The Master of Business Administration (MBA) degree is one of the most prestigious qualifications that opens doors of opportunities to lucrative career options in the business world. The Master of Business Administration (MBA) degree holds huge importance in today’s dynamic ever-changing fast pacing and competitive business landscape. It has become a globally recognized qualification that is respectable and valuable in not only India but the whole world. An MBA degree equips individuals with valuable skills, knowledge, and networks necessary to excel in leadership roles, and solving complex business challenges, and lead to organizational growth. This degree offers a transformative learning experience, enabling individuals to gain a deeper understanding of various business principles, develop critical thinking abilities, and enhance problem-solving and decision-making skills. In an increasingly interconnected and fast-paced ever-changing world, an MBA is more than just a degree.
Eligibility Criteria for Pursuing Master of Business Administration (MBA)
Candidates should have completed a bachelor’s degree in any discipline from a recognized university or institution.
Most of the institutions require candidates to have a minimum aggregate score of 50% in their undergraduate studies. However, some prestigious institutions may have different cutoffs.
Some MBA programs prefer candidates with prior work experience over freshers. However, this requirement may vary across different institutions and can often be waived for some exceptional candidates.
Top Entrance Examinations for Masters of Business Administration (MBA)
Candidates are required to appear for national-level or institution-specific entrance examinations, such as CAT, MAT, XAT, GMAT, or CMAT, etc.
MBA entrances generally focus on evaluating three key areas, Verbal ability, Reasoning, and Quantitative Ability. Some of the entrances which are most preferred by colleges and students are:-
- Common Admission Test (CAT): It is conducted by the Indian Institutes of Management (IIMs) and is among the most prestigious and widely accepted entrance exams for MBA programs in India.
- Management Aptitude Test (MAT): IT is conducted by the All India Management Association (AIMA), and is a standardized test accepted by various business schools across India.
- Xavier Aptitude Test (XAT): It is conducted by XLRI Jamshedpur, and is accepted by more than 150 B-schools in India.
- Graduate Management Admission Test (GMAT): It is an internationally recognized entrance examination accepted by several business schools worldwide, including some in India.
- Common Management Admission Test (CMAT): It is conducted by the National Testing Agency (NTA), and is a national-level entrance exam accepted by various AICTE-approved institutions.
Master of Business Administration (MBA) Average Fees
The average fees for pursuing an MBA degree in India vary depending on various factors like the institution, location, specialization, and reputation of the program, etc. On average, the fees for MBA programs in India range between close to INR 5 lakhs to INR 25 lakhs. However, prices for top renowned institutions can go far beyond this range.
Top Reputed colleges of India known for their Master of Business Administration (MBA) degree
Top Reputed Colleges of India that are well known for their Master of Business Administration (MBA) Degrees are Indian Institutes of Management (IIMs), XLRI Jamshedpur, SP Jain Institute of Management and Research (SPJIMR), Faculty of Management Studies (FMS) Indian School of Business (ISB) is the top reputed college for MBA in India.
Master of Business Administration (MBA) Syllabus and Duration
The Master of Business Administration (MBA) Syllabus includes vast topics like accounting, economics, marketing, operations, organizational behavior, and business communication and is a two-year postgraduate program divided into 4 semesters just like every other postgraduate program.
Many MBA programs include a compulsory summer internship in which students gain practical industry experience and apply their classroom learning in real-world scenarios.
Master of Business Administration (MBA) Average Salary
The average salary that an MBA graduate expects varies depending on various factors such as the reputation of the institution, specialization, work experience, and industry, etc. Top-tier institutions can often provide higher salaries. On average, MBA graduates in India can expect starting salaries ranging from INR 6 lakhs to INR 25 lakhs per annum.
Master of Business Administration (MBA) Top Recruiters
MBA students get an opportunity to work in top companies of the world in different domains like:-
- Consulting – McKinsey & Company, Boston Consulting Group (BCG), Bain & Company, Deloitte, KPMG, PricewaterhouseCoopers (PwC)
- Investment Banking – Top Companies like Goldman Sachs and J.P. Morgan
- Technology – Google, Microsoft, Amazon, Apple, IBM, Infosys, TCS
- FMCG – Procter & Gamble (P&G), Hindustan Unilever Limited (HUL), Nestle, ITC, Coca-Cola, PepsiCo
- Manufacturing – Tata Group, Reliance Industries Limited (RIL), Larsen & Toubro (L&T), Mahindra Group, Aditya Birla Group
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FAQs
What is the full form of an MBA?
MBA stands for Masters of Business Administration.
What are the eligibility criteria for MBA?
Eligibility criteria for a Master of Administration (MBA) include a bachelor’s degree and a minimum aggregate score of 50% in their undergraduate studies in some colleges.
What are the Average fees for an MBA course?
On average, the fees for MBA programs in India range between close to INR 5 lakhs to INR 25 lakhs.
What is the average salary of an MBA graduate in India?
Top-tier institutions can often provide higher salaries. On average, MBA graduates in India can expect starting salaries ranging from INR 6 lakhs to INR 25 lakhs per annum.
Is MBA a good career path to pursue?
Yes, MBA is one of the most lucrative career paths in management and has huge growth potential.
What is the duration for completing the MBA course?
The duration for completing an MBA course is Two years which involves 4 semesters.