Want a FAT MBA Salary Post-COVID, Do It From India.

Why Get an MBA from India 2020?

Here we will talk on Facts & Figures.

The GDP growth rate for 2020 will remain around 1.9%, and it will shoot up to 7.4% for the financial year 2021 and is expected to touch 9% for FY 2022. The growth rate will remain around 8-9% for FY 2023 and 2024. Most of the MBA jobs are in the countries which manage large corporates, factories, and production houses. As of now, China was the factory of the world. Most of the companies from Japan, South Korea, the US, and Europe have huge investments in China. There might be a difference in MBA salary post COVID.
Also Read:- Best Paying MBA Specialization in 2020

1. Manufacturing Equation post-COVID 19:

   
   COVID-19 aftermath, amid probabilities of China, possibly losing its label of the preferred industrial hub following coronavirus. approximately 1,000 companies are into discussions with Indian government authorities at different levels on exploring the possibilities of setting up their plants on the Indian mainland. A big chunk of 300 of these companies is actively pursuing production plans in sectors such as mobiles, electronics, medical devices, textiles, and synthetic fabric.

   Japan has declared US$2 billion in financial help for its companies to shift manufacturing units out of China. Few more nations could follow Japan, which largely will benefit India. The world post-COVID
   19 is reconsidering its strategy of putting all eggs in one basket. Companies across countries are showing interest in doing investment in India.

   Proposals are at various levels — central government departments, Indian missions abroad, state industry departments, etc. The Indian government is putting all possible efforts to hard-sell India as
   an industrial hub.

2. Corporate Tax Slashed Down:

   To put a major thrust to local manufacturing, the Indian Government had in September 2019 reduced corporate tax to 25.17 percent. For new industrial units, the relevant tax was cut to 17 percent, making it the lowermost in South East Asia. With reduced tax rate and the roll-out of goods and services tax (GST), India hopes to have large foreign investment in the manufacturing sector. India is considered an eye-catching destination because of its market size and also India being a possible hub for exports in the region.

3. Trade War between USA and China:

   The bad started during Jan 2019 and COVID intensified what began in early 2019. During early last year, Japanese corporates like Ricoh, Sony, and Asics Corporation started shifting their production units out of China so as to avoid US trade tariffs. Ricoh took its production of printers from Shenzhen to Thailand in July 2019. Nike is also looking at shifting its production bases to some other country may be to Vietnam, Thailand, or some South-East Asian nations. Panasonic is also actively searching for alternatives to produce electronic devices out of China.
   Those who thought that the trade war between the USA and China would be a temporary problem are now extra sure of not being over-dependent on China, as it seems now to be a long term issue.

   USA may place a huge bill on China for COVID deaths and expenses. More countries are expected to raise their COVID bills on China shortly.

4. This is the opportunity for India:

   Apart from the smaller nations in the SEA zone, corporations that prefer extensive manufacturing, supply chains, discounts, and tax holidays from the government will look at India as a permanent alternative to China.

   India has all things that China holds, and most important is a country with friendlier ties with the United States of America.

   India is also trying to invite companies looking to shift out of China and use this as a practical opportunity to speed up development in the post-Covid era. This will also lead to an increase in MBA salary post-COVID-19.

POSITIVE FORECASTS FOR MBA JOBS IN INDIA:

The trends are on the cards. World’s largest social media company Facebook has already done an investment of US dollar 5.70 billion in Reliance Jio during COVID time. More companies are to follow shortly. We expect by the end of 2021 approximately a conservative figure of 500 more companies
joining India or investing in India. Most of these companies at the entry-level and at the middle level need huge manpower, here I am more concerned about hiring MBAs. Generally, bulk recruitment is done through campus hiring in MBA colleges. Let’s assume on conservative recruitment of 200 MBAs per company on average. That means they in total need to
hire 100,000 MBAs in the next 1to 2 years which is in addition to the regular hiring of Indian companies.

Indian MBA Vs Foreign MBA:

In the upper paragraphs, I have mentioned that bulk-hiring is done through campus interviews and thus students who are perusing their MBA from Indian Business Schools will have an edge over their Indian counterparts doing it overseas. Certainly, they are going to miss the bus or will be difficult for them to get a good job in India. Europe and the USA will prefer their own citizens as the unemployment rate over there has gone very high and these MBAs even will find it difficult to get a job there.

There are a couple of good business schools in India. One can think of joining IIMs, IMT, XLRI, MDI, Taxila, Fore, Symbiosis, IIFT, etc.

Placed below is the rank list of the top 10 MBA colleges in India.

Rank List of Top 10 MBA colleges as per the IIRF survey 2020.

Source: iirf.in

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