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All about MBA Course: Overview, Eligibility, Duration and Fee structure in India



All about MBA Course: Overview, Eligibility, Duration and Fee structure

In India, the first institute to offer an MBA degree is the Indian Institute of Social Welfare & Business Management, Kolkata, established in 1953. Although among all the institutes offering the degree presently, XLRI, Jamshedpur is the oldest to exist. However, XLRI did not have an MBA course in their curriculum since its inception in 1949. IISWBM happens to be the torchbearer in that front. Later on, IIM-C and IIM-A were set up in the year 1961. 

At present, there are hundreds of B-schools all over India providing all types of MBA courses to the aspirants. Some of the topmost in the country, like SVKM’s NMIMS, are also among the best MBA colleges in Mumbai

In this article, further details about the duration, course fees, eligibility criteria, admission, entrance tests, specializations, syllabus and professional scope of MBA course are discussed. 

Duration of MBA Course

MBA is a two-year professional course, divided into four semesters – two semesters in each year. Executive MBA degrees, which are pursued by working professionals who wish to further sharpen their skills in their specialized field of work and get a higher degree in the same, are usually of one year. In some cases, like part-time MBA courses, it can go on for 4-5 years, depending on the institution offering the course. 

Course Fees of MBA Course

Course fees for MBA colleges vary across the whole country. In the more affordable range, fees can be anything between INR 60,000 to INR 15 lakhs. For the crème-de-la-crème institutes like the top IIMs, XLRI, NMIMS, FMS, and the likes are around 16 lakhs to 25 lakhs approximately. 

The range for Executive MBA courses is more diverse. Depending on specialization and course details, it can range anywhere between 5 lakhs to 30 lakhs or so. 

Eligibility Criteria for MBA Course

Any graduate in any stream – B.Com, B.A., B.Sc., BCA, BBA, BBM, B.Tech et cetera – is eligible to sit for the entrance examination, as long as they have passed their bachelor degree with a minimum aggregate of 50% marks. 

Admission for MBA Course

Each institute has its own admission cut-off for their respective MBA courses. Most of the reputed business institutions of India consider CAT (Common Admission Test) score to decide their merit list for the year. 

Some of the more elite colleges and universities might conduct their own written test, followed up by personal interview and group discussion events. The written test usually covers the same aspects as the entrance tests – logical reasoning, general knowledge, business awareness, quantitative and language prowess and so on, while the GD/PI session is to determine the candidate’s personality and temperament. 

But in general, most B-schools simply keep a cut-off on the common entrance tests and take admission based on that.

Entrance Tests for MBA Course

Most of the following MBA entrance exams have more or less the same syllabus, with additions and deductions here and there. Concepts like quantitative ability, writing, data interpretation, and logical reasoning are in common. Here are the highly regarded entrance examinations to get admission into a B-school for MBA course. 

  • CAT (Common Admission Test) conducted by IIM and preferred by most B-schools, including IIM.
  • XAT (Xavier Aptitude Test) conducted by Xavier School of Management and second-most preferred by B-schools.
  • GMAT (Graduate Management Aptitude Test) conducted by Graduate Management Admission Council (GMAC).
  • CMAT (Common Management Admission Test) conducted by AICTE.
  • MAT (Management Aptitude Test) conducted by AIMA.
  • NMAT (NMIMS Management Aptitude Test) conducted by GMAC. 
  • IIFT (Indian Institute of Foreign Trade conducted by IIFT.
  • SNAP (Symbiosis National Aptitude Test) conducted by Symbiosis.

Specializations of the MBA Course

There is a whole list of core subjects from A to Z in which a candidate can do MBA course. some of the more prominent specializations of the course are:

  • Finance
  • Accounting
  • Organizational
  • Operations and Logistics
  • Information Technology
  • Sales
  • Marketing 
  • Advertisement and PR
  • Systems
  • Banking and Insurance
  • International Trade and Business
  • Human Resource
  • Retail
  • Supply Chain and Logistics
  • Hotel and Hospitality
  • Healthcare
  • Sports
  • Event
  • Mass Media and Communication
  • Agriculture

Subjects and course structure of MBA Course

The two years of the course are divided into four semesters. Although the syllabus in each of them varies slightly from one institution to another, the basics remain the same as stated by AICTE. The first two semesters have all compulsory papers like Principles of Management, Managerial Economics, Business Communication and Information Systems in the first semester and Human Resource Management, Organizational Behaviour, Financial Management, Marketing Management, Operations and Cost Accounting in the second semester. 

Semester three and four usually have quite a few elective papers which the students can choose on their own from the options. Other than that there are compulsory papers like Strategic Management in the third and Business Ethics, Corporate Governance and Entrepreneurship Development in the fourth. One also has to complete projects, assignments and a compulsory internship in the final year of MBA. 

Career Prospects

MBA courses make way for a large number of fresher recruitment every year, and a bulk of it comes from campus placements at the best MBA colleges in India. Industries across the business spectrum come together at the end of every academic year to pick up the best of entrepreneurial minds from the top grade B-schools of the country. 

Following are some of the best industries for the candidates to get placed at after completing their 2-year MBA course at an Indian institute.

  • FMCG sector 
  • Banking, Finance, and Insurance
  • Business Consultation Services
  • E-Commerce 
  • Data Analytics
  • Marketing
  • Human Resource
  • Retail 
  • Information Technology
  • Finance and Accounting Firms
  • Healthcare and Pharmaceuticals
  • Hospitality and Tourism 

Pay Package as an MBA Graduate

The pay package one can earn after completion of their MBA course depends on the institute they are from and of course on the personal skills and abilities of the candidate. As a fresh MBA graduate, one can expect an initial salary of 15 lakhs to 22 lakhs per annum from the topmost colleges in the country.