Master of Business Administration [MBA] Course Details - Admissions, Eligibility, Duration and Course Fees

MBA Course:

The full form of MBA is Master of Business Administration. It is a postgraduate degree in business administration management. The MBA is a terminal degree and a professional degree. The MBA course duration is 2 years which is divided into 4 semesters. 

Subjects like Management Theory and Practice, Leadership and Entrepreneurship, Financial Markets and Instruments and Business & Corporations Law are part of the MBA curriculum. Accreditation bodies, specifically for MBA programs, ensure consistency and quality of education. The course helps build the following in its students:

• Imparts a strong theoretical foundation in business concepts.
• Provides practical opportunities through internships, group assignments, and individual projects to test what students learn in the class.
• Builds hard-skills in the areas of management and leadership.
• Polishes a range of soft-skills like communication, motivation, and negotiation.

Opens up global opportunities for career growth. MBA career opportunities are in various employment areas like

• Banks
• Multinational Companies
• Business Consultancies
• Industrial Houses and many more.

Allows MBA students to start an independent business after graduating. Colleges like Manav Rachna International Institute of Research and Studies, Faridabad, Xavier's Labour Relation Institute, Jamshedpur, Faculty of Management Studies, Delhi are some of the top colleges for MBA in India.

The MBA syllabus covers various fundamental practices, the dos, and don'ts of the industry while inculcating in the students the ethics and practices of the Indian market. The MBA job & scope is vast as the dire need for efficient management of a private firm or a government sector is ever-increasing. The general expectation of a graduate of an MBA course is the appointment of the individual in a managerial responsibility of the department he/she is hired for.

MBA Quick Links:

• What is MBA Course?
• Why choose MBA?
• MBA Courses List
• MBA Entrance Exams
• MBA Course Preparation Tips
• MBA Subjects
• MBA Course Fees
• MBA Course Syllabus
• MBA Course Eligibility
• MBA Course Admission
• MBA Specializations
• MBA Job Opportunities
• MBA Course Salary
• List of MBA Colleges
• Distance MBA
• Difference between PGDM, PGPM, and MBA

What is MBA Course?

Master of Business Administration [MBA] is a postgraduate academic degree which is awarded for a course or program in Business Administration. It is one of the most sought-after courses which can be attained by students of any stream. An MBA degree in India is examination-oriented and concentrates on theoretical aspects of management.

There are 2 types of MBA:

1. General MBA - which is often shorter in duration
2. Specialized MBA - which may take longer but is more marketable.

The program is available in various subjects whose material focuses on:

1. Commerce
2. Management
3. Economics 

Programs usually include a thesis component or can even be exclusively research-based. The course strengthens the theoretical, analytical and applied knowledge base of Business Administration. The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management.

The core courses in an MBA program cover various areas of business such as

1. Accounting
2. Finance
3. Marketing
4. Human resources
5. Operations in a manner most relevant to management analysis and strategy.

The MBA Syllabus also includes elective courses that enable the student to pick a subject of their choice. Business schools in many countries offer programs tailored to a full-time, part-time, executive (abridged coursework typically occurring on nights and/or weekends) and distance learning. 

The different types of Master of Business Administration [MBA] are:

Two-year (Full-Time) MBA:

• This MBA course normally takes place over two academic years (i.e. approximately 18 months of term time).

• For example, in the Northern Hemisphere, they often begin in late August/September of year one and continue until May of year two, with a three- to four-month summer break in between years one and two.

• Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students.

• A typical full-time, accelerated, part-time or modular MBA requires 60 credits (600 class hours) of graduate work.

Accelerated MBA

• This program is a variation of the two-year programs.

• They involve a higher course load with more intense class and examination schedules and are usually condensed into one year.

• They usually have less 'downtime' during the program and between semesters.

• For example, there is no three to four-month summer break, and between semesters there might be seven to ten days off rather than three to five weeks vacation.

• Accelerated programs typically have a lower cost than full-time two-year programs.

Part-Time MBA

• These programs normally hold classes on weekday evenings, after normal working hours, or on weekends.

• Part-time programs normally last three years or more.

• The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.

Evening (Second Shift) MBA

• This is a full-time program that normally holds classes on weekday evenings, after normal working hours, or on weekends for a duration of two years.

• The students in these programs typically consist of working professionals, who cannot leave their work to pursue a full-time regular shift MBA.

• Most second shift programs are offered at universities in India.

Modular MBA

• This program is similar to part-time programs, although typically employing a lock-step curriculum with classes packaged together in blocks lasting from one to three weeks.

Executive MBA [EMBA]

• This program was developed to meet the educational needs of managers and executives, allowing students to earn an MBA (or another business-related graduate degree) in two years or less while working full-time.

• Participants come from every type and size of organization – profit, nonprofit, government, representing a variety of industries.

• EMBA students typically have a higher level of work experience, often 10 years or more, compared to other MBA students.

• In response to the increasing number of EMBA programs offered, The Executive MBA Council was formed in 1981 to advance executive education.

Full-time executive MBA

• This program is a new category of full-time 1 year MBA programs aimed at professionals with approx 5 years or more of work experience.

• They are primarily offered in countries like India where the 2-year MBA program is targeted at fresh graduates with no experience or minimal experience.

• These full-time executive MBA programs are similar to 1 year MBA programs offered by schools like Insead and IMD.

Distance learning

These MBA programs hold classes off-campus and can be offered in a number of different formats:

1. Correspondence courses by postal mail or email
2. Non-interactive broadcast video
3. Pre-recorded video
4. Live teleconference or video conference
5. Offline or online computer courses

Blended learning

• This program combines distance learning with face-to-face instruction.

• These programs typically target working professionals who are unable to attend traditional part-time programs.

MBA dual degree

• This program combines an MBA with others (such as an MS, MA, or a JD, etc.) to let students cut costs (dual programs usually cost less than pursuing 2 degrees separately), save time on education and to tailor the business education courses to their needs.

• This is generally achieved by allowing core courses of one program count as electives in the other.

• Some business schools offer programs in which students can earn both a BBA and an MBA in five years.

Mini-MBA

• This is a term used by many non-profit and for-profit institutions to describe a training regimen focused on the fundamentals of business.

• In the past, Mini-MBA programs have typically been offered as non-credit bearing courses that require less than 100 hours of total learning.

• However, due to the criticisms of these certificates, many schools have now shifted their programs to offer courses for full credit so that they may be applied towards a complete traditional MBA degree.

• This is to allow students to verify business-related coursework for employment purposes and still allow the option to complete a full-time MBA degree program at a later period if they elect to do so.

Some of the leading bodies in India that certify MBA institutions and their programs are:

1. All India Council for Technical Education [AICTE]
2. University Grants Commission [UGC]

A distance MBA program needs to be accredited by the Distance Education Council [DEC] in India.

Why Choose MBA? 

Master of Business Administration [MBA] is one of the most sought out courses in the world. Not only do MBA graduates have greater job opportunities but also they get paid more. Account Manager, Management Consultant, IT Services Marketing Head, Relationship Manager are some of the most lucrative MBA job types for after the completion of the course.

Internship in some of the Management and Financially oriented companies are some of the fruitful experiences for an MBA Aspirant. The course enables the students to network effectively. During the course of an MBA, they get to interact with a lot of professionals which will be of great help in their future career.

They get trained in soft and hard skills that help to mould their careers and enable them to get themselves placed in good companies. MBA also nurtures entrepreneurship skills in students motivates them to make this world a better place to live in. Subjects like Human Resource Management, Marketing Management, and Business Economics are some of the subjects which help an individual to know more about Business Oriented Concepts and its vertices.

For learning the business and becoming a successful manager, the theory itself is not sufficient. Different business situations need to be simulated and presented to the students so that they work around the problem and find the best possible practical solution for a given set of circumstances.

Case Study & Group Work are essential techniques involved in the Curriculum.

MBA Courses List:

In India, the following courses under the broad spectrum of Master of Business Administration [MBA] are followed in their curriculum:

• Decision Sciences
• Economics and Social Sciences
• Entrepreneurship
• Finance and Accounting
• Information Systems
• Marketing
• Organizational Behaviour and Human Resources Management
• Production and Operations Management
• Public Policy
• Strategy
• Hospitality and Tourism Management
• Logistics and Supply Chain Management
• Food and Agricultural Business Management
• General Management
• Law
• Pharmaceutical Management
• Social Entrepreneurship
• Entrepreneurship and Family Business
• Airline and Airport Management
• Real Estate Construction and Management
• Hospital and Healthcare Management
• Telecom
• Digital and Social Media Marketing
• Event Management
• Corporate Communication and Public Relations

MBA Entrance Exams:

The aspirants of Master of Business Administration [MBA] have to prepare for a series of gruelling examinations to prove their credentials and gain admission into the top MBA colleges in the nation by dint of merit:

1. Common Admission Test [CAT]: This is the top-level exam conducted by the Indian Institute of Management(s) (IIMs) and is preferred as the qualifying exam by most top management institutes and B-schools in India.

2. 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. 

3. Graduate Management Aptitude Test [GMAT] Conducted by the Graduate Management Admission Council (GMAC), this exam is the qualifying examination for admission into colleges governed by GMAC.

4. 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.

5. 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.

6. AIMS Test for Management Admissions [ATMA]: Conducted by the Association of Indian Management Schools (AIMS), the exam is accredited by the MHRD and is convened by several colleges for admission into their management courses.

7. NMIMS Management Aptitude Test [NMAT]: Conducted by the Narsee Monjee Institute of Management Sciences (NMIMS), this exam is considered as the qualifying exam for the institutes and universities under the tutorship of Narsee Monjee group of institutes for their MBA course.

8. Symbiosis National Aptitude Test [SNAP]: Conducted by Symbiosis International (Deemed University), this exam is the qualifying exam for the management courses in Symbiosis University.

9. Indian Institute of Foreign Trade [IIFT]: Conducted by the IIFT, this exam is the benchmark for admission into the IIFT group of colleges for their management and business programs.

10. Institute of Rural Management Anand [IRMA]: Conducted by the IRMA, this examination is the hallmark for admission into the IRMA college and is taken as the qualifying exam for their management and business courses.

11. MICA Admission Test [MICAT]: Conducted by MICA Ahmedabad, this examination is the benchmark for admission into the MICA group of colleges in Ahmedabad into their management and business courses.

MBA Course Preparation Tips:

Here are a few common preparation tips candidates should follow to clear the entrance exams for Master of Business Administration [MBA]:

• Knowledge of the exam paper pattern: The paramount step in preparing well for the entrance exam is a deep-rooted understanding and comprehension of the paper pattern and the syllabus.

• Effective time management: Focus points should be kept in mind, with special emphasis on weaker subjects and the daily practice of numerical problems. A timetable should be drawn and the candidate should follow the timetable with dedication and diligence. 

• Enrolling in coaching institutes: A coaching class or a tutor especially for clearing the entrance exam is an added bonus as the teacher will help a candidate to focus on weaker zones and will aid in practice and comprehension of topics.

• Practice makes perfect: Candidates should practice and revise before the exam so that it reduces the unnecessary pressure one day before the examination.

MBA Subjects:

The core and elective subjects followed in the curriculum of the Master of Business Administration [MBA] course are listed below. While the subject list may vary from college to college, the crux of the subject composition remains the same for most colleges in India.

The elective subject list listed in the MBA curriculum is as follows:

MBA Course Fees:

The average MBA course fees in India varies in the range of INR 3 lakhs-10 lakhs per annum. This amount may vary depending on the prestige and position of the institute concerned, the infrastructure, faculty as well as government quotas.

MBA Course Syllabus:

The course syllabus followed by the Master of Business Administration [MBA] curriculum throughout the 2-year course is as follows. While this syllabus may vary slightly as per university, the core of the syllabus is maintained.

MBA Course Eligibility:

Candidates who have passed an Honors or a Bachelor's degree from any university recognized by UGC with 50% or equivalent are eligible to apply for the Master of Business Administration [MBA]. Final year students awaiting their results are also eligible. The basic eligibility of passing 10+2 secondary and higher secondary schooling with the minimum percentage required is mandatory.

It's mandatory for students to appear in the entrance exam like

1. GMAT
2. XAT
3. ATMA
4. CAT
5. MAT, etc

MBA Course Admission:

The admission procedure starts in the second week of March. Candidates have to give entrance exams like GMAT, CAT, XAT, etc and the cumulative score is taken for the admission process.

There will be three rounds further for the selection into a university which are:

1. Written Test
2. Group Discussion
3. Interview

The aspirant should download the application/admission forms for the university opted for admission, also have the required documents ready. The process may have some additional round's and dates for the process, depending on the institute.

MBA Specializations:

The various specialization options available to a student pursuing a Master of Business Administration [MBA] degree are:

The various course-wise specializations of Master of Business Administration [MBA] are:

MBA Job Opportunities:

The various types of job opportunities available for a graduate in Master of Business Administration [MBA] are:

• Account Manager
• Corporate Treasury
  
• Brand Manager
  
• Business Operations
  
• Card Payments Operations Head
  
• Credit Analysis
  
• Equity Research Analysts
  
• Relationship Management
  
• HR Generalist Business Partner
  
• Corporate Banking
  
• Management Consultant
  
• Trade Finance Services
  
• Marketing Manager
  
• Risk Analytics
  
• IT Services Marketing Head
  
• Wealth management
  
• Project Managers
  
• Branch Banking & Credit
  
• Recruitment Manager
  
• Commercial Credit
  
• Vice President - Investment Banking
• Equity Research
  
• Zonal Business Manager - Telecom
  
• Strategic Business
  
• Investment Banking

MBA Course Salary:

The average course salary offered to a graduate of Master of Business Administration [MBA] is INR 6.56 L per annum. This amount varies as per industry, seniority, experience, and diligence at the workplace. 

List of MBA Colleges:

The top colleges in India to pursue a course in Master of Business Administration [MBA] are as follows:

Source: India Today

Distance MBA:

The most prestigious distance Master of Business Administration [MBA] colleges in India are:

Difference between PGDM, PGPM, and MBA:

PGDM:

• Program Type: Usually 2 years full time. One year PGDM is not equivalent to MBA.

• Academic Focus: Basic foundation plus practical training keeping up with industry demands.

• Cost: Generally, more expensive than a university MBA. SP Jain PGDM costs INR 16 lakhs ($25k) for its full academic fee of two years.

• Eligibility: Much like the MBA degree, it too requires an undergraduate degree with a minimum score, group exercises, personal interviews, written ability tests, CAT score. The selection is contingent on a weighted combination of these plus factors like gender and work experience in a managerial role.

• Institutes: The Indian Institute of Management [IIMs], XLRI, SP Jain Institute of Management, and more.

PGPM:

• The PGPM is not an AICTE recognized diploma or course. It is essentially an award or certification for a duration of one year. In that sense, it doesn’t feed into your qualifications towards, say, a Ph.D. It is also quite flexible and can be designed to suit the needs of the current relevant industry needs.

• For instance, Great Lakes offers a PGPM program for a duration of one year, geared towards experiential learning, peer participation, and it is taught in collaboration with international faculty.

• Eligibility requirements mandate either of GMAT/CAT/XAT/CMAT scores, a good academic record from a recognized institution, essays, and a minimum work experience (specified by the school). The Great Lakes PGPM costs about INR 15 lakhs.

MBA:

• Program Type: 2-year Degree course.

• Academic Focus: The curriculum, in MBA programs in India, tends to be more technical and theoretical in nature.

• Cost: An MBA program, in India, is significantly cheap, especially if directly granted by a university. Affiliated programs are maybe somewhat more expensive but still far more reasonable than international MBA degrees. In any case, an MBA is still cheaper than PGDM. In the interest of clarity, an MBA from the Faculty of Management Studies (University of Delhi), will cost an academic fee of about INR 1,00,000 ($1,500), for the entire program.

• Eligibility:

  • Undergraduate from a recognized university, an institution of national importance, or a foreign university with blessings from the Association of Indian Universities [AIU]. Candidates should have secured a minimum score of 50%.

  • Some form of aptitude test, such as the Symbiosis National Aptitude Test [SNAP], the Common Entrance Test [CET] conducted by the Government of Maharashtra as part of their Centralized Admission Process, or even the scores of CAT, CMAT, GMAT, MAT, XAT, ATMA, etc.

    Candidates are well-advised to research the university-specific aptitude testing criteria.

  • Final selection is contingent on success in group exercises, interviews, writing ability test, and previous academic record.

• Institutes: Symbiosis Institute of Management (Pune), Faculty of Management Studies (University of Delhi), Mumbai University, Savitribhai Phule Pune University.

MBA Course FAQs: