MBA- Eligibility, Syllabus, Scope, Career fields, and More
THIS ARTICLE WAS UPDATED ON 21/MAY/2020
One of the most popular options that many students from a variety of streams prefer to take up after completing their graduation is Masters of Business Administration or as it is popularly known as MBA.
An MBA degree provides its degree holder with a wide plethora of opportunities, in a number of fields. It is a professional two-year degree course for postgraduation.
Interestingly, MBA degrees are handed out by some of the most prestigious institutes of our country. Before getting into the jobs available to one after successfully completing an MBA, let us discuss more about the MBA.
The value of an MBA degree, however, is not limited strictly to the business world. You do not need to have entrepreneurship goals to make the best use of the MBA degree. An MBA can also be resourceful for those pursuing a managerial career in the public sector, non-profit sector, private industry, and other areas.
Furthermore, when we talk about a secure and lucrative career, nothing can beat an MBA. After completing this erudite course, students can secure great positions in the management sector of the business economy. There are numerous streams and branches available from which you can choose one according to your own preference and interest.
Hence, there are various types of specializations one can do with his MBA degree. It is these specializations that mainly affect the job options offered after graduation.
Eligibility
Students from various streams and fields choose to do an MBA due to its value in the market. Even people who have completed their graduation and started working in the industry prepare for an MBA because of its brand value and the knowledge it has to offer.
The prospective candidate must satisfy one of the following eligibility criteria for postgraduate admissions to the MBA program.
- A graduate degree under 10+2 with graduation in 3 or 4 years pattern under any stream.
- The candidate must have secured at least 50% marks in aggregate from a recognized university.
- An honors degree from a recognized university under UGC Act with at least 50% marks in aggregate including languages
- Candidates who have passed a Bachelor/Master’s degree through correspondence or open university system from a university recognized by law, are exempted from the 10+2 pattern. The duration of the degree course must be 3 + 2 years
Some government-affiliated universities and their colleges accept national level entrance tests like CAT or XAT. They may also conduct their own entrance tests.
There are state-level entrance tests as well conducted by the state government affiliated colleges/universities. Such as like MHTCET for Maharashtra, PGCET for Karnataka, TANCET for Tamil Nadu.
Some renowned private universities conduct their own exams like NMAT, SNAP, X-GMT.
Eligibility for MBA at SMS, Varanasi will have to appear in UPSEE examination conducted by Dr. A.P.J. Abdul Kalam Technical University (APJAKTU) formerly (UPTU) and should come through counseling. For 15% of management quota seats, direct admissions are taken on the basis of marks obtained in graduation and CAT/MAT/XAT/CMAT percentile and Personal Interview.
Syllabus
The syllabus of an MBA program is crafted to spread knowledge and teach the skills required in the business industry. You can choose your field of MBA, for which the syllabus would differ from the regular MBA.
However, some core subjects are included in the syllabus of every MBA course. The study of these subjects is required to acquire specialization in business administration.
These subjects include-
- Management Concept & Indian Ethos
- Managerial Economics
- Financial Accounting For Managers
- Business Statistics and Analysis
- Taxation
- Organizational Behaviour
- Marketing Management
- Business Communication
- Computer Application in management
- Developing Soft Skills & Personality
- Business Environment
- Business Environment
- Human Resource Management
- Business Research Methods
- Financial Management & Corporate finance
- Operations Management
- Quantitative Techniques for Managers
- Legal Aspects of Business
- Strategic Management
- International Business Management
- Corporate Governance: Values and Ethics
- Entrepreneurship Development
More about MBA syllabus
Other than the study of these subjects, there are also topics that you study on the basis of the group you choose to specialize in any field. The fields that you will be offered will usually be Finance, Marketing, Human Resource, or Entrepreneurship.
Also, there will be subjects taught related to those fields to make you skilled in that stream and prepare you for future endeavors.
So, here are a few subjects that you will learn other than the above-mentioned ones if you pursue an MBA, mentioned field-wise:
- Human Resource Talent Management, performance and Reward Management, Industrial Relations, and Labour Laws.
- Marketing Sales & Distribution Management, Tax Planning & Management, Digital Marketing.
- Finance Security Analysis & Portfolio Management, Tax Planning & Management, Financial Market & Commercial Banking.
- Entrepreneurship Management Process & Organisation Behaviour, Production & Operations Management, Operations Research, Strategic Management & Business Policy, International Business Management, Legal Aspects of Business.
These fields are highly studied as the economy is growing at a very fast pace. The number of business organizations in India, as well as, abroad is increasing each day. With digitalization taking over, there is a dire need to attain as much knowledge as you can to enhance your chances of getting a secured job.
Career fields
Let us discuss these fields in detail-
MBA in finance
It is considered as one of the most difficult courses of all. The abundance of opportunities and the various subjects taught to students like Corporate Valuation, Investment Management, Management Control System, Taxation, Financial Statement, Tax Planning, Analysis, and Reporting of Financial services, is an important reason for the magnetism of this course.
The job opportunities available to graduates of MBA in finance are spread in various fields like merchant banking, investment, and consumer banking, international finance, corporate finance, and institutional finance.
They can also serve in government committees and add inputs to the policy-making issues, as well as, providing consultation services to government and corporate organizations.
Some of the jobs available to those who have done an MBA in finance are:
- Accounting Manager
- Chief Financial Officers
- Cash Managers
- Manager Consultants
- Investment Banking Associates
- Credit Managers and Specialists
- Financial Analysts
- Corporate Controllers
- Finance Officers and Treasurers
- Insurance and Risk Managers
- Investment Bankers
- Investing Sales Traders and Associates.
MBA graduates in finance can expect a heavy pay package depending upon the business school they have graduated from. Some of the top packages from the top B-schools are at an average of Rs 10-15 lakhs per annum.
MBA in marketing
MBAs from the Marketing stream are very much sought after. Because good marketing is the universal remedy that companies have been prescribed for themselves to ward off the ills of recession.
The postgraduates from MBA in Marketing can choose from a wide variety of careers in various industries like retail, banking, hospitality, media, Information Technology (IT) and Information Technology-enabled Services (ITES), and Free-moving Consumer Goods (FMCG).
They can often find jobs in the positions of Brand Manager, Sales Manager, Marketing Manager, Product Manager, Market Research Analyst, Media Planner, and Internet Marketing Manager.
And the annual salary of MBAs in Marketing may range from Rs. 1.51 lakh to Rs. 20.43 lakh in popular companies including HDFC Bank, Tata Consultancy Services, Kotak Mahindra Bank, Vodafone, and Amazon. They may rise through the ranks to become a Product Development Manager, Vice President of Marketing, or CEO.
MBA in human resource management
Human Resource Management is often considered as the backbone of any organization. That is so because it enables it to run successfully by recruiting a skilled and knowledgeable workforce.
There is a high demand for MBAs in Human Resource Management (HRM). Every company needs to hire an HR administrator to take care of various things like settling and handling the activities regarding the hiring of employees, their benefits, compensation, salary settlement, training, and development. Also, maintaining the work performance of the employees and ensuring that all activities are done as per the company policy.
As of now, they can be employed in the positions of HR Generalist, Staffing Director, Technical Recruiter, Compensation Manager, Employee Relations Manager, Employment or Placement Manager, Director of HR Training and Development, Organizational Development, and Change Consultant.
The salary of an MBA graduate in HRM in India will range from 2 lakh to 5 lakh per annum, in companies like ABC Consultants, Wise Group, Kelly Services, Manpower Inc, Kforce among others.
MBA in entrepreneurship
This program of MBA is designed to qualify students with the requisite, knowledge, skills, and networks needed to become entrepreneurs and innovators. So, it ensures that the students are able to generate business ideas, develop those ideas into product and service offerings, and then design a commercial venture to take the business ideas to the market.
Thus, students are aided in developing knowledge in important areas of entrepreneurship including learning how to commercialize their business ideas, how to seek venture capital financing for their ventures, and how to develop commercial business organizations.
MBA in Entrepreneurship course explores entrepreneurship as the passage of a business idea into a new commercial venture. While creating opportunities to contribute to society by offering employment to the unemployed. The specialization may involve recruitments, administration of duties, accounts, and estimation of profitability. Basically, involving all brilliant ideas and funding support.
Job profiles
Here are some of the job profiles that you can apply for after completing an MBA-
Finance Manager
A Finance Manager is accountable for the utilization and distribution of financial resources in a firm.
It is a very crucial job that is acquired by only experienced personnel who know how to handle resources in the best possible manner.
A finance manager also plays the role of advising the business administration staff in their workings to enhance the output by minimizing cost and creating strategies to reduce the financial risk of the firm.
In addition to the above, he is also responsible for budget planning, analyzing market trends and competitors, and producing financial reports for a better understanding of the financial status of the firm.
A student can pursue postgraduation or diploma in the field of Finance to climb a ladder that goes up to the post of a Finance Manager.
With the required degree there is also a requirement of enough experience in this field. A person with good experience in management and required knowledge of Finance can apply for a job in this profile.
Requirements for this post are apt knowledge of finance, experience in the management field, an analytical mind, commercial and business awareness, good communication skills, ability to work under serious time constraints.
Human Resource Manager
A Human Resource Executive is responsible for ensuring that the strategies and programs constructed by the HR department are administered properly.
His job is to ensure that the working of the organization is efficient with adequate staffing who are keeping up the competitive standards of the industry.
HR is one of the widely chosen job fields. Those who have the aptitude to recruit highly skilled professionals and be able to hold them in the firm are correct to be working in the HR department.
They are responsible for all the staffing activities in the firm. Such as recruitment, interviews, selections, hiring, etc.
They are also required to manage and handle any dispute between different departments and their personnel. Their job requires them to resolve their issues and maintain a healthy working environment.
The HR Manager ensures there is the healthy functioning of all the departments of the firm. And the employees are able to give their best to the company by motivating them through incentives and other benefits.
Research and Development Manager
The job of a Research and Development (R&D) Manager is very analytical and creative. He is responsible for brainstorming for new and innovative ideas for the company’s growth.
An R&D Manager performs various highly important roles within an organization. Being responsible for research, planning, and implementing new programs, and protocols into their company or organization, they also oversee the development of new products.
R&D Managers can choose their field according to their interests. Every field, including healthcare, technology, business, pharmaceuticals, etc, need an R&D Manager who takes care of their product details and adds more value to it through a number of tools of research and development.
Those interested in this field require an analytical and visionary mind that is capable of developing programs and strategies to develop a product or service.
Also, the job of an R&D Manager requires him to have good communication skills so that they can communicate their thoughts well with the other departments, and good managerial skills as well.
Hence, this is the kind of job profile that is perfect for people who think out of the box and want to get into a challenging field of management.
Business Consultant
A Business Consultant is hired to analyze the working of an organization and suggest improvements to make the existing practices of a company better and efficient.
He can choose his own field of specialization. For example, a hospital can hire a Healthcare Business Consultant to make recommendations on how to increase the efficiency of the staff and develop employee training programs.
Subsequently, Business Consultant duties generally begin with understanding what clients want to improve or fix. This includes reviewing financial statements, evaluating competitors, and analyzing business practices.