Many of you would’ve heard your peers say they are going to pursue MBA further, but not all of you will know what it actually means. For all those wondering what an MBA is, how long it takes to finish the course all the different types of MBA courses and how to get into an MBA college, here are a few pointers for you.
What is MBA?
MBA or the Master of Business Administration is an internationally accepted Masters degree. The main topics covered under MBA are accounts, statistics, business, finance and marketing management. It is a professional, terminal degree.
What do you learn in MBA?
Firstly, it is a business-oriented course, so you acquire a strong foundation in business concepts and basic marketing. You will also pick up leadership skills and keen management skills. You learn other vital skills like communication, which by the way is one of the most important components of an individual’s development. Basically, you provide the base and bridge for technical growth. Start-ups are initiated more so by MBA graduates and marketing of any product is of utmost importance for the success of developed products, which again is taught to you in MBA. MBA opens up global opportunities for career choices.
How long is the course?
The course, wherever taken in the world, is for about 2 years. But there are a wide variety of options and a lot of flexibility as well. One can do part-time MBA courses which may take up to 3 years. You can also take crash courses which are done in about a year. There are a few other options like evening colleges, correspondence courses etc.
Options MBA offers
It may be a little confusing to choose what specialization you would want to take in MBA as it an overwhelming number of options. The core popular ones among these are finance, marketing, operations, Human resources, information technology and economics. You may choose electives as well.
Colleges in India
True, the IIMs are the best colleges in India for MBA. But after IIMs Business schools such as Xavier school of management, Jamshedpur; Bharatiya Vidya Bhavan’s S.P. are right behind. Jain Institute of Management and Research, Mumbai; Management Development Institute, Gurgaon.
South India also has some good MBA institutes - Top MBA Colleges in Chennai include Department of Management Studies, Indian Institute of Technology, Madras; Anna University, Chennai. In Bangalore, we have PES University, Symbiosis Institute of business management.
The next question that arises is, “how to get into these institutes?”
There are a variety of exams like MAT, NMAT, XAT, CMAT and so on. But the most institutes all over India accept the CAT scores and hence it is considered as one of the most important for MBA.
Universities in Tamil Nadu require you to take up another exam called the TANCET. We have the PGCET in Karnataka. Some institutes require you to take up their own private exams.
This is of course by far the most considered topic. MBA offers a wide range of career options ranging from financial analyst to a portfolio manager to HR. The number of choices and futures in this field are very promising.