High salaries and good perquisites are the main attraction of this career. Starting salaries vary depending on the size and prestige of the recruiting organization, the candidate's qualifications and the institution of training. They could be as low as Rs 3,500/- per month or as high as Rs 25,000 per month. The growth of the private sector has in recent years generated a great demand for specialist managers.
An MBA degree, with an additional professional qualification like ICWA (Indian Cost and Works Accountant), Company Secretary or CFA (Certified Finance Analyst) enhances a candidate's earning capacity besides ensuring good prospects for promotion.
There are no absolute rules concerning promotion, as policies differ with organizations. In general, the larger the company, the quicker the moves upward on the scale. Managers who are innovators rather than imitators tend to do better. There is also a marked difference between getting `in' and getting `on' in an organization. While trainees are recruited on the basis of their degrees and personal qualities, promotions depend less on higher qualifications than individual track records.