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MBA - A Lucrative Career Choice

 
By : Guest on 18 January 2019 E-mail Comments     Print Print  Report Abuse
 



Introduction

 

The Master of Business Administration or MBA is the pursuit of the innovative and traditional business methodology developed through teamwork and self-discipline. 

 

Furthermore, the core courses in an MBA cover various areas of business such as accounting, business communication, finance, economics, management, entrepreneurship, marketing, etc.

 

Management and Commerce

 

To begin with, the introduction of Foreign Direct Investment (FDI) in India led to a rise in the pursuance of MBA. The MBA program is providing a student with the vision to study the business and understand its every aspect.

               

Common Aptitude Test (CAT) is the exam which is considered as the criteria for admission by the B-Schools in India. Here, to study in some of the best B-Schools of India, the aspirants have to burn their midnight oil to clear CAT with flying colors.

 

Surprisingly, the B-Schools of India is becoming supportive of the Entrepreneur practice and development. Moreover, the curriculum of Indian management schools is being updated with the latest case studies and management subjects. In addition, the whole education framework is being modified to accommodate the concept of entrepreneurship.

 

In the current date, some of the MBA Colleges in India are:

 

  1. Indian Institute of Management, Ahmedabad
  2. Indian Institute of Management, Bangalore
  3. Xavier School of Management (XLRI), Jamshedpur
  4. Indian Institute of Management, Calcutta
  5. Faculty of Management Studies, New Delhi
  6. Management Development Institute, Gurgaon
  7. National Institute of Industrial Engineering, Mumbai
  8. SP Jain Institute of Management & Research (SPIJMR), Mumbai

 

In particular, to take the admission into an IIM, the candidates require a percentile of the order of 99% or above.

 

Career Prospects

 

The career prospects for an MBA student are unlimited in terms of opportunities and scope. A person can be an HR, Head in departments like operations, marketing, sales, supply chain and much more.

 

Most common jobs after an MBA degree are as follows -

 

  1. Product and Brand Managers - A Brand Manager’s responsibilities include coordinating and overlook a variety of divisions of a corporation to ensure the efficient and timely flow of a product to the market.
  2. Investment Banking - MBA in Finance graduates are prone to this area of banking because it is a low risk and highly rewarding sector which recommend companies to invest onto shares, bonds, portfolios etc.
  3. Media & Entertainment - People those who are interested in digital marketing can enjoy their positions in these industries as they are evergreen zones which flourish at all times in a year.
  4. Real Estate - Similarly, Real estate is another area where MBAs find their position as they manage to buy, selling and financing the property.
  5. Management Consultancy - In this, you can get highly demanding as well as rewarding job, a person will be expected to formulate original and realistic solutions to meet business needs. They are expected to have strong analytical and interpersonal skills.

 

Benefits of MBA 

 

1.  Develop Management Skills:

 

MBAs and its specializations will teach you a lot about everything. You will learn how to: 

 

  1. Manufacture, advertise and sell your products;
  2. Keeping the company's finances healthy;
  3. Gather and interpret industry data;
  4. Hire the people with right set of skills and keep them motivated;
  5. Making tough calls in dire situations. 

 

2.  Access to a Large Business Network:

 

As an MBA student, you can have great networking opportunities. You can interact with colleagues, professors, and teaching staff. And this context will emphasize your business management capabilities. 

 

 3.  Higher salary:

 

The average salary of an MBA graduate is much higher than an employee's with a regular Master's. Hence, you can expect to earn twice as you would expect from a regular university degree.

 

4.  Start Your Own Company:

 

  1. Many students choose MBA because they want to become entrepreneurs and learn how to run a business.
  2. An MBA can help you to acquire business practices that are required to start a new business or help to grow the existing ones.

 

5.  Open the door to Growing Career Opportunities:

 

Over 50% of MBA graduates are senior managers or board directors. For this reason, these positions can bring you a higher salary, but also greater responsibilities.

 

6.  Networking Opportunity:

 

  1. During the MBA course, internship, or job, an MBA graduate gets an immense opportunity to interact and communicate with business professionals.
  2. The typical job of a manager involves business meetings, business travels, and communication, which offer an opportunity to strengthen your network.

 

7. Foreign Exposure:

 

  1. MBA graduates enjoy fruitful job placements across the world.
  2. National and multinational companies always look for fresh and experienced MBA's.

 

Best Time to do the MBA:

 

  1. As far as MBA  is concerned as a career option, it's lucrative only when you have a minimum three or four years of job experience and then you do MBA in the concerned field.
  2. When you start moving into a managerial position that is the perfect time to do MBA, since you get to know various business aspects which are related to your work like profitability, demand, and supply, marketing aspects etc. 

 

Conclusion:

 

As a result, I want to conclude that in today's scenario if you want to make your career in business management then MBA is the best option for you as it teaches you the management skills. With this degree, an individual can get the promotions easily that too with high salary.

 

In fact, this course teaches the students about business management also and how to run a company. Thus, MBA graduates can start their own business after completing the course.

 

Lastly, as India has a huge population base, India is considered an exciting business prospect throughout the world. Therefore, this can help us to lead the world again.

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