College graduates aspire to take up the Masters of Business Administration (MBA) course considering the promising career it offers. However, if you are struggling to answer the question ‘Why MBA?’, continue reading as this blog answers all your questions about MBA!
Hence, to simplify here is stating all basic information about the MBA program that every learner should know.
History of the MBA
The first mention of the MBA course dates back to the 1900s and was first conducted in the first graduate school of management, the Tuck School of Business at Dartmouth College. The course was then called Master of Commercial Science Degree and was later renamed to Master of Business Administration. The next college to introduce MBA was Harvard Graduate School of Business Administration in 1908, when they registered 80 students for their first batch of MBA courses.
Origin of the MBA in India
The Faculty of Management Studies of the University of Delhi prepared the first MBA syllabus for any Indian college in the year 1968.
Importance of the MBA
As mentioned earlier MBAs have a promising future as their salary structure from the very initial stage of their career is far high than usual Masters Students. Reaching management positions becomes easy with an MBA degree in your resume. Studies reveal 70% of MBAs serve as managers and board directors in their respective organizations. With an MBA, a student’s scope of networking enhances. It starts with their immediate professors, lecturers, and teachers moving on to potential employers, business associates, colleagues moving on to business partners and collaborators at the final stage. As a professional course, MBA leaves scope for a student to not only gain knowledge but also get familiar with the industry standards in terms of communication and moves. This again depends on the college/institute you pick to pursue the MBA exam.
MBA – The Course
MBA is a professional course offered to graduates by B-schools, colleges, and institutes through correspondence, full-time, part-time, or long-distance courses. The usual duration of a typical course including internships and semesters is two years.
Primarily, an MBA degree allows one to specialize in the following papers:
- Human Resources
- Strategy & Consulting
- General Management
- International Management
New MBA specializations:
- Media science
There are different kinds of MBA that an aspirant can take up, here is the list:
Full Time MBA
In a span of two years, students can qualify for the MBA degree by attending regular classes, clearing semesters, making presentations, doing internships, and so on. If calculated in terms of class hours, then for regular MBA students it sums to around 600 hours. The depth of syllabus and strength of curriculum is maximum when it comes to a full-time MBA of two-year duration.
One Year MBA or Accelerated MBA
Here is the entire MBA syllabus is made compact and students are taken all over it very fast. For some, they can keep pace with this fast learning; for some, the base remains a challenge. However, if there is pressure to build a successful career in a shorter span of time, these One Year MBA programs are a good choice.
Part Time MBA
Also, referred to as Executive MBA – this is pursued by professionals while they are working in the industry. Though balancing studies and work is a challenge here, yet the direct learning from industry and its corresponding understanding from professors – make this an interesting phenomenon. Classes are usually conducted during post office hours, as per the convenience of the students.
Evening (second shift) MBA
This is exactly like a regular MBA course of two years with the only difference that classes are conducted in the second half. So, students who remain occupied in the first half of the day can opt for this definitely ensuring that they have enough energy to remain awake and attentive during evening class hours.
This is a crash course of MBA where the syllabus is reduced to two to three major blocks and is completed by experts in very little time. Though the demand for this kind of MBA course is steep, it really leaves a big gap in the learning process for students. Yet, if you are in a hurry to add the MBA degree to your resume, this is your cup of tea.
Executive MBA (EMBA)
Originated in 1981, this MBA required work experience and is meant for professionals. Some colleges in fact state a minimum of 5-years or 10-years of work experience in order to pursue this. The syllabus of EMBA is framed in a way, that you cannot understand until you have an understanding of industry proceedings.
Eligibility for MBA Aspirants
The first primary criteria are to clear the college graduation with good or qualifying marks. Next, to this, students need to clear and have a good score in common entrance exams like the Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE). For top B-schools even set work experience as a criterion for MBA admission. However, the set of eligibility criteria differs from college to college or B-schools that you need to check prior admission process.
If your MBA course is split into 4 semesters then here is the probable syllabus that you can expect. However, the syllabus of the MBA exam varies between colleges, universities, and so on.
Important Considerations to Choose the Right MBA Program for Yourself
Which MBA Course You Want to Pursue?
The answer depends entirely on your present academic status and work experience (if any). Also how much time you are ready to spare for your MBA course is another determinant for you to decide your MBA course.
Where to Pursue MBA Course?
This is an important question that you should discuss with elders and experts to take the right decision. As the number of MBA providers is imply mushrooming, it’s important to pick a good one so that your MBA course really benefits your career in the future.
Why to Pursue MBA?
Do not take up an MBA course as a current trend or following your friend/cousin’s footsteps. Clear yourself with three genuine reasons why you want to pursue the MBA course and how it is beneficial for your career. This needs vivid research and insights from professionals to guide you.
How to Pursue MBA Exam?
Whether you want to be at home, attend college classes coaching and prepare. Or, stay out of college in a strict hostel life and do an MBA. Or opt for a distance or crash course of MBA is entirely your call. This decision is directly related to the time you intend to spend on your MBA course.
When to Pursue MBA?
Right after college, with some work experience or while working – among these three when you are ready to opt for an MBA course if only your decision that can’t be influenced by anybody else.
Pre-requisites for Overseas MBA
If you are planning to pursue an MBA outside India, then the eligibility criteria and documents required vary tremendously. So students who want to do an MBA course abroad must have the following ready before they start to apply:
- Work Experience
- TOEFL / IELTS / GRE score
- Recommendation letters
- Academic record
- Minimum graduation qualification
Pre-requisites for Indian Institute of Management (IIM) MBA
In India, pursuing an MBA from the IIMs is considered the best call to action. The first step to applying in IIMs for MBA course is to clear the Common Aptitude Test (CAT) for which you have to study its three sections namely, a) Quantitative Reasoning b) Logical Reasoning & Data Interpretation, and c) Verbal Ability and Reading Comprehension.
Clearing MAT for MBA Admission
Some colleges and universities consider the Management Aptitude Test (MAT) score for MBA admission. MAT exam is held four times in India – January, February, May, and September. It has 4 sections namely – Language Comprehension, Mathematical Skills, Data Analysis and Sufficiency, Intelligence and Critical Reasoning, and Indian and Global Environment.
Study Tips for MBA Students
Taking up the MBA course is not the end of your career. You still have time to think over and make a change. So simply consider the course as a syllabus to finish and continue with it only if you want to. In between our MBA studies if you find it boring or not your cup of tea you can always make a move.
Make Use of MBA Time
While most of your MBA days will be spent attending classes, doing presentations, or learning new as a whole; keep time in hand to do more than this. Using your MBA identity card try to attend conferences, business meets, and so on. This will help you get a flavor of the industry proceedings than only sticking to the MBA classroom.
Time Management in MBA Days
Depending on the MBA course you choose, you have 1 or 2 complete years in hand to explore. Make sanguine use of the time you get than simply sleeping or spending time with friends after class hours. Note, right after MBA you will have a full-time job to handle and it might not be possible for you to get the exploring opportunity.
Stick to Yourself
Many times, especially Indian students take up the MBA course in peer pressure or family pressure. Do not take up the MBA course until you are convinced that this renders you genuine benefits. Research enough and if you find your career in the future would require the MBA stamp then only go for it.
Please note these three P’s that are very important for you to successfully do your MBA course. The three P’s are Patience, Performance, and Persistence.