MBA Admission Process In India 2023-24
What is MBA?
An MBA, elaborated as a master of business administration, is a graduate degree that provides theoretical and practical business or investment management training. An MBA is designed to help graduates better understand general business and various management functions. In this blog we describe all about MBA admission process in india for 2023 -24 academic year. #thecareercounsellor
MBA course typically include core classes in different ﬁelds such as accounting, management, ﬁnance, marketing, and business law. Management training is one of the core subjects of any MBA curriculum, focusing on leadership, compatibility, planning, business strategy, tackling behavior, and the more human and technical requirement of running a large or small business. A master of business administration (MBA) is more considerate and efficient than an undergraduate business degree. It generally places the candidates well above those with undergraduate or basic graduation degrees. Majorly universities and colleges provide MBA programs of 2 years of duration.
MBA programs vary from ﬁeld to ﬁeld, such as disciplines, specialties, and schools. It is more likely that an MBA candidate can ﬁnd a better solution for their schedule, interests, requirements, needs, and time conﬁnement.
Lets Know More About MBA Admission Process in India 2023-24
Types of MBA courses available:
Broadly classifying, there are majorly seven types of MBA courses available:
1. TWO-YEAR-FULL-TIME COURSE:
Lets start with the types of MBA Course in all about MBA admission process in India 2023 The most common and known type of MBA program is a two-year commitment. In this speciﬁc course, candidates are required to attend college/university full-time. During the ﬁrst year of the program, the candidates are more likely to learn about fundamental business skills such as various strategies and mass communication. It is more common for candidates to choose more speciﬁc electives in the second year of the course.
Although requiring a huge amount of time, the two-year program also allows candidates to pursue an internship between the years. The longer duration is also intended to help strong and trustworthy relationships with classmates, giving candidates more time to absorb materials.
2. ONE-YEAR-FULL-TIME COURSE
Accelerated programs or fast-driven courses usually bind up the two-year program into a single year making it convenient for candidates who don’t want to spend too much time in the universities, such as MBA program, is more intensive, faster paced, and often might lead to sacriﬁce of quality.
During a one-year full-time MBA program, candidates may still learn general business skills while selecting other speciﬁcation. However, less time may be dedicated to either group due to the condensed nature of the coursework, which may lead to no pursuit of the internship. One-year programs are often chosen by students who may have different visions or are involved in some other courses or work.
3. PART-TIME COURSE
Candidates who are not heading to leave work and are not willing to attend classes or university for a long time may lead towards a part-time MBA course. This type of program often has greater ﬂexibility regarding topics such as
- how many courses can be taken at once?
- how many subjects are to be studied ﬁrst and others later?
- how quickly a student must move through the course?
Part-time programs are generally more favorable and convenient for candidates who want to study at their own pace. Also, part-time programs could be better suited based on lifestyle demands. Part-time programs may offer various ﬂexibility of the evening or rescheduled classes, allowing candidates to balance part-time, home, freelance, economy, or other work.
4. ONLINE COURSE
All of us are aware of online courses, especially after the covid era. This has become one of the most convenient and used methods of studying. Generally, two-year, one-year, or part-time options allow students to attend school remotely. This type of MBA program provided candidates with even greater ﬂexibility and leniency regarding
- when they take classes?
- how they attend school?
Online programs also allow the ﬂexibility to attend the classes later on or revise the pre-recorded sessions making it easier to grasp the course.
5. INTERNATIONAL COURSE
Some MBA programs focus on global operations. Candidates interested in a wider focus and search to branch out from just domestic companies or segments of a company may take help from such courses. It helps candidates build an international network and get opportunities worldwide. International MBA candidates may be more diverse and have greater problems tackling aptitude than traditional or domestic MBAs, especially if the global MBA offers the ﬂexibility to have online classes.
International MBA programs may be a better and more suitable option to prepare candidates for working in a multinational corporation.
6. EXECUTIVE COURSE
Various specialized MBA courses are available for students whose lifestyles and careers only permit them to attend school part-time. For instance, executive MBA programs are designed for working professionals hoping to add quality and skills to their credentials and qualiﬁcations. These courses of study generally schedule classes for nights and weekends, sometimes also requiring short residencies of intensive coursework for the candidate’s ease. Executive MBA programs are, in general, only open to candidates who already have some substantial professional experience, and they thus tend to focus on more advanced topics such as
- Leadership development
- New skills development.
7. Specialized Course
The last and the least known of such courses is the specialized course. While normal MBA candidates can focus on one of the core disciplines of the degree as per the course allows, such as management or ﬁnance, many MBA programs allow students to develop concentrations in speciﬁc industries, and this course is among those. For example, an MBA student might specialize in various ﬁelds as per interest, such as
- sports management
- the entertainment business
- healthcare management
- organizational management
Beneﬁts of MBA Course
Greater Awareness of a Global Market:
One of the top benefits of get MBA admission that is candidates can use their MBA to understand what is happening in different areas of the world in other and better ways.
Improve Communication Skills
MBA candidates are often trained to have great communication skills as they must communicate with other professionals, write research papers, and give formal presentations as needed. MBA candidates can also use their coursework to improve their ability to connect with others and build relationships with those working alone.
Expand Professional Network
An MBA degree is generally used for people who meet along the way. One of the main advantages of an MBA school is the opportunity to network, forge contacts, and meet new people. In addition to the knowledge obtained, the MBA program can be used to connect with others with the vision of mutual long-term beneﬁt and trustworthy relationships with your peers.
Through formal or informal networking, one can exchange information or ideas with individuals with the same mindset.
Increased Job Opportunities
As discussed earlier, MBA candidates are often more desirable and perfect ﬁt as compared to other candidates with undergraduate degrees based on their proven skillset, mindset, and dedication to their profession. In addition, advancement or higher positions are more likely to become available to candidates that would otherwise not be considered for roles.
Mba Admission in India Entrance criteria
To get into an MBA admission in india, an applicant must take an entrance exam. Some of the most famous are :
- Graduate Management Admission Test (GMAT)
- Common Admission Test (CAT)
- Common management admission test (CMAT)
and meet the program’s eligibility requirements in order to be accepted.
Every MBA program will have different requirements. More candidates will typically need to apply to more competitive programmes or schools because of the higher level of competition. You can apply for MBA admission in the UK without IELTS test, and many more universities in India and overseas accept direct admission without any requirements.
Top MBA Colleges in India
Top 10 MBA colleges in India (along with fees) as per a study in 2023 –
1. IIM Ahmedabad (Rs.23 Lakhs)
2. IIM Bangalore (Rs.24.5 Lakhs)
3. IIM Calcutta (Rs.25 Lakhs)
4. FMS (Rs.2.5 Lakhs)
5. IIM Kozhikode (Rs.20.5 Lakhs)
6. IIT Delhi (Rs.9.89 Lakhs)
7. IIT Bombay (Rs.8.56 Lakhs)
8. IIM Indore (Rs.21 Lakhs)
9. IIM Lucknow (Rs.19.2 Lakhs)
10. JBIMS (Rs.7 lakhs)
Some of the most prestigious MBA courses are named “M7 MBA PROGRAM” in certain schools, as listed below.
•Harvard Business School.
•Stanford Graduate School of Business.
•MIT Sloan School of Management.
•Northwestern University’s Kellogg School of Management.
•University of Chicago’s Booth School of Business.
•Wharton School at the University of Pennsylvania.
•Columbia Business School.
FAQS ABOUT MBA :
What Is the Salary of an MBA?
As per the data analyst and records collected till December 2021, an MBA earns an estimated total pay of $106,000 annually. The same salary data indicates a possible salary range between $45,000 to $518,000 per year for an MBA.
What Is an MBA Good for?
An MBA is good for majorly two primary purposes. The first one is that the business professionals that obtain an MBA undergo multiple sets of classes that, in some manner or any improve the candidate’s skill set. At the end of an MBA program, the MBA candidate should have learned new skills, expanded their network, better understand how to strategically approach and tackle problems, and be a more competent, disciplined, and well-learned professional.
On the other hand, the second primary benefit of an MBA is a higher degree of desirability and eligibility with one’s employer. Having a greater skillset, MBA candidates often have an advantage during job searches and may command higher pay than an undergraduate. Holding an MBA usually makes an employee more desirable for a company to hire and retain.You can apply for MBA admission in the UK without IELTS test, and many more universities in India and overseas accept direct admission without any requirements.