When you ask anyone about a relevant higher degree, they will always recommend one name, “MBA.”
Opting to pursue an MBA (Masters of Business Administration) is a significant decision for every student. However, you must decide whether investing your time as well as money in an MBA program at a business school is worthwhile or not.
It is worthwhile to pursue an MBA if you are ready to compete in the modern corporate world. A Master of Business Administration degree can offer you immense benefits, specifically if it is awarded by one of the top business institutions in the world.
So, the question is, why go to a business school?
There are many reasons why you should consider going to business school to pursue an MBA. Here are some of the most important ones:
- To gain experience in a field that you want to work in
- To learn how to market yourself effectively
- To get the skills and knowledge you need to start your own business or continue your career path elsewhere.
What is an MBA?
The MBA is a graduate business degree that has been around for over 100 years. It can be completed in one year, or it can be taken over two years. The length of your education depends on the school you attend and its requirements.
MBA programs are primarily focused on business fundamentals such as finance, accounting, marketing, strategy, and organizational behavior. Some programs may also include management consulting and operations management components.
Are you wondering if MBA is a good career option?
Yes, it is!
MBA provides students with a complete education in business fundamentals. It is also an excellent way to advance your career, especially if you’re looking to take on leadership roles and/or want to work in strategic positions.
According to a survey of Application Trends held by the Graduate Management Admission Council (GMAC), it is stated that 67% of business schools witnessed an increase in applications in 2020, which monitors demand for MBA. Moreover, Applications to international business schools rose overall by 2.4%.
How to prepare for MBA exams?
Before beginning the preparation process, it is crucial to make a study plan that takes into account every aspect you need to cover for the MBA entrance exam. You must work hard enough to get into the desired MBA colleges in India.
When studying for MBA admission, picking the appropriate MBA entrance tests is crucial. It relies on a person’s choice and a variety of factors:
- Choice of MBA college
- Appropriate exam pattern
- Familiarity with the whole syllabus or kind of questions
- The level of the entrance exam
Eligibility Criteria for pursuing MBA
The MBA eligibility is generally the prerequisite a candidate must meet in order to apply for the program.
Eligibility Criteria include:
- A Graduate student with a minimum of 50% marks from a recognized university.
- MBA Aspirants must have taken the entrance tests.
The most well-known MBA entrance tests conducted in India are listed below:
- Common Admission Test (CAT)
- Management Aptitude Test (MAT)
- Common Management Aptitude Test (CMAT)
- Maharashtra Common Entrance Test (MAH-CET)
- Xavier Aptitude Test (XAT)
- Graduate Management Admission Test (GMAT)
Common Admission Test (CAT)
It is a National-Level Entrance Examination conducted by the Indian Institute of Management (IIM). MBA colleges largely accept this exam. However, it is primarily taken to enroll in Tier-1 MBA colleges.
Management Aptitude Test (MAT)
MAT is also a national-level examination conducted by the All India Management Association (AIMA). It is generally accepted by Tier-2 and Tier-3 MBA colleges.
Common Management Aptitude Test (CMAT)
It is a national-level entrance examination conducted by the National Testing Agency (NTA). This exam is conducted to take admissions in UGC, and AICTE-recognized MBA colleges in India.
Maharashtra Common Entrance Test (MAH-CET)
It is a state-level MBA entrance exam conducted by the State Common Entrance Cell of Maharashtra. It is accepted for admission in MBA colleges within the state.
Xavier Aptitude Test (XAT)
XAT is an entrance exam conducted by Xavier Labour Relations Institute (XLRI) in Jamshedpur. But, this exam is accepted by many MBA colleges across the country.
Graduate Management Admission Test (GMAT)
GMAT is also a well-known entrance exam for MBA colleges. It is regulated by the Graduate Management Admissions Council (GMAC).
MBA Admission Process
Below is the procedure for getting admission to an MBA:
- Candidate must register and then apply for MBA Entrance Exam
- Candidate must appear in MBA Entrance Exam
- Shortlisting Process is the third step
- Final Admission Procedure- GD-PI-WAT Round
MBA has three stages:
- Pre-application
- Application
- Post-application.
During these stages, you will need to devote your time, energy, and full concentration to your application.
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Pre-application stage
In the pre-application stage, you research the best MBA program for you by learning about the rankings, acceptance rates, program reviews, etc. Remember that starting preparation early is always a good idea, especially for testing preparation that requires a lot of practice, devotion, and effort. Moreover, you’ll need to examine your grammar, mathematics, and other courses that you probably studied earlier.
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Application stage
The toughest part of the MBA application process begins once you’ve decided on a specific program. This stage consists of a number of components, including essays, recommendations, transcripts, a résumé, test results that highlight your employment history, and a finalized application. Keep in mind that incomplete applications are either rejected or forwarded to the next round.
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Post-application stage
The last stage is post-application. You get ready for business school throughout this phase. As a refresher, look about signing up for some business classes. Do not leave your job after being accepted; wait until you have been issued a definite offer.
Benefits of pursuing an MBA:
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You will have a successful career
You’ll learn how to build a successful career. Being well-rounded is essential for long-term career success, so having an MBA can give you an edge over those who don’t have one. Moreover, with the help of an MBA, You will be able to improve your communication skills so that you can interact with others more effectively
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You will have more choices in where you work after graduation
A professional MBA degree offers you an excellent chance at landing a position with a large corporation or small business firm. Many companies offer internships and full-time positions to recent graduates, which allows them to gain experience while still in school. There are also plenty of smaller firms that specialize in hiring MBAs and other highly educated professionals, so this option might be best for those who want to work for themselves or start their own business later on down the road.
According to Harvard Business School, MBAs are among the most sought-after professionals in America today. Furthermore, they can help you get hired at any company and make a good living doing what you love.
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You will be able to increase your salary
MBA is a degree that provides you with an opportunity to enhance the value of your resume and make more money. An MBA degree can help you stand out from the crowd in a competitive job market, which is why many employers are willing to pay more for an MBA than they would for someone who has only completed a bachelor’s degree.
Your salary will increase by 15% or more! This is because employers value two things: having an MBA degree and being able to do specific tasks related to the job they want you to do (such as marketing). With an MBA degree, it’s easier than ever before to get hired in top positions at large companies where employers need people with specialized skill sets like yours!
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You’ll learn how to develop yourself as an individual
An MBA program will help you develop skills that will help you become more successful in life, whether it’s communication skills, leadership abilities, or problem-solving abilities, which can all be applied directly to your career path or even outside of it as well!
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You will feel more confident
You will be more confident. You’ll have learned the skills to help you succeed in the business world. You will have developed confidence and self-esteem that will enable you to make better decisions and lead a productive life.
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You will become a better leader
You’ll become a better leader. Having majored in business, you’ll understand how businesses work and be able to manage them better. You’ll also be able to form effective teams, manage conflicts, and inspire employees to work towards a common goal.
Career After MBA
MBA programs are a great way to prepare yourself for the future. There are many MBA career options. But if you’re looking for a career after MBA, here are some things to consider:
-What kind of job will it be?
-How much money can I make?
-What is my target industry?
After you’ve earned your MBA, you have amazing options. You could go straight into a high-paying job with a great company. Or you could take time off and travel around the world. Or you could join an investment bank or start your own business.
Whatever path you choose, the sky’s the limit!