An MBA degree gives you leverage over your competitors in today’s professional world. MBA is the most sought-after career option that students choose after graduation. A Master of Business Administration (MBA) imparts you with the necessary management skills and knowledge to run an organization. It opens the door to executive-level positions at reputed organizations.
There are numerous types of MBA programs available at business schools. Students or young working professionals can learn MBAs according to their time availability and learning mode. Executive MBA is a popular management program among professionals, allowing them to learn and earn simultaneously.
This article will discuss the types of MBA programs, the career scope after getting an MBA degree, eligibility criteria, the best MBA programs for working professionals, and why you should choose an MBA program while working.
Types of MBA
Below are the types of MBA programs offered by business schools:
It’s the most common MBA program offered by almost all the reputed business schools in India. Indian Institute of Management (IIM) and reputed B-schools in India offer MBA/PGDM programs. Since it’s a full-time course, you must attend on-campus classes and follow the offline curriculum pattern to complete the course and get the degree.
A two-year full-time MBA program has several benefits, such as extended learning opportunities, practical experience, live projects, and in-depth offline classes to learn complex concepts. Most students, after graduation, prefer this type of MBA program. However, this is different from the MBA programs for working professionals because the student must attend full-time offline classes to get the degree.
(Note: Private B-schools only offer PGDM- equivalent to MBA in India)
The one-year full-time MBA program is similar to a two-year full-time MBA program, but the courses are delivered at a faster pace. Thus, making it suitable for professionals who want to learn full-time and get an MBA degree quickly. A one-year MBA program accelerates the career path of professionals and helps them grow in their existing fields.
A part-time MBA program is the best option if you are occupied with your job and have a short time to attend full-time classes. The part-time course allows you to attend classes at your convenient time. Alternatively, you can join weekend or evening classes and complete your program.
Online MBA programs are popular nowadays, which allows students to complete their MBA programs from the comfort of their homes. Online MBA programs have allowed students to pursue MBA programs from reputed global universities. There is a compromise on the quality of the content taught in online MBA programs; it’s just the alternative to offline full-time classes.
Executive MBA programs are specifically designed for working professionals who want to grow their careers and boost their CVs. Because this program is specially designed for working professionals, it is mandatory to have work experience to enrol in executive MBA programs. Executive MBAs allow you to continue your job while learning and implementing the knowledge and skills you gain in the course to the job.
When To Apply For Admission To MBA Program
You can apply for admission to MBA programs after graduating with good grades. The admission forms for the MBA program start every year from November to December. You need to shortlist the colleges and universities based on the courses they offer, fee structure, teaching faculty, and placement record. Considering these factors will help you find the best MBA colleges to study MBA programs.
Eligibility Requirements For an MBA
Here are the entry requirements for MBA programs at top business schools in India:
Bachelor’s degree of minimum 3 years after 10+2 from a recognized board/university with a minimum aggregate of 50%.
Candidates in their final year of graduation can also apply for the program.
Candidates with work experience can also apply for the MBA program. Institutes will prefer them over other candidates without work experience.
5% relaxation for the candidates with reserved quota (SC/ST) in government institutes. (Note: Private/non-govt. Institutes offering MBA/PGDM courses do not offer reservations.)
(Note: Each Institute has different criteria for selecting students for their MBA program. You can visit the college or Institute Website, go through their selection criteria; Processes and apply accordingly.)
Process To Apply For An MBA Program Each Institute has different criteria for selecting students for their MBA program. You can visit the college or Institute of your choice, read their selection criteria, and apply accordingly. Some of the reputed colleges use CAT scores for calling up students, while many other top-ranked B-schools prefer their selection method.
Select the college of your choice and apply as per their selection criteria. Prepare for GD and PIs and get admitted to your dream MBA college.
MBA Career Scope: Job Roles and Salary
After completing your MBA from top business schools, you can work at numerous executive-level positions and earn a decent salary which starts from 6 LPA and may increase based on your experience. With an MBA degree, you can work at reputed MNCs as
Business Development Manager
Credit Risk Management.
Hedge Fund Management.
Human Resources Manager
Top Companies that Hire Management Professionals
There are endless work opportunities for qualified MBA professionals from top business schools. Here are some companies that hire management professionals from top-tier colleges:
Boston Consulting Group
Pursue An MBA While Working
Executive MBA programs allow you to pursue MBA without discontinuing your professional job. Pursuing an MBA while working in an organization is a good idea. Many companies encourage employees to pursue further education under employee skill enhancement programs. It saves time and money as executive MBAs are cheaper than regular full-time 2-year MBA programs.
Best MBA Courses For Working Professionals In India
The MBA in Banking and Financial Service is amongst the best MBA programs for working professionals. The TAPMI Centre for Executive Learning, A leading B-school in India, offers it. It is a two-year full-time online program that prepares aspirants to build a bright career in the banking and financial sector. This program will provide you with a deep understanding of essential topics of finance and derivatives and equip you with in-demand skills.
The total course duration of an MBA (BKFS) is 2 years, with 20 foundation courses with 3 credits of each in 1st year.
The 2nd year will comprise 2 Core and 5 elective courses, each of 2 credits.
The program is designed for working professionals and entrepreneurs who have:
Minimum 1 Year of work experience
Completed graduation degree with a minimum aggregate score of 50%.
After completing the course, you can work as a Wealth Manager, Financial Analyst, Advisory (including techno financial), Operations, Analyst (Risk, Research), etc.
Can I get MBA based on work experience?
Yes, you can get admission to an executive MBA based on your work experience. Apply for MBA (BKFS) by TAPMI to boost your career growth.
Which type of MBA is best for working professionals?
The Online MBA (BKFS) offered by TAPMICEL is best for working professionals.
What is the duration of an MBA?
The course duration for the MBA program is 2 years.
What are the benefits of pursuing an MBA?
It will help you to grow in your career and get executive jobs at big corporates worldwide.
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