MBA

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MBA

Every organization looks for dynamic professionals with a specialized skill set. Completing a bachelor’s degree may not help you stand apart from the crowd and that’s why it becomes important to obtain a specialization to gain expert knowledge of your chosen field thus creating a great impression on your future employer. It will help them understand your passion for learning and developing new skills. A globally recognized professional degree will also lead you to explore immense career opportunities. MBA is considered to be the most preferred postgraduate degree and when pursued from an internationally acclaimed university, the biggest advantage is an exceptional global exposure of the business world. It will also equip you with the required skills of solving real-time business situations with its diligent curriculum and projects. 

There are several prestigious universities across the globe that offer quality programs. If you are someone searching for the right MBA program, here’s a comprehensive article which will walk you through the various important aspects of pursuing a Masters of Business Management.

Why You Should Pursue an MBA?

MBA is the most sought-after postgraduate degree that every management student aspires for. The reason why it has become popular are the various benefits that you can avail while pursuing this course. Here, we have listed the major reasons why you should pursue this program:

  • Endless Learning Outcomes – The main objective of pursuing an MBA is to enable students to grasp every central element that constitutes the field of Business and Management. Regardless of your academic background, it will provide you with the essential knowledge and skills to run a business along with helping you discover diverse managerial careers. Therefore, students from various backgrounds, whether technical, business, arts, or science, can pursue an MBA to enhance their abilities and aspire for greater career prospects.
  • Better Career Opportunities – MBA is a globally recognized degree which provides a wide variety of career opportunities to explore in various industries. This degree can help you look for job opportunities in different fields such as Information Technology, Finance, Human Resource, Economics, Business Management, Statistics, Hotel Management, Arts, Fashion Designing, Cultural Management, etc.
  • Great Salary Potential – There is a significant difference between the salary of a management graduate and the package of a postgraduate with this degree. In comparison to other employees, MBA professionals will always stand out and are more heavily compensated. Whether in the public or private sector, you can acquire a higher package compared to someone with a graduate degree.
  • Be Your Own Boss – Pursuing an MBA, you can gain sufficient knowledge to execute your own business which is why many students become entrepreneurs after completing the course. MBA provides you with requisite knowledge and skills needed to potentially develop and operate your own business. Students can learn Business Management, Business Planning, Financial Handling and Business Analysis to understand the key essentials of entrepreneurship.
  • Personal Development – An MBA can play an imperative role in the personal development of an individual. With a new perspective of the business world, you will get a remarkable exposure into the field of Management by studying under the guidance of business leaders. The course will enhance a student’s problem-solving skills along with enabling them to become amazing conversationalists and advisers.

Explore: SOP for MBA: Essentials to Mention & Samples

Types of Masters of Business ManagementPrograms

MBA programs offer a wide variety of specializations. Each program holds a unique value and is designed according to different career fields. There are various types of MBA programs such as:

  • Full-Time MBA Programs – A full-time Masters of Business Administration program provides students with sufficient knowledge and skills to enter the fast-paced industry of Business and Management. The course duration can stretch from 2-3 years depending on the curriculum of different universities and colleges. The course imparts students with a strong theoretical and practical foundation in business concepts. Most universities offer 2 year full-time MBA programs for those wanting to get advanced exposure into the industry.
  • Part-Time MBA Programs – Part-time MBA programs are designed for working professionals who are already working in the industry and need to enhance their knowledge of a particular specialization in the field of Business and Management. Pursuing a part-time MBA program can be beneficial to avail upscale opportunities without having to break away from your regular job.
  • Executive MBA Programs – These programs are also designed for working professionals aiming to enhance and sharpen their administration and managerial skills. This course can help professionals expand their career potential, acquire leadership qualities and gain international management experience. The most interesting feature of this course is its flexibility to customize your course as well as study timings. 
  • Distance MBA Programs – Distance learning refers to obtaining an education without actually having to attend a course in a college. There are various ways of pursuing distance Masters of Business Management programs through online or correspondence courses that allow students to gain knowledge and do thorough discussions over teleconferencing and videoconferencing. One of the interesting features of pursuing distance MBA programs is that the courses can be completed from the comfort of our home without interrupting your work commitments. The courses also come with flexibility in terms of study schedules.  

Skills Learnt & Required

There are various skills that students learn while pursuing MBA. They are listed below for your reference.

  • Global Orientation
  • Leadership Skills
  • Communication Skills
  • Ability to plan
  • Attitude to solve problems and manage crisis

Entrance Exams for in India 

Here is a table of list of entrance exams for Masters of Business Management in India, along with their tentative and announced dates.

Exam Name  Exam Conducting Body  Date of Exam Beginning of Application  End Date of Application  Date of Result
KMAT 2021 Karnataka Examination Authority (KEA) October 2021 (Tentative) June 2021(Tentative) September 2021 (Tentative) November 2021 (Tentative)
CMAT 2021 All India Council for Technical Education (AICTE) January 2021 December 2020 (Tentative) December 2020 (Tentative) To be announced
ATMA 2021 Association of Indian Management Schools (AIMA) 2nd week of February 2021 3rd week of November 2020 1st week of February 2021 3rd week of February 2021
IBSAT  ICFAI Business School  26-27 December, 2020 1st July 2020 16th December 2020 1st week of January 2021
CAT  Indian Institute of Mamagement  29th November, 2020 5th August 2020 23rd September 2020 2nd week of January 2021
NMAT by GMAC Graduate Management Admission Council  4th November 2020 – 30th January 2021 14th September 2020 20th November 2020 3rd week of February
IIFT 2021 Entrance Exam  Indian Institute of Foreign Trade  24th January 2021 6th Novekber 2020  20th December 2020 To be announced
Xavier Aptitude Test Xavier School of Management  3rd January 2021 12th September 2020 30th November 2020 To be announced
MICAT I 2021 Mudra Institute of Communications, Ahmedabad  5th December 2021 6th October 2020 25th November 2020 21st December 2021
MICAT II 2021 Mudra Institute of Communications, Ahmedabad 30th January 2021 26th November 2020 20th Janaury 2021 14th February 2021
TISSNET 2021 Tata Institute of Social Sciences  To be announced  To be announced  To be announced  To be announced
TANCET MBA 2021 Anna University, Tamil Nadu Last week of February 2021 1st week of Janaury 2021 1st week of February 2021 3rd week of March 2021

Syllabus for MBA 2021

1st Semester  2nd Semester  3rd Semester  4th Semester
Business Communication and Soft Skills Marketing Management Corporate Governance and Business Ethics Projects and Assignments of Internship 
Corporate Social Responsibility Business Law  Supply Chain Management
Tools and Framework of Decision Making Corporate Finance  Corporate Finance – 2
Principles of Accounting Operations Management Marketing Research
Micro-Economics  Macro-Economics Managerial Economics 
Organisational Behaviour – 1 Organisational Behaviour – 2 Business Intelligence
Quantitative Methods and Statistics Project Management Financial Modeling 
Principles of Marketing Management Optimization and Project Research Strategic Management

Subjects Covered in Masters of Business Management

Finance Subjects 

Risk Management  Project Management, Planning and Analysis
Fixed Income Securities International Financial Management 
Security Analysis  Financial Reporting 
Portfolio Managment  Corporate Taxation
Corporate Taxation  Management Control System
Investment Management Quantitative Analysis of Financial Decisions
Financial Derivatives 

Marketing Subjects

Brand Management Digital Marketing 
B2C Marketing  B2B Marketing 
Retail Management  Marketing Management 
Sales and Distribution  Rural Marketing 
Consumer Behaviour Advertising and Sales Promotion 
Marketing of Financial Products  Consumer Behavior 

HR Subjects 

Human Capital Management  Human Resource Management 
Labour Laws  Strategic HR Management 
Business Communication  Business Ethics
Compensation and Reward Management  Talent Acquisition and Retention 
HR Planning and Developmemt  Human Resource Audit 
Cross culture and international HR Management  Learning and Development Management
Organisational Design Performance Management and Competency Mapping

Operation Projects 

Logistics Planning and Control  Theory of Constraints 
Project Management  Supply Chain Management 
Inventory Control and Management  Operation Analytics 
Production, Planning and Control  Business Strategy and Consulting 
Product Development and Innovation  Global Operation Management 
Production Engineering and Lean Management 

Eligibility

While enrolling in an MBA course, there are certain requirements that need to be fulfilled in order to get admission into your desired college. Following are the major eligibility criteria for applicants aspiring to pursue MBA courses:

  • Applicants are required to complete their secondary and senior secondary education from a recognized board of education. 
  • Applicants are required to have completed their bachelor’s degree with an aggregate total of 50% in the course. 
  • There is no restraint regarding the course you studied during the bachelors. Students from any background can pursue MBA.
  • Applicants are required to give certain entrance tests specified by the college or university they are applying for.
  • Applicants are required to give the GMAT or GRE examinations in order to get admission into an MBA college. 
  • Applicants are required to have work experience of minimum 2-3 years in any respective field.
  • Some universities also require applicants to qualify for language proficiency tests such as IELTS or TOEFL.

Also Read: Eligibility for MBA

Writing Career Objectives for your Application

Career objectives are a vital element of your resume as it complements your knowledge and skills and gives the employer an idea of your abilities and characteristics. Indicating precise information, it should not be very long but crisp and impressive. Here are a few tips for writing career objectives:

  • Be Honest – Honesty should be the essence of your resume. Being clear and straightforward about your objectives and goal is beneficial for you as well as the employer. By being honest on your resume, you can avoid the potentially awkward questions which could affect your chances of getting hired. Be clear about your academic background and future goals to help the understand your interests and forte.
  • Keep it Short – Imagine an employer reading the first 3 paragraphs of a resume describing incessantly on “how I could be a valuable employee to your company?” Is it sensible to exaggerate endlessly about yourself? Your career objectives should be crisp and engaging. Don’t exaggerate things to impress the employer. It should only contain a precise overview of your skills and how they are suitable for the job you are looking for. 
  • Mould your Career Objective According to the Job Profile – Make sure you design your career objective according to the specific role and the company. The career objective should go along with the requirements of an employer. Research about the company and understand their expectations for your chosen job profile. This can help you build concise career objectives accordingly.

As an MBA graduate, you should mention your zeal to learn and the amount of effort you’re willing to put in. This will signify your dedication and attitude towards learning new things. To assist you further, here are some examples of writing career objectives for MBA.

  1. “Looking for opportunities to incorporate my skills and training to help the company grow. I am looking forward to exploring my potential by working in the various aspects of this field.”
  2. “I want to join a company that can enhance my skills and strengthen my knowledge. I am willing to explore a wide variety of opportunities that can help me gain a wider perspective and exposure of XYZ field.”

Different Specializations

MBA is a course that is structured to help you develop leadership and managerial skills. The initial phase, i.e. the first year of an MBA program is structured to build a solid foundation of the basic management concepts and understanding the core subjects of the field. The latter part of the program is structured to help you learn and develop skills in a specialized area of Business and Management. You can choose the specialization you want to work in and study it in a detailed manner.

Let us have a look at some of the different specializations:

MBA in Marketing MBA in Finance MBA in Insurance 
MBA in Insurance & Risk Management MBA Operations MBA in Productions
MBA Healthcare Management MBA in International Business MBA in Logistics and Supply Chain Management
MBA in Banking MBA in Interior Designing MBA in Airport Management
MBA in Information Technology MBA in Aviation Management MBA in Agribusiness
MBA in Entrepreneurship MBA in Power Management MBA in Material Management
MBA in Media Management MBA in Data Analytics MBA in Agriculture
MBA in Energy Management MBA in Communication MBA in HR
MBA in Logistics MBA in Computer Science MBA in Pharmaceutical Management
MBA in Retail Management MBA in Construction Management  MBA in Foreign Trade 
MBA in Digital Marketing  MBA in Healthcare MBA in Accounting 
MBA in Quality Management  MBA in Fashion Management  MBA in Banking and Finance

Explore: Best Country for MBA

Top Countries for MBA

MBA programs are offered in universities and colleges across the globe. We have listed down the countries renowned for their MBA programs and their leading Management institutes and Business schools:

Top Colleges in India 

Mentioned below are the top business schools in India with their NIRF ranking.

Name of College  NIRF RANKING
IIM Bangalore 2
IIM Indore 7
IIM Ahmedabad 1
IIM Lucknow  4
IIM Kozhikode 6
IIM Calcutta  3
MDI Gurgaon 10
IIT Delhi  8
VGSOM – IIT Kharagpur 5
XLRI Jamshedpur 9

Must Read: How to write SOP for MBA

Top Colleges Abroad

Most of us aspire to pursue our MBA abroad, the trouble is always choosing the right college or university for ourselves. Mentioned below are the top colleges to pursue this course from abroad:

Name of University  Location  QS Global MBA Ranking  Average Cost Per Annum in INR
INSEAD  Singapore  3 76,05,000
London Business School  United Kingdom  6 82,90,640
The Wharton School  United States of America  1 1,23,79,221
HEC Paris  France 7 49,19,000
Kellogg School of Management United States of America  10 57,03,750
Harvard Business School  United States of America  5 1,11,71,692
Stanford Graduate School of Business  United States of America  1 1,13,64,276
MIT Sloan  United States of America  3 1,17,38,760
The University of Chicago Booth School of Business  United Kingdom  8 91,26,000

Career Options

An MBA program is divided into two categories – MBA General and Specialized. The two types of programs are structured to suit the requirements of different managerial roles. There is a huge requirement for graduates as there are numerous job profiles that require professionals of management background. Some of the major career options for MBA graduates include: 

  • Managing Consultants
  • Human Resource Manager
  • Healthcare Management Experts 
  • Financial Analyst 
  • Marketing Professionals
  • Entrepreneurship Experts
  • Information System Expert 
  • Data Analysts 

Also Read: MBA Career Options

Job Oriented Courses

After completing your degree , there are millions of other courses you can explore to get deeper into a specific field. There are job oriented courses after MBA that will help you progress in your career. These courses are structured to help you develop skills that are oriented with the role you will be filling and specifically structured to help you enter your chosen career field. Some of these courses include: 

  • Society for Human Resource Management Certification: Conducted by the HR Members Association, this course trains students for highly competitive situations and for handling pressure in the business industry.
  • Marketing Management Professional Care: Structured to provide an overall view of the field of Marketing Management, this course is for those who want to move forward in a career in Marketing.
  • Certification for Financial Analyst: This is a course in Finance and teaches students about the important aspects of the financial world. 

Also Read: Job Oriented Courses after MBA

Hopefully, this blog helped you explore the key integrals of an MBA as well as the career prospects that you can discover after completing the degree. It is important to make an informed decision about choosing the right program. Let Leverage Edu experts can guide you through the process of selecting an ideal MBA program, accomplishing the application process and fulfilling the essential steps to successfully land in your dream business school.

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