What is an MBA? This is a simple question with a complex answer.
MBA stands for Master of Business Administration. In the purest sense, an MBA is a two year postgraduate degree in the field of business management.
Lately this degree has been gaining prominence due to the recognition and salary hike it provides to graduates. It’s popularity also owes to the fact that students from any stream or background can pursue it.
Moreover, both freshers and professionals can do an MBA, with regular part-time and distance-learning options available for increased flexibility.
Read on below to know more about MBA and why you should pursue it-
MBA Course Eligibility
- You need to be a graduate in any field
- You need to have a certain minimum percentage during graduation. (This depends on individual colleges)
- Final year graduation students are also eligible to apply.
- Candidates must have appeared in one of the accepted MBA entrance exams- CAT, MAT, CMAT, ATMA, XAT, GMAT or state entrance exams.
Top MBA Specialisations
During an MBA, you need to choose a specialisation in your final year. This is done so that you can delve deeper into an area of your choice and make it the primary field of your career.
- MBA in Finance
- MBA in Human Resource Management
- MBA in Logistics Management
- MBA in Marketing Management
- MBA in BFSI (Banking Financial Services and Insurance)
- MBA in Operations Management
- MBA in Business Analytics
- MBA in Sales Management
- MBA in Retail Management
- MBA in Digital Marketing
Top Skills for an MBA
Even though an MBA will teach you technical, managerial and soft skills, it’s always good to have a pre-existing skillset before embarking on this journey.
The following skills are not a pre-requisite to pursue an MBA but they are good to have-
- Business know-how
- Communication skills
- Management skills
- Strategic research
- Analytical approach
- Ability to work under pressure
Scope of MBA
An MBA makes an astonishing difference to your career.
From ensuring an excellent professional network to a decent salary hike, an MBA is the degree to fulfil all your dreams.
Recruiters around the world hold an MBA in high regard and there is never a dearth of opportunities as an MBA grad.
Post completion of your degree, you can get hired as a manager in different industries depending on your specialisation.
MBA in Banking and Finance
An MBA in Banking and Finance is an excellent choice for your specialisation.
It will teach you skills such as planning and controlling the financial resource of your organisation.
New tech such as blockchain, web3, machine learning etc requires new staff to be able to handle them effectively. This has created loads of job openings in this sector
MBA in BFSI grads are perfect to meet this demand in the market with their new and up to date skills being exactly what is required.
Please note that even though we have mentioned an MBA in Banking and Finance here, all other specialisations of MBA are equally good in terms of career prospects. As always the decision is up to you in the end depending on your interests and inclination.