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Master of Business Administration
Masters of Business Administration (MBA) is a postgraduate program that, regardless of the specialization, will provide you with conceptual, theoretical and practical training in various aspects of business like economics, operations marketing, basic accounting, corporate finance etc. However, if the student has a bent towards one specific area of management, a specialized MBA can be pursued in that specific facet. Most MBA programs in India are accredited by AICTE or UGC however many MBA programs also have prestigious international accreditation.
An MBA program is basically of two types in terms of the duration of the program: Two-year Full-Time Program and One-Year Executive Program. The two-year MBA is the most common and most sought-after MBA program of most of the Indian B-schools (some exceptions being ISB Hyderabad and Great Lakes, Chennai which is renowned for their one-year programs).
While some B-schools offer a Post Graduate Diploma (PGDM) some offer a Masters Degree (MBA). MBA is offered by colleges that are affiliated to a university. All the colleges not affiliated with any university offer a PGDM which is a diploma. However, it doesn’t make any difference whether it’s a diploma or an MBA degree as the recruiters go by the reputation of the B-school and the caliber of the student.
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Why MBA?
The most pertinent question that should actually be the first step towards the MBA exam preparation is – “Why MBA?” This, at the same time, is also the most ignored question throughout the prep. Usually, there is hardly any clarity in an aspirant’s mind about what is he expecting from his MBA degree. To be able to think clearly about this, it is required to look beyond the general perceptions about MBA and to understand what an MBA degree would give you.
MBA General Perceptions – Ground Realities
Perception: “Great B-school ensures a great job.”
Reality: Not completely correct. In fact, the competition gets fiercer at a great B-school. But certainly, a great B-school ensures that a student gets a lot of great opportunities. It eventually boils down to the caliber of the student as to how ready and prepared he is to utilize the opportunities to his benefit.
Perception: “An MBA degree would catapult me to extremely high levels of corporate remuneration”
Reality: Again, not completely correct. The well-written placement reports of B-schools with great ‘figures’ written all over them cannot be taken for granted. There are some pitfalls that a student needs to be aware of. The pay packages that a company offers have to be taken with a pinch of salt. These pay packages usually have a variable factor ranging from 100 to 400 percent. The ‘Highest Salary’ figure shouldn’t even be a parameter to choose a B-school. Only a handful of students, at times only one, manage to bag that kind of an offer. Usually, the students are offered the ‘Average Salary’ or even lower than that.
Perception: “MBA would give me my dream job, just the way I’ve always imagined it”
Reality: Although, MBA offers the great variety of specializations and certainly the job spectrum widens after the MBA, but the dream job profile is not always at the student’s discretion. What kind of a profile a student is offered mostly depends on the type of companies that visit the B-school for placements and also on the specialization of the student. Also, in order to bag a dream job profile, the student is expected to have worked hard enough to back it up with enough proof that he is genuinely interested in that field.
Perception: “It takes great amount of intelligence and exceptional past academic scores to clear CAT and get into one of the top B-schools”
Reality: This couldn’t have been farther away from the truth. Certainly, a good academic record will make it easier for a candidate to make it to the cut-off for B-schools that lay a lot of emphasis on a profile (e.g. IIM-B, SP Jain) and will also help the candidate to portray a better image on the interviewer. But, only a few B-schools have more than 10-15% Weightage of past academics in the overall selection process. Statistics would tell that the students without impressive academic scores have also made it through to the top B-schools.
6 Best Reasons to pursue an MBA
Now that the major myths about MBA have been busted, let us put things into perspective to understand what can an MBA degree give the student and how the student should look towards MBA to make it more fruitful for him.
Better Job Opportunities: An average graduate usually gets frustrated due to extremely limited job opportunities and limited type of job profiles. An MBA widens the spectrum of job opportunities and job profiles for a student. An MBA from the top B-schools takes the student to higher levels of management, making them managers and senior managers, which surely does mean a higher position in the organization but also means higher responsibilities. An MBA degree from the topmost B-schools gives a person the credibility to hold leadership roles in an organization.
Greater Career Growth: A mere graduate might take many years to escalate in the corporate hierarchy and might still not move beyond a certain level. It does become important for a graduate to have a higher degree to reach the senior management levels. An MBA graduate from a top B-school starts his career from the mid-management or senior management level and has far better chances of escalating upwards to become a CEO, CFO, CIO, CTO etc.
Larger Perspective of Business World: A good MBA program imparts not only knowledge but also good business acumen to the student for him to become more receptive to changes in the world and better equipped with problem-solving tactics. A simple employee of an organization, serving in the lower half of the hierarchy, might not have the access to relevant information about a business. MBA makes business knowledge a familiar territory, hence making the student a valuable asset to the organization.
Greater Challenges: MBA widens the student’s limits of learning. It gets the student out of his comfort zone, deals with the latest issues, applies the newest management techniques and just constantly challenge him with different situations.
Consolidated Corporate Network: The first step towards a fruitful college life is having a good network of encouraging and supportive friends. The only difference at a top B-school is that the friends here would be more careers oriented and would be some of the top future managers. This puts the student in a good position in life as he gets to interact with colleagues, professors and teaching staff (usually former or current business people, with great on-field experience).
Better Pay Packages: Lastly, there is no denying the fact that an MBA degree from a good B-school brings with itself greater pay packages. To say the least, for a simple graduate engineer, the salary after an MBA becomes at least triple. Over the years the top tier B-schools have maintained the tradition of high salary packages being offered to its students even in the times of recession.
Also Read:
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MBA Admission Process in India
If you are seeking for MBA admission in any renowned B-School in India, you should complete your graduation degree in any stream with minimum 50% marks in total, and you should appear for any one or more entrance exam conducted by the universities, or associations of management institutes in India like CAT, XAT, CMAT, MAT, NMAT, IIFT, SNAP, MICAT, IBSAT, and many other entrance exams.
Among all management entrance exams, CAT (Common Admission Test) is very popular and toughest exam in India conducted by Indian Institute of Management (IIM). The CAT score is accepted in 20 IIMs and more than 100 Top B-Schools as the prerequisite for admissions to their business programmes. And XAT or Xavier Aptitude Test or the XLRI Admission Test is conducted by XLRI Jamshedpur for admissions to management programmes offered in XLRI Jamshedpur and other Xavier Association Management Institutes (XAMI) available in India. The XAT Exam is another tough nut to crack when it comes to MBA entrance exams after CAT.
Top MBA Colleges in India accepting CAT
| MBA College Name | Cutoff |
| Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai | 95+ |
| Management Development Institute (MDI), Gurgaon | 95+ |
| SP Jain Institute of Management & Research (SPJIMR), Mumbai | 85+ |
| National Institute of Industrial Engineering (NITIE), Mumbai | 95+ |
| Mudra Institute of Communication, Ahmedabad | 90+ |
| Institute of Management Technology (IMT), Ghaziabad | 90+ |
| International Management Institute (IMI), New Delhi | 90+ |
| Sydenham Institute of Management Studies (SIMSREE), Mumbai | 90+ |
| Xavier Institute of Management (XIM) Bhubaneswar | 90+ |
| Bharathidasan Institute of Management (BIM), Trichy | 90+ |
| FORE School of Management, New Delhi | 85+ |
| Goa Institute of Management (GIM), Goa | 85+ |
| Great Lakes Institute of Management, Chennai | 90+ |
| Institute of Rural Management (IRMA), Anand | 90+ |
| K. J. Somaiya Institute of Management Studies and Research (SIMSR), Mumbai | 90+ |
| Lal Bahadur Shastri Institute of Management (LBSIM), Delhi | 80+ |
| T. A. Pai Management Institute (TAPMI), Manipal | 80+ |
| Institute for Financial Management and Research (IFMR), Chennai | 80+ |
| Loyola Institute of Business Administration (LIBA), Chennai | 90+ |
| University Business School (UBS), Chandigarh (Management Quota MBA with Low Percentile in CAT-XAT) | 90 |
| Birla Institute of Management Technology (BIMTECH), Noida (Management Quota MBA with Low Percentile in CAT-XAT) | 75+ |
| Nirma University Institute of Management (NIRMA), Ahmedabad (Management Quota MBA with Low Percentile in CAT-XAT) | 80+ |
| Prin. L. N. Welingkar Institute of Management (WE School), Mumbai (Management Quota MBA with Low Percentile in CAT-XAT) | 85+ |
| SIES College of Management Studies (SIESCOMS), Mumbai (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| ICFAI Business School (IBS), Hyderabad (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| NL Dalmia Institute of Management Studies, Mumbai (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Xavier Institute of Management and Entrepreneurship (XIME), Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 80+ |
| Christ University Institute of Management, Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Alliance School of Business, Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Balaji Institute of Modern Management (BIMM), Pune (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| IFIM Business School, Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Institute of Management Technology (IMT), Hyderabad (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Institute of Technology & Management (ITM), Navi Mumbai (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| Prin. L. N. Welingkar Institute of Management (WE School), Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 80+ |
| Institute of Management Development and Research (IMDR), Pune (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| M. S. Ramaiah Institute of Management, Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 70+ |
| MIT School of Management (MITSOM), Pune (Management Quota MBA with Low Percentile in CAT-XAT) | 65+ |
| Xavier Institute of Social Service (XISS), Ranchi (Management Quota MBA with Low Percentile in CAT-XAT) | 65+ |
| Acharya Institute of Management Studies, Bengaluru (Management Quota MBA with Low Percentile in CAT-XAT) | 65+ |
| Indira Institute of Management, Pune (Management Quota MBA with Low Percentile in CAT-XAT) | 65+ |
