MBA (Master of Business Administration): Course, Admission, Top Colleges, Fees, Syllabus, Jobs, Scope

21 June,2024  |  By Brainwonders

The MBA, or Master of Business Administration, is a postgraduate degree in management and business administration. It is open to students from any academic background. In India, over 4,500 private, government, and deemed universities offer MBA programs in various specializations such as Finance, Human Resources, Digital Marketing, and Retail Management.

In 2023, IIM Calcutta reported an average package of Rs. 35.07 LPA. The median salary at the Indian Institute of Management Kozhikode was Rs. 27 LPA, with female students earning an average of Rs. 31.93 LPA. Students who have completed a 10+2+3 education are eligible for the MBA program. Major entrance exams for MBA programs include CAT, MAT, and XAT.

What is the Full Form of MBA?

The MBA, or Master of Business Administration, is a two-year postgraduate degree program. It offers various specializations, including Accounting, Financial Management, Cost and Management Accounting, Human Resource Management, Marketing, and Strategic Management.

Highlights- MBA (Master of Business Administration)

Particulars	Details
Name of the Course	MBA
MBA Full Form	Master of Business Administration
Course Level	Postgraduate
MBA Course Duration	Two years
MBA Eligibility Criteria	Candidates must pass a bachelor's degree in any specialisation from a recognised university with a minimum aggregate of 50 per cent (In the case of IIMs, it is 60 per cent).
Entrance Examinations	CAT, MAT, XAT, ATMA, CMAT, GMAT, NMAT
Top Colleges	IIMs, MDI Gurgaon, FMS Delhi, SPJIMR Mumbai, XLRI
Similar Specialisations	MBA in Finance, MBA in Sales, MBA in Human Resources, MBA in Marketing, MBA in Business Analytics, MBA in Digital Marketing
Average MBA fees	Government colleges: Rs 50,000 to Rs 4 lakh Private colleges: Rs 20 lakh to Rs. 25 lakh
Careers	Manager, Sales Manager, Marketing Manager, HR Manager
Average MBA Salary	Rs. 15,00,000 LPA
Top Recruiters	Google, Deloitte, NTPC, Citibank, ITC, Vodafone, Larsen & Toubro, Microsoft Amazon, Wipro, PwC

Why Choose an MBA Course?

Many colleges offer the MBA program, a popular master's degree in business, management, and commerce. This program helps students develop managerial skills and establish strong social and professional networks, which can lead to employment opportunities in various fields. MBA programs provide comprehensive and structured instruction focused on business objectives.

In India, the MBA offers a variety of specializations suitable for both undergraduates and working professionals. Graduates from top business schools such as IIM Ahmedabad, IIM Bangalore, MDI Gurgaon, and FMS Delhi earn an average of around Rs. 20 lakhs annually.

MBA graduates are in high demand in corporate and business organizations. Earning an MBA in India opens the door to numerous job opportunities. Some benefits include high remuneration, diverse job prospects, exposure to multiple industries, and career advancement.

Types of MBA Courses

The MBA degree program is highly sought-after by students aiming for a management education at the postgraduate level. MBA programs are offered in various formats, including distance learning and online modes, providing flexibility for students to complete their studies according to their convenience. Some types of MBA courses include:

List of MBA Specialisations

The MBA degree offers a range of specializations that cover general business administration as well as specific topics. The most popular MBA specializations are Finance, HR, Marketing Management, and Banking and Finance Management. In recent years, colleges have introduced new specializations such as MBA in FinTech, Artificial Intelligence, Data Analytics, and Aviation Management.

MBA in Marketing Management	MBA Data Science
MBA Artificial Intelligence	MBA in Entrepreneurship
MBA Hospital and Health Care Management	MBA in Rural Management
MBA in International Business	MBA Textile Management
MBA in Digital Marketing	MBA in Sustainability Management
MBA FinTech	MBA in Pharmaceutical Management
MBA in Communication and Media Management	MBA in Logistics Supply Chain Management
MBA in Banking & Finance Management	MBA in Data Analytics
MBA Port and Shipping Management	MBA Retail Management
MBA Banking and Insurance	MBA Capital Market

MBA Eligibility Criteria

Different types of MBA degrees have varying eligibility criteria for application. Graduates with degrees such as B.Tech, BBA, BCA, B.Com, BA, and BSc can pursue an MBA course. This degree is highly significant for many managerial-level positions across diverse industries and sectors.

Who Can Do an MBA?

Students from diverse streams, including Science, Humanities, and Commerce, are eligible to pursue an MBA course. Below, we outline the eligibility criteria for MBA admission:

• Applicants should have completed or be in the final year of a bachelor's degree in any stream, with a minimum duration of three years.
• Common bachelor's degree programs include B.Tech, BBA, B.Sc, BA, and B.Com.
• Candidates are typically required to maintain a minimum score of 50 percent throughout their bachelor's degree (though for IIMs, it's often 60 percent).
• A minimum of 60 percent in 10+2 from a recognized Indian board is usually required.
• Candidates must also pass the entrance exam and meet the MBA cutoff requirements set by the respective colleges.

MBA Course Duration

The MBA course typically spans two years, divided into four semesters. The first year focuses on the general management curriculum, while the second year delves into specialized knowledge within chosen specializations. However, the duration of an MBA program can vary depending on its type; for instance, an Executive MBA typically lasts for one year, while a regular MBA program extends over two years.

Skills Required for MBA Course

Candidates pursuing an MBA course are expected to enter business management roles upon graduation. Success in these roles requires possessing essential leadership abilities and traits. The MBA qualification encompasses a bachelor's degree and critical skills such as managerial, analytical, and decision-making abilities.

• Learning skills
• Analytical skills
• Managerial skills
• Communication skills
• Decision-making skills

Top MBA Entrance Exams in India

To secure admission to top MBA colleges in India, applicants must pass entrance exams like the Common Admission Test (CAT), Xavier Aptitude Test (XAT), Management Aptitude Test (MAT), and NMAT. This section highlights some of the MBA entrance examinations.

Exam Name	Level	Conducting Body	Exam Schedule
CAT	National	IIM Lucknow	CAT Exam Schedule
MAT	National	All India Management Association	MAT Exam Schedule
XAT	National	XLRI Jamshedpur	XAT Exam Schedule
CMAT	National	National Testing Agency	CMAT Exam Schedule
NMAT	National	Graduate Management Admission Council	NMAT Exam Schedule

Important Dates for the MBA Entrance Examination

Students must sit for the CAT or MAT entrance examination to enrol in an MBA degree program. The cutoff scores of these entrance exams determine admission to colleges in India. Refer to the table below for the key dates of CAT 2024 and MAT 2024.

Entrance Exam	Application Date	Admit Card	Exam Date	Result Date
CAT	02 Aug, 2024 - 20 Sep, 2024 (Tentative)	24 Oct, 2024 - 24 Nov, 2024 (Tentative)	24 Nov, 2024 (Tentative)	21 Dec, 2024 (Tentative)

Top MBA Colleges Accepting Popular MBA Entrance Exams

Several colleges in India administer MBA entrance exams for students. Top management colleges in India accept a variety of entrance exams based on eligibility standards and entrance requirements for MBA degrees.

Institutions	MBA Exam
IIM Ahmedabad	CAT
XLRI Jamshedpur	XAT
Symbiosis University	SNAP
NMIMS Mumbai	NMAT
Indian Institute of Foreign Trade	IIFT
IIM Bangalore	CAT
UPES Dehradun	CAT
IBS Hyderabad	CAT
FMS Delhi	CAT
Woxsen School of Business	XAT

MBA Admission Process

Admission to MBA programs in both top private and government colleges in India relies on the level of examination conducted by relevant state or national organizations. The MBA admission process is entirely based on MBA entrance exams.

MBA Admission Based on the Entrance Examination

Prospective students must pass the MBA entrance exams for their preferred management college to enrol in a Master of Business Administration program in India. They must also successfully navigate the entrance exams and interview procedures as part of the selection process.

For MBA admission, there are various entrance exams conducted at the national, state, and university levels:

• National Entrance Test: Top national-level MBA entrance exams include CAT, MAT, XAT, ATMA, CMAT, and IIFT.
• State-level MBA Admission: States also conduct their own MBA entrance tests, such as MAH MBA CET, OJEE MBA, TANCET, APICET, and KMAT.
• University Entrance Test: Reputed MBA colleges conduct university-level tests like NMAT/NMIMS, CUSAT, SNAP, and IPU CET.

MBA Fees Structure

The MBA fee structure varies across colleges in India and is influenced by factors like available resources and university amenities. In addition to covering tuition fees, MBA fees may include access to college facilities.

Top MBA colleges like IIMs, SPJIMR, and MDI Gurgaon typically charge an average of Rs. 20 lakhs to Rs. 25 lakhs for the entire course. On the other hand, government colleges generally charge lower fees, averaging Rs. 50,000 to Rs. four lakhs per annum.

What After MBA?

Upon completing their MBA in India, students can embark on full-time professional careers, start their own startups, or pursue further studies. Many companies seek MBA graduates with the requisite skills and experience for employment opportunities.

Option 1: Graduates can enter the corporate sector as full-time employees, with an average salary of approximately Rs. 12 lakhs per annum.

Option 2: Alternatively, candidates may pursue a PhD program in management or a related field.

MBA Employment Opportunities

Many students pursue MBA degrees to secure employment after graduation. Upon obtaining their MBA degree, many find job opportunities across various industries, such as Human Resources, Finance, and Operations.

• Manager: This role involves overseeing the management of a team, department, or organization, serving as the leader and supervising the team's activities.
• Sales Manager: Responsible for overseeing all aspects of the sales process, ensuring targets are met, and maximizing profits.
• Marketing Manager: Manages various marketing tasks, including campaigns, sales initiatives, client proposals, and product promotion.
• HR Manager: Oversees the human resources function of an organization, including recruitment, employee relations, and resolving professional disputes

Salary After MBA

The MBA salary varies depending on the specialization chosen by students. After completing an MBA course in India, the average salary typically ranges from Rs. 4,00,000 to Rs. 32,00,000 per annum. The type of MBA jobs one can secure depends on the chosen specialization.

Marketing specialization often yields the highest selection rates among management students. Factors such as MBA specialization, industry experience, college reputation, and job designation significantly influence MBA salaries. Refer to the table below for MBA graduate salaries in India.

Job Profiles	Average Salary
Manager	Rs. 11.6 LPA
Sales Manager	Rs. 5.0 LPA
Marketing Manager	Rs. 7.0 LPA
HR Manager	Rs. 6.6 LPA

Frequently Asked Questions (FAQs)

Q1. What is an MBA course?

Ans: An MBA is a postgraduate degree providing both practical and theoretical knowledge in business, finance, and investment management. The Master of Business Administration is a two-year professional degree program. MBA degrees are available in various formats, including online, part-time, distance, integrated, and executive MBA.

Q2. What is the duration of an MBA course?

Ans: A full-time MBA degree programme's total duration is two years, equally segregated into four semesters.

Q3. What is the eligibility for an MBA?

Ans: Candidates must hold a bachelor's degree in any discipline to be eligible for an MBA postgraduate program.

Q4. What is the admission process for an MBA degree programme?

Ans: Admission to MBA degree programs in 2024, whether in private or government colleges, is based on national, state, or university-level entrance examinations.

Q5. What are some of the top MBA entrance examinations?

Ans: Some of the top MBA entrance examinations include CAT, XAT, SNAP, CMAT, and IIFT

Q6. What is the difference between an MBA and a PGDM?

Ans: The fundamental distinction between an MBA and a PGDM is that an MBA is a degree, while a PGDM is a diploma program. Stand-alone institutions or autonomous bodies offer PGDM programs, whereas MBAs are provided by universities or colleges affiliated with top management universities.