A course full of employment options is one that every student looks for.
M.Phil. (Master of Philosophy) is one such career option that brings about wide placement in the industry after completion of the degree. Master in Philosophy in Business Management is mostly related to studying business and commercial management.
It is a 1-year post-graduation degree of research that certifies the student as a Philosophy Doctor in various fields and one such field is Business Management. It is mandatory to hold a Bachelor’s Degree to opt for this course.
To get admission in colleges for this course, one needs to fill application forms available in the institutes of his/her interest. The estimated fee for M.Phil. in Business Management lies between 23,000 to 30,000 INR depending on the college/university which offers the course.
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After completion of the course, entry level jobs are available with a salary range of INR 2.5 lpa- INR 8.5 lpa. Once a candidate completes the course of M.Phil. they become eligible to do the Ph.D. and can also undergo the NET exam. Increasing number of colleges for Ph.D. are available in India.
|Name of the course||Master Of Philosophy (M.Phil.) in Business Management|
|Average course fee||INR 30,000 /annum|
|Sectors of employments||Business sector, Research fields, Rashtriya Chemicals and Fertilizers Limited, RFC Ltd., Mineral Exploration Corporation Limited (MECL), Dedicated Freight Corridor Corporation of India Limited, DFCCIL|
|Average entry level salary||INR 2,50,000/annum- INR 8,50,000|
M.Phil. in Business Management is a higher disciplinary and research-based course which includes research and dissertation writing assignments.
Doing research on latest business management and practices as per the changing scenario in the field of management is basically what is studied in M.Phil. in Business Management. Analyzing, in-depth research, techniques and tools, strategic options, finance and qualitative operational research and similar studies are done.
Technical papers that are studied are namely General Research Methodology and tools or techniques for Management Research.
The different course electives are offered by the management department and they are classified as the derivatives and financial marketing, international human resource management, strategic development, advanced marketing management, latest HRM and OB trends, management economics.
The Master of Philosophy in Business Management includes the specializations in:
Aspirants who wish to apply for this course should have the following qualities:
A list of the top university/colleges offering Master of Philosophy in India are mentioned below:
|Lingayas University||Faridabad||INR 26,000|
|Alagappa Institute of Management||Karaikudi||INR 30,000|
|Shobhit University||Meerut||INR 50,000|
|Central university of Himachal Pradesh||Dharamshala||INR 22,000|
Full time: M.Phil. in Business Management is a 1-year short-term course which enables one to pursue higher level Ph.D. after its successful completion.
Distance learning: At present, distance learning courses for M.Phil. in Business Management are also available and offered by top universities like Alagappa, Annamalai, BITS Pilani, IGNOU and more. It is a 2-year duration course that is open to students who secured at least 55% during its graduation period. It comprises of case study, making presentations, doing researches and providing comprehensive advanced research solution.
M.Phil. in Business Management is best for researchers, academicians, corporate workers and others. One should hold a Bachelor’s degree in the same discipline.
The students who secure a minimum of 55% in the institute’s entrance exam are eligible to apply for this course. SC/ST certificate holders are given 5% relaxation. Also the CA/ICWAI and ACS qualified students can pursue M.Phil degree.
Other students who can opt for this course are those who are from a commerce background. He/she can be an M.Com, MHROD, MIB, MBA or MFC graduate. Valid certificates are required for proof.
An entrance exam is conducted by institutes to check the general knowledge, aptitude and subject knowledge of the candidates. After that, a group discussion and face to face interview round is conducted to check communication skills and confidence for final assessment. The application form is available from October/November up to March.
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There are other selection processes, that can be a personal interview or a written paper varying from university to university. It can be an objective paper with negative marking.
Once a candidate clears the entrance exam they have to submit an application form with complete details and scanned copies of the required documents. An application form costs about INR 1000, depending upon the institute.
The 12-month course is divided into 2 semesters that is of 8 and 4 months.
The 1st semester includes research, elective core papers, and specialization of papers. The next semester includes preparing the dissertation and learning special computer skills, communication and discussion skills, practical training related to the management course.
|Fundamentals of Management||Management principles sound understanding of managerial roles, responsibilities, functions, tools, techniques, processes, strategies, and problem-solving approach.|
|Organizational Behavior, Human Resource Management, and Recent Trends||Organizational Behavior, Human Resource Management, and Recent Trends: Team building, personality development, motivation and leadership quality, HRM (employee benefits, incentive plans, and research)|
|Research Methodology||Sampling, research, investigating, report preparation and more, conducting the review, review writing.|
|Review of Literature||Identifying, making research, review writing, developing theoretical research papers.|
M. Phil. in Business Management is a career-oriented degree and it offers employment opportunities in the private, public, educational as well as corporate sectors. Once a candidate completes the course with satisfactory results, they are qualified to get placed globally. Campus recruitment by many universities is also offered.
After completion of the Masters, the deserving candidates can research in some of the notable places like UNESCO, UNDP, and UNICEF not only in India but abroad as well. It brings an opportunity to make research presentations at the international level.
It is also followed by the University Grants Commission National Eligibility Test (UGC NET) which gives an opportunity to get qualified as a lecturer in renowned universities.
|Recruiters / Organization Name||Designation|
|Indian Railway Finance Corporation Limited, IRFC||Post of Asst. Manager, DGM|
|Aviation, Airline Allied Services Limited, AASL||Manager, Trainee|
|Dedicated Freight Corridor Corporation of India Limited, DFCCIL||AGM/ J. GM/ DGM (Business Development)|
|Mineral Exploration Corporation Limited, MECL||Sr. Manager, Sr. Programmers, Foremen|
|Rashtriya Chemicals and Fertilizers Limited, RFC Ltd.||Sr. Managers (Finance)|
|HSCC (India) Ltd||Dy. Manager, Asstt. Managers and Jr. Draftsman|
In comparison to other Masters level degree such as M.Com, the salary offered in M.Phil. is higher and grows when taken to the doctorate levels. Salaries offered can range from INR 2,40,000- INR 8,60,000.
There are many universities which cater scholarship. If you are looking for admission in M.Phil for the Academic year 2020-21, get connected to the best universities and colleges through Collegedunia.com.