What is an MBA?
MBA (Masters in Business Administration) is known as a postgraduate degree that is domestically and globally recognized. MBA is the passport to the students who want to enter the corporate world, and is one of the most demanding courses that is available. The best part about MBA is that it brings together individuals from various backgrounds such as engineering, commerce, media, etc. into an intense and rigorous academic experience. Generally, the duration of a regular MBA is two years. MBA is divided into different categories which are:
- Regular or Classroom MBA:
Standard MBA: This is one of the most common structures of course of an MBA which is of two years. The individuals enrolled in this MBA, generally have 0-5 years of work experience. This is where students have to physically attend the classes. There are colleges that are residential, and expect the students to stay in the campus. On the other hand, there are campuses that are not residential, and in this case, students are just expected to attend the classes in the campus.
Executive MBA: This is not as common an MBA type as the standard one. This is primarily taken up by individuals who have a minimum of 5 years of experience. The duration of the MBA is one year and individuals enrolled in this MBA have proper industry experience.
- Distance MBA: This is also a full-fledged two years MBA, but the only difference is that
the MBA is done virtually and the individuals enrolled for the program do not have to attend the classes in the campus. Right from attending the lecture to giving the exams, everything is done virtually.
What is the right age to do an MBA?
One of the basic answers to the above question is – When one wants to pursue an MBA. In reality, MBA is such a program that does not have any fixed age. Whenever the individual feels he or she wants to study further, enhance their managerial skills or grow up the corporate ladder is when they should plan to pursue MBA. In MBA, there are multiple programs such as standard, marketing, finance, media, pharma etc. and it is not the timing that matters in MBA, rather it is the choosing
of the right program that matters.
However, the ideal age for doing MBA in India is considered after having a little work experience. Although earlier the trend was to pursue MBA right after graduation, but now India is also taking up the western culture of individuals to pursue MBA after having some industry exposure. The average age of an individual pursuing MBA in the country currently is somewhere between 22 to 24 years. Now more and more people are getting educated about the value of experience and are accordingly choosing their path. With experience, you get an idea as to where exactly your calling lies and what is your area of interest, because MBA is all about practical experience.
What is the Eligibility Criteria of MBA?
In India, for an individual to pursue MBA, the minimum eligibility criteria are to have a minimum of 3 years of Bachelors of Degree with a minimum of 50%. Although in India, there is no criteria to have a minimum work experience for certain years unlike abroad, but people with a little work experience are preferred. The most common exam is CAT (Common Admission Test) for MBA that majority of the Indian colleges accept such as all the IIMs, MDI, IMT, IMI, Maharashtrian colleges etc. There are various other famous entrance exams of various private colleges which are:
SNAP – (Symbiosis National Aptitude Online Test) is a test specially for Symbiosis college. Symbiosis is a leading private college that has multiple branches. The best one is its original and oldest branch – SIBM Pune, but various other branches have opened up in Pune, Bengaluru, Hyderabad etc.
NAMT – (NMIMS Management Aptitude Test) is a test that is taken by students to take admission in Narsee Monjee Institute of Management Studies that also has its own branches. The first and the oldest branch is in Mumbai, which also comes under top 10 colleges in India, and apart from that there are various other branches in Bengaluru, Hyderabad etc.
CMAT – (Common Management Admission Test) is a similar exam like that of CAT, however just that the difficulty level of the CMAT exam is lesser and there are only a few colleges which accept the CMAT score as compared to the CAT score.
TISSNET – Tata Institute of Social Sciences National Entrance Test is a specialised entrance test for Tata Institute of Social Sciences National college that has two branches, with the main one in Mumbai. The college is prominently known for HR and social sciences courses.
What is the MBA Course Structure?
When it comes to MBA, it has its core and it has various other specialisations:
Core Structure MBA:
- Analytical Skills: This involves Accounting, economic, organization behavioural, quantitative analysis.
- Functional Skills: Marketing management, financial management, human resource management.
- Ethics: Business ethics, Corporate social responsibility, Corporate Governance
- Electives: The primary electives include international business, business law, international finance, entrepreneurship, management information systems, market research, managing non-profits and real estate investing etc.
- Research: Research methodology and dissertation for a project.
Job Prospects after MBA?
MBA is a very renowned professional degree and is highly looked upon. In the industry there is a dire need of MBA’s as the course helps individuals to get the right skills that the industries require. Post MBA the future of individuals is very bright, as industries ranging from bank, consulting, marketing, sales, media, finance come to recruit. The package students receive is also excellent and are placed at high positions.