Why MBA is popular in India?

MBA, i.e, Master’s in Business Administration, is a 2 year postgraduate course that is pursued by lakhs of graduate students in India every year. An MBA is a course that opens up doors to managerial and senior level positions in any corporation. Most corporates prefer hiring MBA graduates with good salary packages, which is why this is one of the most popular courses in India. 

Once a student completes an MBA, the value of his or her CV rises exponentially and they can work in multiple sectors such as FMCG, banking, insurance, international business, healthcare, retail and IT. An MBA program offers multiple specialisations to the students to choose from which adds to its popularity in India. 

Eligibility Criteria 

To be eligible to get admission in an MBA program, the following eligibility criteria must be met-

1. First of all, a student needs to be a graduate. It doesn’t matter which stream or which particular course you have pursued at the Bachelor’s level 
2. Secondly, appearing in competitive exams like CAT/MAT/XAT and obtaining a desirable percentile is required.
3. Institutes in India conduct their own group discussions (GD) and personal interviews (PI) at their own level.
4. The overall selection criteria depend on the additional factors such as work experience and previous academic performance.
5. After considering the total of all these factors, a final merit list is prepared according to the seat matrix.

MBA Admission Process 

Follow the step by step admission process guide here-

1. Register yourself for entrance exams like CAT/MAT/XAT. The forms are opened up for the same in the month of August every year.
2. The exam is conducted in the month of November and the results are declared by January.
3. Once you are ready with your percentiles, colleges like IIMs and other management institutes open up their application forms.
4. You need to apply separately to each institute which is on your target list by paying their respective application fees.
5. Fill the detailed application form carefully because it is considered to give a call for the selection 
6. A group discussion and personal interview is conducted either online or offline depending upon the discretion of the institute
7. A final merit list is prepared and displayed on the website of the college. 

Top MBA Colleges in India 

The following are the top MBA colleges in India-

1. Indian Institute of Management, Ahmedabad- IIM Ahmedabad has continuously scored first rank by NIRF rankings with placement packages going above Rupees 30 lakhs per annum. 
2. Indian Institute of Management, Bangalore- IIM Bangalore, located in Karnataka, has been scoring rank 2 by NIRF rankings for so many years now with placement packages of around 30 lakhs per annum. 
3. Indian Institute of Management, Calcutta- IIM Calcutta was ranked 5th position by NIRF 2024 Management rankings. The average placement package is around 25 lakhs per annum. 
4. Indian School of Business- ISB is a private Institution but famous for Executive MBA. 
5. SP Jain Institute of Management and Research– Though SP Jain is a private institute but it attracts the best talent across India. 
6. Faculty of Management Studies, Delhi- FMS, Delhi University, located in the North Campus, is considered the most affordable MBA college in India with the greatest ROI. 
7. Department of Management Studies, IIT Delhi- A student admitted to IIT Delhi gets the brand value of IIT and it has been ranked fourth by NIRF 2024 rankings
8. XLRI, Jamshedpur- XLRI, has been ranked at the ninth position by NIRF 2024, Management rankings. It is considered the top institute for pursuing human resource management specialisation.

MBA Specializations 

1. Finance- The most popular and opted specialisation opted by students seeking to build a career in investment banking, financial analyst and fintech
2. Human Resource Management- An HR manager is crucial for any organisation to hire the right talent. 
3. Marketing- with specialisation in marketing one can become a digital marketing strategist or Business Development Manager like roles. 
4. International Business- With specialisation in IB, one can work as export export-import manager or global supply chain manager. 
5. Business Analytics- The demand for business analysts is quite high in the industry. Hence, it is an attractive specialisation.

Career Opportunities after MBA.

An MBA graduate can work in multiple industries because of the huge scope of career opportunities after an MBA. Some of them are listed below- 

1. Corporate job- An MBA graduate can easily get an average package of 7 to 8 lakhs per annum and go up to 30 lakhs while working in fields related to their area of specialisation in top MNCs such as EY, KPMG, Deloitte and PwC.
2. Public sector opportunities- Many PSUs hire managers at middle and top level positions with good salary packages.
3. Entrepreneur – If you wish to start your own business, earning an MBA degree can add multiple values to your venture
4. Research and teaching- Pursuing a PhD in management along with teaching as a professor after clearing UGC NET, is an attractive job opportunity after an MBA.

MBA Fees in India (range with govt vs private).

Government- Government institutions like the Indian Institute of Management charge fees ranging from 20 to 25 lakhs for the full course. Whereas the fees for an MBA at FMS Delhi are in 2 to 5 lakhs.

Private Institutions- The average fees for an MBA in India in private colleges are around 2 to 5 lakhs per annum.

FAQs: Common questions about MBA admission.

Q: What is the average salary package after MBA?
Ans: One can easily get a package starting from 6 lakhs per after MBA in top companies of India with highest packages going up to ₹30 lakhs per annum, depending upon the institute you graduate from with the MBA degree. 

Q: What is the average fee charged by IIM in India for MBA? 
Ans: The Average fee charged by top IIM’s in India is around 20 to 25 lakhs for the full course. However, this total fee includes the hostel and charges for the whole duration of the course.

Q: Can I get admission in IIM without CAT or similar entrance exams?
Ans: No, it is not possible to get admitted to a top IIM in India without appearing in entrance exams like CAT. The percentile obtained in such entrance exams is the necessary condition to get shortlisted for the further admission process.