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MBA in Corporate Social Responsibility: Prospects & Career Options

Jun 29, 2016 13:57 IST
    MBA in Corporate Social Responsibility: Prospects & Career Options
    MBA in Corporate Social Responsibility: Prospects & Career Options

    Corporate social responsibility (CSR), one of the most enthralling specializations, is a tranche of virtuous responsibility where individuals are liable to make ethical decisions for their firms that will have positive impact on their community. It has been in the limelight since the government of India has made it mandatory for the companies to apply 2% of their profit after tax (PAT) in CSR.

    But why give CSR so much importance?

    Because Corporate Social Responsibility (CSR) ensures the sustainable growth of an organization through environmental, economic and social feasibility!

    CSR is an emerging industry that provides a vibrant stage and corporate culture for interactions among organizations and their stakeholders. It develops a picture-perfect scenario for effective management and growth of social values along with a fountain of cutting-edge development at global level. Affecting nearly 13000 companies in India, CSR has enticed full-fledged operations through an excessive demand for young candidates.

    As quoted by Niall Fitzgerald, former CEO of Unilever,

    To acquaint you with the contents of MBA in corporate social responsibility, we bring to you this comprehensive article that’ll certainly make your doubts surrender. You will find here the following topics:

    1. An Introduction to Corporate Social Responsibility
    2. Rationale for choosing a career in Corporate Social Responsibility
    3. Eligibility criteria for pursuing MBA in Corporate Social Responsibility
    4. Syllabus taught in Corporate Social Responsibility
    5. Career Options/Opportunities after Corporate Social Responsibility
    6. Pay Packages offered to Corporate Social Responsibility
    7. List of Top/Best Colleges to Corporate Social Responsibility
    8. List of Top Recruiters that hire Corporate Social Responsibility 

    What is MBA in Corporate Social Responsibility?

    The balance of social issues with business perspective is what you will learn from a degree in MBA in corporate social responsibility. This specialization works at mentoring the youths, such that they can confront the challenging situations of business and environment for the betterment of the society.

    Apart from the typical management studies, this educational program equips the students with knowledge about sustainability reporting, industrial relations and brand value. Specialization in this particular field will open career doors in national or international industries with large-scale or small-scale firms. CSR involves:

    Why MBA in Corporate Social Responsibility?

    The Companies Act came into existence in 2013, thanks to the ministry of corporate affairs, according to which, the companies earning a net profit of above INR5 crore in a fiscal year have to spend a minimum of 2% of PAT in CSR. In return, the industry has welcomed the mandatory reform measure undertaken by the government with a thriving curiosity and unprecedented interest in the value chain. As the Indian and multinational firms strive to make their stand in the global ambitious business, being socially amenable to the surroundings has become furthermore pertinent. Some of the CSR policies incorporated by the private and public sector companies are:

    • Promoting healthcare and clean environment while deploying measures to obliterate poverty among the people
    • Encouraging vocational education and training among all the age groups
    • Contributing to the sports department of India through the conductance of training
    • Assisting in rural area and slum area development   
    • Protecting national heritage and culture
    • Promoting women empowerment

    Considering the popularity of the CSR department, let’s see the total spending of top companies on CSR in 2015. In a survey conducted by NGOBOX on CSR spend of BSE-250 companies, it was revealed that the total money spend on CSR by the top 10 companies in India is INR 2783 crores, where Reliance industries is on top with 761 crores.

    Source: NGOBOX, India CSR outlook report 2015

    Figure: Top 10 companies spending on CSR

    The budget prescribed by the government to be spend on the CSR activities has been increased by 13.8% from 2014-2015 to 2015-2016. Nearly 31% of the companies have fulfilled their roles in by spending more than the prescribed budget.

    Whereas, 13% have spent exactly the amount prescribed, 3% of the companies spend no amount on the same. Nonetheless, the companies who failed spend minimum of 2% will have to explain their reasons such disparities. The figure below refers to these statistics.

    Source: NGOBOX, India CSR outlook report 2015

    Figure: CSR spent by Indian companies

    In a survey conducted by KPMG, the CSR annual reports of N100 companies were analyzed. As determined by the survey, the CSR domains where more initiative is taken are education, health sector, rural development, environment and women empowerment. Here, education is leading with 43% while CSR projects on women empowerment are lowest with only 3%.

    Source: KPMG, India’s CSR reporting survey, 2015

    Figure: Area-wise CSR spends The KPMG survey also revealed that 47.51% of the companies had no vision/mission towards their CSR activities. On the other hand, 45.49% of the companies had a clear vision of the CSR activities to be performed by them within the dimensions of the prescribed budget. This certainly explains the lack of spending or no spending by the companies.

    Source: KPMG, India’s CSR reporting survey, 2015

    Figure: Companies having a CSR vision/mission

    The Importance of Corporate Social Responsibility

    The increasing expectations of the stakeholders and boards of firms have lured maximum benefits from CSR, making it excruciatingly important. The government has recognized the need of CSR and so has various industries. This is why:

    Eligibility criteria for MBA in Corporate Social Responsibility

    MBA in CSR is one of the best Master’s degree that ensures a bright future of the deserving candidate. Participating in this esteemed program however, requires certain essentials from you. The eligibility criteria for pursuing MBA in corporate social responsibility are:

    Skills required for pursuing MBA in Corporate Social Responsibility

    The CSR department requires a sense of social responsibility, where the young minds can take appropriate business marketing and financial decisions. The following are however, required by you, if you choose to embark on this journey:

    Adaptability towards Market Changes

    Understanding of Business Laws

    Social Involvement

    A Decisive Mind

    Natural Curiosity towards ETHICS

    Leadership Quality

    Engaging Persona

    Ingrained Responsible Behavior

    MBA in Corporate Social Responsibility Syllabus

    Apart from the general line of subjects, MBA in CSR is a specialization that equips students with integral academic knowledge and professional training in the spectrum of CSR activities. This educational program covers a wide spectrum of streamline subjects such as social accountability, business ethics, global business and corporate finance etc.

    Though, different colleges have determined different syllabus, the following table points out some of the common subjects taught in MBA in CSR:

    Subjects for MBA in CSR

    CSR laws and obligations

    Environmental protection

    Business economics

    Social welfare

    Social investing

    Fair trade practices

    Community development activities

    Social entrepreneurship

    Strategic approaches for global social impact

    Business solutions for global megatrends

    Business and sustainable supply chains

    Negotiation and conflict resolution

    Business and public policy

    Corporate finance

    Power and politics in organization

    Managing the legal environment of business

    MBA in Corporate Social Responsibility: Career options

    The mandatory corporate social responsibility has allured nearly 50,000 job openings ready to be filled with deserving candidates. Needless to say, the augmented importance of corporate social responsibility has enhanced the employment opportunities across Indian and multinational industries.

    It is a profound area of management that offers intriguing career opportunities to young aspirants. The career path along the lines of CSR is the sole platform that has a mixture of both human touch and business with exciting job offers in private and public sectors.

    The managers in this field are responsible to carry out research, develop policies, build relationships, and generate initiatives, all in favor of community and the respective organization. As the demand for CSR grows, the graduates from MBA in corporate social responsibility can find themselves at the position of:

    Pay Packages for MBA in Corporate Social Responsibility

    Depending on the personal attributes, determination, and the score of an individual, an entry level CSR officer can land a job with Rs. 5 lakh package. The teams of CSR are usually small, which further leads to great opportunities. With experience in this domain, the remuneration can increase up to Rs. 15 lakh. Also, the CEO’s in this sector can earn up to Rs. 1 crore.

    Work Experience

    Average Salary (tentative)

    1-5 years

    Rs. 5 - 10 lakhs

    5-10 years

    Rs. 15 – 20 lakhs

    Above 10 years

    Rs. 40 – 60 lakhs

    Top Colleges for MBA in Corporate Social Responsibility (CSR)

    Following is the list of top colleges/universities that offer specialization in MBA in CSR:

    1. Institute of corporate sustainability management, Delhi
    2. Indian institute of education and business management, Pune
    3. CSR: Center of Excellence, Mysore
    4. Indian Institute of Management, Ahmedabad
    5. Institute of Business Management Studies, Mumbai
    6. Faculty of Management Studies, Delhi
    7. Institute of Management Technology, Ghaziabad
    8. Indian Institute of Technology, Delhi

    Top Recruiters for MBA in Corporate Social Responsibility (CSR)

    Following is the list of top notch companies in India that are hiring the young aspirants of MBA in corporate social responsibility:

    1. Reliance Industries
    2. Wipro
    3. Infosys
    4. Dabur
    5. Larson & Toubro Ltd.
    6. Mahindra & Mahindra Ltd.
    7. Nestle
    8. Tata consultancy services
    9. ICICI bank
    10. Tata Steel Ltd.
    11. Bharat Petroleum Corporation
    12. Tata Power Company Ltd.
    13. Coca-Cola India Pvt. Ltd.
    14. Steel Authority of India
    15. Maruti Suzuki

    Share this article with those who are considering the idea to pursue MBA in a niche specialization such as CSR.

    If we have missed some important piece of information then kindly share with us your valuable comments and queries.

    For more MBA Career related updates, keep visiting jagranjosh.com

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    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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