Oct 31, 2023 1.1K Reads
When it comes to choosing a career field, management emerges among the top 5 options students and working professionals prefer. Management is among the most popular career choices in India, especially for a long-term career vision. But within this field, there are a myriad of specific job options as well. But what makes management such an appealing career domain? How to identify the career option that suits your career needs the best? Which management career domain provides chances of promotions and career escalation? What is the compensation of these fields?
If these are a few of the questions that perplex you, then this blog will help you find all the answers right in this one-stop. Continue reading to find out some of the best reasons to take up a career in management as well as the top 10 career options in this field.
Research suggests that management is one of the most sought career fields in India despite the limited percentage of professionals who are able to escalate to such levels and job positions. Nonetheless, both students and working professionals at various stages of their career aspire to pursue careers in management or eventually escalate to management positions. As can be seen, the appeal of management jobs and a career field is massive.
But what makes management worth pursuing? Why do professionals from various fields aspire to form careers in management? Here we have listed down a few of the factors that increase the appeal of management as a career manifold to students and professionals.
Foremost, the factor that comes up as a prime reason for choosing management as a career field is the respect, reverence and prestige that such positions entail for the job holder. Management positions are reflective of a person’s expertise and prowess at executive roles and hence aspired for by individuals working in companies and organisations. Management positions often require certain interpersonal and leadership roles for the manager to occasionally fulfil which may make it even more appealing as a job domain.
When entering a job domain as a fresher, one expects to slowly grow in their career and escalate up the corporate ladder with experience. Most of the job domains today stagger off or reach a critical point beyond which promotions may become unhelpful, unless they have certain management skills. Management careers help you to effectively progress up the career ladder and emerge on top management positions with a few years of experience and performance.
While automation is taking over multiple job sectors and significantly affecting the future of many technical jobs, the field of management seems to have a stable future since human intelligence still continues to beat the artificially intelligent technologies affecting the professional landscape. The contribution and soft skills contributed to by humans remains invaluable to management. As a result, management sector jobs are not only valued for their shein and prestige but also because of the stable future they ensure in terms of career development.
The pay and compensation is a significant aspect of any job role, whether at the entry level or at the executive levels. Management jobs are among the most well-paid jobs provided a professional has the requisite skills, qualifications and competencies to thrive well in the sector. The perks and benefits of management jobs are also quite appealing, leading to them becoming a popular career choice amongst professionals.
Management is not a homogenous professional domain. It consists of many subdomains which offer a vast variety of careers to choose from. Depending upon one’s primary area of interest, aptitude and experience, there are a number of specialisations of management that one can decide to venture into. Some prominent examples include management of finances, marketing of a company, the human resources, particular projects and operations, logistics, IT systems and so on. Find more about the various sectors of management you can venture into further in the blog.
Another primary reason for the widespread popularity of management as a professional field is its cross-industry relevance. The fundamental principles of management are concerned with a similar basis and hence the skills and experience in one industry can very well be transferred and applied in other industries. Although the exact implementation of management principles should understandably be sensitive to the context and situational demands, the experience gained in the operations in one industry can surely be useful in another industry as well.
As can be seen, venturing for a career in management confers many appealing benefits ranging from fair compensation, prestige, respect to the opportunity of gaining invaluable experience that is conducive to career escalation in the longer run. Hence, it continues to remain one of the most popular and demanded job sectors in India.
Here we have elaborated upon 10 of the most valued and demanded career options in management that can land you in excellent professional environments.
A marketing management job is one of the most popular career options in the field of management studies and confers the opportunity to the professional for effectively designing, creating, implementing and evaluating various marketing projects and campaigns. This job role involves regular appraisal of a company’s market performance, and accordingly streamlining the marketing strategies and campaigns to maximise business growth.
Some of the key details about this job role have been given below.
A financial manager is concerned with the supervision of the operations and management of financial services, including those like budgeting or various departments, offices, operations etc., managing the expenditures of the organisation, the accounting functions and so on. Among management profiles, financial management is one of the most lucrative and appealing job profiles in India. The domain is well-established for a career and students and professionals having financial, analytical and computational aptitude can explore a career in financial management for effective career escalation over the years.
Find further details about the profile of a financial manager here.
Human resource management or HRM is a domain of management concerned with the effective management of the human resources, i.e.the employees of the organisation, and addressing their key concerns, ensuring their well-being, optimising their performance, ensuring their upskilling and maximising their potential for the organisation’s growth as well. Specific domains that an HR manager is expected to pay attention to include recruitment and hiring processes, training and development, grievance redressal, talent acquisition, managing interpersonal relations etc. The job role of an HR manager can be quite rewarding, both in terms of the compensation and diversity of experiences it offers.
Certain key details about the HR management job profile have been provided below.
Marketing and sales being a very well-established career domain in India, sales managers can enjoy a successful and rewarding career journey. The job profile of sales management is related to both the management of sales and services and the customer relations for maximising growth. At the ground level, sales managers are involved in the management of the performance and tasks of the sales executives, the overall sales campaigns, targets, management of the customer interactions, the customer relations etc. as well as the effective strategizing and planning to streamline the sale activities to meet the larger business growth targets.
The details about the job role of a sales manager have been given below.
A general manager is a middle-level manager who is involved with the overall functioning and ensuring the optimal performance of the organisational operations. The job role of a general manager is quite diverse and flexible. It involves attention to various aspects like the effective management of the employee performances and concerns, hiring in the organisation, effective budgeting and expenditure, effective coordination between departments and so on. The coordination and collaboration between the various departments of the organisation is also another aspect a general manager is expected to supervise.
Find more important details about the profile of a general manager here.
Project management is one of the top 10 most well-compensated career fields in India at the moment. Project managers are concerned with the overall management and overseeing of various projects, which could be in various functional domains of the organisation, although it is conventionally concerned with operational projects and IT projects. Project managers are closely involved with the initiation, designing, implementation, evaluation and management of various projects in the organisation. Key responsibilities include planning the project by breaking it down into component objectives, effective implementation of the tasks, managing deadlines and progress of members, ensuring customer satisfaction, coordinating with the top management etc. The scope of career growth in the field is quite high and it is currently in its growing stages as a profession in India.
Find more details about the profile of project management given below.
Public relations management or PR management is concerned with the creation of one’s media image, presence and voice as well as the strategic presentation of oneself and information to influence the perception of the general population and stakeholders. PR managers work in collaboration with the clients to create strategies for marketing, brand presentation, budgeting and information presentation. PR management is a developing career domain in India and is one of the most appealing ones due to its scope for effective networking and skill building.
More details about the profile of a PR manager have been listed below.
Ais a professional at the middle level of management involved with facilitating an organisation to use its IT infrastructure and informational resources in the most efficient manner to maximise company outputs and performance. Ground responsibilities of a computer and information systems manager include those like maintenance of company hardware and software needs and supplies, maintenance of information systems for the various departments and ensuring their safety and privacy, providing training for enabling staff to use the technology and so on.
Further key details about this job profile have been provided below for quick reference.
Business analysis is one of the booming sectors of management education in the current industrial landscape of India. Business analysts enable companies to effectively analyse their data from various sources to draw insights to further guide business decisions. Business analysts have a crucial strategic role to play in affecting the business trajectory in organisations with respect to PR relations, customer relations, marketing strategies and so on. The scope of this field of management is quite high since it is currently prospering, and with a few years of experience, professionals can escalate to major managerial positions.
Find more details about the job role of business analysts.
A management consultant is an expert or mentor who provides clients with consultancy and advice about the effective management of a certain or multiple domains. Clients of management consultants can include leaders and managers, the entire organisations, some departments within an organisation and so on. Moreover, management consultants can be hired by organisations on a full-time basis for more engagement or may be hired or collaborated with as a third-party client. In either case, it is a quite well-compensated field with a great scope of career growth due to the networking opportunities available.
Further details about this job domain have been provided below.
In order to grab an appealing job option in management, just professional experience is not enough. Gone are the days where career escalation was a seamless journey based on your professional experience. Today, in addition to your skill sets, companies and international firms demand that you have the requisite formal education and training in management to guide your professional actions and decisions. Constant upskilling is also highly appreciated and conducive to success in managerial job positions as it enables you to stay relevant to your job.
Courses that students of management can consider taking up include degrees, diplomas and certification courses. Professionals who already have some experience in a managerial field can also consider taking up executive courses that allow for learning and upskilling tweaked for working professionals. The prominent courses useful for upskilling in formal education and upskilling in management include:
Bachelor of Business Administration (BBA)
Master of Business Administration (MBA)
Post Graduate Diploma in Management (PGDM)
Executive MBA Program (EMBA)
Global MBA Program
Doctor of Business Administration
Professional Certificate Program in Management (Based on Specialisations)
Advanced Diploma in Management (Based on Specialisations)
There are a number of specialisations within management that students can specifically decide to venture into such as:
With formal education in management, whether in the form of a degree course, a diploma, a certificate or an executive program, you would be better equipped with foundational knowledge at handling problems and workplace situations related to effective management.
Thus, there are a number of specific domains related to management that can be quite useful for career growth and fair compensation since they are highly industrially valued. Each job domain in management requires its own specific skills, knowledge and competencies, all of which come more easily to professionals who are not only well-qualified but also have field experience. This blog has enumerated the top 10 management job profiles that a professional or aspiring manager can venture into, along with listing out the major benefits associated with those professional domains. A few of the top demanded courses in management for effective career development have also been listed.
Job roles like financial manager, marketing manager, general manager, project manager etc. are among the best and most highly compensated roles in the field of management.
Project management, marketing management and finance management are among the most popular job domains in management and considered the best to get a job in.
Depending upon where you start your career journey from and in which domain of management you venture, it can take anywhere between 10 to 15 years to work your way up to an upper management job role.
Career options like general management and project management are among the most highly paid domains in management. Professionals with nearly 2 years to 5 years can easily earn anywhere between INR 13 LPA to INR 24 LPA.
While an MBA and a PGDM are considered to be nearly similar courses, an MBA is more theoretically-oriented and grounded in the study of management concepts. A PGDM course is more industrially-tweaked and hence can be a better choice if a quick and successful career in management is your primary aim. A PGDM course allows you to hone your professional skills better and hence a PGDM graduate is likely to end up with a pay package slightly higher than an MBA graduate.
General manager is one of the most fairly compensated middle management positions. For this job role, a few years of professional experience is preferred and with nearly 5 to 6 years of experience, a general manager can earn anywhere between INR 23-23.9 LPA.
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