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 exceptional global exposure to the business world. 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 Master of Business Management.
|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 lacks 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 MBAs. Most popular colleges include IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, FMS Delhi, SPJIMR Mumbai, XLRI, IIM Indore, and 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 lahks per annum|
|Top Recruiters Post MBA||Boston Consulting Group, Mckinsey, Bain & Co, Morgan Stanley, Citibank, JP Morgan Chase, Amazon, Facebook, Google, Adobe, etc.|
This Blog Includes:
- MBA: Program Overview
- Why You Should Pursue an MBA?
- Types of Masters of Business Management Programs
- Subjects Covered in Masters of Business Management
- Eligibility Criteria
- Different Specializations
- Top Colleges Abroad
- Top Countries for Masters in Business Administration
- Top Colleges in India
- Entrance Exams in India
- Career Scope: Jobs Roles and Salary
- Job Oriented Courses
MBA: Program Overview
MBA is a popular academic course among students from all disciplines such as science, commerce, engineering, and humanities. Full-time MBA programmes are the most popular among students. MBA programmes are beneficial to both new graduates and working professionals. MBA programmes teach managerial skills that are applicable to any business. After finishing this course, students want to advance to management positions. The Master of Business Administration (MBA) is the original postgraduate degree granted by business schools around the world, and it was initially offered in 1908 by Harvard University’s Graduate School of Administration (now Harvard Business School).
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 is 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 Boss – By 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 the 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 on the business world, you will get remarkable exposure to the field of Management by studying under the guidance of business leaders. The course will enhance students’ 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 to 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 your home without interrupting your work commitments. The courses also come with flexibility in terms of study schedules.
|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|
|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
|Risk Management||Project Management, Planning and Analysis|
|Fixed Income Securities||International Financial Management|
|Security Analysis||Financial Reporting|
|Portfolio Management||Corporate Taxation|
|Corporate Taxation||Management Control System|
|Investment Management||Quantitative Analysis of Financial Decisions|
|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|
|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 Development||Human Resource Audit|
|Cross culture and international HR Management||Learning and Development Management|
|Organisational Design||Performance Management and Competency Mapping|
|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|
While enrolling in an MBA course, certain requirements need to be fulfilled to get admission into your desired college. The 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 bachelor’s. 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 to get admission into an MBA college.
- Applicants are required to have work experience of a minimum of 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
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 an 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 & able to work under pressure|
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 of 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:
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|
|London Business School||United Kingdom||6||82,90,640|
|The Wharton School||United States of America||1||1,23,79,221|
|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 programs and their leading Management institutes and Business schools:
- MBA in USA
- MBA in New Zealand
- MBA in Germany
- MBA in Australia
- MBA in the 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|
|VGSOM – IIT Kharagpur||5|
Entrance Exams in India
Here is a table of the 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|
|MBA Top Recruiters|
|Mahindra||Aditya Birla Group|
|HDFC||Larsen & Toubro|
|JP Morgan Chase & Co.||HSBC|
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 to 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
Ans. MBA Admission requires students to obtain a bachelor’s degree from a recognised university with a minimum of 50% of total grades or higher. Candidates must also pass entrance tests such as the CAT, XAT, MAT, SNAP, and others, depending on the college’s requirements.
Ans. Which MBA makes the most money? MBA in Business Analytics, MBA in Finance, and MBA in Entrepreneurship are three of the highest-paying MBA specialisations. Salary ranges for each of these fields range from 70,000 USD to 90,000 USD (or 60,00,000 INR to 90,00,000 INR per year).
Ans. In general, an MBA is a two-year post-graduate degree programme in business management and administration.
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.
i would love to do my MBA in canada
i would love to do my MBA in canada
Great to know that you are planning to pursue MBA in Canada. Here are a few detailed guides that will help you know more about the MBA in Canada: https://leverageedu.com/blog/mba-in-canada/
You can even connect with our Leverage Edu experts at 1800572000 and they will help you with kickstarting your MBA journey in Canada in 2022!