Wish to enter the field of management? Read about the 10 types of management courses available in India, their scope, and salaries. Know which management course to choose based on your goals.
- History of Management Education in India
- The inception of Management Education in India
- Types of Management Courses Available in India
History of Management Education in India:
The history of management education in India dates back to 1950. It was the post-independence era, and citizens were busy building up the nation. There were just commerce colleges set up, and they emphasized only the theoretical aspects of banking, finance, and accounting.
In 1953, the All India Council for Technical Education (AICTE) advised the Government of India to establish an entirely new set of management study programs to promote and educate people with the required managerial skills.
Also, Check out Online Management Courses with Certificates to learn and upskill.
The inception of Management Education in India:
In the beginning, there were just three management schools that imparted management education to senior administrators and managers. But now, India is home to more than 6000 management schools, and most of them provide quality management education and placements.
Now that we know the history of management education in India, let us take a look at the types of management courses provided by the management schools in India. From this, you will be able to make an informed decision as to which one to choose for your managerial studies.
Types of Management Programs Available in India in 2023:
The management courses in India are categorized into ten main streams based on the popularity and knowledge imparted.
- Marketing Management
- International Business Management
- Finance Management
- Human Resource Management
- Operations Management
- Hospitality Management
- Retail Management
- Hotel Management
- Entrepreneurship Management
- Media Management
Marketing Management
If an organization has to stay competent in this highly thriving market, marketing is where you must place your bets. This parameter has made marketing management one of the most in-demand specializations in India.
This specialization provides an in-depth understanding of business administration and empowers the learners to face and overcome the most complex business challenges. As a standard definition, marketing management can be defined as the process of planning and implementing the conception, promotion, pricing, and distribution of goods and services.
The primary goal of a marketing management professional is to provide complete satisfaction to the end-user, the organization he/ she is working for, suppliers, and the stakeholders. A marketing management professional must effectively promote their company’s products/services. Also, they have to search for prospective buyers and convince them to buy the products/ services.
A marketing management course in India includes diverse fields of studies ranging across:
- Sales
- Advertising
- B2B Marketing
- Information System
- Market Analysis and Research
Salary for Marketing Management Professionals: The salary for a marketing management professional is high, and the average salary of a Marketing Manager in India is 6,75,204/ year, as per Payscale.com.
If this sounds like a promising career path to you, upskill with the Post Graduate Program in Management for Executives that offers Marketing Management as one of its specializations.
International Business Management
With opportunities striking galore, many domestic businesses are going global due to the ease in regulations and rise in funding options available. And if you are interested in helping a business/organization expand globally, this is the management program you have to look forward to.
While considering the international operations, an international business management professional must be educated and have inside-out knowledge of the economical and political regulations of the countries in which the organization’s business is operating. Extensive interpersonal skills are a must for this portfolio as he/she will be interacting with customers from diverse backgrounds and cultures.
After choosing this program, one can focus on core areas of international business like:
- International Logistics
- Strategic Management
- Organizational Behavior
- Foreign Trade Policy
And once you obtain your degree, you can try out the big giants like American Express, Amazon, Cisco, Goldman Sachs, Deloitte, etc.
Salary for International Business Management Professional: An International Business Manager earns around Rs.14,58,853 in India, as per Glassdoor.com.
Finance Management
If you’re a hardcore finance enthusiast, this is the specialization for you. As a financial management professional, you will be making significant financial decisions which is the primary objective for any organization.
If you choose this path, your responsibilities would include:
- Projecting profit and managing credit
- Making financial forecasts
- Developing cash flow statements
- Budgeting and directing investments
The biggest companies hiring for this position are the financial majors in the industry like ICICI Bank, Morgan Stanley, Goldman Sachs, etc.
Salary for Finance Management Professionals: The average salary of a Finance Manager in India is Rs.12,00,000.
Human Resource Management
Human resource management is vital as it deals with the hiring, training, and development of employees required to perform tasks crucial for the growth of an organization. Not only that, there are various functions related to human resource management, and you will find a detailed article in our blogs section regarding that.
Now getting back to the topic, a human resource professional will have the prime responsibility to:
- Recruit employees
- Administer policies and procedures
- Employee management
- Bridge connection between employee and employer
The top organizations hiring human resource professionals are- sorry to break the flow. The intriguing fact is that almost all organizations require an HR professional to manage their resources and daily activities.
Salary of a human resource management professional: The national average salary for a Human Resources Manager is ₹9,05,783 in India, as per Glassdoor.com.
Operations Management
Higher efficiency in all aspects of business functions is what organizations aim for, and that is what Operations Management is all about. Every management professional must have a fundamental understanding of operations management, as it is vital for overall business activities ranging across logistics, accounts, human resources, etc.
If you are interested in analytical and mathematical tasks, operations management is the field for you, and this career path is most suitable for commerce, engineering, and chartered accountancy graduates.
The responsibilities of an operations management professional include:
- Improving performance
- Formulating strategy
- Securing compliance
- Procuring material and resources
The organizations hiring for these job roles are Tata Motors, ITC, Asian Paints, Amazon, Flipkart, etc.
Salary of an operations management professional: The national average salary for an Operations Manager in India is Rs. 9,45,000, as per Glassdoor.com.
Hospitality Management
The hospitality industry amounts to almost trillions of dollars globally and is one of the thriving businesses in the industry. Although recent times hurt the hospitality industry, it is expected to bounce back to its fine run once normalcy returns.
The dynamic changes in the way people spend their money have led the hospitality industry to upgrade its services rendered to customers. This quest has led the industry to take up the path of evolution based on customer trends and to develop their technologies to suit the customers.
And if hospitality is your area of interest, proper education in hospitality management can help you embark on a rewarding career in this flourishing domain. There isn’t rocket science associated with hospitality management, as the primary objective is to enhance a guest’s experience and make them feel welcoming, warm, and comfortable.
A hotel management graduate has the option to work in the following industries.
- Luxury stays
- Vacation stays
- Theme parks
- Travel-related business
So, if you are good at decision making, managing operations, and making customers have an enriching experience, hospitality management is your inner self calling.
Salary of hospitality management professionals: The average base pay of a hospitality manager is Rs.4,56,780/year, as per Glassdoor.com.
Retail Management
The steadfast growth of the retail sector, accelerated by the infusion of e-commerce, has made retail management a recently-trending management domain. The consumer interest in brands and their ease of access via e-commerce has made this a booming sector.
In a retail management course, you will learn everything about the process of getting hold of the products to their delivery. In a nutshell, you will get a comprehensive idea about handling the sellers and the customers and making their experience hassle-free in the retail industry.
The curriculum of the retail management program will include:
- Retail Merchandising
- Visual Merchandising
- Consumer Behavior
- Retail stores and operations management
And some of the biggest recruiters in the retail industry are Flipkart, Amazon, Landmark Group, etc.
Salary of a Retail Management Professional: The average annual salary of a retail manager is Rs.7,29,517/year, as per Glassdoor.com.
Hotel Management
As the name suggests, this management program deals with the hotel business and its processes. The primary objective of pursuing this course is to understand how to run a hotel successfully. So if you are somebody who is planning to run a hotel sometime in the future or is passionate enough to serve the guests, this program must be your pick.
As far as your career post the program is concerned, a hotel management graduate can secure a job in the following sectors:
- Catering management
- Luxury cruise hotel management
- Airline catering
- Restaurant management
And some good-to-go skills that are required to have a striking career in this domain are good communication skills, a pleasant personality, and a good sense of non-offensive humor.
Salary for hotel management professionals: The average base pay of a Hotel Manager is around Rs.331,344, as per Glassdoor.com.
Entrepreneurship Management
It has been the age of startups in India, and every sector in India has seen entrepreneurs rising from all walks of life. While the startup experience is new for many budding founders, hiring professionals who can effectively run their startup amidst such heavy competition has become necessary. And that is where the entrepreneurship management program comes as a saver.
The entrepreneurship management programs will consist of a curriculum that includes fundraising, policy valuation, social development, market valuation, etc. So, if you are a startup founder or want to be a part of a startup and help it grow from the grassroots stage, this is the course for you.
The companies hiring for entrepreneurship management graduates are budding startups and NGOs.
Entrepreneur Manager Salary in India: The average annual salary of an entrepreneur manager in India is Rs. 9,72,000, as per Ambitionbox.com.
Media Management
The backing of corporates and the ever-rising entertainment industry has given rise to the demand for skilled media management professionals. Although the course can be opted by graduates without any prior experience or past degrees in this field, it is best suited for mass media and media science graduates.
The topics covered in a media management course includes:
- Campaign planning
- Media research
- Event management
- Television and print media
- Radio entertainment
- Post-production basics
- Pre-production basics
If you are an enthusiastic and creative soul and would have the zest to bring innovative ideas into media, this is the course you should look out for.
Media Management Professional Salary in India: The annual average salary of a media manager in India is Rs.7,00,000, as per Ambitionbox.com.
Concluding thoughts:
I hope the article has given you a clear understanding of the types of management courses available in India and which one you can choose based on your future career goals and preferences.
If you have already decided that you will only pursue the trending management specializations in the industry right now, do check the Post Graduate Program in Management for Executives. The program offers five trending specializations – Marketing Management, Data Science and Analytics, Operations Management, Human Resources, and Finance.
