What is MBA/PGDM?
MBA is the common abbreviation used for Masters of Business Administration. This course is pursued after graduation and is usually conducted over a span of two years. PGDM is Post Graduate Diploma in Management. Practically there is no difference between MBA and PGDM. What matters more is the ranking of institute.
However, executive MBA as a career choice is also available which lasts for a year, known as Executive MBA. MBA is one of the most common career choices amongst the youth in India today. This is purely because of the PLACEMENTS that the course offers. An MBA/PGDM can definitely help individuals who want to move up in their respective careers. Management is important in every sector and every endevour of life.
What are the institutes that offer MBA?
With the growing needs of the industry for world class managers, the institutes offering MBAs has also gone up in the last few years. There are over thousand recognized institutes offering MBA in India. However the Indian Institute of Management, IIMs, as they are commonly referred to as is the crème de la crème of all the institutes offering MBA in India.
What are different specializations in MBA?
Most of the B-schools in India offer specialization like finance, human resources, marketing, operation etc. However, niche MBAs like MBA in communication, hotel management, fashion technology etc are also available.
- Sales & Marketing
- Production Management
- Human Resources
- Super Specialisations like Retail Management and Event Management etc
How much salary one can expect after MBA
MBA salary in these B schools purely depends on the credibility and the goodwill of the institute. For e.g. students from IIMs receive the best salary packages across the country. Institutes like XLRI Jamshedpur, FMS Delhi and S P Jain, Mumbai are also well known. One can extensively search the internet for loads of information available on different MBA colleges in India. Thanks to globalization and liberalization, education in India especially MBA is gaining great momentum. Usually it varies from 10 to 20 laks average per annum depending upon the institute ranking. For latest ranking one can visit web.
What is the significance of MBA in today’s World?
There is tremendous significance of MBA in today’s world. With increasing business and communication due to globalization, liberalization and privatization, more and more companies sought after world class equipped knowledgeable managers that have full hands on experience before they enter an organization. This is purely because companies do not want to waste their time training individuals. They want managers who can contribute to the organization directly from day one. An MBA program offers all these benefits and hence it deserves its due importance.
What happens during MBA?
An MBA involves many hands on project experiences, assignments, internships etc. Due to this a student is fully equipped with all the necessary skills that a manager should possess. This helps one to become an expert in one own field and can help him to become a leader.
It is purely due to this significance that more and more B-schools are offering varied kinds of MBA with different electives and specializations! During an MBA one also makes in depth reports and presentations which involves a lot of research and analysis. This encourages the student into chalking out new strategies and idea generation. With such expertise growth after MBA is not just destiny but a successful road that you made for yourself!
What is growth after MBA?
There is tremendous growth after MBA. Since an MBA equips you with so many skill sets and abilities that one becomes a pro at managing and organizing activities in an organization. They actually teach you time management and multi-tasking skills that make your career growth graph worth a watch! Your communication and negotiation techniques are fully honed and thus most companies are readily to pay high salary packages to deserving MBA students.
However, what is important to note is that your growth not just depends in your capabilities and talents but also on the institute you pass out from. In India, most of the students from IIMs receive heavy salary packages not just because of deserving students built also because of the name, goodwill and the credibility that the institute has built over the passing years.
What is life in a B school?
MBA indeed sounds like quite an exciting and rewarding career. This is especially true in case of the residential B-schools. For most, life at a B-school is full of hard work, fun, excitement and sleep deprived!
Most of the students learn the true meaning of time management and multi-tasking. Communication and negotiation skills are also honed to their best. One is constantly bombarded with information. Projects, assignments, discussions, seminars, reports, analysis, research papers, surprise quizzes etc is all a part of the exciting game of MBA. It prepares you for all the challenges that the industry throws upon you. As an MBA entry level student, life at a B-school can also be quite fun as all the students are collectively putting in their best to impart themselves with knowledge.
The environment at most of the B-schools is quite healthy. There is constantly something on your toes. Students at B-school are always up their sleeve to perform and excel in all that they do. Majority of the people who have done their MBA from residential B-schools claim that they had the best of their times at the campus they lived in!
What are various entrance exams for MBA/PGDM?
FMS (now through CAT)
JMET (now through CAT)
To get into Good B school one has to go through a selection process which includes most OR all of the following :
1. Written Test
2. Group Discussion
3. Personal Interview
4. Essay Writing
5. Psychometric Test
6. Group Task
7. Management Games
What comes in written exams
The written exam tests the aptitude of the candidate in a number of areas. As per latest 2014 pattern, There are 2 sections with 50 questions each and 170 min separately for both the sections.
It usually consists of questions related to:
1. Quantitative Ability
(Questions in Mathematics mostly from 8-9-10 standard, covering Arithmetic, Geometry, Menstruation, Algebra, Trigonometry and Co-ordinate Geometry) 30-35 questions.
2. Verbal Section
(Questions in the area cover Grammar, Sentence Correction, Vocabulary, Reading Comprehension & Verbal Analogies) 30-35 questions.
3. Data Interpretation / Data Sufficiency
(Analysis of Data. Usually data is in form of tables, charts, graphs. Students are required to study them and answer the related questions) 15-20 question.
4. Logical Reasoning / Ability
(Questions to be solved using Common Logic) 15-20 question.