An MBA degree, or Master of Business Administration, has been a very hot topic since last decade. Is this just a trend or is there any real value in pursuing MBA? It is an expensive course and has many requirements to get into, so why should you opt for an MBA? Graduates of an MBA, due to their qualification and knowledge, have higher chances of obtaining and holding a high level management position in any organization. It is found that 75 to 80% of the MBA graduates worldwide are working as senior managers or at a position of higher management.
Admissions to MBA courses in India usually done through various entrance tests conducted at national and state level. Every year around 1 lakh candidates appear for these entrance tests to pursue an MBA degree. Some most popular exams are CAT, MAT and XAT. MAT 2016 registration for September month had started from July 1 and for December month it is expected to start in October.
Why pursue an MBA?
The usual reasons for doing an MBA from most of us are: it earns us more money, gives a promotion in our jobs or it helps some of us to quit a job that sucks. But pursuing MBA is a lot more than this. So if you are wondering why pursue an MBA, you must take a more cognitive view. It helps in launching a progressive career, to make a shift in career. If you already are an experienced professional, then it’s the ladder to the top management positions. It adds a brand value to you by enhancing the personal growth. Moreover if you are planning to do a start-up, an MBA would be surely a great help.
Gateways to pursue an MBA
There are many entrance exams in India conducted for admissions to various B schools. The most popular exams are CAT, MAT, CMAT, and XAT etc. Among all these exams MAT is considered higher yielding exams as it comparatively easy on difficulty level and conducted four times in a year. MAT registration opens one month prior the test.
MAT is taken by more than 50000 candidates each year to seek admissions into around 320 management colleges in India. MAT registration can be done in both online and offline modes. There are 200 multiple choice questions to be solved in 2 hours and 30 minutes from 5 sections in any of the pen paper and computer based mode. The participating institutes of MAT shortlist candidates on basis of their cutoff for the selection procedure that includes GD/WAT and PI rounds.
Choosing a Right B school is very important!
How to get into a good B school is always a dilemma for an average MBA aspirant, after appearing in entrance tests. While choosing B school, do not fall in trap of shallow parameters like location, campus size etc. Rather you should focus on things that have the most significant role such as- Which institute is the best in terms of placements? What course you want to specialize in and which institute is good at it? How good is teaching methodology and faculty? How much does the course cost? Thus, a right b school is the main aspect of better career options after MBA, so choose wisely. Because wrong choices always lead to regretting for spending money and two precious years in some institute which will do no good in your career growth.
So, whether you wish to further your current career by advancing in a leadership position, or you want to pursue a new career, or want to be a successful entrepreneur, an MBA is definitely going to boost your chances of achieving these goals. Whether you are a fresh graduate or an experienced professional, choosing your career becomes easy with an MBA degree.
Now, let’s take a more specific view of the Career Opportunities after an MBA!
- Banking & Finance:Banks, security firms, insurance companies, and various financial organizations, require a professional to make the right choices about investments. So jobs in this sector are the most lucrative ones. Companies such as Goldman Sachs, J.P. Morgan, Nomura, RBS, Barclays and banks like ICICI Bank, Yes Bank, Kotak Bank, Axis Bank, HDFC Bank and RBL etc hire MBA graduates for different roles.
- Sales and Marketing: This is perhaps the most coveted area for MBA graduates. Every company’s growth depends on this particular area and to run the business smoothly and driving the sales, the companies need a person withy business expertise. MBA in Marketing can lead you to positions with handsome pay packages such as Project Manager, Sales Manager, Marketing Manager, Brand Manager, and Market Research Analyst etc.
- Information Technology:Information Technology (IT) or Management Information Systems is also one of the most important MBA specializations. For those who have IT background, MBA IT can open up positions like System Analyst, Technical Systems Manager, Technical Consultant, and Business Development Manager. Chief Information Officer (CIO) and Chief Technology Officer (CTO) are the best positions that can be achieved after MBA.
- Investment Banking:This is a job is very much in trend because of higher success rate and handsome salary package. Companies that hire for this area include SBI Capital Markets & Bank of America Continuum among many others.
- Management Consulting:If you are a problem solver, this is the job for you. A management consultant solves organizational issues, and embraces new ideas and methods of problem-solving. Firms that hire for such roles include Cognizant, KPMG, PwC, Infosys Management Consulting, Deloitte & many more.
- Entrepreneurship:An MBA increases your ability to be an entrepreneur. MBA degree enhances your skills to understand the business strategies and this expertise helps in your own business too.