Did you know that apart from being the world’s second-most populous country, India is the world’s largest provider of management education?
When you are looking at MBA courses in India, the choices can make the process overwhelming. Starting from the type of the program to short listing the best MBA courses, it takes a lot of effort. However, if you can structure your process and knock out the options that don’t fit your needs, life can become a little easy.
First thing first, you should know the types of MBA courses available.
MBA courses can come in a wider variety of formats:
Most of the universities offer a two-year full-time MBA program. For those who wish to complete their MBA within a year and get back into the job-market, many universities also offer a one-year MBA program. The living cost incurred for a one-year course would also be lower than a two-year MBA program.
Round 1: 01st Jun – 31st August 2016 | Round 2: 01st Sept – 05th December 2016
The MBA subjects list will look very similar, with finance, marketing, operations management, economics, human resource management and strategy forming the core subjects. These core subjects are covered in the first year (in a 2-year MBA). This is by design, as these MBA subjects allow students to create a good foundation of business topics.
The second half allows students to choose an MBA specialization via electives. The number and nature of electives can vary across MBA courses in India. In many cases, new subjects are added to the MBA syllabus based on the demand of the market and economy.
The pre-requisites for applying to the program are:
- Graduate in any discipline with a minimum of 50% marks or equivalent CGPA
- 4-12 years full-time work experience (as on March 31, 2017)
- A valid GMAT or GRE score
A part-time MBA suits the needs of working professionals who can complete the course on a part-time basis while still being employed. Though this would mean extended duration of the course, the income stream would continue throughout without having to take a break from work.
A 2 step selection process (starting October every year)
- Common Entrance Test (MH-CET)
- Group Discussion (GD)
The program is generally completed in seven terms of approximately 14 weeks duration each spread over two years.
The first year of the program will be common to participants of all specializations. The program will offer electives in the second year. The electives leading to functional specialization will be available in the area of Marketing, Finance, Human Resources Management, Information Systems, and Operations Management.
- Passed in any full time Bachelor’s degree of minimum three years duration in any discipline recognized by the Association of Indian Universities
- Passed Graduate Examination in Industrial Engineering, Mumbai and who have subsequently qualified in the GATE examination conducted by IITs
- Have a minimum of 2 years of experience (supervisor or executive level). The experience should be full time experience and NOT include internships, projects, etc.
Executive MBA (EMBA)
This is aimed for the experienced professionals from various fields who wish to sharpen their managerial abilities, expand their career potential, gain leadership qualities and acquire international management experience in a multi-cultural environment. Most of these programs have a flexible schedule and are designed to suit working professionals.
Round 1: 01st Jun – 31st August 2016 | Round 2: 01st Sept – 05th December 2016
Executive MBA is a two years program and the 24 months program consists of 4 semesters, each of six months duration. Each semester has five courses. Six functional specializations [Marketing, Finance, Human Resource Management (HRM), Operations Management, Systems Management and International Business Management (IBM)] are being offered in the second year. Each student will opt for one specialization.
- You must already be a university graduate to apply. Relevant postgraduate qualifications like Chartered Accountants for the Finance stream are given preference.
- 5+ years of work experience
- Candidates opting for EMBA (Mumbai) must have a minimum of five years of full-time work experience to apply for this program.
- Candidates will be assessed for their suitability to the program based on their overall profile like educational qualifications and academic record, work experience, professional achievements, a test score and a personal interview.
Distance learning MBA
This is a means of obtaining an MBA without actually having to attend the program on the campus. This could be done through various correspondence courses, online course material, and discussions, teleconferencing and video conferencing.
Since it is a distance learning course, you are requested to fill up a form online from the Institute you wish to apply to know the dates of the course.
The first 2 semester of the program focuses on core subjects and in the second year of the program students has to choose 2 electives from different specialization areas like: Human Resource, Finance, Marketing, Operations, Customer Relationship Management (CRM) and Management Accounting. Students also have an option of dual specialization as well. These subjects taught by experienced academicians of the industry.
- A Graduate Degree (in any discipline) from any Govt. recognized university.
- For International/SAARC students a Graduate Degree from any recognized/accredited University/Institution.
Note: Those Students who are appearing in final year of their graduation examination can also apply.
Categories under International Students Admissions:
Foreign National (FN) A student is eligible to apply as a Foreign National (FN) if he/she holds a foreign passport
Person of Indian Origin (PIO) A student is eligible to apply as a Person of Indian Origin (PIO) if he/she has a PIO card, and is a citizen of a country other than India.
Non Resident Indian (NRI)
- At the Undergraduate Level: A student is eligible to apply as a Non Resident Indian (NRI) if he/she has appeared either for the 10 or 10+2 (equivalent to the Indian 10th & 12th) examination outside India.
- *It is mandatory for the Student who falls in the NRI Category and has appeared for 12th in India to appear for an entrance test (The relevant test detail will be updated soon).
- At the Postgraduate Level: A student is eligible to apply as a Non Resident Indian (NRI) if he/she has appeared either for the 10+2 examination (equivalent to the Indian 12th) or Graduation outside India. It is mandatory for one of the two qualifying examinations to be given outside India.
- *It is mandatory for Postgraduate Students, who fall in the NRI Category and have appeared for their graduation in India, to appear for the University exam (The relevant test detail will be updated soon).
MBA cost in India
The educational scenario in India has changed dramatically over the last decade. Several Indian institutions offer an international standard of education, many in collaboration with international universities, allowing MBA students to earn a high quality education.
Cost: An MBA abroad may cost anywhere from INR 20-50 lakh (to USD equivalent), whereas an Indian MBA will cost somewhere between INR 7.5-25 lakh (to USD equivalent).
Living expenses: Studying abroad may increase your living expenses and you may end up working abroad for a few years to recover the cost and your ROI target.
Job placement: Top schools in India have an excellent job placement record with top Indian, Asian, and global firms.
Entrance Exam for MBA
To get admissions into the top management institute to hunt MBA degree, you have to take up MBA entrance examinations that are conducted all over the nation.
Eligibility for MBA Entrance Exams 2015-2016:
-A Bachelor’s degree under 10 + 2 + 3 scheme from a renowned academy or a deemed university with at least 50% combined marks (45% for reserved groups)
– Applicants in bachelor’s degree appearing for final year examination are also qualified for MBA
Various common national level tests to get into the finest B-Schools of India are:
CAT: All IIMs’ and 100+ more institutes.
XAT: XLRI Jamshedpur, XIM Bhubaneswar, S. P. Jain, GIM etc.
SNAP: Institutes affiliated with Symbiosis University
MH-CET: Colleges in Maharashtra
CMAT: All India Council of Technical Education (AICTE)
Best Institutes for a MBA Program
Once you’ve decided on the type / duration / location of the MBA course, you’ll have to prepare a strategy to tackle the MBA application.