Master of Business Administration

Why an MBA?

This thought to be a difficult question indeed, but have tried my best to answer it. You shouldn’t be like a sheep in the herd, following your friends; it shouldn’t be out of parental pressure or pressures from your teachers etc.  Firstly it is important to draw a career path for yourself, know where you want to be say in another 10 years.  Then develop a roadmap to your destination to one of the most coveted course “MBA”.  Once you have developed your roadmap mark your milestones, they being what are the entrance exams you are going to focus on, the colleges on your dream list. Let all these be realistic otherwise they hardly have any meaning.

It is said that earning a degree in business is important for those who want to earn a position in the top management of the organization. It is true that he globe revolves around corporate and service oriented economy and earning an MBA becomes your stepping stone to a better employment and ensures success in the job market. All these factors add credibility to MBA making it a popular course.  Then there comes a question is pursuing this degree worth, when you could be working and adding up years to your experience. Experts believe that MBA’s with relevant experience certainly have a better scope in the matter of job as well as pay. It’s a course worth pursuing.

However pursuing an MBA will give you an exposure to basic management concepts like accounting, economics, marketing human relations etc. Once you are done with this and you plan to specialize it is always better to go for subjects that you would want to study and which would yield you in a longer term. Like for instance if you want to make your career in finance it is advisable for you to study corporate finance, don’t make decisions in haste this may jeopardize your career in a long run.

Once you decide to pursue a general MBA or a specialized MBA it certainly is the best option for you. Research suggests that candidates with MBA and required working experience have certainly been in demand in the corporate all over the world. And on an average they earn more than their counterparts.

Different types of MBA courses that are available in India

• Two-year full time MBA
• One year- full time MBA
• Part time MBA
• Executive MBA
• Dual MBA
• Specialty MBA courses
• Online MBA
• Distance learning MBA

Eligibility criteria to pursue an MBA

The candidate must have a bachelor’s degree with at least 50% marks or equivalent CGPA (45% in case of a SC/ST and other minorities) from a university recognized by the Government of India under The UGC act of 1956. Candidates appearing for the final year exams and those awaiting results could also apply. Along with these factors if you have a work experience of a year or two it would be like a topping on the cake.

List of Entrance Exams for MBA courses in India

How to choose a specialization in MBA??

A typical MBA programme consists of two years, the first year being generic in nature and the second year would be of specialization. After the first year there are number of internships, where the student gets a holistic picture of an organization and subjects. Later in the second year they have to choose a specialization. Five main specializations that are offered by almost all institutes are Marketing, Finance, Human Relations, Information Technology and Operations Management.

This is a million dollar question to everybody out there that are pursuing their MBA’s and to those who want to pursue their MBA and to people who have pursued their MBA’s too.  As laymen the only answer to this would be as simple as this, if you are good in talking and convincing people then marketing is your cup of tea, if you good at numbers then you can opt for finance, if you are good with numbers and you come from an operations background then operations is your, for people who can tackle issues with people, who are glossy and touchy, human relations is something that you should look for. And then finally for people who are from IT background, MBA in IT is something that you have to look for.

This is the most common way anybody speaks on the matter of specialization; add to this some major,  minor stuff and mix you know what exactly it is, good in talking, a major interest, good in IT skills a minor interest you are a dual package of marketing and It. Wow a combo!

Now on the experts opinion on this would be specialization should mainly depend on interests and passion and external conditions like slow down, market demands should not impact your decision. All along the first year students only learn basic subjects in management and by the end of first year they are quite clear on the specializations they intend to take.  Once the student has decided on the specialization in the second year they get an in depth exposure on the subject along with loads of projects and case studies.

Like I said above if you are good with people, market analysis and studying consumer behavior marketing is for you, good in numbers finance is for you and good with dealing with people Human relations is for you, if you are good with all then pick a specialization that’s dearer to you and that you would never have remorse’s for.

Choosing a specialization should be mainly based on your passion, long term goals and objectives. Don’t let short term goals affect you with choosing your specialization. You not only choosing a specialization you choose a career a life ahead.

Career choices for an MBA graduate

MBA graduates find careers in varied areas. The list would be endless however I have tried to compile a few areas on what students can focus on.

• Finance and Accounting
• Entrepreneurship
• General Management
• Human Relations
• Public Relations
• Advertising
• Branding
• Event Management
• NGO’s
• Manufacturing sector
• Operations
• Logistics
• IT sector
• Consulting
• Arts
• Education
• Public Sector

Some of the reasons why MBA can elevate your career:

• With an MBA degree you have a better chance to be hired since you posses’ good communication and leadership skills. You have a better understanding on the aspects of business.
• You can expect a better pay, since you have a degree. Research shows that employers are ready to pay 84% more to MBA graduates. Time and money spent on your MBA would be worth it. It for sure would be a return on investment.
• Going back to college has certainly given you scope to improve and develop new skills. This keeps your mind open to learn new things. You develop skills to manage business and organizations.
• You would see how your career would elevate, if you are a person who has become stagnate in your career now is the time to pursue MBA and see the difference.

Cost Incurred for an MBA course

It depends on the institute where you want to pursue your course. Generally in India it ranges from 5 to 15 lakhs. And in abroad it is anywhere between 15 to 40 lakhs for the whole programme. However there are scholarships from the government and there are banks that offer loans to students. It just takes a matter of years to repay it once you are done with the course.

Distance and online studies

MBA’s are offered through distance learning courses from universities like IGNOU, Annamalai University, Madras and Symbiosis Pune. With the increasing demand for MBA there are universities offering MBA degree online. Sikkim Manipal University is the leader in online MBA. These are mainly for people who are working and cannot take time off their work. It is hugely popular in and around the country.

Top B-Schools in India

I believe an MBA is a good idea for a person interested in a career in business in fact I can’t think of any reason not to pursue MBA.  The benefits and the prospects are just too good. Earning an MBA for sure is a good choice. Make wise choices and give your best.

What is life without challenges?? If you feel you are made to create a life for you, a career that means much more than anything. A job that is more meaningful then, what is that you are waiting for? MBA is a first step in your journey to reach your dream destination.

Best B Schools in India :