Career in MBA: Courses, Eligibility Criteria and Benefits

3 years ago

Master’s in business administration (MBA) is a very sought after the postgraduate programme which is recognized in India as well as internationally. The main focus of this programme is to provide practical and theoretical knowledge of business functions. Also to enhance the skill sets required for a career in management. MBA is found to be useful not only in a business world but is also valued for those willing to pursue a career in the government sector, private sector or public sector. MBA can be pursued by any student regardless of their educational background. Be it Science, Commerce, Arts or Humanities etc. making it a popular choice of post-graduation program amongst the students. Prime business schools require candidates to have had one or two years of professional work experience before starting the program. Irrespective of the candidate’s choice of major and minor, the students are required to undertake a set of common subjects like Accounting, Finance, Marketing, Economics, Operations and Human resources during the first year. Some schools also require their students to take up internships at an organization for better career prospects after the completion of the program.

Career in MBA
An MBA Degree?

Types of management courses

Roughly there are about 4500 colleges in India offering MBA. Out of which 82% of colleges offer full-time courses and the remaining offer part-time courses. Nowadays, the corporates are on the hunt for candidates who possess both quantitative as well as qualitative abilities. Business schools are known for imparting such knowledge in their students which explains the sudden surge in the supply of MBA courses across various institutions. An MBA or a Post-graduation diploma in management (PGDM) is generally a two-year course but depending upon the institution one year PGDM programs are available as well. Many institutes also offer Post-graduate diploma (PGD) or Post-graduate Programme (PGP). Courses like online MBA, part-time MBA and distance MBA are perfect for those candidates wanting to pursue higher education whilst working.

Eligibility Criteria

Graduates from any discipline or equivalent from a recognized university are eligible for a full-time MBA program. Some institutes accept 50% average in their graduation which is a minimum score criterion. And 45% aggregate for students belonging to the reserved category. Graduates from the final year are also eligible to register for MBA program only after providing the proof of completion of the degree within the specified time as required by the institute. In case of a B-School, candidates are only eligible for admissions only after passing through aptitude tests conducted by either by top-notch b-schools or an apex testing body. Their tests are as follows: CAT, CMAT, MAT and ATMA etc. Candidates also become eligible by taking up tests like MAH-CET, OJEE, KMAT, TANCET, and APICET which is conducted by the state-level testing body. Some B-schools conduct their entrance exams like IIFT, XAT, NMAT, SNAP and IBSAT which are also accepted by other B-schools as a criterion for qualification. After successfully qualifying in these exams the institutes may conduct the second level of screening for candidates in the form of personal interviews and group discussions. 

Course Fees

Not being able to afford a postgraduate management education is one of the common myths which is believed to be true by the general public. But an MBA course in India can be undertaken for 5,00,000 or less per year. According to a survey posted by Shiksha.com. One-third of MBA courses can be pursued for less than Rs.1,00,000 in India. And another third costs between Rs. 2,00,000 to Rs. 3,00,00 per annum. About 85% of MBA courses will cost Rs.5,00,000 or less per annum and 16% of MBA courses will amount to Rs.6,00,000 and more.

Perks of being an MBA graduate

An MBA program prepares its candidates to solve and manage business case problems in terms of a real-life situation. The case studies incorporated within the curriculum will help them apply tools and strategies learnt through the program to solve scenarios of various corporate organizations. MBA is still a good option for those pursuing to start their business ventures or for those wanting to manage their existing businesses. In a professional field, the candidates enjoy the perks of being entitled to handsome salary packages, hikes and incentives and consistent growth within the company. Corporate’s prefer candidates with higher qualifications and knowledge which makes them eligible for top corporate job placements. Having scored well in the exams is an added advantage during placements. 

Expectation Vs Reality

Career in MBA
What not to expect while pursuing a career in MBA

Candidates will not be appointed to top management positions just because they possess an MBA. Just like everyone else it is important to learn skills, gain experience and prove themselves by applying strategies and solving problems. Candidates should be flexible in accepting entry-level roles and work hard to gradually move up the career ladder. It is important to look at the bigger picture and aim for long term growth whilst sticking to the same company for a long period. The amount required to pursue these higher educations is fairly higher. The salaries offered by corporates, in the beginning, is never equivalent to the investment made. In such scenarios it is important to remember that just pursuing an MBA is not enough, it is a combination of skills acquired, grades scored, even the kind of institute you choose to graduate from plays a huge role. With a little patience and time, the expense on the education will prove to be worthwhile after all.

Rachana Y

Leave a Reply

Your email address will not be published. Required fields are marked *