MBA Full Form, Eligibility, Best B-Schools, Job Profiles, Salary and More

Higher education is crucial in advancing careers in today’s fast-paced and competitive business world. The MBA full form is Master of Business Administration, it is one of the most sought-after degrees in business. 

This article will explore the ins and outs of an MBA, including its definition, types of courses, specialisations, eligibility criteria, top entrance exams, and the best B-schools offering MBA pragrammes. We’ll also delve into the career scope and job prospects for MBA graduates, providing comprehensive insights into this prestigious degree.

What is the MBA Full Form?

An MBA full form is Master of Business Administration. It is a postgraduate degree designed to equip students with the necessary skills and knowledge to excel in business.

The pragramme covers various aspects of business management, including finance, marketing, human resources, operations, and strategy. Employers highly value an MBA degree, which can open doors to numerous career opportunities in various industries.

Highlights – MBA (Master of Business Administration)

Details

Name of the Course

MBA

MBA Full Form

Master of Business Administration

Course Level

Postgraduate

MBA Course Duration

Two years

MBA Eligibility Criteria

Bachelor’s degree in any specialisation from a recognised university with a minimum aggregate of 50% (60% for IIMs)

Entrance Examinations

CAT, MAT, XAT, ATMA, CMAT, GMAT, NMAT

Top B – Schools

IIMs, MDI Gurgaon, FMS Delhi, SPJIMR Mumbai, XLRI

Similar Specialisations

MBA in Finance, Sales, Human Resources, Marketing, Business Analytics, Digital Marketing

Average MBA Fees

Government B – Schools: Rs 50,000 to Rs 4 lakh. Private B – Schools: Rs 20 lakh to Rs 25 lakh

Careers

Manager, Sales Manager, Marketing Manager, HR Manager

Average MBA Salary

Rs. 15,00,000 LPA

Top Recruiters

Google, Deloitte, NTPC, Citibank, ITC, Vodafone, Larsen & Toubro, Microsoft, Amazon, Wipro, PwC

History of the MBA Full-Form

The background of the MBA can be dated back to the early twentieth century. Thus, Harvard University launched the first MBA pragramme in the United States in 1908.

It was pioneering to see that a formal education pragramme was concocted to prepare individuals for managerial positions in commerce. Thus, the complete form of MBA has transformed a lot, and nowadays, many B – Schools and universities in different parts of the globe offer various specialisations to meet the demands of the modern business world.

Importance and Benefits of doing an MBA

The MBA has gained immense importance over the years for several reasons:

  1. Career Advancement: The MBA allows candidates to apply for higher-level managerial jobs. It also indicates that an MBA is necessary when progressing to the uppermost organisational level, meaning it is essential for career advancement.
  2. Skill Development: An MBA, also known as a Master of Business Administration, is designed to provide comprehensive knowledge of business and management sectors and may involve areas such as finance, marketing, operations, human resource management, and more.This has made them cumulatively possess a broad skill set essential in the volatile business world.
  3. Networking Opportunities: The MBA’s complete form means Master of Business Administration, and it is an excellent opportunity to make connections.Communication with fellow students, lecturers and field experts can take one to the employment and partnership arena.
  4. Increased Earning Potential: MBA graduates are known to experience a drastic boost in their salary status after they complete their studies. The investment’s returns usually manifest in improved remuneration and employment opportunities.
  5. Global Recognition: An MBA degree is recognised worldwide, automatically opening employment opportunities.

Types of MBA Courses

Considering this fact, the MBA offers many courses, depending on the pragramme a student wants to pursue.

Here are some of the most common types:

  1. Full-Time MBA: This regular pragramme is typically done in a conventional university and takes two academic years.
  2. Part-Time MBA: Designed for working professionals, this pragramme allows students to study while continuing their jobs.
  3. Executive MBA (EMBA): This is a concentrated pragramme designed for working professionals, focusing on modern business principles and management strategies.
  4. Online MBA: This type of MBA has many advantages and is flexible; thus, students can study from the comfort of their homes or whenever they want.
  5. Distance MBA: Like the online MBA, such a pragramme enables students to study without having to be in class most of the time.

Experiential Learning

MBA pragrammes focus on experiential learning concepts that entail using knowledge in practical problems. This can include:

  1. Internships: Several pragrammes include internship opportunities with firms, exposing the students to a practical working environment and experiences acquired from class.
  2. Consulting Projects: Students could complete consulting projects based on real organisations’ cases and produce recommendations and solutions to realistic business issues.
  3. Case Studies: The actual cases can illustrate numerous essential problems, demonstrate how various companies address them, and help the students practise problem-solving.
  4. Study Abroad pragrammes: Most MBA complete forms have provisions for studying abroad, which makes the students more aware of different cultures and international business environments.

List of MBA Specialisations

Various specialisations are available in MBA pragrammes to ensure everyone can find what they want to do.

Here are some popular MBA specialisations along with the best job profiles associated with them:

Specialisation

Best Job Profiles

Finance

Financial Analyst, Investment Banker, CFO

Marketing

Marketing Manager, Brand Manager, Sales Director

Human Resources (HR)

HR Manager, Talent Acquisition Specialist, HR Director

Operations

Operations Manager, Supply Chain Manager, Logistics Manager

Information Technology (IT)

IT Manager, Systems Analyst, Chief Information Officer (CIO)

International Business

International Business Manager, Export Manager, Global Business Consultant

Healthcare Management

Healthcare Administrator, Hospital Manager, Health Services Manager

Entrepreneurship

Startup Founder, Business Consultant, Venture Capitalist

Business Analytics

Business Analyst, Data Scientist, Analytics Manager

Retail Management

Retail Manager, Store Manager, Merchandise Manager

Top 10 MBA Specialisations

Given below are the top 10 MBA specialisations:

1. Finance

Finance is one of the most sought-after MBA specialisations. It focuses on financial management, investment strategies, and economic principles. Graduates can pursue banking, investment management, corporate finance, and financial planning careers.

2. Marketing

Marketing specialisation emphasises market research, consumer behaviour, branding, and advertising. It prepares students for sales, marketing, digital, and brand management roles.

3. Human Resources (HR)

The Human Resources specialist deals with personnel and recruitment, employee relations, talent management, and organisational behaviour. Graduates may obtain the positions of HR manager, talent acquisition specialist, and HR consultant.

4. Operations

Operations specialisation focuses on developing, acquiring, and delivering goods and services. Thus, it is best suited for learning by those who want to enhance operational performance and eliminate sub-optimality.

5. Information Technology (IT)

Specialisations under Information Technology include IT management, systems analysis and information security. It can train IT managerial elites, systems analysts, and technology consultants.

6. International Business

International Business specialisations deal with trading activities, management, and marketing in the international marketplace. Graduates can also find employment in global business management in the export and import sectors and international consulting.

7. Healthcare Management

The specialisation area of Healthcare Management entails hospital administration, healthcare policy, and health service management. It equips learners for managerial positions in health facilities, other health delivery agencies, and pharmaceutical industries.

8. Entrepreneurship

The entrepreneurship specialisation concerns business innovations, initial company formation, and venture capital. It suits students and professionals intending to engage in business, particularly as consultants.

9. Business Analytics

The Business Analytics specialises in data analysis, statistics, and business intelligence. Business analysts, data scientists, and analytics managers are some careers available for graduates.

10. Retail Management

Retail Management specialisations deal with the management of operations and merchandising in a retailing environment and the behaviour of consumers. They mainly produce students for retailing management, store management, and merchandising jobs.

MBA Eligibility Criteria

Candidates must meet specific eligibility criteria to pursue an MBA degree. Here are the general requirements:

  1. Educational Qualification: A bachelor’s degree from a recognised university with a minimum aggregate score (usually 50%).
  2. Entrance Exam: Qualifying scores in relevant MBA entrance exams (discussed in the next section).
  3. Work Experience: Some MBA pragrammes, especially Executive MBAs, require prior work experience (typically 2-5 years).

Top MBA Entrance Exams in India

Candidates must clear specific entrance exams to secure admission to top MBA B – Schools in India. Here are some of the most popular MBA entrance exams, along with their details:

Entrance Exam

Conducting Body

Exam Pattern

Frequency

CAT

IIMs

Quantitative Aptitude, Data Interpretation & Logical Reasoning, Verbal Ability & Reading Comprehension

Annually

XAT

XLRI Jamshedpur

Quantitative Ability, English Language & Logical Reasoning, Decision Making

Annually

GMAT

GMAC

Analytical Writing Assessment, Integrated Reasoning, Quantitative, Verbal

Throughout the year

CMAT

META

Quantitative Techniques & Data Interpretation, Logical Reasoning, Language Comprehension, General Awareness

Annually

SNAP

Symbiosis International

General English, Quantitative, Data Interpretation & Data Sufficiency, Analytical & Logical Reasoning

Annually

NMAT

GMAC

Language Skills, Quantitative Skills, Logical Reasoning

Throughout the year

MAT

AIMA

Language Comprehension, Mathematical Skills, Data Analysis & Sufficiency, Intelligence & Critical Reasoning, Indian & Global Environment

Quarterly

Top MBA B-Schools in India with Fees

Here are some of the top government MBA B-Schools in India, along with their fees:

B-School Name

Location

Fees (Approx.)

Indian Institute of Management Ahmedabad (IIMA)

Ahmedabad

INR 23 Lakhs

Indian Institute of Management Bangalore (IIMB)

Bangalore

INR 23 Lakhs

Indian Institute of Management Calcutta (IIMC)

Kolkata

INR 23 Lakhs

Faculty of Management Studies (FMS)

Delhi

INR 2 Lakhs

Indian Institute of Management Lucknow (IIML)

Lucknow

INR 19 Lakhs

Indian Institute of Management Kozhikode (IIMK)

Kozhikode

INR 20 Lakhs

Indian Institute of Management Indore (IIMI)

Indore

INR 21 Lakhs

Indian Institute of Foreign Trade (IIFT)

Delhi

INR 17 Lakhs

Department of Management Studies (DMS), IIT Delhi

Delhi

INR 9 Lakhs

National Institute of Industrial Engineering (NITIE)

Mumbai

INR 14 Lakhs

Note –  Fees may be subject to change over time. 

Top Private MBA B-Schools in India with Fees

Here are some of the top private MBA B – Schools in India, along with their fees:

B-School Name

Location

Fees (Approx.)

Indian School of Business (ISB)

Hyderabad

INR 35 Lakhs

XLRI Xavier School of Management

Jamshedpur

INR 23 Lakhs

SP Jain Institute of Management and Research (SPJIMR)

Mumbai

INR 19 Lakhs

Management Development Institute (MDI)

Gurgaon

INR 21 Lakhs

Narsee Monjee Institute of Management Studies (NMIMS)

Mumbai

INR 20 Lakhs

Symbiosis Institute of Business Management (SIBM)

Pune

INR 18 Lakhs

Note –  Fees may be subject to change over time. 

Top B-Schools for Online MBA

For those who prefer the flexibility of online learning, here are some top B-Schools offering online MBA pragrammes:

B – School Name

Mode of Learning

Fees in INR (Approx.)

Amity University

Online

1,95,000

Manipal University (MAHE)

Online

2,80,000 

O.P. Jindal Global University

Online

4,00,000

DY Patil University

Online

1,69,200

Sikkim Manipal University

Online

80,000 

IGNOU

Online

37,000 

Manipal University Jaipur

Online

1,75,000 

Jain University Online

Online

2,60,000 

Sharda Online

Online

80,000 

 Note –  Fees may be subject to change over time. 

MBA Courses Career Scope: Jobs Profiles, Salary and Top Recruiters

An MBA degree opens up various career opportunities across multiple industries. Here are some popular job profiles, their average salaries, and top recruiters:

Job Profiles and Average Salaries

Job Profile

Average Salary (INR per annum)

Marketing Manager

7-12 Lakhs

Financial Analyst

6-10 Lakhs

HR Manager

7-12 Lakhs

Operations Manager

8-14 Lakhs

IT Manager

10-15 Lakhs

Business Development Manager

8-13 Lakhs

Note –  Salary may change depending on time, experience, location and company. 

After completing an MBA pragramme, the career scope is vast, with graduates finding opportunities in multiple sectors. Some of the prominent job profiles include:

  1.   Marketing Manager

Role: Marketing managers develop and execute marketing strategies to promote products or services. They also conduct market research, analyse consumer behaviour, and oversee advertising campaigns.

Skills Required: Analytical skills, creativity, communication, and strategic thinking.

Industries: FMCG, retail, advertising, and digital marketing.

  1.   Financial Analyst

Role: Financial analysts evaluate financial data, create models, and recommend investment decisions. They analyse economic trends, company performance, and market conditions.

Skills Required: Financial acumen, analytical skills, attention to detail, and proficiency in financial software.

Industries: Banking, investment firms, insurance, and corporate finance.

  1.   Operations Manager

Role: Operations managers oversee the production and delivery of goods and services. They ensure efficient processes, manage supply chains, and strive for cost reduction and quality improvement.

Skills Required: Problem-solving, organisational skills, leadership, and process optimisation.

Industries: Manufacturing, logistics, healthcare, and retail.

  1.   Human Resources Manager

Role: HR managers handle recruitment, training, employee relations, and performance management. They develop policies to maintain a productive and positive work environment.

Skills Required: Interpersonal skills, conflict resolution, organisational skills, and knowledge of labour laws.

Industries: All sectors, including IT, finance, healthcare, and manufacturing.

  1.   Management Consultant

Role: Management consultants advise organisations on improving efficiency, solving complex business problems, and developing strategies for growth. They analyse data and recommend actionable solutions.

Skills Required: Analytical skills, problem-solving, communication, and business acumen.

Industries: Consulting firms, corporate strategy, and management consulting.

  1.   Product Manager

Role: Product managers oversee the development and marketing of products. They work with cross-functional teams to ensure the product meets customer needs and aligns with business objectives.

Skills Required: Project management, market research, communication, and technical knowledge.

Industries: Technology, consumer goods, healthcare, and e-commerce.

  1.   Investment Banker

Role: Investment bankers assist companies in raising capital, mergers and acquisitions, and financial advisory. They work on complex financial transactions and provide strategic financial advice.

Skills Required: Financial modelling, negotiation, analytical skills, and understanding of financial markets.

Industries: Investment banks, financial institutions, and private equity firms.

  1.   Entrepreneur

Role: Entrepreneurs start and manage their businesses, taking on financial risks to achieve growth and profitability. They identify business opportunities, develop business plans, and manage operations.

Skills Required: Innovation, risk-taking, leadership, and business strategy.

Industries: Various sectors, including tech startups, retail, and service industries.

Top Recruiters

 
  1.   Finance Sector: Goldman Sachs, JP Morgan, Morgan Stanley
  2.   Marketing Sector: Unilever, Procter & Gamble, PepsiCo
  3.   Human Resources: TCS, Infosys, Wipro
  4.   Operations: Amazon, Flipkart, DHL
  5.   Information Technology: Google, Microsoft, IBM

How to Choose the Right MBA pragramme?

Selecting the right MBA pragramme is a crucial decision. Factors to consider include:

  1. Accreditation: Ensure the pragramme is accredited by a recognised accrediting body, such as AACSB, AMBA, or EQUIS.
  2. Reputation: Research the pragramme’s reputation and rankings. Consider factors such as faculty quality, alum success, and employer reputation.
  3. Specialisations: Choose a pragramme with specialisations or concentrations that align with your career goals.
  4. Format: Decide whether a full-time, part-time, executive or online MBA full-form pragramme fits your needs and lifestyle.
  5. Location: Consider the pragramme’s location and proximity to potential employers, networking opportunities, and industry hubs.
  6. Cost and Financial Aid: Evaluate the total cost of the pragramme and explore financial aid options, including scholarships, grants, and loans.
  7. Alumni Network: Research the strength and activity of the programme’s alum network. A strong network can provide valuable connections and career opportunities.

Conclusion

The MBA full form, Master of Business Administration, signifies a prestigious and valuable qualification that equips individuals with the skills and knowledge required for successful careers in business and management.

Whether you choose a full-time, part-time, executive, or online MBA, the opportunities for personal and professional growth are immense. With various specialisations, students can tailor their MBA experience to align with their career aspirations. 

The rigorous curriculum, practical experience, and networking opportunities prepare MBA graduates for leadership roles in various industries.

Note – Visit Hike Education’s website for perfect guidance in choosing an MBA career. Our counsellors provide expert advice to help you make informed decisions for your professional future.

MBA Full Form : FAQs

Q1. What is the MBA full form?

 The full form of an MBA is a Master of Business Administration.

Q2. What are the eligibility criteria for an MBA?

Candidates must have a bachelor’s degree with a minimum of 50% marks and straightforward entrance exams like CAT, GMAT, or GRE.

Q3. What are the types of MBA courses available?

Types include full-time, part-time, executive, online, and one-year MBA pragrammes.

Q4.Which are the top entrance exams for MBA in India?

Top exams include CAT, XAT, MAT, CMAT, NMAT, SNAP, and GMAT.

Q5. What are some popular MBA specialisations?

Popular specialisations include Finance, Marketing, HR, Operations, IT, and International Business.

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