What is MBA: Top MBA Colleges in India

What is MBA?

MBA stands for Master of Business Administration. It is one of the most popular and valuable post-graduate programs in India and abroad. This two-year based program provides a job opportunity in the corporate world. The degree originated in the early 20^th century in the US. After industrialization in the country, the companies started the scientific management technique, which increased the demand for highly skilled professionals.

Some of the important and interesting facts about the MBA program are as follows:

• The main reason behind the worldwide popularity of the MBA is that students from any background, i.e., humanities, commerce, and science, can pursue it.
• The period of the MBA is two years. This period is divided into four or six semesters. However, some institutes also offer one year PGDM program, which is a diploma.
• There are different modes like regular, online, and distance education or correspondence, in which one can pursue MBA. Interested candidates can also pursue an executive MBA as per their professional experience.
• There are some courses other than MBA which are almost similar to it. One of the most popular examples of these courses is a Post-Graduate Diploma (PGD) or Post - Graduate Program (PGP) in Management, which is offered by many management institutes.
• During a full-time MBA, one can enjoy the benefits of theory classes, practical projects, and internships.
• A fresh graduate, as well as a candidate who has a few years of working experience, can pursue a full-time course of MBA.  Some top colleges like IIMs prefer the candidates who have a few years of work experience while in some institutes fresh graduates are preferred.
• On the other hand, the candidates who have a working experience of more than 5-10 years can go for an Executive MBA. This program is helpful for increasing the managerial and leadership skills, which are beneficial for the candidates to stay up to date and relevant in the job market. The academic structure of the course is designed in this manner that it promotes these skills.
• The candidates who are willing to study while working can pursue an Online MBA, Part-Time MBA, and Distance MBA.

MBA Eligibility

Eligibility criteria for a full-time MBA are as follows:

• The candidate must have at least graduated in any discipline from a UGC recognized university or equivalent recognition from MHRD. This is a basic criterion for a full-time MBA.
• In most of the top institutes, some more criteria are followed. These institutes demand a minimum aggregate percentage of 50 in graduation, and for the reserved category, this aggregate percentage is 45.
• Those candidates can also apply for the MBA who are appearing in the last year of graduation. But they have to provide proof of completion of graduation within a certain period as specified by the institute.

MBA Admission

Admission in most of the top MBA colleges typically takes place through admission or entrance test. The information about these tests and their conducted body is given under:

• Some of the National Level Tests are CAT, ATMA, MAT, and CMAT. On behalf of the other participating college, these tests are conducted by a top national B-school or an apex testing body.
• Some other MBA entrance tests like NMAT, XAT, IIFT, SNAP, and IBSAT are conducted by a B school and are accepted as a qualifying criterion by these schools.
• Tests like MAT, HPU, and KIITEE are conducted by a university as an entrance test for the MBA program. The other colleges that are affiliated with these universities also accept these tests.

The candidate appears for the second level round, the screening in the college after qualifying for the admission test. The student must have to pass the round. In this round, the college conducts a group discussion or a personal interview.

MBA Specialization

There are many fields in which a student can pursue an MBA to get specialization. These fields are:

• Finance Management,
• Healthcare Management,
• Hospitality Management,
• Marketing Management,
• Sales Management,
• Sports Management,
• Interior Design,
• Human Resource Management,
• Media Management,
• Rural Management,
• Operations Management,
• Import & Export Management,
• International Business Management,
• Business Analytics,
• Business Economics,
• Information Technology & Systems
• Logistic Management,
• NGO Management,
• Textile Management,
• Event Management, etc.

MBA SKILLSET

A manager must have the qualities of good communication skills and leadership skills. This is because the manager has to lead a team of highly educated professionals who belong to different backgrounds, so it's really hard to deal with them. Some of the basic skills that are required in the MBA are as follows:

• Good communication skills,
• Analytical thinking,
• Problem-solving skills,
• An eye for detail,
• Research-oriented,
• Business acumen,
• Strong mathematical skills,
• Goal-oriented,
• Leadership qualities,
• Management skills,
• Ability to work under pressure, etc.

MBA SUBJECTS

There is a wide range of subjects that are offered in the MBA program. MBA is a two-year program that starts with core subjects like marketing, organizational behavior, principles of Management, etc. The subjects in MBA colleges are also classified into core and electives so that the students can choose between the elective subjects. Some of the subjects that are offered by most MBA colleges are as under:

• Business laws
• Marketing
• Business planning
• Entrepreneurship
• Taxation
• Economics
• Retail Management
• Principles of Management
• HR management
• Communication skills
• Computer application
• Project work
• Finance management
• Business environment
• Organizational behavior
• Business communication

MBA Career Opportunities

There are many doors that open after completing MBA. Some common jobs that an MBA can do are:

• Investment Banker
• Management Consultant
• Business Analyst or Strategist
• Portfolio Manager
• Product Analyst, Associate, or Manager
• Program Analyst, Associate, or Manager
• Entrepreneur/Founder
• Business Development Analyst, Associate, or Manager
• Project Analyst or Strategist
• Operations Analyst, Associate, or Manager
• Marketing Analyst, Associate, or Manager
• Market Research Analyst
• Financial Analyst, Associate, or Manager
• Managing Director (of a department)

TOP MBA Colleges in India

There is a myth about the top institutes of MBA. Some believe that only IIMs are among the top MBA colleges, but there are some other colleges also which get the place in the list of top 10 MBA colleges in India. These colleges are:

• IIM Ahmedabad, Ahmedabad
• IIM Bangalore, Bangalore
• IIM Calcutta, Kolkata
• XLRI Xavier School of Management, Jamshedpur
• Indian School of Business (ISB), Hyderabad
• S P Jain Institute of Management and Research (SPJIMR) Mumbai, Mumbai
• IIM Indore, Indore
• IIM Lucknow, Lucknow
• Faculty of Management Studies (FMS) Delhi, New Delhi
• Indian Institute of Foreign Trade (IIFT) Delhi, New Delhi

MAJOR RECRUITERS

In the current job market, the MBA provides a huge scope with a higher salary. In every industry, the demand for MBA graduates is very high. The facility of the campus placement is provided by many MBA institutes to their students for the smooth beginning of their career.  Some of the major recruiters for MBA aspirants in India are:

• Amazon,
• Flipkart,
• Apple,
• Microsoft,
• Google,
• Bain & Company,
• Citigroup,
• ICICI Bank,
• HDFC Bank,
• Aditya Birla Group,
• Nestle,
• Mahindra,
• Tesla,
• Deutsche Bank,
• LinkedIn,
• Unilever,
• Nike,
• PepsiCo,
• Ernst & Young,
• Deloitte, etc.

MBA Frequently Asked Questions

Q. How does PGDM differs from an MBA?

Ans. After completing PGDM, a person gets a diploma, while after completing MBA, a person gets a degree.

Q. Is there a correspondence course for MBA available in India?

Ans. Yes, many universities offer MBA programs in correspondence or distance learning mode. Such universities are IGNOU, Annamalai University, Osmania University, etc.

Q. Which MBA specialization is best after completing a Bachelor of Arts?

Ans. HR, Sales & Marketing, Entrepreneurship, Tourism & Hospitality, and General MBA are some most suitable MBA specialization for a BA degree holder.