Frequently Asked Question (FAQs) – MBA (Master of Business Administration) Course, Eligibility, Admission, Syllabus, Subjects, Career Growth

FAQs Related to MBA Course 

Q. What is an MBA?

The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The value of the MBA, however, is not limited strictly to the business world. An MBA can also be useful for those pursuing a managerial career in the public sector, government, private industry, and other areas.

Q. Am I a Good MBA Candidate?

If you’re thinking about doing an MBA program, you might ask yourself “am I a good candidate?” Of course, the answer depends on what schools you are applying to, and what these schools are looking for. However, most business schools will require for a few main things, such as a first degree, work experience, and a competitive GMAT score. Other aspects, such as extracurricular activities, can make you more attractive to a business school.

Work experience (important)

Standardized test scores (important)

Undergraduate performance (important)

Extracurriculars (helpful)

The interview (usually required)

Qualities of a good MBA candidate

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Q. Why Should I do an MBA?

Why do an MBA? Here are the five most common reasons why people do an MBA:

An MBA can help with career advancement

An MBA can help you meet people

An MBA can help you learn about other functional areas and industries

An MBA program can help you move to a new place

An MBA can help you make more money

Q. Do I Need an MBA?

Choosing to take a year or two out to study for an MBA is a big commitment, made only bigger when you consider the costs. But there are many situations where the benefits of an MBA will be worth your while. Here we list a few of the most common reasons professionals choose to study for an MBA.

You’re eyeing up the corner office

You’d like to make some new connections

You’re looking to move into a new industry

You want to move into a new functional area

You’re dreaming of work in a new country

You want to start your own business

Q. Funding Your MBA?

There’s no way around it: an MBA is expensive. But it’s an investment: usually, the financial cost of undertaking an MBA is going to pay off throughout the rest of your career. But you still have to find a way to fund your MBA studies, not to mention living expenses and other costs.

MBA scholarships

Loans for MBA students

Savings

Employer sponsorship

Start early

Q. Which materials do I need for my MBA application?

If you want to apply for an MBA program, you’ll need to gather a fair number of application materials. Many MBA programs require that you submit these materials online; you can find the place to do that at the various schools’ websites.

For your applications, you’ll usually need official test results from the GRE or GMAT, an official transcript, two to three letters of recommendations, a resume, answers to the school’s essay questions, and an application fee.

The application fee depends on the school.

The essay questions depend on the school. A recent Harvard MBA application essay prompt asked students to imagine that they are introducing themselves to their classmates on the first day of the MBA program. Oxford University’s Saïd Business School has asked students how they fit with Oxford’s mission, and whether there is anything not covered in the admission form that Oxford should know.

Other business schools want something more than just a written essay. Boston University’s Questrom School of Business, for instance, currently requires students to make three video essays when applying to the school’s MBA program.

Some business schools also ask shortlisted applicants to attend an application interview as part of the MBA application process. Many schools, however, now give the option for students to do the interview online, either through Skype or another platform.

Q. When do I need to apply to an MBA?

Many business schools use the rounds system for application deadlines. That is, some schools have four or five application deadlines. For business schools in the US, these rounds generally start in October or November and continue through April or May (for fall intake). Students can apply for any of the four or five deadlines, and the school will accept students during each application round.

But other schools don’t use the rounds system, and instead require students to apply by one hard deadline. Make sure to check the deadlines for the schools on your list.

If you’re hoping to win a scholarship, keep in mind that some schools have special scholarship deadlines as well.

Q.How do I choose which schools to apply to?

Choosing your schools is an integral part of the application process. Experts and officials often remind prospective students to avoid applying only to top-ranked programs. Every student has different needs, and it’s important to consider a variety of factors when you’re applying to schools, including cost, specializations, contacts and geographical location.

Q. MBA Accreditation: Why is it Important?

Accreditation from a reputable organization is one good way to check the quality of a business school. Accreditation organizations evaluate the quality standards of a business school’s teaching, faculty, services, and students, among other things.

Q. Which MBA course is the best?

All of MBA courses or specialisations have bright prospects for students it the field of business management. However, the best MBA course depends solely on the candidates and their interest. Some of the best MBA courses in India are MBA in Sales & Marketing, MBA in Operations, MBA in HR, MBA in Finance and MBA in Information Technology.

Q. Which are the top MBA colleges in India?

The IIM Ahmedabad, IIM Bangalore and IIM Calcutta are considered top MBA colleges in India. Apart from these three MDI Gurgaon, FMS Delhi, SPJIMR, IMT Ghaziabad, JBMIS, NMIMS, IBS Hyderabad, GIM Goa, GLIM and others. For the list of all top MBA colleges in India, click here.

Q. What is the eligibility criteria for MBA?

Eligibility criteria for MBA is Graduation. However, Many colleges prescribe minimum marks in aggregate in Graduation ( 50 per cent for General and 45 per cent for SC/ST candidates).

Q. How can I get admission in MBA course?

The MBA admission process includes entrance exam, group discussion and personal interview. Many colleges offer admission on the basis of graduation score only. To get admission in MBA course, the candidate will have to fill an application form and follow the admission process.

Q. Do I need to appear for entrance exam for MBA?

Most of the Tier-1 and Tier-2 MBA institutes in India accept candidates on the basis of MBA entrance exam score. So, if you want to pursue MBA from a reputed MBA college, taking an entrance exam is a must.

Q. What is the duration of MBA course?

MBA course is of two years, divided into four semesters. This course duration also includes summer internship after the first year. In the final year, the candidates are given the opportunity to participate in placements process to start their career.

Q. I have a Bachelors in Arts degree. Which MBA specialization is best for me?

The most suitable MBA specialisation for Bachelors in Arts degree holders are HR, Sales & Marketing, Tourism & Hospitality, Entrepreneurship and General MBA.

Q. Where Should I do my MBA?

“Where should I do my MBA?” This is a question that many applicants ask themselves. For some, it makes sense to stay locally, while others might find better opportunities (or just a great adventure) somewhere else.

You can do your MBA locally

You can do your MBA to gain international experience

You can do your MBA where you want to work

Q. Can I pursue MBA through correspondence?

Yes, many universities like IGNOU, Annamalai University and Osmania University offer MBA programmes in correspondence (distance education mode). Many private universities also offer online MBA courses which you can take up.

Q. Will I get good placement after completing MBA course?

Yes, most of the MBA colleges provide placement to its students at the end of the course. To ensure, you get a placement, check whether the college you shortlist for admission has a placement cell or not. Also check its placement reports to know which companies participate in campus placement.

Q. What is the difference between MBA and PGDM?

A: After completing the MBA course, the student gets a degree while after completing PGDM, the student gets a diploma. However, the skills and training offered in degree and diploma are the same.

Q. What is the salary of MBA fresher?

It mainly depends on two things: specialization and college. For top colleges such as IIMs, the starting salary can be around Rs. 18 – 20 LPA while for popular private colleges, it can range from Rs. 5 to 10 LPA.

Q. Why is MBA so expensive?

MBA can be an expensive course because of reasons such as the quality of curriculum and infrastructure of the college, the high average salaries offered after completing the course etc.

Q. Is MBA a Master degree?

Yes, MBA is a type of a Master’s degree program, which is considered to be a ‘professional’ course by AICTE.

Q. Which job is best after MBA?

Some of the best jobs after MBA include Management Consultant, Financial Advisor, Marketing Manager etc. Students must note that the best jobs available for them will vary by their specialization and interests.

Q. How long is an MBA program?

MBA is generally a 2-year full-time degree program. However, a number of other variants are also available that can have different durations.

Q. What is the eligibility criteria to take admission in MBA programme?

The basic requirement for taking admission in MBA Programme is that candidates must have a Bachelor’s degree from any recognized university.

Q. How can a candidate take admission in MBA Programme?

Admission criteria in MBA programme differs according to colleges. Major colleges accept entrance exam scores and conduct group discussion and personal interview rounds. Read the complete article to know about the various types of MBA entrance exams.

Q. What is the duration of MBA programme?

MBA is a two year programme which is majorly divided into four semesters. After the first year, candidates are required to do summer internships as well.

Q. How many types of MBA programmes are available as option?

Currently in India, MBA programmes can be taken as a full time two year regular MBA programme, correspondence MBA programme, Executive MBA programme, one year full time MBA programme or online MBA programme. Depending on suitability candidates can opt for any of the MBA Programmes.

Q. Which specialization in MBA can help in getting a good job?

Answer: MBA programme itself is a high-status degree. Candidates can opt for any of the specializations, depending on their area of interest. Major specializations opted by candidates include Finance, Marketing, Human Resource Management.

Q.What is the GMAT? Why should I take it?

GMAT stands for “Graduate Management Admission Test.” The GMAT is a standardized test that is required to apply for many MBA programs and other masters-level management programs around the world. It assesses skills that are important to management, including analytical and quantitative skills, as well as the test-taker’s ability verbal, reading and writing ability. All else considered, a good score indicates strong management aptitude.

Q. How does the GMAT work?

The GMAT is delivered entirely on a computer, at test centers all over the world. Currently, the GMAT is divided into four categories:

An analytical writing assessment

An integrated reasoning component

A quantitative component

A verbal assessment

The test is 3.5 hours long; individual sections range from 30 minutes to 75 minutes each.

The verbal and quantitive sections are 30 minutes each. These two sections consist solely of multiple-choice questions, which are computer adaptive, meaning if a test-taker gets one question right, the next question will be more difficult.

For the integrated reasoning section, test-takers are asked to analyze data that is presented in tables, graphs, or other sources. It is 75 minutes long.

For the analytical writing assessment, test-takers are asked to analyze reasoning in an argument. It is also 75 minutes long.

Q. How is the GMAT scored?

After test-takers complete the GMAT, they will be given a score between 200 and 800, which is based on scoring on the verbal and quantitative portions of the test. The analytical writing and integrated reasoning sections are graded separately, on scales of 1-6 and 1-8, respectively.

On test day, test-takers can choose to have their GMAT scores automatically sent to up to five business schools. A fee is required to send the score to additional schools.

Q. What GMAT score do I need to get into an MBA program?

It depends. Some MBA programs have minimum score requirements. Also, many business schools will provide information, such as the median GMAT score of accepted students, from which you can determine your competitiveness. You can find some of this information on individual business school profiles at FIND MBA.

Q. Are there alternatives to the GMAT for MBA admission?

Yes. Some business schools will accept a Graduate Record Examination (GRE) score in lieu of a GMAT score. The GRE is another computer-adaptive test that is used when candidates apply to masters-level programs. Additionally, some business schools have their own admissions test.

Q. Can I retake the GMAT?

Yes.

Q. Which Kind of MBA Program is Right for Me?

If you’ve decided to return to school for business, you’ll want to choose the program that best fits your career goals, experience, and the amount of time you want to put in. The classic two-year MBA is not the only option: schools offer plenty of different MBA programs based on your level of work experience,

Full-time MBA

Part-time MBA

Executive MBA

Online MBA

Blended MBA

Global/International MBA

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