MBA FAQs: Getting Started for MBA
Stephen Covey, a motivational speaker, once said that “I am not a product of my circumstances. I am a product of my decisions.” The decision of deciding a career option for yourself is one of these decisions as it decides the future course of your life. This is like an irrevocable investment that will reap profits only if the decision is taken thoughtfully.
And over the last few years the field of management has come forth as a popular career choice amongst students from all domains. So, if you too are considering the idea of pursuing a career in the domain of management then it's quite natural that you would have certain queries. We have compiled a list of certain frequently asked questions by the MBA aspirants and have tried to answer them in order to put an end to your doubts. These queries have been categories in various heads to deal with your queries in a step-by-step manner.
Can I opt for MBA directly after 12th?
You can join an MBA programme after completing Class 12 directly through integrated MBA course. The course duration for integrated MBA courses is 4 to 5 years and they are generally offered in combination with other undergraduate courses like B.Tech. Candidates who have secured minimum 50% aggregate marks in their higher secondary examinations are eligible to apply for these courses.
Some popular institutes which offer 5 year integrated MBA courses are:
- Narsee Monjee Institute Of Mgt & higher studies –NIMS, Deemed University
- IIT Kharagpur Vinod Gupta School Of Management
- Maharshi Dayanand University, Rohtak
- Birla institute of Technology & Science
- Kurukshetra University
- University Of Lucknow Badshah Bagh, Lucknow
- IIT Mumbai’s Shailesh. J. Mehta School of management
- Department of Management Studies, Goa University
- Devi Ahilya Vishwavidyalaya, Indore
- Vellore Institute of Technology
- Institute of Professional Studies, Khandwa
Can final year BBM students apply CAT?
Yes, final year BBM students who are appearing for their final exam or are awaiting their results can apply for CAT. In case of selection, such you will have to submit a certificate issued by Principal/Registrar of her/his College/Institute confirming that you fulfil all the necessary academic criteria required for admission to MBA/PGDM programme at the concerned institute.
Can we get admission in MBA without clearing CAT, CMAT or any exam?
There are several private universities and MBA institutes that offer direct admission to candidates based upon their academic or work profile. A simple Google search would be sufficient to find them. However, having a CAT, CMAT or any other reputed MBA entrance exam score helps you to get admission in best of the best institutes. In the long run, companies selecting candidates for recruitment also consider students with high scores for final selection.
Minimum CAT percentage required for admission to IIMs?
Different IIMs have different short-listing criteria to select students for admission to PGDM programmes. However, as a rule of thumb, you will need minimum overall CAT score of 90 percentile is mandatory to be shortlisted. But a mere high CAT percentile will not secure your admission to IIMs, you will have to go through institute specific GD/PI/WAT and perform well in these as well for final selection. IIMs also consider past academic record and work experience for final selection of students.
Is it possible to clear CAT without coaching?
Yes! Every year number of students crack CAT exam without joining any coaching classes. The key lies in dedicating yourself to CAT preparation by devoting 3-4 hours daily. Design a well thought out plan for CAT preparation on the basis of CAT exam format and syllabus and set daily goals, weekly and monthly goals to be achieved. Take Mock tests and solve previous year question papers to evaluate your preparedness and make necessary changes to your CAT preparation strategy.
Which books are best to study for Arts student for cracking CAT?
There are several books and CAT study materials available in the market that will focus upon the key components of Quantitative Aptitude, Data Interpretation and Verbal Ability & Logical Reasoning. However, being an arts student, you will have to develop conceptual understanding of these topics at a very fundamental level. NCERT books go a long way in helping to clarify your basics on these topics. Once you have the fundamental understanding of these topics at a conceptual level, you can move on CAT-oriented books and dedicated preparation material to gain deeper knowledge in sync with the syllabus.
Indian MBA vs. foreign MBA, Which one to opt for?
Choosing between doing MBA in India and MBA from any foreign university can be quite a dilemma for MBA aspirants. The answer to this question would depend upon your priorities and goals that you want to achieve by taking up MBA. There are the main aspects you should consider before making a choice.
- Foreign MBA degrees are tailored more to suit the needs of international business practices. Therefore, if you are planning to work abroad after completing your MBA degree, it makes sense to go for foreign MBA. However, if you want to build your career in India, then you should opt for an MBA degree from top B-School in the country. Indian Management Institutes have tuned their course curriculum and training to suit Indian business scenario and will offer you more insights in handling practical problems you will face as a business manager in India.
Learning & Knowledge
- All Management programmes offered by both Indian as well as foreign universities are based upon same core syllabus. Therefore, on a theoretical level there is not much different between Indian MBA and foreign MBA. However, when it comes to practical application of these concepts, the training differs vastly. Therefore, the answer to this question is dependent upon your post-MBA plans.
- MBA programmes offered by foreign universities are comparatively more expensive than Indian ones; in terms of tuition fees as well as boarding and lodging charges. If you are planning to finance your education through student loans, the rate of interest for foreign MBA will be higher and it may have a longer payback period compared to Indian MBA education loans.
Return on Investment
- Foreign MBA will pay you well only if you are planning to work abroad. If you are planning to study abroad and work in India, then a foreign MBA degree hardly makes any difference.
On what basis should I choose an MBA institute?
You should consider the following factors to zero down upon an MBA institute:
- The first and foremost thing you should look in an MBA institute should be its credibility. There have been several cases of unaccredited private institutes cheating students offering dummy MBA degrees in the name of affiliation with popular educational institutes. So, research and understand the legal standing, governmental approval and affiliation record of the institute you are planning to join for your MBA degree. Ideally, you should opt for an MBA institute that is recognized by UGC or AICTE and is authorized to offer MBA/PGDM degrees.
- Nowadays, it has become a trend for B-schools to offer excellent infrastructural facilities while ignoring the core aspect of teaching. The most important aspect of judging any educational institute is through its teachers; therefore try to know about the faculty members that teach at the institute you are planning to join. Check their academic credentials, teaching experience and research papers or doctoral thesis they have published; it will show their expertise in the subject matter. Generally, the list of all faculty members is available on the official website of the college/institute.
Curriculum & Pedagogy
- While most B-schools follow a common set of set of curriculum for management programmes, the way it is taught differs vastly. However, management is a professional domain and mere theoretical knowledge is not going to help you in your career. Therefore, it is important to check the curriculum & pedagogy followed by the institute to check its effectiveness in helping students to learn and absorb difficult management concepts by exhibiting their practical applications in real world situations.
- The final and In fact, the most important thing for you to consider before joining any MBA institute is to check their placement record. The majority of MBA institutes today offer placement assistance but at times it is limited to training, seminars and workshops. You should opt for an institute that offers placement assistance beyond these. It may include personality development training, soft skill workshops, industry visits and summer internship programmes. In addition to this, also check the corporate brands that visit the college for campus placement drives and the highest, lowest and average salary on offer for during these sessions.
Does an MBA degree ensure a job?
Most of the MBA aspirants treat MBA degree as a passport to a successful and rewarding career. Well, sorry to burst your bubble, but this is not true. MBA like any other educational qualification is just a degree and doesn’t guarantee a job. However, being a professional degree the chances of securing a job post MBA are comparatively higher. There are several MBA colleges and institutes that offer job guarantee and placement for their students, but even after getting a job you will still have to prove your worth by delivering professional goals within the committed timelines.
We hope that the FAQs mentioned above would have surely answered the queries that will ease your confusion to gear you up for this beginning a career in this domain. Stay updated to find answer to more queries that we have received from MBA Aspirants.
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