MBA Courses in India 2020: Admissions, Structure, Eligibility, Fees & Careers
MBA or Master of Business Administration is a degree that takes one’s understanding of the business world from the mere basics to a highly-skilled, professional and noteworthy level. The students are introduced to the concepts of entrepreneurship, leadership and administration. In the span of 2 years, the program endows the candidates with the necessary know-how on tackle, handle and excel in his career. Whether it is a distance, part-time or full-time course, an MBA is an invaluable addition to one’s career progress.
MBA has a variety of specializations, each of which trains the students with an in-depth curriculum in the field of their choosing. The course traditionally deals with specializations like Human Resource Management, Finance, Marketing, etc. To break the traditional monotony, there are many innovative and lucrative specializations that have taken shelter under the banner of an MBA such as Supply Chain Management, Wine Marketing and Management, Football Industries, Music and Creative Industries, Aviation Management and many more.
- MBA Fees in India
- MBA Course Structure
- MBA Specializations
- MBA Admissions
- List of Best MBA Colleges in India
Majority of the MBA courses, the world over demand an entrance test to be written from interested candidates. The candidates must prove that their inherent skills are groomed enough to take on the Master’s course. Some of the entrance tests accepted in India are:
- Common Admission Test [CAT]: Conducted by the Indian Institute of Management(s) [IIMs), it is an important entrance test and is considered as the qualifying exam by most top management institutes and B-schools in India.
- Xavier Aptitude Test [XAT]: Final year students and students with Bachelor's degrees can apply for this exam, conducted by the Xavier School of Management.
- Graduate Management Aptitude Test [GMAT]: Conducted by the Graduate Management Admission Council [GMAC], the test is the qualifying examination for admission into colleges governed by GMAC.
- Common Management Admission Test [CMAT]: Conducted by the All India Council for Technical Education [AICTE], this exam is widely accepted as a qualifying exam by a large number of government-sponsored management and business institutes in India.
- Management Aptitude Test [MAT]: Conducted by the All India Management Association [AIMA], this exam is also considered as a hallmark for admission into government colleges and universities in courses such as MBA.
- Symbiosis National Aptitude Test [SNAP]: Conducted by Symbiosis International University, this test admits candidates to MBA schools all over India.
- National Management Aptitude Test [NMAT]: Conducted by the GMAC, the test provides admission for candidates into leading management schools in the country.
The various general topics that are covered in these entrance tests, that students must prepare for are mentioned below:
- Language Comprehension.
- Mathematical Skills.
- Current Affairs and General Knowledge.
- Logical Reasoning.
- Data Analysis and Sufficiency.
- Intelligence and Critical Reasoning.
- Indian and Global Environment.
- Quantitative Data Interpretation & Data Sufficiency Geometry.
- Analytical & Logical Reasoning.
MBA Fees in India:
The average fee scale for an MBA in India can range anywhere between 3 to 12 lakhs per annum, depending upon the college and course curriculum chosen.
MBA Course Structure:
Since MBA has a vast number of core specializations for students who are interested, the subjects and syllabus vary from course-to-course and from college-to-college. Few core/ main subjects of study under a general MBA degree are:
- Management Theory and Practice
- Strategic Management
- Accounting and Financial Management
- Marketing Management
The top four core divisions are taken along with the below semi-restricted electives:
- Business Economics
- Corporate Finance
- Human Resource Management
- Research Methods
- Leadership and Entrepreneurship
- Managing for Sustainability and others
An MBA course is known for its versatility and depending on the core subjects and the course specialization, candidates may take up various subject electives that suit their professional needs. Some of the elective subjects for a common MBA degree are:
- Financial Accounting
- Management Accounting for Costs and Controls
- Communication in Business
- Investment Analysis
- International Human Resource Management
- Advanced Studies in Industrial Relations
- Project Management
- Risk Management
- Managing for Sustainability
- Customer Behaviour
- Global Marketing and many more.
The entire course is systematically and methodically divided to enable students to grasp the necessary knowledge in a progressive approach. Each semester enables the students to be tested on their learnings and progress towards the next step with renewed faith and vigour. Candidates are given the choice to choose electives based on the future course of a profession or further studies they wish to pursue.
An MBA is a course that along with the set educational curriculum, imparts to students various other skill sets, most important among them are:
- Effective Communication
- Interpersonal Skills
- Team Management and Cooperation
- Problem Solving
- Logical Reasoning
- Good Consulting Skills
- Persuasion and Negotiation
- Effective Conversational and Etiquette Mannerisms
In India, apart from the general MBA students go in for specializations that give them an added bonus to their careers. Some of the common specializations in offered in India are:
- Decision Sciences
- Economics and Social Sciences
- Finance and Accounting
- Information Systems
- Organisational Behaviour and Human Resources Management
- Production and Operations Management
- Public Policy
- Hospitality and Tourism Management
- Logistics and Supply Chain Management
- Food and Agricultural Business Management
- General Management
- Pharmaceutical Management
- Social Entrepreneurship
- Entrepreneurship and Family Business
- Airline and Airport Management
- Real Estate Construction and Management
- Hospital and Healthcare Management
- Digital and Social Media Marketing
- Event Management
- Corporate Communication and Public Relations
List of Best MBA Colleges in India:
India is home to thousands of MBA colleges. Some of the top MBA colleges in India are mentioned below:
1) Indian Institute of Management (IIM), Ahmedabad
2) Indian Institute of Management (IIM), Bangalore
3) XLRI, Jamshedpur
4) S.P. Jain Institute of Management, Maharashtra
5) Indian Management Institute (IMI), New Delhi
6) Symbiosis Institute of Business Management (SIBM), Pune
7) Indian Institute of Management (IIM), Kolkata
8) Xavier Institute of Management, Bhubaneswar
9) TATA Institute of Social Sciences, Mumbai
10) Alliance Business School, Bangalore
Aspirants should have completed bachelor’s degree with 50% aggregate marks
They should have written CAT/ MAT/ XAT/ CMAT/ ATMA/ GMAT examination
The part-time MBA programs in India require the candidates to have 2-3 years of work experience
Placement And Career
MBA graduates are known to be effective leaders, as well as communicators and logical thinkers, and are thus presented with a variety of job avenues in the public as well as private sectors.
Some of the job arenas that are available for an MBA graduate are:
Branch Banking & Credit
Trade Finance Services
Equity Research Analysts
HR Generalist Business Partner
Job posts occupied by an MBA professional are:
Research Manager/ Senior Analyst
Account Managers/ Executives
Business Development Manager
Chief Financial Officers
Investment Banking Associates
Credit Managers & Specialists
Finance Officers & Treasurers
Insurance & Risk Managers
Investing Sales Traders & Associates and many more opportunities.
The top MBA colleges in India conduct group discussions, industrial visits and other activities for the students to expose them to the industry. Few colleges require the students to take up internships for 1-2 months during their final year of study. The students will have to work on their dissertation in the same year.
In the case of regular MBA, the students attend classes on weekdays. In case of an online MBA, the students will have to take the course via the internet, but would have to visit the campus for practical sessions. DIstance learning MBA allows the students to undertake the course via internet at the comfort of their home, and do not require any physical presence at the institution.
The main benefit of having an MBA degree is, a candidate can get into any company and be a part of the Management Team. The payscale for an MBA graduate is considerably higher, compared to the undergraduate programs of Management stream.
Yes, MBA programs can be undertaken by any graduate, if they have scored the minimum percentage marks required for the program.
Since MBA curriculum covers all the subjects related to management, entrepreneurship and many more, it can help one to be a better entrepreneur.