Career in Focus-December

The sixth career of this series is "Master's in Business Administration in India". After vigorous study and extensive research, we bring to you this month's career option along with some related information.

What is MBA (Master’s in Business Administration)?

Master’s in Business Administration is an internationally recognized, postgraduate degree designed to develop the skills required for a career in business and management. The core courses in the program cover various sectors of business administration like human resources, finance, marketing, entrepreneurship, supply chain management, etc. It is also known as PGDM, PGPM, or PGP in Indian B-Schools.

Why MBA?

1. Better career opportunities with diverse companies

2. Developing leadership qualities, management, and entrepreneurial skills

3. Global exposure of the corporate sector

Eligibility Criteria

1. The candidate must have completed a Bachelor’s degree in any discipline with a minimum aggregate of 50% marks. Top institutions like IIMs and IITs require a minimum of 60% in graduation.

2. Students are selected based on their performance in the entrance exam, GD/WAT round, personal interview round, or as specified by the college.

3. MBA abroad requires 1-2 years of work experience.

Entrance exams for MBA colleges

1. CAT (Common Aptitude Test) – CAT is considered one of the biggest entrance exams of the country and most of the MBA colleges in India accept CAT scores. It is a 2-hour computer-based test consisting of three sections – VARC (Verbal Ability and Reading Comprehension), DILR (Data Interpretation and Logical Reasoning), and QA (Quantitative Ability). Initially, it used to be a 3-hour test but after the Covid outbreak, it eventually shifted to a 2-hour mode and is conducted in three shifts. Major institutions accepting CAT scores are IIMs, IITs, FMS, JBIMS, SPJIMR, MDI, etc.

2. XAT (Xavier’s Aptitude Test)- XAT is a 3-hour computer-based test consisting of four sections: QADI (Quantitative Ability and Data Interpretation), BDM (Business Decision Making), VALR (Verbal Ability and Logical Reasoning), and GK (General Knowledge). For percentile calculation, the scores of only the first three sections are considered while the GK section provides an edge during the final selection. Institutions accepting XAT scores are XLRI Jamshedpur, IMT- Ghaziabad, MICA- Ahmedabad, XIME- Bangalore, etc.

3. GMAT- It is a computer-based adaptive test mainly taken to pursue management studies abroad. Due to pandemics, students can also avail the exam at home in proctored format by booking a slot six months before the exam dates. It is conducted throughout the year and can be taken a maximum of five times in a year and a maximum of eight times by a candidate in their lifetime. The score of the GMAT is valid for a period of five years. There are four sections in the exam– Verbal reasoning, Quantitative reasoning, Integrated reasoning, and Analytical Writing (optional) offering MCQs. The top colleges in India that accept GMAT scores are ISB and SPJIMR. Abroad, almost all the leading business schools like Harvard Business School, INSEAD accept GMAT scores.

4. NMAT- NMAT by GMAC is an important test for taking admission in MBA in India and abroad. This is an adaptive exam conducted over a period of 2- months in specified slots and can be taken at Exam Centres as well as Online Proctored at home. It consists of three sections- Language Skills, Quantitative Skills, and Logical Reasoning. B-Schools in India that accept NMAT scores are NMIMS, ISB, SPJIMR, VIT, etc.

5. IIFT (Indian Institute of Foreign Trade Entrance exam)- It is a 2-hour computer-based entrance test consisting of four sections: Quantitative Analysis, Reading Comprehension and Verbal Ability, Data Interpretation and Logical Reasoning, and General Awareness. This test is taken to apply for MBA at IIFT- Delhi, Kakinada, and Kolkata.

Other entrance tests for MBA Colleges are SNAP, CMAT, MICAT, IBSAT, TISS-NET, etc.

Top Colleges for pursuing MBA

1. IIMs (Indian Institute of Management) – There are a total of 20 IIMs in the country. Those belonging to the top league are IIM Ahmedabad, IIM Calcutta, IIM Bangalore followed by IIM Lucknow, IIM Indore, and IIM Kozhikode. The procedure of selection at IIMs consists of 2-3 rounds. CAT entrance exams: IIMs shortlist candidates on the basis of their CAT scores. Work experience and academic profile play a major role in this process. GD/WAT: The shortlisted candidates are called for a GD (Group Discussion) or WAT (Written Ability Test) round. This process has been scraped from the past two years due to Covid-19. Personal Interview: The final round of selection is the Personal Interview Round which is being conducted online for the past two years because of the pandemic. Candidates are given scores for each round, work experience, academic profile and are shortlisted on the basis of their total score.

2. XLRI- Xavier School of Management (XLRI or formerly known as Xavier Labour Relations Institute) is one of the leading and oldest MBA institutions in the country located In Jamshedpur. It takes admission on the basis of XAT scores. The candidates are shortlisted on the basis of the XAT percentile, followed by GD/WAT and personal interview rounds. Like IIMs, XLRI too gives preference to work experience and academic profile.

3. Indian School of Business (ISB)- ISB has its campuses in Hyderabad and Mohali. It accepts GMAT or GRE scores for shortlisting students. Also, for taking admission to ISB, one needs to have a minimum of 24 months of work experience. The procedure of admission is similar to other MBA colleges- shortlisting on the basis of GMAT/GRE scores and then a personal interview round, with preferences based on work experience and educational background.

4. Faculty of Management Studies- FMS is under the umbrella of Delhi University and has its campus in the North Campus of DU. It accepts the CAT score, conducts a Personal Interview round, and an additional discussion over the SoP (Statement of Purpose) of the candidate.

5. SPJIMR- SP Jain Institute of Management & Research is located in Mumbai. It accepts CAT and GMAT scores, conducts Group discussions and interview round, considers factors like academic profile, work experience, and finally offers admission to the shortlisted students.

6. Other good institutions that offer MBAs are JBIMS, Mumbai which accepts CAT scores and conducts entrance tests for the state of Maharashtra, NMIMS- accepts NMAT score, MDI- accepts CAT scores, Symbiosis- conducts entrance test (SNAP), and IIFT- takes entrance test (IIFT entrance exam).

Preparation Strategy

1. All the major entrance exams for MBA colleges assess students on the basis of verbal ability and comprehension skills, logical reasoning and data interpretation skills, and quantitative ability. So, the main focus should be on these areas. One year would be an ideal duration for the preparation.

2. Coaching centers- Popular coaching centers for the preparation are TIME: https://www.time4education.com/ IMS: https://www.imsindia.com/ Career Launcher: https://www.careerlauncher.com/.There are other educational groups like iQuanta, Bodhee Prep, Quantifiers which provide online lectures and practice questions.

3. Preparation by self can be done with the help of books and free material available on the internet. Books by Arun Sharma are highly recommended for the preparation. There are certain Facebook groups- iQuanta, Quantifiers which provide some free material. A bit of effort in searching for study material available online helps a lot.

4. The focus should be on giving mock tests. Mock series provided by TIME and IMS are helpful.

5. For the GD, WAT, and Personal Interview round, the focus should be on, learning about the type of questions asked in those rounds and preparing accordingly. Coaching centers do provide classes for interview preparation.