5 Ways to Earn Money During Your MBA
An MBA degree is often seen as a significant financial investment. But what if you could partially offset that cost while still in college? Whether you’re an MBA aspirant or already on campus, there are practical ways to start earning during your college, your MBA program—ways that also deepen your learning and enhance your resume.
In this article, I’ll share five effective ways to earn money during your MBA. These aren’t just theoretical tips—I’ve personally used many of them, and I’ve seen countless others do the same. The numbers are real, the methods are actionable, and the potential is significant.
1. Internships – Your First Income Opportunity
MBA colleges assist students in securing summer internship opportunities after the first year. In addition to the learning experiences, these internships are paid opportunities that often offer competitive stipends.
While top-tier B-schools place students in internships with stipends as high as ₹2–3 lakhs for two months, even mid-tier schools offer chances to earn ₹50,000 or more. There are two routes: on-campus placements, which are structured and competitive, and off-campus internships, which you can secure through networking and building a strong LinkedIn presence.
Start networking early, avoid last-minute outreach, and use platforms like LinkedIn and alumni networks to discover these hidden opportunities.
Potential Earnings: ₹50,000 – ₹2,00,000
2. Case Competitions – Learn, Win, and Earn
Case competitions are hosted by major companies looking for fresh solutions to real-world business challenges. They provide cash prizes and, more importantly, potential pre-placement offers (PPOs) and pre-placement interviews (PPIs).
Some of these contests offer prize money ranging from ₹1–2.5 lakhs, and many begin as early as the first week of your MBA. You can find them through your campus placement cell or on external platforms like Unstop and InsideIIM. Even if your B-school doesn’t attract the top competitions, you can still participate through these open calls.
Participating in and winning such competitions boosts your problem-solving skills, enhances your resume, and opens doors to elite corporate opportunities.
Potential Earnings:
- Nestle Leaders League offering 1 lakh worth of scholarship for the winning individual
- ITC Interrobang is offering 2.5 lakhs for the national winning team
- Flipkart WiRED is offering 1 lakh worth of E-Gift vouchers for the national winning team
- HUL LIME is offering 10 lakhs for the national winning team
Get access to such unique MBA career insights
Join my 4,500+ followers for placement preparation guidance, the latest MBA career strategies & tactics for you to create the best career.
3. Tutoring and Mentoring – Share What You Know
If you’re confident in a particular subject, mentoring junior students or guiding MBA aspirants can be both fulfilling and financially rewarding.
Start by offering help informally to classmates. As your confidence and credibility grow, you can expand to one-on-one coaching sessions via platforms like Topmate. Initially, offer free sessions to build experience and testimonials. Later, you can charge anywhere between ₹500 and ₹1,500 per session, potentially earning ₹5,000–₹30,000 or more per month.
Mentoring helps you solidify your own concepts, improve communication, and practice structured thinking—skills that directly translate to interview success.
If you’re unsure how to actually start offering help, structuring sessions, or getting your first few clients — I’ve been through it and can guide you step-by-step. I offer 1:1 sessions on Topmate where I help you plan your approach, set up your profile, and build confidence to start coaching others. Book a session with me here — let’s turn your skills into something valuable for others and sustainable for you.
Potential Earnings:
- ₹500 per hour x 10 sessions = ₹5,000
- ₹1,500 per hour x 20 sessions = ₹30,000
4. Freelancing and Live Projects – Work on Real-World Problems
Freelancing and live projects let you engage with real businesses on short-term assignments. These include marketing, strategy, design, analytics, or tech work.
Live projects often offer a stipend of ₹5,000–₹10,000, though many are unpaid but add significant value to your resume. Freelancing, on the other hand, can scale much higher. I personally earned over $5,000 (around ₹4 lakhs) in my second year through freelance marketing projects—despite having a speech impediment and being initially hesitant to even speak in class.
Use platforms like Upwork, Fiverr, and LinkedIn to market your services. You can also connect with consulting clubs at your B-school, which often source live projects from startups and corporates.
Done right, freelancing can lead to retainer contracts worth ₹20,000 to ₹1 lakh or more per month—and sometimes even full-time job offers.
Potential Earnings:
- Live Projects: ₹5,000 – 10,000 per project
- Freelancing/Consulting:
- ₹20,000 – ₹1,00,000+ per project
- ₹5,000 – ₹1,00,000 per month (retainer)
5. Starting a Micro Business – Long-Term Potential
While it may sound ambitious, starting a small business during your MBA is not unrealistic. In fact, it’s one of the best ways to apply everything you learn in real time.
You can start with content creation—write a blog, create videos, or sell digital products. I started a marketing blog during my MBA which went viral and brought in international freelancing clients. You can also consider exploring dropshipping as a way to sell physical products.
The early stages (typically 6–12 months) bring in zero income. But if you’re consistent, it can evolve into a sustainable revenue stream generating ₹5,000 to ₹30,000 per month—or significantly more.
More importantly, it cultivates an entrepreneurial mindset and helps you master real-world skills like marketing, finance, project management, and operations.
Potential Earnings:
- Nothing for 6 months
- Next 6 months: ₹5,000 – ₹30,000 per month
- Next 1 year: ₹20,000 – ₹2,00,000 per month
Final Thoughts
Everything about your MBA—from choosing your college to evaluating job offers—is influenced by money. Instead of waiting to finish your MBA, start earning now. Each of these five methods—internships, competitions, tutoring, freelancing, and micro-businesses—offers a unique blend of learning, income, and opportunity.
Even a conservative estimate of earnings from these avenues can cover a substantial part of your tuition and living costs. More than that, they give you the confidence and skills that no classroom alone can offer.
Take action in your third term or when the academic load lightens. Start small, build steadily, and you might just find that your MBA pays off before you complete the program.
Your Authors
Along with Darpan Saxena, this article has been co-authored by Om Kasarkhedkar.
Om is a marketing enthusiast with strong leadership skills, creativity and a knack for helping students with their CAT preparation. As an aspirant himself, he had received interview calls from the prestigious MDI Gurgaon and MICA, Ahmedabad.
