
Product Managers must also consider customer feedback for existing products in order to identify areas for improvement. For their product, they collaborate with various departments within a company, such as the marketing department, the development team, and management.
6. MARKETING MANAGER - In India, the average salary for a marketing manager is INR 6.88 lakh per year. Their annual salary ranges from INR 2.87 lakh to INR 20 lakh, including shared profits, bonuses, and commissions.
Marketing Managers with less than a year of experience earn INR 4.16 lakh per year on average, indicating the importance of experience in this field. Those with one to four years of experience, on the other hand, earn INR 5 lakh per year. Those with five to nine years of professional experience in this sector can expect to earn INR 7.3 lakh per year.
What Does A Marketing Manager Do?
A Marketing Manager is in charge of overseeing and developing a company's sales and advertising campaigns. They may be tasked with marketing and promotions for a single product, brand, product line, or the entire organization. They track the effectiveness of their promotional campaigns to identify areas for improvement and make changes as needed.
Many people aspire to be Management professionals, and a PGDM college can help you get there. We offer a PGDM degree that can help you get started on this path and pursue the careers discussed in this article. With the right knowledge, resources, and skills ,one can achieve a success rate after pursuing a PGDM course.
Since it is a flexible course, you can continue to learn while adhering to your personal and professional commitments. It will assist you in learning the necessary skills and subjects to excel in management and leadership.