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MBA OVERVIEW

Master of Business Administration (MBA) is a globally-recognized degree specially designed to develop the skills required for making careers in the field of business and management. Initially MBA is limited to Business world only but now its importance and value has multiplied several times and it is required in almost every field. This programme is a gateway to an overabundance of job opportunities in the corporate world. MBA is one of the most popular post-graduate programmes in the world as students from any streams like Science, Commerce and Humanities can pursue it. An MBA or Post-Graduate Diploma in Management (PGDM) is generally a two-year course which is divided into four to six semesters. It is not always necessary that there will be four to six semesters in MBA or PGDM. There are some private institutes that also offer one-year PGDM programmes. Most are the MBA programs are offered in English. MBA program was first introduced at universities in the United States in the 20th century.



Being a most popular course, MBA can be pursued in various modes like regular, online and distance education. Today there are more than 2,500 MBA programs offered globally. The regular MBA which is also known as full-time MBA is the most popular among all the types of MBA. This programme is a combo of theory classes, practical projects, internships and campus placement. Anyone both Fresh graduates as well as candidates with a work experience can opt for a full-time MBA. On the other hand, candidates with a work experience can do Executive MBA as it is designed to enhance their managerial skills of the candidate to stay relevant in the job market.

Two-year MBA programs are still common, but one-year programs have become increasingly popular in the world. There are many management institutes which offer Post-Graduate Diploma (PGD) or Post-Graduate Programme commonly known as PGP in Management instead of an MBA degree. Professionals, who are not willing or unable to take a year or two off to do a full-time program, can pursue MBA in Part-time mode. Nowadays, online programs are also widely available.

Candidates get easily confused about whether to opt MBA or PGDM. There is not much difference between the two, but the difference exists. Following table will clear your doubt regarding the difference between MBA and PGDM.

Difference between MBA and PGDM

Basis of Difference

PGDM

MBA

Recognition or Affiliation

PGDM colleges are independent and take own decisions. These are autonomous bodies so they are not affiliated to any university

MBA colleges are not independent as PGDM Colleges. They are recognized by the universities and they have to strictly follow the rules of the universities.

Curriculum

PGDM is a industry oriented course which changes as per the need and requirement of the real world business environment

MBA is a single core based curriculum which is offered by the university. It will change once every 3-5 years.

Key focus of the course

To develop market systematic industry oriented training. Practical knowledge, creation of real life business circumstances, development of soft skills as well.

Generally theoretical aspects of management, technical skills, and more exam oriented are focused.

 

Course fee

Fee of PGDM program is higher as compared to MBA program. Fee for PGDM colleges generally starts from 5 lakhs and rises upto 15-20 lakhs depending upon the type of college.          

The fee for MBA at government universities and colleges are low as compared to PGDM colleges. Fee for MBA may vary depending upon the type of MBA and type of college.

Award

PGDM is a Diploma course    

MBA is a Degree Program

Course Duration

Two Years      

One/ Two Years

Exams Organized by

By individual institute/college

By Universities

Entrance Exams

PGDM colleges can select from one of the 6 approved entrance exams. These exams are MAT, GMAT, CAT, XAT, CMAT, ATMA

MBA colleges generally follow university rules which are governed and controlled by the state government. MBA colleges take admission through state-level exams like TAN-CET, MAH-CET, MET-MP. And also self-examinations like SNAP, TISS, NMAT, IRMA, and IBSAT.

           

MBA ELIGIBILITY

For pursuing Full-time MBA, candidates need to fulfill some eligibility criteria. Following are the eligibility criteria:

  • The basic and the foremost eligibility criterion for is completion of Graduation in any discipline or stream (or equivalent) from a recognized university.
  • It is mandatory for candidates who wish to pursue Full time MBA, to score a minimum of 50% in Graduation and for reserved category it is 45%.
  • Final-year appearing candidates are also eligible to apply for MBA but they have to present the proof of completion of Graduation degree within the duration specified by the institute or college.
  • Quality business schools generally prefer those candidates have at least a few years of professional work experience in the relative field before starting their MBA program.

 

TOP MOST ENTRANCE EXAM

The MBA entrance exam is becoming very popular these days. In a generation where most parents are giving their children only two career options to choose from, it makes one wonder how much students are getting attracted to MBA. Even candidates who have work experience are leaning towards MBA degree. After experiencing the corporate culture and realizing how much trouble it takes to work as an employee, people now want to see themselves as an entrepreneur or a manager. An MBA degree is helpful either. Not only this, students with dollar dreams are appearing for their MBA exam abroad.

For pursuing MBA, candidate must write an Entrance Exam especially to get a seat in the top most colleges in India like IIMs. Almost every top b-School which can give high boosting points to your career MBA need scores of your Entrance Exams like CAT, MAT, etc. There are some college and Institute where there is no need of appearing in a entrance exam. So one can get admission in MBA without entrance in some colleges but it will not be much help to his career.

Following are some of the top entrance exams for getting admission in topmost colleges of India:

  • CAT - Common Admission Test
  • MAT - Management Aptitude Test
  • CMAT - Common Management Admission Test
  • ATMA - AIMS Test for Management Admissions (ATMA)
  • NMAT - NMIMS Management Aptitude Test
  • SNAP - Symbiosis National Aptitude Test

 

Top Most MBA/PGDM colleges

MBA is a degree which can be pursued by anyone irrespective of the stream selected earlier. The only thing which is required for doing MBA is completion of Bachelors’ degree in any stream from a recognized and approved university/institute. As MBA is one of the most preferred options after completion of Bachelors, most of the students run to pursue MBA just after completing their graduation. But before taking any decision, students should properly research about the colleges offering MBA courses as every college advertises itself as the best college for MBA. So it is necessary to do due research before making a decision to ensure that you find the best college that suits your requirements perfectly. Some of the important points to consider while selecting a college for pursuing MBA are:

  • Recognitions and approvals - Make sure it has the right recognitions and approvals from all of the authorities. Recognition and approval for an MBA college is integral is very important as it will directly affect value of its Degree.
  • Faculty - The faculty should be experienced and should be mastered in their respective fields.
  • Placement- Placement is the foremost thing which is considered by a student for taking admission in any college. The college must possess a good placement record. And it should be connected with major organizations to give their students the best chances of placements.
  • Infrastructure- Infrastructure is also considered while selecting a college. It plays a vital role in overall development of the student. Therefore, the college should employ advanced technologies in their infrastructure, and should be well-equipped with facilities like library, computer labs, etc.
  • Location and Fee- Location and Fee are also a very important factor. Location should be favorable to the student as it may later become a hindrance for the student. Some college charge more fee but don’t provide that much facilities. So students should evaluate whether the college charge reasonable amount as fee.

Above mentioned point are general factors which affect the selection of a particular college. These are many other points that you should consider before choosing a college like specialization provided by the college, internship program, industry visits, foreign tour etc.

Following is the list of topmost colleges of MBA in India:

College

Location

IIM Ahmedabad - Indian Institute of Management (IIM-A)

Ahmedabad

IIM Bangalore - Indian Institute of Management (IIM-B)

Bangalore

FMS - Faculty of Management Studies, University of Delhi

Delhi

IIM Calcutta - Indian Institute of Management (IIM-C)

Calcutta

XLRI Xavier School of Management

Jamshedpur

IIM, Lucknow - Indian Institute of Management

Lucknow

IIM, Udaipur - Indian Institute of Management

Udaipur

IIM, Kozhikode- Indian Institute of Management

Kozhikode

IIM, Indore - Indian Institute of Management

Indore

IIT Kharagpur -Indian Institute of Technology

Kharagpur

IIT Delhi- Indian Institute of Technology (Department of Management Studies)

Delhi

IIT Bombay - Shailesh J. Mehta School of Management IIT

Bombay

 

Specialization in MBA        

MBA specialization means studying a particular business domain of management. There are numerous specialization offered in MBA. Usually in the first year of the MBA program, the focus is on completion of the core courses which are generally similar to all the students choosing different specialization. These core courses are designed to build a strong foundation of the basic concepts of management across various management subjects. After completion of the core courses, students can choose the area in which they want to specialize. Whatever specialization you have selected, you will be offered by your college proper theoretical knowledge and training in that specific domain to prepare you into a management professional.

 Choosing specialization is a tough task as it needs proper attention towards it. There are numerous factors that may influence your decision regarding the specialization of MBA.

Factors affecting decision making regarding MBA specialization are as follow:

  • Market demand -Sometimes candidates go beyond their Interest and choose that specialization which is in demand in the market. If a particular specialization of MBA is preferred by most of the student then usually most of the other students follow their steps.
  • Interest area- Having interest in something makes it easy and enjoyable to do, so as for the MBA specialization. Student prefers that specialization which is related to his/her long term career goal.
  • Preferred job profiles - For getting a particular job profile, specialization can be chose according to that.
  • ROI of the specialization- Everyone wants to get higher package but sometimes in some specialization there is a chance of getting higher packages as compared to other. ROI plays a major role in affecting the decision regarding specialization.
  • Scope of the specialization - Scope of a particular specialization plays a vital role in decision making. Students generally want to choose that specialization which has a wide scope.

Following are some of the most preferred specialization of MBA:

Finance

Infrastructure

Marketing

International Business

Sales

Disaster Management

Human Resources

Energy & Environment

Operations

Import & Export

Product

IT & Systems

Business Analytics

Healthcare & Hospital

Digital Marketing

Business Economics

Entrepreneurship

Agriculture & Food Business

Advertising

Materials Management

NGO Management

Oil & Gas

Pharma

Retail

Project Management

Rural Management

Sports Management

Supply Chain

Telecom

Textile Management

Transport & Logistics

Forestry

Public Policy

Hospitality

 

Semester-wise Subjects of MBA

At the beginning of the MBA Course common topics and subject are taught which will be same for every student even if they have selected different specialization. This time period is usually a year for a two year MBA program. After the first year and completion of the core subjects, students are then provided both theoretical and practical training based knowledge in the second or final year. Practical knowledge and training is a vital part of MBA. MBA is one of the most preferred degrees because Practical knowledge is a most important pillar of it. The Semester wise subject of MBA is given below:

SEMESTER-I

Organizational Behaviour

Business Communication

Marketing Management

Financial Accounting

Quantitative Methods

Information Technology Management

Human Resource Management

Managerial Economics

 

 

SEMESTER-II

Organization Effectiveness and Change

Management Accounting

Management Science

Operation Management

Economic Environment of Business

Marketing Research

Financial Management

Management of Information System

 

 

SEMESTER-III

Business Ethics & Corporate Social Responsibility

Strategic Analysis

 

Legal Environment of Business

Elective Course

 

 

SEMESTER-IV

Project Study

International Business Environment

Strategic Management

Elective Course

   

 Career Opportunities after MBA

Everyone wants to pursue MBA due to its increased importance. But before opting this option one must be capable of answering that why they want to do MBA. After knowing why you want an MBA degree you can prepare as per your needs and goal. Roles like Client relations; consulting, business planning, resource or system analysis may be a part of your job profile.

The main reasons which are the point of attraction for doing MBA these days:

  • It earns you more money
  • It gives a chance of promotion in your job
  • It helps you quit a job that bother or irritate you.

Following are some of the career options which are present to an MBA graduate after the completion of the course.

Career options after MBA

  • Finance Manager
  • Marketing Manager
  • Sales Manager
  • Human Resources Manager
  • Operations Manager
  • Product Manager
  • Data Analytics Manager
  • Digital Marketing Manager
  • Advertising Sales Manager
  • NGO Manager
  • Project Manager
  • Telecom Manager
  • Transport & Logistics Manager
  • Infrastructure Manager
  • International Business Manager
  • Risk Manager
  • Energy & Environment Manager
  • Import & Export Manager
  • IT & Systems Manager
  • Healthcare & Hospital Manager
  • Materials Manager
  • Retail Manager
  • Supply Chain Manager
  • Public Policy Manager

 

Salary Package offered to MBA Graduates

Generally MBA holders get a good salary package as compared to other degrees of the same level. But there are numerous factors which will decide earning of a particular MBA graduates. Following are the factors which affects the earning of a MBA holder.

  • Level of experience- It is one of the most important factor for deciding anyone’s salary. Experience makes a big difference to the earnings the MBA holder will receive.
  • Geographic location- It is also a consideration, since the cost of living varies depending on the city and state of employment.
  • Institute or College- Another major factor is the Institute or college in which you choose to pursue an MBA. For instance, Salary offers vary widely between the government or non-profit sector and private sector industries.
  • Specialization- Area selected by the student can affect their earnings

Salary offered to different roles of MBA graduates are given below:

Jobs after MBA

Average Salary Per Annum

Finance Manager

9.6

Marketing Manager

10

Sales Manager

10

Human Resources Manager

4

Operations Manager

7

Product Manager

15

Data Analytics Manager

14

Digital Marketing Manager

4.5

Advertising Sales Manager

8.5

NGO Manager

5

Project Manager

13

Telecom Manager

7

Transport & Logistics Manager

6

Infrastructure Manager

11

International Business Manager

9

Risk Manager

10

Energy & Environment Manager

6

Import & Export Manager

6

IT & Systems Manager

7

Healthcare & Hospital Manager

4

Materials Manager

6

Retail Manager

5

Supply Chain Manager

8

Public Policy Manager

  

Bonuses and Other Perks of the MBA

Salary is not the only earning of the MBA holder, there are many other benefits which are offered to them. Most of the employers also grant benefits other than annual earnings. Even if you are just starting out as an MBA graduate, you may get a signed bonus as well as a benefit package. In addition to those perks, the most common additional compensation for MBA holders is performance-based bonuses, stock option or purchase plans, profit sharing and tuition reimbursement.

Top Recruiters of MBA Graduates:

Almost every company hires MBA graduates of different specialization. MBA is considered as a course which focuses on job training, skills and knowledge building. Therefore it is one of the most preferred courses. In MBA, students are prepared as per their specialization and need of the industry.

Following are some of the topmost recruiters of MBA graduates:

BCG

Citibank

Deloitte

Samsung

ITC

Mahindra

Avendus

Vodafone

ITC

ICICI Bank

Reliance

HDFC

EXL

Larsen & Toubro

JP Morgan Chase & Co.

HSBC

PWC

Philips

McKinsey & Company

Nestle

Aditya Birla Group

Cipla

RPG

Flipkart

Tata

Saint Gobain

TAS

Crisil

Wipro

Credit Suisse

Microsoft

Bajaj

Accenture

Infosys

Microland

GAR

Amazon

Pidilite

Asian Paints

Bain & Company

Apple

 

 


Ansal University



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IIMT Group



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Alliance University