MBA: A Detailed Guide

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.

Overview

The two-year MBA programme can only be pursued after graduating from high school. The table below lists the main highlights of the course:

Features	Details
Course Name	MBA
MBA Full Form	Master of Business Administration
Course Level	Post Graduation
Types of MBA	Full-Time MBA, Part-Time MBA, Distance MBA, Online MBA, Executive MBA and Integrated MBA
MBA Course Fee	INR 2 lakh to 27 lakh and above
MBA Admission Process	Entrance Exam+ Group Discussion+ Personal Interview
Top MBA Entrance Exams	CAT, MAT, XAT, CMAT, NMAT, ATMA, IIFT, IBSAT
Top MBA Colleges	There are 5000+ colleges in India offering Full-Time MBA. Most popular colleges include IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, FMS Delhi, SPJIMR Mumbai, XLRI, IIM Indore, IIM Kozhikode among others
Top MBA Specialisations	Sales, Marketing, Operations, Finance, Human Resources, Digital Marketing and Business Analytics
Average Salary post MBA	INR 5 lakh to 25 lakh per annum
Top Recruiters post MBA	Boston Consulting Group, Mckinsey, Bain & Co, Morgan Stanley, Citibank, JP Morgan Chase, Amazon, Facebook, Google, Adobe, etc.

Why You Should Pursue an MBA?

It 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 Management Programs

The 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.  

Syllabus

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:

• 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

Skillset

Since a manager is expected to lead a group of professionals, effective communication and leadership abilities are crucial for a manager to possess. Here are some of the abilities needed for MBA/PGDM:

Full-time MBA: Required Skillset
Business acumen	Good communication skills
Problem-solving Skills	Management skills
Strong mathematical skills	Research oriented
Analytical thinking	Leadership qualities
Eye for detail	Goal-oriented & ability to work under pressure

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 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

Must Read: How to write SOP for MBA

Top Countries for Masters in Business Administration

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

• MBA in USA
• MBA in New Zealand
• MBA in Germany
• MBA in Australia
• MBA in UK
• MBA in Canada
• MBA in Sweden
• MBA in Poland

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

Entrance Exams 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.

MBA Exam Name	Application Status
CAT	Over (last date was September 21, 2022)
CMAT	To be announced
SNAP	Underway (last date is November 24, 2022)
IIFT	Underway (last date is November 24, 2022)
XAT	Underway (last date is November 30, 2022)
MAT	Underway (Last date December 13, 2022)
NMAT	Over ( last date was October 10, 2022)
ATMA	To be announced

Career Scope: Jobs Roles and Salary

A job with this course qualifies a person for managerial positions such as team lead and department manager. Planning, strategy, execution, team leadership, client liaison, departmental coordination, delegating work and responsibilities, and reporting to higher authorities about projects undertaken are all generally part of a manager’s job description. Some of the well-liked career paths after the course are listed below, along with the associated salaries:

MBA jobs	Average salary (INR)
Finance Manager	9.6 LPA
Marketing Manager	10 LPA
Sales Manager	10 LPA
Human Resources Manager	4 LPA
Operations Manager	7 LPA
Product Manager	15 LPA
Data Analytics Manager	14 LPA
Digital Marketing Manager	4.5 LPA
Advertising Sales Manager	8.5 LPA
NGO Manager	5 LPA
Project Manager	13 LPA
Telecom Manager	7 LPA
Transport & Logistics Manager	6 LPA
Infrastructure Manager	11 LPA
International Business Manager	9 LPA
Risk Manager	10 LPA
Energy & Environment Manager	6 LPA
Import & Export Manager	6 LPA
IT & Systems Manager	7 LPA
Healthcare & Hospital Manager	4 LPA
Materials Manager	6 LPA
Retail Manager	5 LPA
Supply Chain Manager	8 LPA
Public Policy Manager	7 LPA

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.