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 MBA 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 an MBA.

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 an MBA:

  • 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. An MBA 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 an MBA 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 MBA Programs

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 MBA 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 in MBA 

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 MBA in India 

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

Exam Name Exam Conducting Body Date of ExamBeginning of Application End Date of Application Date of Result
KMAT 2021Karnataka Examination Authority (KEA)October 2021 (Tentative)June 2021(Tentative)September 2021 (Tentative)November 2021 (Tentative)
CMAT 2021All India Council for Technical Education (AICTE)January 2021December 2020 (Tentative)December 2020 (Tentative)To be announced
ATMA 2021Association of Indian Management Schools (AIMA)2nd week of February 20213rd week of November 20201st week of February 20213rd week of February 2021
IBSAT ICFAI Business School 26-27 December, 20201st July 202016th December 20201st week of January 2021
CAT Indian Institute of Mamagement 29th November, 20205th August 202023rd September 20202nd week of January 2021
NMAT by GMACGraduate Management Admission Council 4th November 2020 – 30th January 202114th September 202020th November 20203rd week of February
IIFT 2021 Entrance Exam Indian Institute of Foreign Trade 24th January 20216th Novekber 2020 20th December 2020To be announced
Xavier Aptitude TestXavier School of Management 3rd January 202112th September 202030th November 2020To be announced
MICAT I 2021Mudra Institute of Communications, Ahmedabad 5th December 20216th October 202025th November 202021st December 2021
MICAT II 2021Mudra Institute of Communications, Ahmedabad30th January 202126th November 202020th Janaury 202114th February 2021
TISSNET 2021Tata Institute of Social Sciences To be announced To be announced To be announced To be announced
TANCET MBA 2021Anna University, Tamil NaduLast week of February 20211st week of Janaury 20211st week of February 20213rd week of March 2021

Syllabus for MBA 2021

1st Semester 2nd Semester 3rd Semester 4th Semester
Business Communication and Soft SkillsMarketing ManagementCorporate Governance and Business EthicsProjects and Assignments of Internship 
Corporate Social ResponsibilityBusiness Law Supply Chain Management
Tools and Framework of Decision MakingCorporate Finance Corporate Finance – 2
Principles of AccountingOperations ManagementMarketing Research
Micro-Economics Macro-EconomicsManagerial Economics 
Organisational Behaviour – 1Organisational Behaviour – 2Business Intelligence
Quantitative Methods and StatisticsProject ManagementFinancial Modeling 
Principles of Marketing ManagementOptimization and Project ResearchStrategic Management

MBA Subjects 

MBA Finance Subjects 

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

MBA Marketing Subjects

Brand ManagementDigital Marketing 
B2C Marketing B2B Marketing 
Retail Management Marketing Management 
Sales and Distribution Rural Marketing 
Consumer BehaviourAdvertising and Sales Promotion 
Marketing of Financial Products Consumer Behavior 

MBA 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 DesignPerformance Management and Competency Mapping

MBA 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:

Finance deals with the concepts of controlling and reviewing the collection of money along with numerous monetary resources and investments. It imparts knowledge about the different opportunities in the financial market by teaching them to analyze company reports, devise ideas on for increasing stock values, forecast trends of the economy, predict the risks and keep a balance of both risks and profits. Investment portfolio management also forms a key part of MBA in Finance. 

If you are interested in exploring the role of media in the field of Management, then an MBA in Marketing is an ideal specialization for you. Marketing is considered as the heart of any organisation and with the advancing technology, this field is witnessing tremendous change. The course for this specialization is structured to teach students about the field of Marketing along with giving them an overview of marketing strategies, consumer trends, market research and product management in numerous industries. 

Recruiting personnel and maintaining a company’s workforce are the key responsibilities of the Human Resources department of an organisation. The field of Human Resources equips students with a complete understanding of handling the recruitment process, providing training for proper development, maintaining the workforce regulations, providing compensation as well as benefits, in terms of health, safety, labour and welfare and assessing the performances of the company’s employees. 

  • MBA in Operations

The field of Operations is the linchpin of every business and is multidisciplinary in nature. You will get to develop skills such as organizing, planning and supervision of manufacturing, production and the provision of different services. As an Operations Management graduate, you are expected to ensure that an organisation is successfully turning the inputs to outputs in the most efficient manner as this field is more result-oriented than the other branches. 

  • MBA in Information Technology

This MBA specialization integrates Business Management with the phenomena of technology. There is always a constant need for professionals who possess a complete understanding of Information Technology. Whether your company provides services and products through an online platform or uses technology for its day-to-day functioning, the need for MBA IT graduates will always be there. 

Some other key MBA specializations include:

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:

  • MBA in USA: The most common destination for students to study abroad, USA is home to the world’s top management schools and universities. MBA in USA is definitely a good option as you will get learn from world’s leading business leaders and international exposure to the business world which is another added advantage. 
  • MBA in New Zealand: Housing universities that offer the world’s best and affordable programs, MBA in New Zealand is an option worth considering. With a diverse culture and excellent academic and teaching curriculum, you will gain tremendous knowledge and experience in the field of Management.
  • MBA in Germany: With the academic course structured to provide you with in-depth insight on numerous critical topics, MBA in Germany definitely is a good choice with its affordable education costs and practical-oriented learning that is an integral part of every course.

Other Major Countries Known for their MBA Programs include:

Top Colleges in India 

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

Name of College NIRF RANKING
IIM Bangalore2
IIM Indore7
IIM Ahmedabad1
IIM Lucknow 4
IIM Kozhikode6
IIM Calcutta 3
MDI Gurgaon10
IIT Delhi 8
VGSOM – IIT Kharagpur5
XLRI Jamshedpur9

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 arethe top collegs to pursue MBA from abroad along with their QS Global MBA Rankings and the fees they charge.

Name of University Location QS Global MBA Ranking Average Cost Per Annum in INR
INSEAD Singapore 376,05,000
London Business School United Kingdom 682,90,640
The Wharton School United States of America 11,23,79,221
HEC Paris France749,19,000
Kellogg School of ManagementUnited States of America 1057,03,750
Harvard Business School United States of America 51,11,71,692
Stanford Graduate School of Business United States of America 11,13,64,276
MIT Sloan United States of America 31,17,38,760
The University of Chicago Booth School of Business United Kingdom 891,26,000

Career Options after MBA 

An MBA program is divided into two categories – MBA General and MBA Specialized. The two types of programs are structured to suit the requirements of different managerial roles. There is a huge requirement for MBA 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 MBA 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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