The MBA is not just a professional degree, but also a pathway for many looking towards the next step in their career. The MBA has thus turned out to be the natural trend for students these days owing to the advantages and additions it offers to an individual’s career.
People often choose to pursue the MBA, as it offers an opportunity to improve their current career position and helps them earn more money! Furthermore it is chosen as it offers a better-consolidated business network and a holistic perspective of the business world, teaching the individual to take up leadership roles and responsibilities. Also the MBA being a job-oriented degree offers to enhance one’s knowledge, perspective and gives a life changing experience.
In India, the Management scenario and the MBA course in itself is very flexible and there are various types of MBA categorized in terms of pedagogy, duration, and commitment. In India, various institutions offer courses such as the Full Time Traditional MBA, Part time MBA courses, Executive MBA courses designed for working professionals, Online MBA courses, Distance education MBA courses, and the Fast track One-Year MBA courses.
As is evident, with a large number of courses does come the dilemma of choosing the right course. To choose the right MBA course, the student must be wise to consider his needs and choices, while also looking at the reputation of the college and the course. The choice of the right MBA course eventually comes down to being extremely stringent. The student must check the schools’ accreditation, and the popularity and competition in admission. The student must essentially understand the subjects he needs to focus on, as specialized MBA such as Healthcare of Hospitality Management offer very niche industries to work in. The student must make a choice of Full-time or Part-time based on the time he has available to spend on the course. While a full-time course is very intensive, and requires rigorous work ethics, the part-time course is perfect for working professionals who do not want to give up their careers for school. The student must also consider the school’s rankings and the return on investment before finalizing on the MBA course.
The first step towards the right MBA course in India is to prepare yourself and excel in the entrance exams for MBA, such as the CAT, MAT, XAT, IIFT, SNAP, etc. IIMs in India also accept the GMAT scores. The student must be academically sound and must fill in any gaps in the application for the admission, and present a holistic and positive picture to the admission committee. The admission into the MBA courses (especially the Full-time courses) usually proceeds with group discussions, Personal Interviews, etc. Every premier college looks to find the best-fit candidates to their institution, and the competition often gets ruthless! The top notch IIMs in India offering MBA courses have fees of about INR 10-15 Lakhs, while it varies a lot for the Distance education courses – which is usually cheaper – and the part time courses. As far as eligibility for the MBA course is concerned, colleges most often require that the students are graduates in any discipline with a minimum aggregate of about 55%. Executive MBA courses require additional work experience for eligibility.
The MBA is a 2-year course and requires that a student chooses a specialization in the final year, and it is often a difficult choice. In India the most popular specializations offered as follows:
- Finance: One of the oldest specializations, and offers you a job in finance departments of any organization.
- Marketing: A competitive stream with job offerings in advertising, market surveying, consumer behavior, etc.
- Human Resources: A perfect choice for a person who loves to deal with people. Requires a charismatic personality, diplomatic skill, and good communication skills. Offers a job in HR department of any organization.
- International Business: Offers skill in International Relations, international marketing, finance, etc. Offers specialized jobs in Multinational companies.
- Operations: Deals particularly with production Management, and supply chain management
- Information Technology: A popular choice among studnets wanting to make a career in product or services side of the technology businesses.
There are many other niche specializations like hospital management, hotel management, project management, hospital administration, and banking and finance.
It definitely makes sense to pursue the MBA as it is one of the courses with the best return on investment, providing you with a better career, with a high paying job, and much more.