MBA in Product Management: Admission, Salaries, Scope

Vaishali Pandey
November 22, 2024

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An MBA in Product Management is a sought-after specialisation that provides a blend of strategic, technical, and leadership skills. This course is ideal for those aiming to steer product innovation and lead teams in a rapidly evolving business landscape. 

In our blog, we'll cover everything about pursuing an MBA in Product Management in India, including top colleges, course structure, admission processes, costs, career opportunities, and more.

MBA in Product Management: Course Highlights

Course 

Highlights

Details

Duration

2 years (full-time)

Eligibility

Bachelor's degree with at least 50% marks

Entrance Exams

CAT, GMAT, XAT, MAT

Average Course Fee

₹10-25 lakhs (varies by college)

Average Starting Salary

₹12-18 lakhs per annum

Core Subjects

Product Strategy, Market Research, Agile Development, UX Design

Top Recruiters

Google, Amazon, Tata Consultancy Services, Flipkart

Skills Acquired

Product lifecycle management, Customer insights, Data analytics

Why Pursue an MBA in Product Management?

Choosing an MBA in Product Management can set you up for a promising career. Here’s why.

Key Benefits

Details

High Demand

- Essential in industries like tech, retail, FMCG, and finance.

 

- Top companies like Google, Amazon, and TCS consistently hire skilled product managers.

Attractive Salaries

- Entry-level salaries range from ₹12-18 lakhs per annum.

 

- With experience, earnings can exceed ₹30-40 lakhs per annum.

Diverse Job Roles

- Positions available in marketing, strategy, data analytics, and product design.

Skill Development

- Acquire expertise in product lifecycle management, customer insights, and agile development.

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Top MBA in Product Management Colleges in India

Choosing the right college is crucial for a successful career in product management. Here’s a detailed list of the best MBA colleges for product management in India.

Rank

College Name

Location

Average Fees (₹ Lakhs)

Average Placement Salary (₹ Lakhs)

1

Indian Institute of Management (IIM) Ahmedabad

Ahmedabad

24

32

2

Indian School of Business (ISB)

Hyderabad

37

28

3

SP Jain Institute of Management

Mumbai

21

27

4

XLRI Jamshedpur

Jamshedpur

20

25

5

Management Development Institute (MDI)

Gurgaon

20

23

6

Great Lakes Institute of Management

Chennai

18

19

7

Narsee Monjee Institute of Management Studies (NMIMS)

Mumbai

22

20

8

Indian Institute of Technology (IIT Delhi)

Delhi

10

18

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Best Product Management Colleges in India: Admission Requirements

The admission process for MBA in Product Management involves several steps.

Admission

 Requirement

Details

Academic Qualifications

- A bachelor's degree in any discipline with at least 50% marks.

Entrance Exams

- Common Admission Test (CAT), GMAT, XAT, and MAT.

 

- Cut-off scores typically range between 85-99 percentile based on the college.

Work Experience

- Preferred but not mandatory.

 

- 1-2 years of relevant experience can enhance your application profile.

Group Discussion (GD) & Personal Interview (PI)

- Assesses communication skills, problem-solving abilities, and leadership potential.

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Entrance Exams for MBA in Product Management

To gain admission to top MBA in Product Management courses, you need to clear the entrance exams. These exams assess your aptitude in areas such as quantitative ability, verbal reasoning, logical thinking, and data interpretation. Below are the primary entrance exams that most colleges accept for admission into their MBA in Product Management programmes.

Entrance Exam

Conducted By

Eligibility

Cut-off Percentile

Common Admission Test (CAT)

Indian Institutes of Management (IIMs)

Bachelor’s degree with 50% marks (45% for SC/ST)

85-99 percentile

Graduate Management Admission Test (GMAT)

Graduate Management Admission Council (GMAC)

Bachelor’s degree with a minimum 3 years of experience

600+ score

Xavier Aptitude Test (XAT)

Xavier Labour Relations Institute (XLRI)

Bachelor’s degree (No minimum percentage)

85-95 percentile

Management Aptitude Test (MAT)

All India Management Association (AIMA)

Bachelor’s degree (No minimum percentage)

70-85 percentile

Common Management Admission Test (CMAT)

National Testing Agency (NTA)

Bachelor’s degree with 50% marks

80-90 percentile

Detailed Course Structure of MBA in Product Management

An MBA in Product Management typically spans two years, divided into four semesters. The course curriculum focuses on providing in-depth knowledge of business and product strategies.

Semester

Core Subjects

1

Principles of Management, Business Economics

2

Marketing Management, Financial Analysis

3

Product Lifecycle Management, Data Analytics

4

Strategic Product Management, Capstone Project

Elective Subjects

In every semester with the core subjects, you have the opportunity to specialise in various electives, tailoring your skills to match industry needs.

Elective Category

Electives Offered

Marketing

Digital Marketing, Brand Management

Technology

Agile Product Development, UX Design

Finance

Venture Capital, Financial Modelling

Operations

Supply Chain Management, Lean Operations

Practical Learning Opportunities

1. Internships

Companies like Paytm and Reliance Industries offer 3-6 month internships.

2. Live Projects

Work on real-world problems in collaboration with startups and corporates.

3. Workshops and Seminars

Industry leaders from top firms like Microsoft and Amazon conduct regular sessions.

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MBA in Product Management - Distance Learning

With the rise of online education, MBA in Product Management Distance Learning programs have become increasingly popular. These programs offer flexibility, allowing students to pursue their education while working or managing other commitments. 

College Name

Program Duration

Fees (approx.)

Special Features

Indira Gandhi National Open University (IGNOU)

2-3 years

₹10,000 - ₹20,000

Flexible learning, wide range of specialisations

UPES, Dehradun

2 years

₹1-2 lakhs

Industry-focused curriculum, weekend classes

Symbiosis Centre for Distance Learning

2-4 years

₹50,000 - ₹1 lakh

Interactive online platform, faculty support

Institute of Management Technology (IMT), Ghaziabad

2 years

₹1.5 - ₹3 lakhs

Virtual live lectures, industry tie-ups

Amity University Online

2 years

₹2-3 lakhs

Special focus on digital product management

Looking to boost your career while working? Explore how an MBA for working professionals can provide flexibility and enhance your leadership skills.

Cost of MBA in Product Management in India

The overall cost of an MBA in Product Management depends on the college and the city. Here’s a detailed breakdown.

Expense Type

Public Colleges (₹ Lakhs)

Private Colleges (₹ Lakhs)

Executive MBA (₹ Lakhs)

Tuition Fees

10-15

20-40

15-30

Hostel and Food

1-2

2-4

N/A

Books and Materials

0.5-1

0.8-1.5

0.5

Miscellaneous

0.5-1

1-2

1

Total Cost

12-19

24-47

17-33

Scholarships Available for MBA in Product Management

Pursuing an MBA in Product Management can be expensive, but various scholarships can significantly reduce the financial burden. Scholarships are often provided by institutions based on merit, need, or special categories like minority groups or women in leadership. 

Scholarship Name

Details

Eligibility Criteria

Amount/Fee Waiver

IIM Scholarships

- Offered by various IIMs like IIM Ahmedabad, IIM Bangalore, and IIM Calcutta.

- Based on academic performance and financial need.

- Up to ₹10 lakhs based on merit and need.

SP Jain Need-Based Scholarship

- Aimed at supporting students from economically weaker backgrounds.

- Must demonstrate financial need; academic performance is also considered.

- Covers up to 50% of tuition fees.

FMS Delhi Merit Scholarships

- Offered to top-performing students in their first year of the MBA programme.

- High academic scores and consistent performance in the first year.

- ₹1-2 lakhs per annum based on merit.

Government Scholarships

- Provided through the National Scholarship Portal and other state-level schemes.

- For economically weaker sections, SC/ST/OBC categories, and women.

- Varies, covering up to full tuition fees.

N. S. Ramaswamy Pre-Matric Scholarship

- Offered by IIM Bangalore for students showing exceptional academic promise.

- Based on financial need and academic performance.

- ₹50,000 to ₹1 lakh annually.

Minority Scholarships

- Available for students belonging to minority communities (e.g., Muslims, Sikhs, Christians).

- Must belong to a recognised minority community and meet income criteria.

- Up to ₹2.5 lakhs per annum.

Women in Leadership Scholarships

- Aimed at encouraging women to pursue MBA degrees and take on leadership roles.

- Open to female candidates with strong leadership potential.

- Varies, can cover 30-50% of tuition fees.

How to Apply for Scholarships

1. Check Eligibility

 Ensure you meet the specific criteria for the scholarship.

2. Prepare Documents

 Gather academic records, proof of income, recommendation letters, and a personal statement.

3. Submit Applications Early

Deadlines are strict, so applying early increases your chances of securing a scholarship.

4. Interview Process

Some scholarships may require an interview to assess your suitability and need.

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MBA in Product Management Course Comparison

When choosing an MBA in Product Management, it's important to understand that different institutions offer varying structures, specialisations, and entry requirements. Here’s a comparison of some of the top MBA in Product Management courses in India:

Course

Duration

Eligibility

Course Fee

Average Salary

MBA in Product Management

2 years (full-time)

Bachelor’s degree (50% marks)

₹10-25 lakhs

₹12-18 lakhs per annum

PGDM in Product Management

2 years (full-time)

Bachelor’s degree (50% marks)

₹12-20 lakhs

₹15-25 lakhs per annum

Executive MBA in Product Management

1-2 years (part-time)

5+ years work experience

₹20-35 lakhs

₹20-35 lakhs per annum

Career Opportunities After MBA in Product Management

The job market for product managers is robust, with numerous industries seeking these professionals. Here are some of the roles you can expect:

Job Title

Average Salary (₹ Lakhs)

Top Companies

Product Manager

15-25

Amazon, Flipkart, Google

Brand Manager

12-18

Hindustan Unilever, PepsiCo

Product Marketing Manager

10-20

Procter & Gamble, Nestlé

Product Development Manager

15-28

Microsoft, Tata Motors

Business Analyst

10-15

Deloitte, Accenture

Industry-wise Placement Insights

Industry

Average Salary (₹ Lakhs)

Hiring Companies

Technology

20-35

Microsoft, Apple, IBM

FMCG

15-25

HUL, ITC, Colgate-Palmolive

E-commerce

18-30

Amazon, Flipkart, Myntra

Consulting

20-30

McKinsey, BCG, Bain

Startups

12-20

Swiggy, Zomato, OYO

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Product Management Courses After 12th

If you’re considering a career in product management early, starting right after 12th grade can give you an edge. Here are some popular options:

Course Type

Duration

Average Fees (₹ Lakhs)

Popular Colleges

BBA in Product Management

3 years

2-5

Christ University, NMIMS

Integrated MBA (BBA + MBA)

5 years

10-15

IIM Indore, Nirma University

Certification Courses

6-12 months

0.5-2

Coursera, UpGrad, Udemy

Diploma in Product Management

1 year

1-3

Symbiosis, Welingkar Institute

Discover the MBA in International Business: Admission, Fees, and Placements 2024 to uncover global career prospects, leading colleges, and in-depth information on international business management for a thriving career in the ever-evolving global market.

Pursuing an MBA in Product Management opens doors to a variety of dynamic and high-paying job roles. With top product management colleges in India offering quality education, you can achieve your career aspirations. Whether you’re just out of 12th grade or a working professional looking to upskill, there are plenty of courses and pathways available.

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FAQs on MBA in Product Management

What is an MBA in Product Management?

An MBA in Product Management is a specialised business management program focusing on product lifecycle, development strategies, and market positioning. It prepares students for leadership roles in product-related industries like tech, FMCG, and e-commerce.

What are the top MBA colleges for Product Management in India?

Some of the best MBA colleges for Product Management in India include IIM Bangalore, IIM Ahmedabad, SP Jain Institute of Management, and XLRI Jamshedpur, among others.

How can I pursue an MBA in Product Management in India?

To pursue an MBA in Product Management in India, you must first complete a bachelor's degree, clear relevant entrance exams like CAT, GMAT, or XAT, and then apply to your chosen institute.

What are the entrance exams for MBA in Product Management in India?

The most common entrance exams for MBA in Product Management in India include CAT, GMAT, XAT, MAT, and CMAT. These exams evaluate your aptitude in areas like logical reasoning, quantitative ability, and verbal reasoning.

What is the course duration for an MBA in Product Management?

The typical duration for an MBA in Product Management is 2 years, divided into 4 semesters, although some colleges may offer one-year programs.

What specialisations are offered in an MBA in Product Management?

Specialisations in MBA in Product Management may include areas like Marketing, Data Analytics, Digital Product Management, Business Strategy, and Supply Chain Management.

What is the eligibility criteria for an MBA in Product Management?

The eligibility criteria for an MBA in Product Management generally include a bachelor’s degree with at least 50% marks and a valid score in entrance exams like CAT, GMAT, or XAT.

How much does an MBA in Product Management cost in India?

The cost of an MBA in Product Management in India varies from ₹10 lakhs to ₹30 lakhs, depending on the institute and location.

Is work experience required for an MBA in Product Management?

While work experience is not always mandatory, having 1-2 years of relevant work experience in product management or related fields can enhance your chances of admission to top colleges.

What skills do you gain from an MBA in Product Management?

An MBA in Product Management helps develop skills in market research, customer insights, product lifecycle management, team leadership, business strategy, and agile development processes.

What career opportunities are available after completing an MBA in Product Management?

Graduates of MBA in Product Management can pursue careers as Product Managers, Product Marketing Managers, Business Analysts, Project Managers, and Strategy Consultants in various industries.

Can I get financial aid for an MBA in Product Management in India?

Yes, many colleges offer scholarships, loans, and financial aid based on merit, need, and specific criteria like family income or category. Popular scholarships include those provided by IIMs and SP Jain.

How can I finance my MBA in Product Management?

You can finance your MBA through educational loans, scholarships, part-time jobs, or financial aid offered by institutions or government schemes.

Are there online MBA programs for Product Management?

Yes, some universities and institutions offer online or distance learning MBA programs in Product Management. However, in-person learning is generally preferred for this hands-on specialisation.

How do I prepare for entrance exams for MBA in Product Management?

Preparation for entrance exams such as CAT, GMAT, or XAT involves mastering subjects like quantitative ability, logical reasoning, data interpretation, and verbal ability. Regular practice and mock tests are crucial.

What are the job prospects after an MBA in Product Management?

Job prospects for MBA in Product Management graduates are strong, with opportunities in industries like technology, retail, FMCG, e-commerce, and consulting. Leading firms like Amazon, Google, and Flipkart regularly hire graduates.

What are the best international MBA colleges for Product Management?

Internationally, top MBA colleges for Product Management include Stanford Graduate School of Business, Harvard Business School, INSEAD, and the University of California, Berkeley.

What are the typical salaries after completing an MBA in Product Management in India?

The salary after completing an MBA in Product Management in India varies based on the institute and industry. Entry-level salaries typically range from ₹12 to ₹18 lakhs per annum, with mid-career professionals earning ₹30 lakhs or more annually.

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