The Craze for MBA among Indians has not diminished. MBA still the most preferred postgraduate course choice in India.
There’s a craze for MBA degree among Indian middle class. But one professional education group which benefits most from an MBA degree or PGDBM (some Universities give MBA degree, some offer MBA degree after the successful completion of the 2 year Post Graduate Management Programme) are the engineers. Since an engineer has the much required technical skill; when it gets spiced up with a Business degree, it’s a perfect combination.
The craze for a Master of Business Administration (MBA) degree among Indian middle class has not faded. It’s still the most preferred post-graduate course choice in India, especially in metro cities, according to a survey by university search engine IndiaCollegeSearch.
MBA Degree means a Better Job in India
According to the survey, most undergraduates feel that an MBA degree is a sure way of getting a good job.
Metro cities fuel the craze for MBA in India
According to the survey, MBA is more popular in metro cities; and these cities actually fuel the demand for MBA education.
Enlightening more on the state of professional education in India, the IndiaCollegeSearch CEO Anirudh Motwani said,
…in India the proportion of people with professional experience is smaller as compared to that of fresh graduates joining the stream, which is contrary to global trends.
Prospects for MBA degree holder or PGDBM (Post Graduate Diploma in Business Management) in India
The way all fingers in hand are not equal, in the same way, all Business Schools and the degrees they offer are not the same. Hence the choice of a B-School or Management Institution for an MBA or PGDBM does matter.
The reputation of an Institution plays a role in the salary an MBA passout commands. Although the the pay packages for MBA are more or less stagnant since 2013, still MBA salaries see a clear hierarchy, where Top B-Schools attract the best salaries for their students.
According to the report, the average salary of students passing out from colleges accepting CAT (Common Admission Test) score in 2013 was Rs 2.79 lakh per annum, marginally up from Rs 2.72 lakh in 2012.
On the other hand, the average salary of students passing out of colleges accepting CMAT (Common Management Admission Test) score saw a minimal increase,moving up from Rs 2.20 lakh per annum in 2012 to Rs 2.23 lakh in 2013.
CAT and CMAT may not look very different when the minimum Salaries are compared. But there’s enormous gap when the top salaries commanded by CAT and CMAT crackers are compared. For the Top B-Schools who admit students based on CAT score, the top yearly salaries go close to a crore, if not more. That apart CAT has more acceptability abroad.
What to keep in mind before choosing a B-School or MBA Institute?
- The Rank of the MBA Institute is important. The higher the better.
- The academic performance during Two year Management programme is important. 60 percent in MBA is equivalent to average second division in other Education programmes.
- An MBA degree is always good with a good performance in the undergraduate degree. A person who has a first division in BCom, BA, BSc or BTech/BE is more well placed to do an MBA then a person has a Second division in graduation.
- That apart an engineering graduate or a BBA graduate or a BCom graduate can benefit from an MBA more than those in other streams.
But points 2, 3 and 4 are not the mandatory rules. And it’s up to the person to make his/her degree beneficial for him/her. But when one has a good academic record, good percentage and a management degree from a good B-school, then some of the struggle of job search is reduced.
MBAs find different types of employment opportunities, both domestically and internationally. 70 per cent of the senior managers or board of directors worldwide are MBAs. With more refinement in the way people do business, MBA degree will become more useful in future.