View Point


The Changing Scenario of Management Education in India
Prof. C. S. Venkataratnam, Member, FICCI Higher Education Committee & Director, IMI, New Delhi
&
Ms Shobha Mishra,
Joint Director & Team Leader, Education & Health Services Division, FICCI
AcademiaArticle: Towards a successful career
path: MBA in Retail Management
Article: Art & ManagementPersonality Development Current AffairsCampus NewsGD Topics

RACE FOR MBA: ARE YOU READY?

by Neha Sardana

Ask an MBA graduate what made them opt to get this degree. The most common answer you are likely to get for this is 'I thought this will open up more career options'. On the other hand, you will also find people admitting that they got the degree in the hope of getting a good salary. There is yet another group of people who have genuine love for the subject, so they try to get an MBA degree. In the end you will find that many people do opt for MBA degrees as they feel that it is their ticket to earn more.

Studies have indicated that in present days, an increasing number of people are choosing to pursue a degree in MBA. The course helps them not only to know the nuances of business, sales and marketing, but also helps them develop the skills that they have. Apart from this, there are several other things that they will be exposed to during the course, and it will help them to know and learn about new things. There are several sectors in which professionals having an MBA degree can get a job. So, this means that you can always land up with that dream job in the field of your preference.

Career options for MBA Graduates

Many MBA graduates look for a career option in the field of banking. Think beyond the obvious when it comes to career choice for an MBA gradate, and you are sure to find some interesting ones. If you are interested in having a socially responsible career, you can opt to work for NGOs and international organizations who work in this sector. There are some interesting options available in the government sector as well. It goes without saying that the pay packet will not be as good as the salary one gets in private organizations. But, if you are looking to work to serve people via the government departments, this is just perfect for you.

Insurance is a very popular sector for MBA graduates who are looking for a job after completing their course. To be successful in this field, you need to have good skills for managing relationships and also for sales. Investment banking is another avenue for MBA graduates who are seeking a job. The two aspects under this are mergers & acquisitions and corporate finance. A candidate will require different types of skill set for these jobs, depending on the company they are working for.

Other career options for MBA graduates include - Commercial Banking Careers, Money Management, Financial Planning and Real Estate, etc. Every sector requires professionals to advertise and sell their goods and services. In this age of technology, traditional marketing methods alone will not do. So, if you have an MBA degree and can come up with innovative as well as effective method of marketing, you can have a great career in marketing.

MBA entrance exams

Students in India who are looking to get admission to any of the business schools in India have to sit for entrance exams. CAT or Common Admission Test is the entrance exam that they need to appear for admission to any of the Indian Institutes of Management (IIMs). It is regarded as one of the toughest entrance exams, and every year thousands of students appear for this exam all over the country. This entrance exam tests the applicant's knowledge on logical reasoning, geometry, mathematics, English language and data interpretation among others. XAT and GMAT are a couple of other MBA entrance exams.

The entrance test for MBA is very competitive and students prepare for months to clear this successfully. There are coaching centers, which have been specially set up to help students clear, the exams successfully. Admission to MBA courses are most sought after in India, so there is huge competition for this.

MBA Institutes

Several MBA institutes have come up in India, given the craze for students to get an MBA degree. However, getting admission to one of the prestigious business school is what all students look for. The Indian Institute of Management located in various parts of the country is the premier MBA institution in the country. Listed here are some of the MBA institutes:

• Symbiosis, Pune
• Indian Institute of Management, Indore
• Indian Institute of Management, Calcutta
• Indian Institute of Management, Kozhikode
• Indian Institute of Management, Bangalore
• Indian Institute of Foreign Trade, New Delhi
• Indian Institute of Management, Ahmedabad
• Xavier Labour Relations Institute, Jamshedpur
• Jamnalal Bajaj Institute of Management Studies, Mumbai

So, are you all set to join the race for MBA? If your answer is still no, then maybe you should start preparing now.