MBA Family Business Management Course, Colleges, Admission, Syllabus, Scope, Jobs and Salary 2021

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Sakshi Gupta

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MBA Family Business Management Is a 2 year postgraduate course with a unique curriculum catering knowledge about the management and owning a family business successfully. It is made in a way that provides an insight about providing some expertise in assisting a family business.

Note: Students who wish to pursue their education in Management field or get a career boost, can check MBA course.

The minimum eligibility criteria for admissions in this course are a degree of BBA, B.Com, B.tech or B.Sc. from a recognized university with minimum aggregate marks of 50%.

The list of colleges which are ranked best among the list for MBA Family Business 

Management is as follows:-

Name of Institute Location Admission Procedure Average Fees 
SIBM Bangalore Entrance Examination INR 6.95 Lacs
Institute of Management, Nirma University (IMNU Ahmedabad) Ahmedabad Entrance Examination INR 3.8 lacs
Indian School of Business Hyderabad Entrance Examination INR 20 lacs
Indian Institute of Management Bangalore Entrance Examination INR 2.8 lacs
S. P. Jain Institute of Management and Research Mumbai Entrance Examination INR 6.45 lacs

Candidates with good communication skills and passion for running a family business can choose this course and can get admission by passing the valid entrance examination like CAT/ NMAT/ MAT/ GMAT/ XAT etc.

Checkout: Top Colleges offering MBA Family Business Management in India

MBA Family Business Management average course fee ranges from INR 1,00,000/- to INR 15,00,000/- per annum for MBA Family Business Management. Graduates of this course can bag an initial high package ranging from INR 12,00,000/- to INR 16,00,000/- in any leading MNC.   

The course MBA Family Business Management helps in understanding the competition dynamics and gets familiarized with the organizational change in terms of globalization, privatization, and liberalization etc.

It develops an entrepreneurial skill in the candidate and hence opening an opportunity to start and run an entrepreneurial venture successfully. 

Candidates after completing MBA Family business management can work as a business administrator, assistant manager, accounts manager etc. With more managerial skills, they can also successfully run a family business after completing MBA.

What is the MBA Family Business Management Admission Process?

What is the MBA Family Business Management Admission Process? 

MBA Family Business Management is a postgraduate course in which admissions are granted only on the basis of entrance examination and no merit based admissions are possible. 

Below are the steps which need to be followed for getting admission in MBA Family Business Management:-

  • Examination registration: Visit the official portal of central level examination and fill all the details including name, email address, password, etc.
  • Download Admit card: Once the admit card is released, download the admit card for examination.
  • Appear for the examination: - On the entrance examination day, appear for the entrance examination. After passing the cut off marks, apply for the preferred college.
  • Register: - Fill up the form by mentioning important details, entrance examination marks and attaching the documents in the college registration form.
  • Merit list: - As per the candidates entrance examination marks, a merit list is formed by every college and a cut off is decided for candidates.
  • Counseling procedure: -   After getting qualified on the basis of entrance examination marks, candidates need to appear for a group discussion and personal interview round for the final selection.

 Admissions are solely done on the basis of aggregate marks scored by the candidates in the entrance examination and counseling   round.

What is the MBA Family Business Management Eligibility Criteria? 

Candidates passing the following eligibility criteria can register for admission in PhD hospitality:-

  • Candidates should have a 10+2 examination certificate with aggregate marks of at least 85% from a recognized board.
  • The graduation of the candidate should be in the following courses:- BBA, Bcom, Btech and BSc from a recognized university
  • Candidates should have aggregate marks of 50% in the graduation degree.
  • Candidates with minimum 2 years of work experience are preferred.

Readmore: MBA Admission Process 2021

What are the MBA Family Business Management Entrance Examinations? 

MBA Family Business Management admissions are granted on the basis of central level examinations like CAT/ XAT/ CMAT/ GMAT among many others. The examination question paper is divided into various sections with reading passage section; aptitude based reasoning sections, mathematical based questions, and even language evaluation. 

Here is detailed information about the entrance examination which are applicable for MBA Family Business Management

Exam Name  Mode of Exam  Application Period  Exam Date 
CAT 2021  Online  August 5- September 23, 2021  November 29, 2021 
XAT 2021  Online  September – November 30, 2021 January 3, 2021 
CMAT 2021  Online  November 1st week- December 2nd Week, 2021  January 4th week, 2021 
GMAT 2021  CBT Mode  Till 31st December, 2021  Throughout the year 

How to prepare for MBA Family Business Management Entrance Examinations? 

All the entrance examinations which are being considered for admissions in MBA Family Business Management are similar and follow an objective evaluation based upon the aptitude, reasoning, mathematics and language evaluation.

Here are certain tips and tricks which need to be taken care of while preparing for entrance examination:-

  • Know your capabilities and judge yourself as per the examination pattern followed for MBA Family Business Management.
  • Make your managerial subjects strong including business laws, entrepreneurial management, marketing management etc.
  • Practice passage based questions, aptitude questions and reasoning based questions regularly for improving the time management.
  • Divide all the sections properly to complete the syllabus on time and study each topic thoroughly.
  • Build a strong command on the data interpretation and language section with regular practice.
  • Solve mock papers regularly and check your improvement to keep an update about the necessary topics which are required to be prepared.

How to get into a good MBA Family Business Management College? 

Below are some points which should be considered for getting admissions in a good MBA Actuarial college: 

  • Prepare well for the entrance examination to get a good score for reserving a seat in a reputed MBA Family Business Management college.

  • Practice for the group discussion and interview round with a fluency on language and knowledge base.
  • The colleges need to be selected as per the preference. Know all the requisites of the desired college to get admission in that particular college.
  • Keep your research thesis and work experience handy for scoring good marks in the collected entrance examination and counseling round.
  • Do track the important dates like registration date and counseling date and follow them positively.
What is MBA Family Business Management about?

What is MBA Family Business Management about? Anchor

MBA Family Business Management is a unique course and can be described by following points:-

  • MBA Family business management is a postgraduate course that throws some importance on the family businesses and how they can be improved in the business sector.
  • It imparts the students various skills to enable them for entrepreneurial ventures and how the innovative changes happening in the business industry can be implemented in their venture.
  • It facilitates the globalization, liberalization and privatization of the firm.
  • Candidates after completing their graduation with minimum 55% aggregate mark can pursue this course after clearing the entrance examination.
  • The course is mostly opted after completing a B.Sc./B.com degree to focus on a certain area and to gain specialized knowledge of the subject.
  • It open door for students either to start a new entrepreneurship venture or successfully running a family business

Find out: Job Offers, Placement, Job Abroad after MBA Course

MBA Family Business ManagementAnchorCourse Highlights

Course Level Post graduation
Full-Form Masters of business administration in Family Business Management
Duration 2 years
Examination type Semester Examination
Eligibility Graduation degree of BBA, Bcom, Btech and BSc from a recognized university
Admission Process Entrance Examination + Counseling
Course Fee INR 1,00,000 to INR 15,00,000/-
Average Salary INR 12,00,000 to INR 16,00,000/-
Job Positions Entrepreneur, Business Administrator, Accounts Manager, Assistant Manager, etc.
Why study MBA Family Business Management?

AnchorWhy study MBA Family Business Management? 

  • MBA Family Business Management can help in fostering and encouraging the entrepreneurial spirit of young minds so that they develop best practices for family business management.
  • It guides candidates to explore the many facets of business continuity, plan the succession of business, opportunity, failure and risk analysis, taxes and finances.
  • It prepares candidates to strike a balance between theoretical and practical knowledge
  • It enables students to pursue new avenues for applying the skills thus learnt.
  • MBA Family Business Management acts as a springboard to those already at executive or managerial positions to plunge into family business. Whether the business is big or small, the students are taught to manage it efficiently.

Read More: PhD Course after MBA

What are Top MBA Family Business Management Colleges?

What are Top MBA Family Business Management Colleges? 

Here are some of the top colleges which offer MBA Family Business Management: -

College Name Location Average Fees Average Salary Package
Sona School of Management Salem INR 41,000 5 LPA
Sandip Institute of Technology and Research Nashik INR 150,00 3.5 LPA
Galgotia University of Business Greater Noida INR 159,000 6 LPA
Royal Global University  Guwahati INR 247,000 5.2 LPA
Dr. DY Patil Institute of Management and Research Pune INR 130,000 8 LPA
Amity University Mumbai INR 515,000 6.8 LPA
Shri RamSwaroop Memorial Institute Lucknow INR 132,000 6 LPA
Parul University Vadodara INR 90,000 4.8 LPA
University of Technology Jaipur INR 90,000 3.8 LPA
Institute of Business Management and Research Pune INR 80,000 5.2 LPA
What is the MBA Family Business Management Syllabus?

What is the MBA Family Business Management Syllabus? 

Here are some subjects which are taught for MBA Family Business Management

Semester I

Semester II

Family Business Management Innovation and Creativity
Dynamics of family business governance Social Entrepreneurship
Business Plan Preparation Technology innovation and sustainable enterprise
Small Business Promotion Business Plan and Ethics
Entrepreneurial Finance Mergers and Acquisitions

Semester III

Semester IV

Sickness and turnaround strategies Organizational Behavior
Business Regulations Managing Human Resource
Corporate Governance and Social Responsibility Finance Management
Finance and tax strategies for family business New Product Development
Cost and Management Accounting Enterprise Resource Building

What are the MBA Family Management Business Important Books? 

Important books which can be used for reference in the course MBA Family Business Management are: 

Name of the Book Author
Take Charge of Your Family Business S A Krishnan
Business Organization and Management Dr. Asthana, Dr. Sahal
Business and Form of Organization S. C. Gupta and V. K. Kapoor
Macroeconomic Theory and Policy. William H Branson
Mathematical Statistics J.E.Freund
What is the MBA Family Business Management Jobs Prospects and Career Options?

What is the MBA Family Business Management Jobs Prospects and Career Options? 

After completing MBA Family Business Management, one can easily manage and take their family enterprise to a different level by implying to the skills. Moreover, the course curriculum teaches the basics of managerial and administration part of a business enhances the entrepreneurial skills in a student, making them start a new business venture successfully.

Apart from it, they can also work as a business administrator and accounts manager in any MNC or organization.

Below are some of the job positions which can be taken after completing MBA Family Business Management

Job Position Job Description Average Annual Salary in INR
Entrepreneur Entrepreneur formulates policies that directly benefit the firm, managing and supervising daily operations of the firm, and planning effective use of materials and human resources.  10-18 LPA
Business Administrator Business Administrators handle the operational, organizational, and managerial responsibilities of the company they work under. The Business Administrator is also known as the CEO/ General Manager/ Operations Manager. 12-16 LPA
Accounts Manager He or She is responsible for managing a number of accounts pertaining to a company. They work to achieve high sales targets and oversee the work of Account Executives.  6-8 LPA
Relationship Manager A Relationship Manager is responsible for the overall relationship of the company in terms of business and finance. 4-6 LPA
Management Consultant A Management Consultant usually provides insights and guides in the process of managing business and taking it forward. 5-8 LPA
What is the MBA Family Business Management Future Scope?

What is the MBA Family Business Management Future Scope? 

Some of the future prospects available after completing the course of MBA Family Business Management are:-

  • Students with MBA Family Business Management can work as accounts manager, business administrator or finance manager in any leading MNC
  • Students who want to pursue further studies can opt for PhD in the same field. PhD in the same course will brush up the knowledge of a student and will develop a more research thinking.
  • After MBA Family Business Management, students can also work as a lecturer or assistant professor in any academic institute or educational hub by appearing for NET.
  • Someone willing to start a new business venture can opt for it or they can continue to run their family business successfully.  
MBA Family Business Management FAQs

MBA Family Business Management FAQs 

Ques. Which colleges in India offer MBA Family Business Management?

Ans. Top management colleges which offer MBA Family Business Management in India are IIM, ISB, Amity University etc.

Ques. Can a commerce student do MBA Family Business Management?

Ans. Yes, a commerce student is eligible to pursue MBA Family Business Management. The major eligibility criterion is that the candidate should hold a graduation degree with at least 50% minimum marks.  

Ques. What is the salary of a business administrator after MBA in FBM in India?

Ans. MBA Family Business Management gives a head start for a fresher. Anyone with MBA Family Business Management can earn upto INR 8,00,000 to INR 15,00,000 per annum as a fresher. After some experience, an actuary earns as much as INR 20,00,000 to 25,00,000.

Ques. What type of subjects does MBA Family Business Management involve?

Ans. Subjects like Entrepreneurial skills, Business Management, business laws, marketing management etc. are taught in MBA Family business Management

Ques. What is the demand of students after completing MBA (Family Business Management)?

Ans. In India, expected job prospects will probably go as high as 20% in the next 10 years. The demand of a manager is high both in India and abroad. Salary packages offered to a person with MBA Family Business Management is also good.

Ques. What are Family Business Management entrance exams composed of?

Ans. The entrance exam is patterned with QMR format. The questions are composed of basic mathematics, aptitude and reasoning questions.

Ques. How to prepare for the entrance exam of MBA (Family Business Management)?

Ans. The entrance exam for MBA Family Business Management is not very tough. A person with a managerial background will find it easy to crack. Moreover, the key idea is to study smartly and practice aptitude based questions for getting through the entrance exam.

Ques. In which sectors a person with MBA Family Business Management can work?

Ans. A person with a degree of MBA Family Business Management can work in the sectors of Banking, Finance, Telecom, Events, Sports, Branding & Advertising, Digital Marketing, Foreign Trade, Human Resource Management, Marketing, etc.

Ques. Is it compulsory to have a commerce background to study MBA (Family Business Management) ?

Ans. No, it is not compulsory to have a commerce background for pursuing MBA Family Business Management. Any candidate with graduation can enter into this course.

Ques. What is the fee in MBA Family Business Management?

Ans. The fee structure for the course of MBA Family Business Management varies as per the college. However, the average fee of the course MBA Family Business Management is INR 1,00,000 to 15,00,000.

Master of Business Administration [MBA] (Family Business Management) : 11 answered questions

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Ques. Which are the best institutes for studying Family Business Management in India?

● Top Answer By Komal Chawla on 10 May 21

Ans. In general, people consider family business doesn't need formal education for it. This is the reason why they fail horribly at escalating their business. After a few generations, the business can't withhold the evolution of the industry and gets diminished.  Below given are some of the best b-schools for studying Family Business Management in India. B-School Courses SP Jain Institute of Management and Research Post Graduate Program in Family Managed Business & Owner Management Program Indian School of Business Management Programme for Family Business IIM Bangalore Management Programme for Entrepreneurs and Family Businesses Institute of Management, Nirma University MBA in Family Business & Entrepreneurship SVKM’s NMIMS School of Business Management MBA in Entrepreneurship & Family business Universal Business School PGP in Family Managed Business Amity University MBA in Family Business Management & MBA in Entrepreneurship Business people do need to invest their time and money in learning the tools of the trade. SP Jain Global has been in the industry for quite some time now and has been regarded as the best in the business and they have evolved their business through generation. So the SP Jain Global would be the potential choice to learn about Family Business Management.Read more
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Ques. How good is XIMB BM for a person with following academics, 10th-95, 12-92.8, and BE (2017)-85, and with work experience of 6 months till April? Should one join it at this stage?

● Top Answer By Gurpreet Singh on 03 May 21

Ans. With such good scores, no one would suggest you join XIMB though it is a pretty good college and reputed too. You should give a shot to old IIMs.  To get into old IIMs, you must score at least 99+ in the CAT exam, but if you have a score of 95+ also, you will land up in one of the new IIMs. Apart from the IIMs, there are other B-schools as well which are pretty demanding and rank high in MHRD ranking such as SP Jain Institute of Management, MDI Gurugram, etc. These institutes are also in the same league as old IIMs.  In a nutshell, you should continue with your job and give the CAT exam to score the 99+ percentile. You will be able to get a better college than XIMB. If you are capable of getting something better, why settle for anything normal. Just re-think upon it and have faith in yourself. Read more
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Ques. Is XIMB BM really worth 20 lakhs (including hostel etc)?

● Top Answer By Debdeep Majumder on 20 Apr 21

Ans. XIMB is considered to be an institute mentored by XLRI Jamshedpur. They are supposed to produce India’s best human resources managers. To answer your question, whether MBA BM (Business Management) is worth 20 lakhs or not, then let me clarify that in the year 2020 the highest salary package offered was 26 LPA. Thus the ROI is decent. 20 lakhs is a big amount, but you will still have an education loan, your EMIs, etc. So, you may receive an average package of 15-20 LPA which seems decent but if every expense is included it might not be enough. Categories MBA (BM) at XIMB Course Fee 18.9 lakh Placement Percentage (Overall) 90-100% Highest CTC 26 LPA Average CTC 15 LPA Recruiting Companies Deloitte, Amazon, Nestle, Berger, Vedanta, Aditya Birla, HSBC, etc. So if you choose MBA for a raise in your income, it can be said that you will be disappointed if you join XIMB. But they are known to have a rigorous curriculum and the teaching is pretty good. The alumni of XIMB are also placed in pretty top companies. If ROI is your major target to study in a B-School, It is suggested you opt for DMS or DFS in DU. Other than that XIMB is good enough.Read more
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Ques. Why should I take admission in XIMB BM?

● Top Answer By Keshav Jindal on 20 Apr 21

Ans. The answers can vary according to various circumstances you, as a student, are in.  The major reason why you should take admission into XIMB BM is that you probably have run out of basic options to choose from. Rather, if you have an option pool surrounding colleges that are most likely the best, then you should refrain from taking admission in XIMB since there are institutes better than your former choice.  Taking admission to XIMB won’t necessarily be a bad choice. It is so because this institute has 30 years of Alumni Network that most of the same league colleges are lacking. Categories MBA (BM) at XIMB Course Fee 18.9 lakh Placement Percentage (Overall) 90-100% Highest CTC 26 LPA Average CTC 15 LPA Recruiting Companies Deloitte, Amazon, Nestle, Berger, Vedanta, Aditya Birla, HSBC, etc. Reputed companies that arrive from SIPs and Final Placement into the institution. Other than that, it has a distinctive culture that students are likely to adapt to. The institution is not a bad choice after all, but at the same time, it shouldn’t arrive at your conclusion on day one. XIMB, other than that, is one of the top 25 B-schools in India and is known to be the second-best under the Xavier umbrella. This makes it a well-reputed college known in the industry. You can have a checklist and go up to various Alumni and students presently studying at the institution to get a clearer view of how XIMB is, and what makes students enroll into it.Read more
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Ques. How good is the XIMB-BM for someone with 5 years of work experience in Supply Chain Management?

● Top Answer By Sourabh Kumar on 20 Apr 21

Ans. The course is great if you are interested in learning concepts deeply. The MBA-BM is the flagship program of XIMB. The academic year consists of three terms, each of approximately three months duration. It is a full-time residential program that involves an average of 14 class sessions a week, each of 90 minutes duration. Categories  Business Management at XIMB Course Fee 15.20 - 18.90 lakh Placement Percentage 90% Highest CTC 26 LPA Average CTC 15 LPA Recruiting Companies Deloitte, UHG, ICICI Bank, PWC, Royal Bank of Scotland, GAIL, Accenture, HSBC, etc. During the placement drive, most of the companies that offer jobs are inclined towards sales and IT. So it mostly depends on where you want to go. Since you have 5 years of experience, ISB or Great Lakes would be more suitable for you. IIMs offer E-PGP programs which suit your profile. You should also try the PGPM program offered by SPJIMR.Read more
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Master of Business Administration [MBA] (Family Business Management) Fee Structure in India


1.60 L (Minimum Fee)PUBLIC COLLEGES2.62 L  (Maximum Fee)
2.11 L (Average Fee)
1.10 L (Minimum Fee)Private COLLEGES10 L (Maximum Fee)
2.19 L (Average Fee)

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Master of Business Administration [MBA] (Family Business Management) Colleges IN INDIA

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Sona School of Management
Salem, Tamil Nadu
AICTE
1.7 L first year fees
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1.5 L first year fees
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1.59 L first year fees
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2.47 L first year fees
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Amity University
Mumbai, Maharashtra
COA
5 L first year fees
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Galgotias University - [GU]
Greater Noida, Uttar Pradesh
NCTE
1.59 L first year fees
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