Full Details on MBA
Full Details on MBA,Sep 05, 2023
Online MBA
Sep 05, 2023
1790 Views
Full Details on MBA: List of Courses, Subjects, and Colleges
MBA is Master of Business and Administration, a globally recognized postgraduate programme that equips learners with specific skills to conquer business and management challenges. MBA facilitates students with the capabilities needed to advance their career goals and desires and build leadership qualities, bestowing the occasion to expand their professional connections while hastening the progress of their earned salary potential.
MBA offers an integrated approach to business education and a path to accomplish the desired objectives in commerce. Pursuing an extensive MBA degree Programme for two years from any renowned university can cost substantially, ranging between $10k to $50k.
However, Higher costs may remarkably increase for more esteemed colleges. Some of the world's top programmes potentially exceed $100k. Any students considering financial undertaking will consider the dormant Return on Investment(ROI).
The Average salary of an MBA Graduate in India is approximately INR 70k - 80k, while in other countries, it is approximately $80k-$90k, while in Canada, this figure falls around $70k.
MBA Course Overview
MBA stands for Master of Business Administration and is a broadly recognized postgraduate programme with a long history. In the Late 19th and 20th centuries, the MBA originated in the United States of America to meet the demands of a promptly industrialising economy.
The need for the first Business School arose with the complexities of expanding business, so the need for qualified professionals to manage them. The first Business School formed a new form of education that equips seekers with the knowledge and skills of the business world. Since then, the MBA become one of the most favourite postgraduation degree courses globally.
In the contemporary world, Thousands of students pursue an MBA course each year, which equips them with the skills required to conquer several domains, including Finance, Marketing, Operations, Human Resources, and analytics.
MBA opens the door to an ocean of opportunities in respective specialisations, including MBA Finance, MBA Pharma, MBA Digital Marketing, and many more. MBA arms students with a perfectly mixed education in business theory, practice, and application, preparing graduates to succeed in several fields and industries.
| Key Features | Details |
| Course | [MBA] Master of Business Administration |
| Degree | Master/ Post Graduate |
| Course types | Full-Time Regular MBA, Online MBA, Distance MBA, Part-Time MBA, and Executive MBA |
| Specialisations | Marketing, Finance, HR Management, Operations, Business Analytics, Consulting, Supply Chain Management, Energy, Entrepreneurship, Logistics Management, Healthcare Management, Hospital Management, Block Chain Management, and Technology |
| Average MBA Salary | India – INR 10,00,000 USA – $80k - 90k UK – £50k - 55k Canada – CAD 80k - 90k Australia – AU $60-$70k |
| Average MBA Fee at Top Business Schools | $90,687 – $230,636 |
| Popular Entrance Exams | GMAT, GRE, and CAT |
| India’s Top Business Schools | IIM Ahmedabad, IIM Bangalore, IIM Calcutta, ISB, IIM Lucknow, IIM Ghaziabad, SPJIMR Mumbai, XLRI Jamshedpur, |
| USA’s Top Business Schools | Harvard, Stanford, Columbia, MIT Sloan, Duke Fuqua, Cornell University-Johnson, Wharton School of Business, Michigan Ross, USC Marshall, UCLA Anderson, UT Austin McCombs, Carnegie Mellon Tepper, and UNC Kenan-Flagler |
| Euroope’s Top Business Schools | INSEAD, Cambridge Judge, London Business Schools, Oxford, HEC Paris, and IMD |
| Australia’s Top Business Schools | Monash Business School, Melbourne Business School, Australia Graduate School of Management, and MGSM Macquarie |
| Canada’s Top Business Schools | Schulich School of Business, Rotman School of Management, Ivy Business School, HEC Montreal, McGill Desautels, |
| M7 Business Schools | Harvard Business School, Chicago Booth, Columbia Business School, Kellogg School of Management, Wharton School of Business, MIT Sloan, and Stanford GSB. |
| Ivy League Schools – MBA | Harvard Business School, Wharton School of Business, Columbia Business School, Yale SoM, Johnson College of Business, and Dartmouth Tuck. |
What is the Admission Procedure for an MBA?
In order to get admission into top Business schools, it is indispensable to understand what the admission council is looking for. The evaluation of the admission committee is based on some critical eligibility criteria: interpersonal skills, intellectual aptitude ability, demonstrated leadership qualities, and overall personal.
Entrance Exams such as the GMAT, GRE, and CAT furnish awareness of an individual’s intellectual aptitude. Interpersonal abilities are demonstrated on the basis of their extracurricular activities and prior work experience. Leadership roles in some events and volunteerism in other initiatives prove an individual's leadership ability.
Factors Affecting Salary in MBA
Since MBA schools are very competitive and highly sought-after, many factors may influence the earning budding. These factors include industry sector, experience level, school reputation, and location.
Experience plays an important role when it comes to salary. A person with more experience is more likely to secure high-paying jobs and positions. MBA Specialisation also plays a role in an individual’s life; the entrance exam score also matters regarding salary. So, get good CAT and GMAT scores if you want top packages.
Location is also a factor on which salary matters, as salaries differentiate according to different locations. Lastly, the college or university's reputation from which individuals gained their degree also determines the salary packages.
Top Careers for MBA
| Careers | Average Salary |
| Financial Analyst | ₹40,000-60,000 |
| Personal Financial Advisor | ₹20,000-37,000 |
| Financial Manager | ₹35,000-40,000 |
| Training and Development Manager | ₹25,000-40,000 |
| Financial Service Manager | ₹20,000-60,000 |
Entrance Exams An individual need to gain admission to TOP MBA Colleges
Students must take Entrance Exams such as the Common Admission Test (CAT) or Graduate Management Admission Test (GMAT) to gain admission to top Business schools.
Though both entrance exams are designed to investigate an individual’s aptitude for some business areas, they might differ in content and structure. CAT focuses on verbal and logical ability, while GMAT centres on quantitative reasoning and verbal skills. In recent years, more MBA colleges have increasingly accepted the GRE (Graduate of Record Examination).
GMAT will be the best choice for an individual who is willing to pursue an MBA. However, the GRE will be the best if one is unsure about whether an MBA is the right choice for their career.
Specialization in Online MBA
Also Read: Why should pursue Dual degree programs?
