What is MBA – Admission, Eligibility Criteria, Courses, Duration

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What is MBA

4 Sep 2015
- admin
- Admissions Office
Admissions, Candidates, Pre MBA

Master of Business Administration, commonly known as MBA is a highly valued degree designed to develop the skills required for careers in business and management. MBA helps you grow and evolve to successfully manage, lead, organize and adapt in a variety of business environments.

An MBA program prepares you with practical skills as well as theoretical knowledge that you can further your business aspirations with. An MBA can translate your raw potential into great opportunities. If you are inclined towards business, managerial or leadership roles or if you have always wanted to climb up the corporate ladder, then an MBA is the right option for you.

Once you have decided that you are ready to pursue an MBA, you can look at different MBA programs that can give a boost to your career and earn you a high paying job. Here is the list of some of the most popular MBA courses or specialisations that you can choose from:

1) Human Resources Management

Human Resources is a field with enormous potential in several aspects of the functioning of an organization. An MBA in HR will hone the skills of an individual and master the field by learning the topics that are relevant to corporate headhunting, compensation management and business coaching, among other people management related skills.

An HR specialisation in MBA will teach subjects like Organizational Development, Business Analysis and Employee Recruitment. An MBA in HR is a boon to all of those looking for a successful stint at the corporate level.

Major Benefits: Acquire leadership qualities, learn people management, develop analytical people skills, workplace learning, professional development, understand organizational psychology, etc.

Jobs: Human Resources Manager, Senior Human Resources Consultant, Manager – HR Operations, Vice President of Human Resources, Director of Employee Experience & Communications, Director of Global Engagement and Culture, Employee Relations Manager, Manager – Learning & Development, etc.

Average Annual Income: 12.6 Lakhs per annum

2) Business Leadership

Business Leadership is one of the most sought-after programs for professionals. Any successful business not only requires excellent strategy but also requires competent professionals in leadership roles for efficient execution of these strategies. If you have an MBA in Business Leadership, you can contribute to productivity and collaboration at the workplace.

It is ideal for individuals who deviate towards entrepreneurship or aim for leadership roles in various organisations. They establish a new form of learning that can be implemented at the organizational level to address strategic challenges in a company and work on profitable business initiatives.

Major Benefits: Learn how to lead and manage a team, learn how to network with top-level corporate personas, acquire leadership skills, learn to build strategies and think tactically.

Jobs: Business Development Manager, Chief Executive Officer, Vice President – Business Partnerships, and other leadership positions.

Average Annual Income: 25.8 Lakhs per annum

3) Accounting

An MBA in accounting is one of the most popular MBA courses in India. The course offers an individual with varied prospects across the globe as it stresses upon developing skills that are very important for the operation & control of accounting information systems of any company. The course can be pursued as a full-time or a part-time degree.

Students having an undergraduate degree in Accounting or in Commerce, as well as those who do not belong to the Commerce background, can apply for the full-time MBA courses nation-wide. Whereas the part-time MBA courses are executive MBA courses that are suitable for professionals with a few years of experience.

Major Benefits: learn principles of investing and portfolio management, learn finance management, acquire strategic thinking capabilities, boost self-confidence.

Jobs: Management Analyst, Senior Accountant, Bank Manager, Manager – Operations, Director – Operations and other related roles.

Average Annual Income: 12.1 Lakhs per annum

4) Finance

Finance is an integral part of any organization and an MBA in finance will prepare you for leadership roles in financial corporations, healthcare industries and government. Students learn about all aspects of corporate finances such as conducting analyses, managing portfolios and developing business strategies.

Major Benefits: learn the management of personal finance, develop time-management and communication skills, explore varied financial sectors and acquire corporate management skills.

Jobs: Finance Analyst, Financial Manager, Investment Banker, Corporate Controller, Chief Financial Officer and Personal Financial Advisor.

Average Annual Income: 14 Lakhs per annum

5) Marketing

A degree in marketing prepares you for a fast-paced business of developing, marketing and selling products to different consumer markets. An MBA in Marketing offers specialized courses in consumer behaviour, brand and product management, promotions and marketing strategies, apart from the regular courses including advanced business strategies, human resources and finance.

A Marketing Major presents an opportunity to lead your way towards higher positions, increased salary and better career opportunities in a variety of fields. The MBA courses train you to develop a variety of business skills which can be applied and transferred to other business areas as well.

Benefits: Learn the art of marketing a $1 pen at $100, develop strategical thinking ability, learn the principles of marketing and know about different ways you can launch and market a product or service.

Jobs: Marketing Analyst, Content Marketing Specialist, Marketing Manager, Digital Marketing Manager, VP – Marketing, Chief Marketing Officer, and Director – Marketing.

Average Annual Income: 15.7 Lakhs per annum

6) Economics

An MBA in Economics is one of those versatile management courses out there which teaches an individual the fundamentals of economic decision-making and focuses on various practical aspects of business & commerce. It aims to develop an articulate mindset in individuals to maximize any business’s potential.

An economic graduate will be able to set up a business in view of the local market & anticipate its growth and development keeping in mind both the local as well as international market standards. Most of the jobs that attract graduates with an Economics MBA degree are those that involve a lot of decision making and supervisory roles.

This degree imparts theoretical knowledge which can be put to practical use in almost all aspects of a business. Therefore, there are many different opportunities that graduates may want to pursue.

Benefits: Understand when the economy rises and when it falls, learn the principles of GDP, acquire corporate management skills, learn how to predict future economic deltas.

Jobs: Pricing Analyst, Management Consultant, Economic Forecaster, Chief Revenue Officer, Chief Finance Officer, Director – Finance and Operations and other related roles.

Average Annual Income: 16.2 Lakhs per annum

7) Digital Business

In the current Digital industry landscape, knowledge and management orientation of emerging technologies is very critical for a management graduate. The IT & Digital sector is growing at a rapid pace and there are a number of growth opportunities here. An MBA in Digital focuses on the digitisation of business. Modern-day Digital companies need flexible minds to deal with both business and technical aspects.

Benefits: Learn the principles of project management, learn the art of managing and leading a team, acquire leadership skills and acquire varied specialities to work in different environments.

Jobs: Chief Digital Officer, IT Project Manager, Chief Technology Officer, Manager – Business Digitisation, Enterprise IT Manager, Chief Information Officer and other leadership roles.

Average Annual Income: 22.0 Lakhs per annum

The following are the different fields in MBA that an individual can pursue-
- Business Management
- E-Business/E-Commerce
- Entrepreneurship
- Global Management
- Information Systems
- Operations Management
- Strategic/Risk Management
- Technology Management
- Leadership Programs
- PG Programs
The goal of most business professionals is to obtain a management position and to effectively manage an organization within a particular industry for which substantial knowledge of the same is necessary. Management MBAs are designed to help professionals develop their industry expertise in different areas such as health care, banking, leadership, hospitality, IT and supply chain.

The MBA Advantage –

An MBA gives you recognition and leadership that cannot be earned in the workplace alone. Pursuing a post-graduate level course in business administration will prepare you to work in a wide range of business organizations, thus expanding your potential and expertise. MBAs are recognized in most countries as respected business credentials, opening up a world of career opportunities for such degree holders.

While traditional two year MBA programs are still common, one year MBA programs have become increasingly popular. Part-time and online programs are also widely available for professionals not willing or unable to take a year or two off to do a full-time program. Executive MBA programs in India are targeted at professionals with more years of managerial experience than traditional MBA candidates.

After going through the above points, we hope that every doubt related to an MBA program would have been answered.

Frequently Asked Questions (FAQs)

In case you have more questions about MBA, you can have a close look at these FAQs or contact us for further queries.

Is MBA a professional course?

Master of Business Administration (MBA) is a professional degree. The accreditation bodies specifically designed for MBA programs ensure the quality and consistency of education across the MBA schools in India.

How many years will it take to complete an MBA?

If you are going for a regular MBA degree, it will take you 2 years to complete it that includes four semesters of coursework. The post-graduate MBA diploma programs are designed for one-year.

What are the benefits of an MBA degree?

Being an MBA gives you several benefits like increased self-confidence, more professional credibility, better communication skills, strategic thinking, better time management skills, self-discipline as well as knowledge of business subjects that will ensure a long term, successful career in business.

What are the courses in MBA?

There are around 2500+ courses in MBA across the world that can be pursued. The major specialisations include Human Resources, Marketing, Financial Management, IT Management, Business Analytics, Supply Chain Management, Operations Management and Entrepreneurship among others.

What are the major subjects in MBA?

The core MBA courses subjects cover areas of business administration such as applied statistics, business ethics, business law, business strategy, managerial economics, self-Leadership, entrepreneurship, brand management, sales management and operations. The subjects may vary based on your course.

What skills should an MBA have?

An MBA must acquire leadership skills that can lead to collaboration in the team, yielding effective results. Problem-solving skills, adaptability to VUCA, innovative thinking, creativity and an analytical mindset are a must for an MBA. At the same time, an MBA should have good interpersonal communication skills.

What is the salary of MBA Graduate?

Pursuing MBA from top B schools is like ensuring good salaries in the future. When it comes to the starting salary of an MBA, the average is around 10 lakhs per annum.

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Topics

Audience

Industry

Year

Is MBA a professional course?

How many years will it take to complete an MBA?

What are the benefits of an MBA degree?

What are the courses in MBA?

What are the major subjects in MBA?

What skills should an MBA have?

What is the salary of MBA Graduate?

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