MBA, stands for - Master of Business Administration. It is a degree which is highly valued by students who wants to pursue their career in management and business. The MBA program is designed to develop theoretical knowledge and practical skills as well for aspiring Entrepreneurs. Studying an MBA helps students to learn about organizing, leading, managing and adapting in different kinds of business environments. This degree help students transform raw potential into opportunities which leads them to become a great Entrepreneur.
There are different types of MBA programs and most of the include subjects like marketing, economics, operation, and accounting. Colleges also provide some elective courses which allow students to follow their professional or personal interests. Some colleges provide internships to the MBA students at an organization or a company, which helps them to understand work environment and also helps them to concentrate on great job opportunities after completing the program. MBA is one of the most popular courses amongst students and is internationally recognized degree around the world. There are plethora of MBA programs provided to students, around 2,500 programs offered in different languages but majorly in English.
This specialization is one of the most chosen MBA specializations in India which offers students with various opportunities around the world as it focuses on the development of skills important for the control and operation of accounting system of any organization or company. The MBA course can be continued as a part-time and full-time degree. Students should have attained an undergraduate degree in commerce or accounting. Also, aspirants who have completed their undergraduate degree with other streams than commerce can also apply for the full-time courses globally. The part-time MBA course is for aspirants with experience of few years and those who are professionals.
Human resources is the area with vast potential. This specialization focuses on various aspects of the operation of an organization. Pursuing MBA in HR sharpen the skills of the students and help them master in the same by acquiring knowledge about the topics relevant to company compensation management, business coaching, and headhunting. An MBA in HR include subjects like Business analysis, Employment recruitment and Organizational Development. MBA in HR is a privilege to the students who are looking for building a successful career in corporate.
Only account and math wizards can manage the Finance part of any organization. Undoubtedly, it is an integral part of organizations. An MBA in finance helps a student master accounting skill by acquiring knowledge that enhances their existing skill set. The recruiter knows that candidate having the degree in MBA in finance is refined in knowledge and suitable for accounting field. Students are prepared for leadership roles in government, financial corporations, and healthcare industries. Students develop skills in various aspects such as managing portfolios developing business strategies and conducting the analysis.
An MBA in Marketing prepares students for a growing business of marketing, selling and developing products to various consumer markets. This program offers various courses in the brand, promotions, product management, marketing strategies and consumer behavior. It also includes finance, business strategies, and human resources. MBA in Marketing gives an opportunity to the students to lead their way towards increased salary, career opportunities, and higher positions. This specialization in MBA trains students to develop various skills which can be transferred and applied to different areas of Business.
It is one of those multifaceted courses which helps students to gain knowledge and understand fundamentals of financial decision making and it stresses on different practical possibilities of commerce and business. It focuses on developing a coherent mindset in students to maximize business potential. An MBA graduate in economics will have the ability to anticipate the development and growth of a business in local and international market as well. An MBA graduate will have to get involved in lots of supervisory roles and decision making. A student not only imparts practical knowledge but theoretical knowledge too which helps them to apply it in practical use in various aspects.
An MBA degree is however not just limited to the business arena. It is also profitable for students who want to build a career in managerial area in the private sector, public sector, government and other sectors. There are various types of programs depending on the duration of the course. Aspirants get to choose from Part-time, Full-time, Distance and Executive MBA program. Some business schools offer online MBA courses. The different types of MBA programs stress on human resources, accounting, finance, marketing, business administration and economics. The knowledge imparted from an MBA degree is totally worth and priceless which escalates success in a business environment. There are some soft skills which can be transferred to various jobs such as:
An MBA degree nurtures the skills and develop skills to expertise for leadership positions. The program helps students to connect with diverse groups – from teachers to business people to politicians to advertisers.
Students are advised to choose Business schools wisely. Choosing the right B school is as important as choosing a specialization of the program. It is highly advised to choose B school with perfectly designed MBA course and great placement opportunities with an international identification.
Some Business schools conduct entrance tests and some of them have their own admission criteria.
A student should have attained a bachelor’s degree (minimum 3 years) with 50% of the total marks (45% for reserved category students including SC/ ST and PWD) from any university affiliated by Ministry of HRD.
Note: The Bachelor's degree attained by the aspirant must be of minimum of three years after completing schooling.
CAT, an admission test is conducted in various cities of India such as:
CAT (Common Entrance Test) is the most popular test among students. This the first test that comes to mind when students think of pursuing MBA. Most of the MBA colleges accept CAT scores. There are many more exams in the list such as MAT, CMAT, XAT, SNAP, GMAT, GRE, and NMAT.
Mostly some students appear in more than one exam in one academic session.
Candidates should procure the following documents at the time of the admission:
The admission in the management courses will be provided on the basis of national level management exams. Candidates can appear in CAT (Common Admission Test) for admission in MBA institutions anywhere in India. After clearing the entrance exam, candidates have to appear in PI (personal interview) and GD (group discussion) for admission.
Forms for various entrance exams are available after July. Exams are conducted from October-January. Group discussion and personal interview process are conducted from Feb-June.
Fall semester begins in late August and ends in late December or early January
Spring semester starts in January and ends in early May.
An MBA degree from an international university helps in understanding business in a better way at international standards and it also gives an international exposure to the students. It is beneficial for students who want to work after completing an MBA course abroad. It helps students to adapt to different kinds of environment and it also helps them to understand a new culture with different perspective and viewpoints. MBA colleges in abroad provide a better education system and infrastructure. The post degree pay is higher if compared to India. Also, the currency makes the difference.
It is true that MBA in abroad us little expensive but totally worth. The national market functions differently than the international market. So, the MBA colleges abroad have a different way of teaching matching international standards.
If you want work in India after completing MBA in foreign then it is not worth. Students are preferred to work abroad after attaining the degree there.
An MBA course in India helps students impart knowledge relevant to the Indian market. An MBA course in India is definitely cheaper than MBA in foreign. Students can obviously pay back their student loan faster. If students want to work in India after completing MBA then it is preferred to study MBA in India itself if keeping economic and knowledge in mind.
Almost 70% of the designed curriculum of MBA course in India is common if compared with foreign. The method of teaching and placement rate is not better than foreign MBA colleges until a student is in one of the IIM colleges.
The post degree pay is lower if compared with abroad. If a student is willing to work outside India after completing MBA course in India then the decision of studying MBA in India is not a good idea since organizations in foreign prefer students graduated from their universities.
In India, the placement rate is much lower than the placement rate in MBA colleges abroad. Students get international exposure after completing MBA course outside India. After completing MBA in India, it is not easy to get placement in foreign since there difference in the Indian and International market. Which is why students with an international degree are preferred in abroad.
MBA students are required to do an apprenticeship in India and abroad as well to impart practical knowledge and adapt work environment.
In India after completing an internship, the students come back to college and wait for getting placement through college but in abroad the companies analyze the performance of the students and offer them a job after completing their internship programs.
Tips to approach the MBA application process and admission
Every student needs help with nuts and bolts of admission process of any course. They wonder how to start with the process and put an application. It is important to make an application stand out. Below are some tips to the same.
It is highly advised to a student not to maintain a pompous tone but positive tone. In India, the way of communication is important than what student communicate during the process of admission. Use of conversational words should be primal. While jotting down the achievements, students are advised to be concise and specific not general and vague.
Answering questions could be tricky and if a student answers all the questions then it might seem a no-brainer. If questions are not answered with ease then the credibility of an applicant sinks. Explaining the revenue you raised or past achievements do add credibility to the resume.
It is advised to explain the career plan student has. If there is no plan yet then there must be some path, a student would want to follow, it is better to put those ideas or thoughts forward. A sensible presentation will stand out and distinguish from other clueless aspirants, who have no plans for the future. It will help students to bring out efforts and approach.