What is an MBA? A Comprehensive Guide
Have you ever felt stuck in your job while awaiting a promotion or switching your careers? If you are a working professional or a fresh graduate facing the same dilemma and planning your next career move, you need the MBA degree experience. This prestigious degree has become every student’s go-to when they are unsure how to move ahead in their career or when they want to elevate it to a higher level.
According to Statista, the employability of MBA graduates in India is expected to rise to 70% after 2025. But the question remains unanswered: what is an MBA degree, its eligibility, career opportunities and others. In this blog, let’s clear the air. This guide will break down the MBA course details, eligibility, fees and career opportunities.
What is an MBA Degree?
MBA stands for Master’s in Business Administration. It is a two-year postgraduate programme that caters to the fundamentals of business management, entrepreneurship and leadership. Additionally, it also offers specialised education in various domains such as finance, operations, marketing and many other fields. For someone already working in the industry, it’s a great opportunity to apply your classroom theory to real-world practices you face daily.
But how fruitful is it to do an MBA? Can anyone do this degree? What is the future scope after the course? Today, we will answer all these questions and more.
Related: Why is Distance MBA Crucial for Working Professionals?
Quick MBA Degree Highlights
Before going in the depth, here is an overview of the MBA degree in India:
| Course Name | MBA |
| Course Type | Master’s Programme |
| Duration | 2 Years |
| Mode of Learning | Regular |
| Average Salary Offered | 10-12 Lakh Per Annum |
| Employment Roles | Finance Manager, Marketing Manager, Sales Manager, Operations Manager, International Trade Manager, Retail Manager, Store Manager, Product Manager, etc. |
Why Go for an MBA Degree?
First, let’s address the big question: Is an MBA still valuable? Long story short, yes, an MBA is the most beneficial degree with data-backed proof. The employability of MBA graduates has improved significantly in recent years, which indicates positive demand for the degree. But how much? Let’s figure it out!
If we look at the CEOs of some of the major companies of the world, many have completed an MBA degree at some point in their life. For instance, Tim Cook (Apple) earned an MBA from Duke’s Fuqua School of Business; Indra Nooyi (former PepsiCo CEO) holds an MBA from IIM Calcutta; Satya Nadella (Microsoft CEO) earned an MBA from the University of Chicago Booth School of Business. These are examples that show how many leaders complement technical or business experience with postgraduate management education.
But does it ensure that an MBA degree will make you the next CEO for sure? Definitely not. There are entrepreneurs who don’t possess an MBA degree and are very successful in their careers. But even though an MBA degree is not a prerequisite to becoming a successful entrepreneur or CEO of a company, it can certainly expedite the process. It will help you learn how to work with teams, how to lead, and how to build a startup.
The degree is too diverse to question its worth. And the job opportunities seem endless. It’s like “impossible is nothing” when it comes to opportunities after an MBA degree.
Related: 11 High Paying MBA Job Opportunities
MBA Eligibility Criteria and Entrance Exams
Being one of the most prestigious degrees, an MBA sees fierce competition for admission. So, if you are planning for an MBA degree, be it online or regular, make sure to cross-check the eligibility criteria. However, the eligibility will vary in different colleges. Here are the general admission requirements for an MBA college in India:
| Academic Qualifications | You should have completed a bachelor’s degree in any stream from a recognised university. |
| Minimum Marks Required | In most universities, a minimum marks of 45% to 50% are required for admission. |
| Entrance Exam | Universities generally accept national/standard tests like CAT, XAT, CMAT, GMAT, MAT, NMAT, SNAP (acceptance depends on the institute). Additionally, some universities conduct their own entrance exams. Shortlisting often includes personal interviews and/or group discussions. |
| Work Experience | Generally, a regular full-time MBA does not require prior work experience; however, executive/mid-career programmes and some specialised courses do require experience. |
Note: The above criteria are general, they vary by university and programme.
Popular MBA Specialisations to Choose
We have come a long way in management education. The course that started with limited specialisations today has dozens of options. Popular specialisations include:
| Marketing Management | Finance Management |
| International Business | Supply Chain Management |
| Operations Management | Family Business Management |
| Agriculture Business Management | Business Analytics |
| Data Science |
How to Apply for the MBA Course?
MBA is one of the most sought-after postgraduate programmes. The admission process is completely online and done through the official website of your chosen university. Here is the general admission process for the MBA course:
- Register yourself on the official website of the university and note down your application ID.
- Qualify for the entrance exam if required by your chosen university.
- Start filling the application form with basic details like personal information and your qualifications.
- Pay the application fee and submit the form.
- Upon verification of your documents and entrance exam score, the university will release the shortlisted candidates’ list.
- If confirmed, pay the tuition fee to block your seat.
MBA Course Duration
The course duration of a regular full-time MBA is two years. Some institutions offer one-year MBAs (typically for candidates with significant prior work experience or executive formats), lateral-entry options exist in certain circumstances, and part-time / distance / executive MBAs follow different calendars.
Curriculum you Study in the MBA Course
The two-year MBA course consists of four semesters. It follows a dynamic approach that focuses on overall growth and soft skills development. If you have chosen any specialisation, the first year of the course will cover basics, while the second year will focus entirely on the niche subjects and project work. The typical MBA course syllabus is:
| Semester 1 | Semester 2 |
| Management Theory and Practice | Marketing Management |
| Organisational Behaviour | Financial Accounting and Analysis |
| Business Economics | Essentials of HRM |
| Corporate Social Responsibility | Strategic Management |
| Information Systems for Managers | Business Statistics |
Best MBA Colleges in India
India is home to a number of reputed business schools offering world-class MBA programmes in different modes. We have compiled the list of top MBA colleges in India for you to explore:
| Institution Name | Fees |
| Chandigarh University | INR 6,78,000 (may vary as per specialisation) |
| Amity University | INR 8,28,000 (may vary as per specialisation) |
| Chitkara University | INR 8,00,000 (may vary as per specialisation) |
| Manipal Academy of Higher Education | INR 18,40,000 |
| Symbiosis International University | INR 32,53,800 |
| Jain University | INR 12,05,00 (may vary as per specialisation) |
Summing Up
Pursuing an MBA degree as a fresh graduate or a working professional is a huge investment in your career. But, remember, an MBA is not a magic wand, it is just a powerful catalyst. It is a complete learning experience, preparing you with a strong understanding of the business, management and advanced practices in the market. If your goal is to catch that much-awaited promotion in your company or transition to a new career path or hone your skills as a leader, an MBA is the best option.
FAQs
Q1. What is MBA salary?
An MBA graduate with less than 2 years of experience can earn up to INR 8 to 14 LPA, depending on their job profile and industry. As you gain more experience, the salary bar will increase.
Q2. Can I do an MBA after 12th?
To apply for the MBA programme, you must first have a bachelor’s degree.
Q3. Is an MBA very difficult?
MBA is generally considered challenging due to its rigorous and disciplined learning pace with high-level subjects.
