Want to make your career in the Eternally Dilating world of Business?
If yes, then your first big step towards your goal is a master’s degree in management.
Now you may think that there are many management courses available in the current education field but which one is the best?
Of course, everyone wants the best for themselves so today I am going to explain to you about one such management course know as Masters of Business Management.
After going through this blog most of your questions will be answered regarding MBA like
- What is MBA?
- Why should you do MBA?
- Various modes in MBA
- Specializations in MBA
- Eligibility criteria for MBA
- Admission in MBA
- Top MBA competitive
- Top Private and public institutes offering MBA and their fees structure
- Career lookouts after completing MBA
- Skills to be developed to get into MBA jobs.
Let us get started, What is the Full form of MBA? Ever heard about MBA?
The MBA Full Form is MASTERS IN BUSINESS ADMINISTRATION
As per my knowledge, you have heard it from your elders but most of you may not have an idea about it in a detailed manner. So, let’s know first what is an MBA?
An MBA is a master’s degree awarded for the Business Administration program. It is a Two-year program In which you will learn about various aspects of business, how to make a business successful in various fields like Finance marketing, Human resources, Operation manager, Making Strategies to increase in statistics, Business Analyst and other operations to run and develop a business, etc.
Today this MBA degree has become “PICK OF THE LITTER” for postgraduate aspirants regardless of the stream in which they have been graduated.
Post-graduation program commonly known as PGPS. In India, it is offered by the Indian Institute of Management, and a post-graduation diploma in management known as PGDM is offered by various institutes. Both these graduate programs are equivalent to MBAs run by various government and private universities.
So with the above information, I hope you will get a good clarity about MBA.
Now, most of you may think why should we do an MBA?
What are the advantages of being an MBA graduate?
From the above information, we already know that MBA is a masters degree that is done after graduating in any stream and the main reason to be an MBA degree holder is the following benefits such as:
- Their demand in the ever-expanding global market is not going to fade away in the future that easily
- They will be having the highest pay in the industry
- Social status in society.
- Chance to lead a multinational company.
- Due to such benefits, this master’s degree course is considered profitable and a perfect reason to join Masters’s Degree.
Types of MBA Degree/Modes of MBA
After joining an MBA course, the next decision you have to make is a mode of doing an MBA based on requirements and individual needs. Now let us know how a desiring candidate can pursue their course.
There are 5 modes,
The first mode is a Full-time MBA. This mode is pursued by the maximum number of students. 2 years full-time regular MBA is provided by almost all the leading business schools of India
The second mode is Executive MBA. An executive master of business Administration is also a 2-year program but it is aimed at this is executed with at least 5 years of managerial experience.
It is pursued by students keeping their full-time jobs and attending classes on weekends and Fridays
The third mode is part-time MBA. It is opted by those students who want to study without leaving their jobs.it is mostly a 3 year or more program. Students pursuing this course have the flexibility of time to attend their classes on weekends or evening shifts. If they participate in part-time programs then they have less academic involvement than full-time students.
The fourth mode is the online mode of MBA course and students can take the exam online by sitting at their place .with this mode’s help student can get MBA from reputed management Universities by staying home
The fifth mode or the last mode is distance learning or correspondence MBA. This mode is a flexible and, affordable government-recognized MBA that does not require you to attend classes on regular basis.
India’s Top MBA Colleges also offer online MBA, offline correspondence MBA, or a combination of both in Distance learning.
So after knowing these modes and the aspirant choosing his mode the next question that arises is,
We do masters for training and professionalizing ourselves in a particular field which is called specialization.
So the arising doubt is what specializations you should opt /choose in the MBA program.
Specialization in MBA Course
Before that remember that every specialization is not available in every b-school aka Business school,
So first you should have clarity that what specializations you want to opt for and check whether where it is available as per your mode. Maximum aspirants choose the demanding specializations for earning high so let us see the evergreen and demanding specializations that you want to choose are :
- MBA marketing
- MBA financing
- MBA human resources
- MBA operations
- MBA Entrepreneurship etc
To specialize yourself in these above-mentioned specializations the MBA subjects you should study are,
- Fundamentals of Accounting
- Financial Accounting
- Strategy and Fundamental Management
- Organizational Behavior and
- Managing Human Resources
- Entrepreneurship and Business Planning
What is the Eligibility to Get into an MBA course?
Once you decide to go for an MBA course, the question that arises is your mind is to join an MBA course in reputed government or private management Institutes like IIM, UVS, and Chandigarh, etc. The aspiring students who graduated in any stream from top management institutes like IIM may put the condition of getting minimum marks in graduation to be eligible of getting admission in these institutes
Whereas, in some b-schools where it is given 2 marks during the final selection of these candidates.
So it is advisable to score as much as you can in competitive exams.
A higher percentage in bachelor’s degree can help you to appear in the final merit list in the b-school admission process.
How to Get Admission to an MBA in Various Reputed Management Institutes?
So to get into a reputed management institute you need to give an entrance exam and clear them with a good percentage.
For example, if you want to get admission in the PGP program of any of the IIM s then you need to crack the common admission test commonly known as CAT whereas to get admission in post-graduate diploma in management courses of various independent B-Schools then you need to clear any of the 6 approved exams such as:
- CAT: it is a common admission test held in Oct or Nov every year.
- XAT: it is Xavier’s aptitude test held in January every year
- CMAT: common management admission test conducted by auntie every year
- AIMA MAT: All India Management Association management aptitude test held 4 times a year is in February, May September, and December.
- GMAT: graduate management admission test helps you get admission in overseas B-school
- ATMA AIMS: It is a test for management admission held 4 times a year in February, May, July, and August.
Apart from these 6 most important widely accepted there are also some institutes and universities which conduct their aptitude test like 1V set by 5x business schools for providing information
To qualifying candidates in various MBA and PGP courses although the exams are of different patterns such as different syllabus, different no.of questions with varying periods.
Most of the MBA questions of the different level consists of reasoning aptitude, logical reasoning, mathematical ability, and English, etc.
After bachelor’s, many aspirants want to join top reputed universities so let’s see few reputed universities.
But many students also join the best colleges with affordable fees.
In this, I will let you know the fee structure too
Students who are looking for the best Government Universities are,
Top Government Universities
Faculty of Management Studies University of Delhi
Indian Institute of Foreign Trade New Delhi
Jamnalal Bajaj Institute of Management Studies Mumbai University, Mumbai
University Business School Punjab University, Chandigarh
The approx. fee in top government universities varies between Rs-25000 – 2 lakhs
Students who are looking for the best private Universities are:
Top Private Universities
Narsee Monjee Institute of Management Studies NMIMS-Mumbai
Xavier Institute of Management
Xavier University Bhubaneswar
Approx Fee: Rs.17 Rs.20 LAKHS
Top IIM’s Universities
Many students desire to get into IIM’s. so let us see top IIM universities,
In India, there are nearly 11 IIM institutions they are,
IIM Calcutta IIM Lucknow and 16 other
Studying at IIM is not an easy task, and the fee is also very high
The fees in IIM’s are approximately Rs 17 Lakhs –Rs 22 Lakh.
Till hereafter research, you decided to get into the university and then after the 2-year program completed
Now graduating you will land up in jobs. so in what stream you can work in will be your next question.
After getting a master’s degree, maximum jobs are management jobs, either you run to develop a business or you run a business and make profits, you can also become a CEO, lead MNC, human resource (HR), and many new companies and startups can be developed by you.
So you will have many career opportunities compared to other degrees so it is the best choice as per me.
Technology is changing the world, As the change comes with a new profile requiring skills sets.
Obviously, without skills you do master in Business management or not you won’t get placement or job
Skills are compulsory to learn.
To get into a high position after MBA the skills you should develop are:
- Decision-making skills,
- Conceptual and statistical thinking,
- Project handling,
- Clients requirements full-filling techniques,
- Social skills
- Knowledge skills,
- Life skills etc.