A degree in Business Management at a master’s level readies the student to contribute to the activity of running a company. Leading, planning, organising, staffing, monitoring, and controlling, comes under Business Management. As you spend more time with the degree, you realise the factors of business management; the learnings and knowledge skills of being placed in a position of managerial responsibility. It is one of the most versatile degrees of now. Let’s talk more about studying for a Master in Business Management (MBM), in this blog. Read on below.
This Blog Includes:
Masters in Business Management: An Overview
It’s easy to understand when things are put in perspective in a single section. This is why we provide you with an overview of Masters in Business Management.
|Course Name||Master in Business Management|
|Course Duration||2 years|
|Average Fees||INR 1 lakhs – INR 6 lakhs, per year|
|Course Name||Master in Business Management available as an MA or MSc|
|Admission Process||Based on SOPs, LORs, Academic Profile, GMAT, and Merit; per particular university’s requirements|
|Average Course Fee||Up to INR 20 lakh per year|
Why Study Masters in Business Management
A Master in Business Management has its own set of reasons for being studied. What are they? Let’s have a look at the same:
- A Versatile Study Experience
With a great learning environment surrounding business management, there’s also an option to choose from several electives, giving you the chance to widen your horizons. Additionally, the Masters in Business Management course is also aligned with the needs of the current global employment market.
- Practical Experience
Along with theoretical knowledge, MBM degrees provide great in-depth practical knowledge to its students. This allows students to acquire leadership skills early on in their careers.
- Helps Develop Managerial Skills
As mentioned in the preceding point, an MBM degree can help you acquire leadership skills. But that’s not all. There’s also the development of managerial skills that the students journey through with the help of the subjects covered in the degree. For example, the degree will teach you how to be a quick problem solver, and how to apply managerial theory to the world of business.
- Satisfactory Income
With great monetary packages in the field of management, the students will receive a satisfactory level of income once they complete their master’s program. Also, with a master’s degree, you are estimated to earn 40% more than just with a bachelor’s degree, in the field of business management.
Must Read: Bachelor of Business Management
Most business management programs cover the following modules in their course structure:
- Managing organizations
- Business Accounting
- International business issues
- Business law
- Management strategy
- Managing people
- Supply chain and operations management
- Human resource management
Top Universities Abroad
As per QS World University Rankings by Subject 2022, the below are the top global institutions for a master’s degree in the subject of Business and Management.
|University||Country||QS Ranking 2022|
|Harvard University||United States||1|
|London Business School||UK||3|
|Massachusetts Institute of Technology (MIT)||USA||5|
|University of Pennsylvania||USA||7|
|University of Cambridge||UK||8|
|University of Oxford||UK||9|
|HEC Paris School of Management||France||10|
Top Colleges in India
Some of the top colleges for MBM are as follows:
- International Institute of Management and Technical Studies, Kolkata
- Institute Of Management Research and Development, Dhule
- Tamil Nadu Agricultural University, Coimbatore
- SCET Hyderabad
- Synergy Institute of Management, Pune
- University Of Calcutta, Kolkata
- V L B Janaki Ammal College Of Engineering And Technology, Coimbatore.
The requirements to get enrolled in a Masters in Business Management program vary from region to region and require a range of documents and specifications. Below are the basic eligibility criteria and need of documentation for taking admission to the Master in Business Management. We have distinguished the eligibility criteria for India and abroad.
- The student must have completed a bachelor’s degree in business administration or a relevant field with similar subjects and should have scored a minimum aggregate of 55%.
- Depending on the university, the student should be qualified for entrance tests such as CAT, CMAT, etc.
- The student should meet the requirements of different colleges as per their admission process.
- The students must have passed the bachelor’s in any relevant field, with at least 50% – 55% marks.
- Proof of English Language Proficiency. For example – IELTS, TOEFL, PTE, CAEL, etc, as specified by the university, are required for non-native English speakers.
- GMAT or GRE scores, depending upon the university.
- General admission documents such as Letters of Recommendation and Statements of Purpose.
To study abroad, the following are the basic requirements of documentation for getting admission into a Master’s in Business Management.
- Graduation transcripts
- Post-graduation transcript
- Evidence of citizenship (Passport)
- Name and contact details of two professional references.
- CV/ Resume (updated)
- Letter of Recommendation
- English Language Proficiency Test Score
- Statement of Purpose
It varies from university to university to get admission to a Master’s in Business Administration. One fortunate availability is the presence of help from Leverage Edu. You can avail of our services, and we can guide you, step by step, to enrol in a university of your choice.
Here’s an easy 5-step process to complete your application process:
- Call our experts on 1800 572 000 to shortlist your favourite universities and courses. Start your application to multiple universities through our one-dashboard platform.
- Compile all your documents like SOPs, essays, certificates, LORs and exam scores like IELTS, TOEFL, GRE, GMAT, etc.
- Meet all the application deadlines and start the application process for accommodation, students visa, and scholarships/student loans.
- Accept the offer letter and meet your teachers, college mates, and roommates virtually.
- Get your visa approved and fly to your dream university.
There are career prospects in various fields with a Master’s in Business Management. The following are some of the domains:
- Human resources and recruitment
- Banking and Finance
We also share with you some of the job profiles. These are as follows:
|Business development manager|
An overall median salary of a student who has a degree in Masters in Business Management is stated below.
|Median Earnings||£41,200 (INR 39 lakh)|
MBA, as the name suggests, is more related to business administration, preparing students for taking up leadership roles. Business management is more towards managing people and personnel operations.
No, a Master of Management is not equal to MBA. Master of Management does not require the students to carry the same amount of work experience as MBA students are required to.
Though MBA is more well-known than MBM, the latter is slowly becoming more relevant and popular. Depending on the student and the chosen course, it’s made sure which course is the more suitable one.
This was all about a Master’s in Business Management. If you want to get into a high-ranked university, you’ll need more than just good grades; you’ll also need a flawless application. You may enlist the assistance of Leverage Edu specialists to assist you with the application process so that you can realise your goals. Call us immediately at 1800 57 2000 for a free 30-minute counselling session.