MBA (Masters in Business Administration)MBA (Masters in Business Administration) is a post graduate course in management education. Amidst the plethora of career avenues available today, management stands out as one of the most popular choices. It offers a rare combination of a lucrative salary, challenging job profile, fast track growth and immense job satisfaction.
The popularity of MBA as a preferred career option can be estimated from the rise in the number of institutes offering MBA courses. According to one estimate, there are 1100 + institutes offering MBA programs. This meteoric rise in the number of institutes offering MBA program and the number of students (around 3.5 lacs every year) aspiring to get an MBA degree is not without reason. Since most institutes do not discriminate among students from different fields, graduates from all fields: Commerce, Arts, Engineering, Science and Medical are attracted to the MBA program. With increasing professionalism in management, a huge number of job opportunities have been created in the field; in contrast there is a saturation of jobs in government organizations. There is also a growing demand for good Indian managers abroad.Name Game:
MBA is a two-year course, at the end of which, one is conferred with one of the following qualifications: MBA (Master in Business Administration), PGDM (Post Graduate Diploma in Management), PGPM (Post Graduate Program in Management) or PGDBM (Post Graduate Diploma in Business Management). According to the UGC Act, only universities are authorized to issue degree to students in India. As a result, most of the top institutes in India confer diplomas.MBA Specializations:
Choosing an MBA Specialization can be as difficult and confusing as the decision to choose a career for yourself or deciding from where you want to pursue your MBA degree.Finance
MBA in Finance offers numerous possibilities in the corporate world. MBA in Finance prepares you for exciting careers in investment banking, merchant banking, financial consultancies, international finance, corporate banking, etc. People who do MBA in Finance can go on to become Credit Managers, Investment Banking Associates, Treasurers and Finance Officers and Management Consultants.Marketing
MBA Marketing is very dynamic and competitive. Marketing is a hard-core job beginning with sales stints and is one of the most popular MBA streams in the world. Marketing requires excellent communication skills and creative thinking. It requires creative and outgoing people with the ability to influence others. Generally, most MBAs in Marketing join as Sales Managers, Brand Managers, Marketing Managers etc. after their sales stints.Operations
MBA in Operations offers careers in Supply Chain Management, Inventory Management, Quality Control, Logistics, Product Planning, Production Management and Shop Floor Management. An MBA in Operations requires an eye for detail, negotiation skills, effective knowledge of supply chain and product life cycles, etc. Operations Manager often reach positions like Plant Manager and Chief Operating Officer (COO).Human Resources (HR)
The job of an HR manager forms the basis of every business. It includes Recruitment and Selection of personnel, deciding Compensation, Employee Training and Development, Job Analysis and Performance Appraisals and ensuring retention of employees in the organization. Human Resources Management is concerned with internal marketing of a company. HR Management is virtually a recession-proof job because every company, irrespective of the sector it operates in, requires HR professionals. MBA in HR requires good communication skills, people skills, dependability and confidence.