MBA(Master of Business Administration) is the most demanding 2 years full-time postgraduate management degree program famous in India and abroad. The Popularity of an MBA is very high because of its career opportunities as compared to other Master Programmes in the discipline of business management. Let’s explore more about MBA.
What is an MBA (Master Of Business Administration)?
MBA or Master of Business Administration is a highly demanded and 2 years postgraduate, and Professional management degree program popular in India as well as abroad. It is the program of getting mastery in business Administration.
MBA Admission Process starts with national & state-level Entrance Exams conducted by various authorized educational bodies every year. After the Entrance Test candidates appear in GD/PI organized by the colleges selected by students.
The minimum criteria of eligibility to appear in MBA Entrance Exams is graduation with at least 50% (Relaxation applicable for Reserved Category).
Here all the information and facts are listed about Master of Business Administration.
The full form of an MBA
The full form of an MBA is Master of Business Administration and it provides students a wide scope to choose their career in the field of the corporate world.
MBA Course Highlights
|Full Form||Master Of Business Administration|
|Types||Full-time, Part-time, Distance or Correspondence, Online, and Executive MBA|
|Eligibility||Graduation with at least 50% (Relaxation applicable for Reserved Category).|
|FEE Range||₹ 2,00,000 – ₹ 25,00,000|
|Specializations||Finance, Banking, Marketing, Human Resource (HR), |
Information Technology (IT), Supply & Chain Management,
Agribusiness, Operation, etc.
|Entrance Exams||CAT, MAT, XAT, CMAT, NMAT, GMAT, SNAP, IIFT, etc.|
|Salary (Placement)||₹ 4,00,000 – ₹ 28,00,000 LPA (In India)|
Why should you study MBA?
MBA is a postgraduate degree program and most popular and highly demanded in the corporate world. MBA tag along with the students is enough to describe their qualification in the field of business administration. Companies like to recruit MBA professionals to enhance their management capacity. In spite of all these, there are many other perks and benefits of having an MBA degree as follows:
1. Management Skills– It helps with career advancement
The MBA programme is designed in such a way that students can learn various management skills through its curriculum. It focuses on developing leadership, managerial skills, teamwork, public management, marketing, advertising, sales process, supply chain management, the building of public & business relations and creating partnerships, etc. It also trains how to make self decisions and how to manage difficult situations. Managing all of these makes a man a perfect leader in the business world.
One of the most common reasons for choosing an MBA is that it can lead to the next step in your career. Sometimes, after working for a certain amount of time, people find that they’ve got a certain level in their careers, and they need something else to get to management-level positions. An MBA can add specific business skills to you, such as leadership or strategic skills, that will be good firepower when applying for management-level positions or promotions.
2. Network Building- It helps you meet people
If you start an MBA program, you get the chance to meet a lot of people as you’ll be surrounded by scholars, professors, faculty members, and students from all over the world. You get internships in various companies – which are a necessary part of many MBA programs to learn the practical implementation of your Master of Business Administration degree, so internships are the way to get a step into industries and companies you are interested in.
And beyond that, most B-schools sponsor events such as panels and mixers, where you have a chance to meet people who come from the business world and beyond. Additionally, many MBA institutes’ career services departments host networking events too, where potential employers come and introduce themselves to you and your fellow students. All of these help you to build a strong human network around the world.
3. MBA Specializations– It helps you learn other functional areas and industries
MBA course offers various specializations which help students to be master in one or many of them. These specializations are industry-oriented and help students to get into the industry of their choice. The major specializations are Marketing, Finance, Human Resource (HR), Information Technology (IT), Supply & Chain Management, Logistics, Operations, Business Analytics, and Digital Marketing, etc.
4. High Salary Potential- It helps you earn high salary
Among some great benefits of an MBA program, Job security and top salary are important. The average source of revenue for an MBA graduate is much higher than for a worker with a typical Master’s. You can expect to earn twice as much as what you may get from a regular college degree.
Average salaries for MBA graduates
According to the QS Jobs & Salary Report, here are some of the average annual salaries for an MBA mentioned in the world:
1. In the US – 102,100 USD/year
2. In Canada – 99,800 USD/year
3. In Australia – 98,400 USD/year
4. In Singapore – 82,700 USD/year
5. In the UK – 92,400 USD/year
6. In Switzerland – 123,500 USD/year
7. In Germany – 77,200 USD/year
8. In France – 98,500 USD/year
9. In Italy – 86,400 USD/year
10. In India, the average annual salary for an MBA postgraduate is ₹ 10-12 Lakhs.
In two or three years, you cover the investment made with your MBA education.
5. Entrepreneurship- It can help you to become an entrepreneur
An MBA degree may be the best idea if you have an original business plan and think to launch a start-up. It is the degree that can help you to become your own boss. With proper knowledge of the market and business-related ideas along with an MBA degree, students can begin their own business.
Who are eligible for MBA?
MBA Eligibility Criteria
MBA (Master Of Business Administration) is a postgraduate program and the common eligibility criteria for all MBA programs is mentioned below:
1. A candidate must have passed a graduation degree of a minimum of 3 years of the program in any discipline with 50% marks (Reserved category-45%) from a recognized university or institution. (Final-year Graduation candidates are also eligible to apply)
2. Premier MBA institutions like IIMs and IITs ask for a minimum of 60% marks in graduation. Students belong to reserved categories like OBC, SC and ST are eligible to get 5% relaxation in the percentage asked in thier graduation.
3. Candidates must have appeared in any MBA Entrance Exams (i.e. CAT, MAT, XAT, CMAT, NMAT, GMAT, IIFT, SNAP, MAH-CET, etc.) conducted by authorized bodies. (However some private colleges and private deemed universities offer direct MBA program without entrance exams.)
Who should do an MBA?
1. Students who need to have a career in management can take a look at their probabilities in MBA Courses.
2. This program promises a high salary for many who have the desired skills. Individuals with high management leadership should have a try with a Master of Business Administration.
3. Students who have their long-term plans will have to surely do a Master of Business Administration.
4. Passionate and Ethical individuals who are true to themselves can do this program and take a look at their hand in trade.
5. Many students take Master of Business Administration to either exchange the industry they’re running in or advance to a managerial or administrative position.
6. Almost any student or working skilled person can pursue an MBA program in part-time and online mode.
Types of MBA
There are many types of MBA courses designed according to the need of students and their career growth. Different types of MBA are as follows:
1. Full Time MBA (2 Years)
A full-time MBA is a 2-years professional postgraduate degree course that provides students with a piece of detailed and most extensive business knowledge. This is the most popular form of Master of Business Administration course.
2. Part Time MBA (2-3-5 Years)
A part-time MBA is of 2 to 5 years of duration. It is specially designed for those who can’t pursue a full-time degree due to various reasons. Part-time Master of Business Administration classes are held in the evening or on weekends.
3. Executive MBA (1 Year)
Executive MBA course is designed for working & experienced professionals for their career growth if they haven’t any master’s degree in business. The minimum duration of the executive MBA is 1 year. Usually, the classes of Executive MBA are kept in the evening time or on weekends.
4. Distance or Correspondence MBA (2 Years)
Distance or Correspondence MBA is for those who are unable to join classroom study due to many reasons. In this mode of education, students get their study material at their home address by post or other means. In distance mode, you have to appear in the examination only. The duration of distance or correspondence MBA is 2 years.
5. Online MBA (2 Years)
Online MBA is a modified version of the distance learning MBA program. The Only difference is that in an online MBA program, the classroom lectures are delivered through video conferencing, and the notes & study materials can be carried in pen drives or downloaded in pdf form. Notes also can be kept in the form of recordings of lectures. The duration of an online MBA program is 2 years.
What Specialization should we choose for an MBA?
When we talk about an MBA and the thing that comes to mind is what Specialization should we choose for the Master of Business Administration Program. There are lots of specialization which you choose on the basis of your interest and field of study. Here is a list of MBA specializations.
|Operation Management||NGO Management|
|Product Management||Supply & Chain Mgt.|
|Business Analytics||Healthcare & Hospital|
|Energy & Environment||Business Economics|
|Oil & Gas||Forestry Management|
|IT & Systems||Hospitality Management|
|Project Management||Pharma Management|
|Telecom||Import & Export|
|Agriculture & Food Business||Rural Management|
|Transport & Logistics||Sports Management|
|Public Policy||Textile Management|
|Infrastructure Management||Sports Management|
|International Business||Retail Management|
Job Opportunities after MBA
Students who want to pursue an MBA course may have so many questions in their mind regarding the job opportunities after MBA for instance job scope, roles, and responsibilities, nature of work, skills required for the job, etc. That’s why it is very much important to analyze whether a particular job suits you or not.
In this section, all the details relating to job opportunities after MBA are mentioned such as Which sectors have more job opportunities for MBA graduates, What job roles may be offered, What will be the salary, etc.
Sectors have opportunities for MBA Graduates
- Banking & Finance
- Investment Banking
- Management Consulting
- Data Analytics
- Private Equity
- Asset Management
- Hedge Fund Management
- Media & Advertising
- Agriculture & FMCG
- Information Technology
Salary Offered to MBA Graduates in India
|Job Roles||Min. Salary (Annual)||Average Salary (Annual)||Max. Salary (Annual)|
|Operations Manager||Rs. 3,89,000||Rs. 7,97,786||Rs. 10,60,000|
|Senior Business Analyst||Rs. 4,76,000||Rs. 9,44,493||Rs. 11,70,000|
|Human Resource Generalist||Rs. 1,59,000||Rs. 2,94,138||Rs. 6,78,000|
|Marketing Manager||Rs. 2,98,000||Rs. 7,56,522||Rs. 11,90,000|
|Business Development Manager||Rs. 2,59,000||Rs. 6,01,423||Rs. 11,40,000|
|Human Resources Manager||Rs. 3,19,000||Rs. 7,38,960||Rs. 11,70,000|
|Business Development Executive||Rs. 181,000||Rs. 3,18,081||Rs. 5,93,000|
|Project Manager (IT)||Rs. 5,01,000||Rs. 12,38,000||Rs. 20,00,000|
|Assistant Human Resources Manager||Rs. 2,92,000||Rs. 5,31,567||Rs. 9,42,000|
|Relationship Manager||Rs. 2,03,000||Rs. 4,24,954||Rs. 9,59,000|
|Marketing Executive||Rs. 1,67,000||Rs. 3,05,043||Rs. 5,54,000|
|Business Analyst (IT)||Rs. 3,02,000||Rs. 5,96,465||Rs. 11,00,000|
|Area Sales Manager||Rs. 4,07,000||Rs. 7,81,611||Rs. 11,40,000|
|Senior Sales Executive||Rs. 2,20,000||Rs. 3,99,836||Rs. 7,22,000|
|Executive Assistant||Rs. 1,48,000||Rs. 3,24,264||Rs. 8,09,000|
|Financial Analyst||Rs. 2,23,000||Rs. 4,38,313||Rs. 8,47,000|
|Regional Sales Manager||Rs. 5,57,000||Rs. 11,83,000||Rs. 20,00,000|
|Finance Manager||Rs. 5,22,000||Rs. 11,42,000||Rs. 23,00,000|
|Account Manager||Rs. 3,39,000||Rs. 7,00,000||Rs. 15,00,000|
|Management Consultant||Rs. 5,62,000||Rs. 13,50,000||Rs. 20,00,000|
Note: The mentioned figures above are just approximate values, and they may differ from individual to individual and company to company.