There are many confusing questions that the ever-popular 3-letter acronym (M.B.A.) generates every year, as new higher education aspirants (enamoured by the exciting opportunities that the qualification seems to promise), hit the internet for answers.
“What’s an MBA?“, “How many years to complete an MBA? What is the average course duration?“, “What subjects does the course list cover?“, “What is the typical MBA course fee?” and of course, “Is it right for me?”
It’s best that we start with the basics, right? If some of this sounds too trivial, feel free to jump to the section that you find the most relevant. We’ve covered all the details about the MBA on this site, from the very simple to the highly advanced MBA topics.
By definition, an MBA is an internationally accepted masters (post-graduate) level degree that
-imparts a strong theoretical foundation in business concepts
-provides practical opportunities (via internships, group assignments, and individual projects) to test what students learn in the class
-builds hard-skills in the areas of management and leadership
-polishes a range of soft-skills like communication, motivation, and negotiation
-opens up global opportunities for career growth
-allows MBA students to start an independent business after graduating
Whether you are looking at MBA courses in India or abroad, the choices can make the process overwhelming. Starting from the type of the program to shortlisting the best MBA courses, it takes a lot of effort.
However, if you can structure your process and knock out the options that don’t fit your needs, life can become a little easy.
MBA courses can come in a wide variety of formats. The most common types of MBA courses are as follows: Full-time MBA, Executive MBA, Part-time MBA, Correspondence Course, Distance MBA Courses, Online MBA courses…Phew! Quite a mind-boggling choice.
Each one has its pros and cons. Though there is no single best format, the full-time MBA format can get you the biggest bang for your buck.
The average duration of full-time MBA programs can range from 1 to 2 years. You’ll find programs like INSEAD that are shorter than 1 year. The duration of part-time programs can extend up to 3 years since students are working and studying at the same time.
There are no clear answers to which one would be best for everyone.
In the initial period, the course syllabus covers the following core subjects:
Accounting, Economics, Corporate finance, Strategy/Frameworks, Human Resource Management, Organisational Behaviour, Leadership, Marketing, Information Technology
Once the basic foundation has been laid, you’ll have the option of specializing in any area that you want. This can be done by choosing several electives.
Ekagra Academy provides specific classroom programs for:
-CAT (weekend and weekdays)
-GMAT (weekend and weekdays)
-NMAT (weekend batches only)
-IIFT (weekend and weekdays)
-XAT (weekend and weekdays)
-SNAP (weekend batches only)
-CMAT (weekend batches only)
-MAT (weekend and weekdays)
-Combined Program (weekend and weekdays)
The classroom programs are designed specifically for individual exams to help students focus on the exams they want to ace. Combined Program is for students who want to prepare for more than one exam.
Each class is of a minimum 3-hours duration. Tests are held regularly to accustom students to the rigorous exam day situation.
Ans. The main difference between MBA and PGDM is that MBA is a degree and is offered by universities, whereas, PGDM is a post-graduate diploma offered by AICTE approved institutes.
Indian universities come under the University Grants Commission (UGC) and can, therefore, award degrees like the MBA degree, also known as MMS in Mumbai. Universities follow the UGC format for course content. On the other hand, reputed management institutes design their courses based on industry feedback and business relevance. They are not covered under the UGC.
Importantly, when it comes to job opportunities, institute reputation matters more than the name of the degree or diploma.
-PGDBM – Post Graduate Diploma in Business Management
-PGDBA – Post Graduate Diploma in Business Administration
-PGDM – Post Graduate Diploma in Management
-MBA – Masters in Business Administration
-MMS – Masters in Management Studies
Ans. Every B-school has its own fee structure. Overall, it may cost you around Rs 20,000 to Rs 15 lakhs or more to pursue full-time MBA or PGDM program. Ex: Faculty of Management Studies (FMS) (Fee: INR 20,960) and Indian Institute of Management, Ahmedabad (IIMA) (Fee: INR 15,50,000).
Ans. Consider the following parameters before selecting an institute for taking MBA admission:
-Accreditation of the Institute
-Past placements records