Know All About The Most Popular Degree MBA

Master of Business Administration is one of the most pursued master’s degrees today. What is making it highest on the wishlist of many career enthusiasts is startling. It is even popular among candidates who are not having a business educational background. Does it really offer professional success?! Sure it must be offering some high opportunities making it an invariable choice of numerous aspirants. 

Let’s reel off the numerous queries you may have about the MBA Degree. What is a Master of Business Administration, and why do MBA? What are the different specializations in MBA? What are the top universities in India offering online MBAs? What career prospects does it offer to hold an MBA degree? 

Master of Business Administration: An Overview

MBA is a proficiency-building course in the field of business administration. The course originated in the United States, on the thrust of industrial development, in the earliest part of the 20th century. Today, It is one of the most prestigious degrees worldwide. 

From teaching the core subjects like accounting, economics, finance, MBA programs have evolved over the years and offer proficiency with specialization in varied fields of business management. Not only have the course structures changed, but the modes of pursuing the degree have also changed over the years. 
Virtual feasibility in pursuing courses in MBA has made it even more possible and popular.

MBA Course: Key Highlights

Features of MBA Programs:

• Students from any stream (Science, Commerce, and Humanities) and age can pursue the degree in MBA.
• It is generally a two-year degree program. However, certain universities offer one-year PGDM programs.
• MBA Programs are offered in the categories of general and specialization.
• MBA offers specialization in the various fields of management: operations, sales, marketing, human resource, finance, logistics, etc. 
• MBA degree programs also vary with the institutions that offer them. 
• MBA Schools offer their own designed degree programs and specializations.
• One can pursue an MBA degree through any mode like Full-time, Part-time, Executive MBA, Online, and Distance-Education. 
• Under any mode, all MBA programs value teaching in both the practical and theoretical dimensions.
• Fresh graduates and work experience both can study MBA and advance their career prospects.

Why Do MBA?

Holding an MBA degree is climbing the ladder of success in the career and profession. It entitles a person to be proficient and efficient for running a business, or doing a job, or carrying its profession ahead. It equips you with managerial skills, business knowledge, leadership qualities required for managing your job, or profession, or business. What keeps MBA degree on the wishlist of many is it paves a way to:

• Desired salary 
• Career growth avenues
• Promotion opportunities
• Be fit for working internationally
• Developing industrial, managerial, entrepreneurial, and technical skills
• Develops critical thinking

Types of MBA

MBA courses are available in various modes and formats. 

• Regular MBA: 

Regular MBA or Full-time MBA is a two-year program. It implies studying under the classroom teaching model. Under it, a student undergoes live projects, internship programs, and may gain a final placement through the university placement program. There are around 5000 regular MBA colleges in India. Admission in such degree programs is usually based on entrance tests and eligibility criteria. The Tuition fee for studying under a regular MBA may cost you between Rs 2 lakh to 25 lakh on average.

• Part-Time MBA: 

It suits mostly the working professionals driven to learn managerial skills and advance their careers. However, you may not have campus placement or internship opportunities studying under this model. There are around 300 MBA colleges, private and government offering part-time MBA. The tuition fee for studying under a part-time MBA may cost you between Rs 1 lakh to 10 lakh on average.

• Distance MBA: 

Under this mode, you can pursue the program remotely through correspondence. The college you are enrolled with shall send the study material through the mail for self-learning. You appear for semestrial exams at the examination center organized by the college and complete the degree program. It offers the flexibility of completing the course in two to three years on self-learning efforts. There are around 490 colleges in India offering distance MBA degrees. 

• Online MBA: 

This has become the most popular model today for the great convenience it offers in undertaking the MBA degree program virtually. In online mode, you can have notes, semestrial assessments, and recorded or live lectures shared through Learning Management System (LMS). You give semestrial exams virtually from your location. It facilitates a learner studying across the borders from prominent universities offering accredited courses. There are around 200 colleges in India offering accredited online MBA degree programs.

• Executive MBA:

Interested working professionals having more than 5 years of working experience can pursue an Executive MBA course. The curriculum offered under an Executive MBA is similar to the regular MBA, but it takes a shorter period (15 to 19 months). There are around 440 Colleges in India offering Executive MBA programs.

• 5 year- Integrated MBA: 

It offers undergraduates to pursue a 5-year academic program and postgraduate with the MBA degree. In India, the esteemed institutes of management studies like IIM Rohtak, IIM Indore, IIM Ranchi, IIM Jammu, IIM Bodhgaya, NMIMS, Xavier University, and Nirma University are among the others who are offering graduation + MBA degree programs.  

MBA Specialisations

You can choose to do a regular or general MBA course or an MBA in a particular field called specialization. MBA with specialization can equip you to drive your career towards a specific field like Finance, Operations, Sales and Marketing, and Human resources, etc. Following is given a list of some most popular specializations in MBA.

MBA Career Scope: Jobs and Salary

Having an MBA degree leads to working at the executive level in the domain or sectors and their management jobs. Based on your specialization you can have a career direction in a distinct sector. After an MBA the different management positions you can work for includes:

In the Public Sector at any management field of:

• Finance
• Operations & Project Management
• Technology Management
• Accounting
• Computer System
• E-business
• Entrepreneurship
• Global Management
• Healthcare
• Human Resource
• International Business

In the Private Sector at any managerial level of:

• Financial Research Analyst
• Securities/Investment Analyst
• Financial Advisor
• Portfolio Manager
• Real Estate
• Fashion Industry
• Information Security Analyst
• Operations Research Analyst
• Management Analyst
• HR Specialist
• Credit Risk Management Analyst

In the IT Sector at any managerial level of:

• HR Manager
• ERP Consultants
• Project Managers
• Business Analyst
• IT Manager
• Business Development Manager

MBA with specialization offers a management job profile in certain sectors.

With specialization in Finance as a:

• Financial Manager
• Financial Advisor
• Accounting Manager
• Corporate Controller
• Chief Financial Officer
• Treasurers
• Cash Managers
• Risk and Insurance Manager
• Investment Bankers

With Specialization in Human Resource as a:

• Human Resource Development
• Personnel Management
• Human Resource Generalist
• Industrial Relations

With Specialization in Marketing as a:

• Public Relations Specialist
• Marketing Manager
• Brand Manager
• Market Research Analyst
• Sales Manager
• Media Planning
• Product Manager
• Internet Marketing