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

About Master of Business Administration [MBA]:

• The full form of MBA is Master of Business Administration and it is a master's 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. The subjects like Management Theory and Practice, Leadership and Entrepreneurship, Financial Markets and Instruments and Business and Corporations Law are part of the MBA subjects.

• Accreditation bodies specifically for MBA programs ensure consistency and quality of education.

• 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.

What is Master of Business Administration [MBA]?

• Master of Business Administration is a Postgraduate Academic Master Degree which is awarded for a course or program in Business Administration.

• Master of Business Administration is one the most sought-after courses which can be attained by students of any stream.

• MBA degree in India is examination oriented and concentrates on theoretical aspects of management.

• There are 2 types of MBA:

  • General MBA - which is often shorter in duration

  • Specialized MBA - which may take longer but is more marketable.

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

  • Commerce

  • Management

  • 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

  • Accounting

  • Finance

  • Marketing

  • Human resources

  • Operations in a manner most relevant to management analysis and strategy.

• MBA Syllabus  also includes elective courses.

• Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights and/or weekends) and distance learning. 

Different kinds of Master of Business Administration [MBA]:

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 'down time' 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

• This 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 can not 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

• This MBA programs hold classes off-campus.

• These programs can be offered in a number of different formats:

  • Correspondence courses by postal mail or email

  • Non-interactive broadcast video

  • Pre-recorded video

  • Live teleconference or video conference

  • 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 bachelor's degree in business administration 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.

Accreditation in India for Master of Business Administration [MBA]:

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

  • All India Council for Technical Education (AICTE)

  • The University Grants Commission (UGC)

• A distance MBA program needs to be accredited by the Distance Education Council (DEC) in India. 

What is the difference between PGDM, PGPM, and MBA?

• The IIM and other autonomous business schools offer a post-graduate diploma in management (PGDM) or Post Graduate Programme in Management (PGPM) which is recognized in India as similar to an MBA degree.

• Government accreditation bodies such as AICTE established that autonomous business schools can offer only the PGDM or PGPM, whereas a post-graduate degree can be awarded by university-affiliated colleges, in the two-year full-time program.

• The curriculum of the PGDM or PGPM and MBA degrees are equivalent, though PGDM or PGPM is industry-oriented and mainly focuses on building soft skills.

• A PGDM or PGPM holder cannot pursue Ph.D. since it is not recognized.

• Non-government accredited Business Schools have mushroomed up owing to the popularity of Business Administration.

• 1-year fast-track programs have also proliferated in India, especially for candidates with work experience.

• Such programs are commonly known as Post Graduate Programme (PGP) in Business Management. 

Why Choose Master of Business Administration [MBA]?

• Master of Business Administration is one of the most sought out courses in the world.

• Not only does 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 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 experience for an MBA Aspirant. 

• The course enables the students to network effectively.

• During the course of 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 mold their career and get placed in good companies.

• MBA also nurtures entrepreneurship skills in students motivates them to make this world a better to live.

• 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.

Top Colleges for Master of Business Administration [MBA]:

Source: India Today

Eligibility Criteria for Master of Business Administration [MBA]:

• Candidates who have passed an honors or bachelor's degree from any university recognized by UGC with 50% mark or equivalent are eligible to apply for MBA.

• It's mandatory for students to appear in the entrance exam like GMAT, XAT, ATMA, CAT, MAT etc.

• The basic eligibility of passing 10+2 secondary and higher secondary schooling with the minimum amount of percentage is mandatory.

Admission Procedure for Master of Business Administration [MBA]:

• 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:

  • Written Test

  • Group Discussion

  • Interview

• The aspirant should download the application/admission forms for the university opted for admission.