Master of Business Administration or M.B.A is one of the most reputed 2 year post-graduation degree in the world which is designed to develop skills in management and business.
The average fee for pursuing this course may range anywhere between 2 to 17 lacs INR depending upon the institute or university which provides education in this course. Basic eligibility for MBA is an undergraduate degree in any discipline.
An MBA graduate at an entry level can earn anywhere between 4 to 15 lacs INR annually depending on his/her expertise and the respective institute. Various job profiles in the field are Account Manager, Brand Manager, Equity Research Analysts and Project Manager.
Also the course is provided by more than 3000 institutes throughout the country where the admission and the selection is based on entrance exam. Students can opt for Full-time MBA or Part-time MBA or even Executive MBA.
Usually in India, the duration of MBA is 2 years, which is divided into 4 semesters. However, in India if you want to pursue a professional MBA course or executive MBA course then the duration will be slashed by one year.
MBA for people with good work experience is also offered in some good business schools in India with a time duration of one year.
Regular MBA- The duration of the course is 2 years and each year is divided into 2 semesters. Also a person needs to complete the internship during the middle of 1st and 2nd year of the course which is designed to enhance the practical knowledge of management to help students become thorough with business administration skills in an advanced manner.
Executive MBA- Online MBA, also known as E-MBA is a Management Course focused around working professionals. The courses are structured to impart management education to professionals aspiring to move to mid-level or senior level management. The duration of the course varies from 1 year to 2 years.
MBA is the pursuit of innovative and traditional business methodology developed through collaborative teamwork, individualized self-discipline, and interaction with professors and the business world. The objective is to bring all these aspects together to become a socially responsible and innovative manager, ready to tackle immense issues experienced by companies with poise, knowledge, and for the benefit of the organization and customer service as a whole.
Also it is thought that this course gives a detailed overview of business challenges to make a person fit for becoming a businessman, however the overview is discussed in deep to create a person with excellent managerial and administrative skills and not business skills. Hence it is not necessary that an excellent MBA grad can be an excellent businessman as well.
A person who is interested in solving various challenges related to smooth business running should opt for this course. This course requires a person who is skilled in managing a team and have the ability to take tough decisions in unfavorable situations. Hence a person who loves to take challenges while maintaining calm in tough environment are more likely to find solace in this course. Apart from this, having great communication skills and ability to maintain healthy relationships will only act as a feather in the cap.
There are more than 40 streams to choose while opting for an MBA in India. A brief list of some of the popular streams are-
Almost all the universities offer an MBA course, however there are some Management colleges in India which have an extra edge in terms of infrastructure, level of education and placements. Some of those top MBA colleges in India are-
Indian Institute of Management
Ahmedabad, Bangalore, Kolkata, Lucknow, Indore
Indian School of Business
Xavier Labour Relations Institute
Faculty of Management Studies
Jamnalal Bajaj Institute of Management Sciences
Students with a bachelor’s degree with minimum 50% aggregate in any discipline is eligible for MBA program.
Although it is advised that candidates should have a work experience of minimum 24 months, as many institutes prefer students with corporate experience before entering the managerial level.
In order to get admission in MBA, students need to clear the entrance exam which is followed by a group discussion round and personal interview round. Many institutes like IIM, Faculty of Management Sciences accept CAT score.
CAT: Common Admission Test (CAT) is an entrance exam conducted for admission to MBA programs. The skills tested in this exam are quantitative ability, reasoning, reading comprehension and verbal and non-verbal communication, solving skills and data interpretation. This exam is carried out the month of November.
Universities like Symbiosis Institute of Management, Pune conduct their own entrance test known to be SNAP, which is a paper driven test. Apart from CAT, other exams through which students can get admitted to MBA colleges are CMAT, XAT, MAT, GMAT and NMAT.
Many institutes offer distance education in MBA, in which students are provided with study material (manually mode or online) and assignments, which need to be submitted within a specified time period. Some of the top institutes which provide this option areNarsee Monji Institute of Management Studies (NMIMS), Institute of Management Technology, Symbiosis Center for Distance Learning, Sikkim Manipal University Directorate of Distance Education
The selection of a candidate is screened by the highly qualified and experienced professionals. The weightage of entrance test, GD/PI is 55-65% and 10-20% respectively.