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India’s MBA Gold Rush

In India is seeing a gold rush for MBA. In India privatization is making its feet stronger day by day. In toady’s India there are much more opportunities, as compared to the earlier years. Especially after 1990’s liberalization policies India has seen a big boom in privatization. That why MBA which was not much not sot after carrier option in India till 1985, has seen a big boom in this segment. The number of applicants for IIM’s has increased many folds, knowing that only one percent of them can make for it. That’s why today there are more than 1000 MBA colleges in India. About 100 of them are well recognized worldwide.

The rush for the MBA is because of the good status symbol associated with it. For middle class students this offers a very good opportunity for growth. Only by getting an admission in leading MBA College, they can land up in big posts. More to this, MBA courses provide big challenges for young generations. They got lot of challenging assignments in their tenure. The other reason is obvious the big pay cheques associated with jobs offered to MBA’s. Recent years there is huge increase in salary offered to average MBA student. Last year one of IIM, Ahemdabad MBA graduate was offered salary more then 1 core/year. Which is the highest ever salary offered to an Indian MBA. If we compare this with the average Indian earning, most of them are not even able to earn 1 crore in their whole life.

The main raise in the salary is due to the coming up of MNC’s for recruitment in India. Every year lot of MNC’s visit Indian campuse and offer attractive packages. This is due to the success of lot Indian MBA’s abroad. Not only the MNC’s, what the Indian companies are also offering good salaries. Indian companies have shown significant growth in world today. Also the liberalization has opened new business opportunities in India. New businesses are coming up and they require good managers to run their business.

Today MBA is good sot after carrier option in India. More and more student opts for this. The rush for MBA is clear from the fact that today even doctors, engineers and all field graduate are opting for MBA. Therefore more and more colleges have started offering MBA courses. If students doesn’t got seat in big institutes, then they are even opting for foreign countries. In recent year the number of students going abroad for MBA has increased many folds.

Top MBA Colleges in 2016

With better career opportunities providing higher salary, holistic perspective over the business world, high-level networking, leadership opportunities etc, students resolved that MBA can help them to escalate their career at one go.

MBA, the most sought post graduate degree program to persist in the business world, indeed has a wide range of criteria to be taken care of before opting for it. Criteria such as the MBA specializations, whether to opt for 1 year or 2 year MBA, which college to go for; have certainly put students in a plight.

MBA degree can be done as a 2 year traditional degree or as a 1 year MBA program which is an accelerated choice for students having crystal clear career goal as their dream. Some of the most popular specializations chosen today in MBA are Finance, Human Resource Management, Marketing Management, Operations Management etc. The expansion in the global business economy has given rise to new MBA specializations like Rural Management, Information Technology, Supply Chain Management, International Business (IB) etc.

Even if the specializations are chosen, another dilemma that takes form is whether to choose a government college or a private college. Keeping in mind the value of the degree offered, facilities, placements and career options the colleges provide, you should go ahead opting for the colleges best for you.

In order to help you grab a seat in the top B-Schools in India, various entrance exams like CAT, MAT, SNAP, XAT etc are conducted across India. List of top 5 B-Schools in India are categorized below with their exceptional qualities that made them to be on top:

Indian Institute of Management (IIM) Bangalore:

Located in India’s high technology capital, IIMB is in close proximity to some of the leading corporate houses in the country, ranging from information technology to consumer product companies, giving it the added advantage of integrating classroom knowledge with practical experience. IIMB is the only Indian business school to feature among the Top 50 B-schools on the Financial Times Executive Education 2015 Rankings, alongside the London Business School, Harvard School of Business, University of Oxford and several others.

IIMB has also been ranked among the Top 30 Business Schools in the world on the Financial Times’ prestigious Master in Management Rankings for 2015. IIM Bangalore has recently topped the list of best management institutes in the ‘India Ranking 2016’ – the first-ever national ranking of universities by the Government.

Faculty of Management Studies, University of Delhi:

FMS is among the few Top B-Schools of India, where every permanent faculty member is a Ph.D degree holder. Every student in FMS is a part of Management Science Association (MSA), a student body comprising of different panels that focus on distinct functional areas of interest.

To encourage entrepreneurship, FMS provides a placement holiday to students who wish to pursue their own ventures and allows them to participate in a subsequent placement process for up to two years, in case they want to avail the opportunity. Nestled in a strategic location that is at the crossroads of busy corporate and student activity, FMS hosted over 200 business leaders in the last year to facilitate a comprehensive learning curve for its students.

Indian Institute of Management, Ahmedabad (IIMA):

IIMA is consistently rated as the Top B-School in India by reputed national agencies. The institute has been ranked 16th in the Financial Times (FT) Masters in Management Rankings 2016 as well as ranked 24th in the Financial Times Global MBA Ranking 2016 in its top 100 list of B-Schools, announced in January 2016. The enviable record of the entire batch getting placed year after year, over the past 20 years, also points to the quality of the students admitted and the quality of training they receive.

Narsee Monjee Institute of Management Studies (NMIMS), Mumbai:

NMIMS is located in Mumbai, Maharashtra, India. It is a private university one of the leading MBA College since last 34 years and has awarded as 13th top Business World B-School Survey in 2014. The placement programs of 2015 included MBA, MBA HR, MBA Banking and MBA Capital Markets. The average pay offered is Rs. 16.51 lakh per annum, which is around 8% higher than last year.

NMIMS School of Business Management (SBM) is ranked 12th in top 100 management schools & 5th place in top 10 Pvt B-schools in Outlook Drshti B School survey 2014, 9th rank top 25 B-schools, 3rd rank top 35 Pvt. Colleges, 2nd rank top 25 Pvt. Colleges in West Zone in The Week Hansa Research B-School Survey 2014 etc.

Department of Management Studies, IIT Delhi:

Department of Management Studies (DMS), IIT Delhi is known for its 100% placements record which is the reflection of the timeless ties and relationships with their corporate partners. DMS, IIT Delhi has been ranked in the top 2 schools in the “Business and Management Research” category of the “Stanford Ranking” for 2015. Outlook has ranked IIT Delhi 6th among the top 10 B-schools in India 2016. DMS, IIT Delhi shares top three ranks in India for business and management studies along with IIM Ahmedabad and IIM Bangalore in QS India University Rankings 2015.

Top MBA Colleges in India – The Breeding Ground For World Class Professionals

India has obtained a special place in the world map as far as imparting managerial education and nurturing industry-ready professionals are concerned. MBA which is the contraction for Master in Business Administration is the most sought-after course in India as well as abroad. This 2-year course is generally pursued after graduation. Luckily, students in this country have access to some of the top MBA programs in the world. These programs are offered by renowned institutes like IIMs, XLRI, FMS-Delhi, MDI, etc.

The need for world-class managers is always felt by various industries like IT, automobile, hospitality, insurance, FMCG and many more. To fulfill this growing need for efficient managers, many management institutes are coming up in various parts of the country. However, Indian Institute of Management or IIMs are the top MBA colleges in India with excellent track record since their inception.

The youth in India is frequently opting for MBA after completing their graduation as the course offers plenty of growth opportunities for them. It certainly assists them in climbing up the corporate ladder quickly. As effective management is turning out to be an integral part of any business, the demand for MBA professionals is increasing day by day.

The scope of MBA is very wide-ranging in comparison to any other courses. A management graduate always has the opportunity to work in any sector of his preference. The pay packages are always attractive and include allowances and other emoluments to increase the standard of living. Graduates passing out from top MBA colleges in India have occupied high positions in many corporate houses. Besides building careers in the corporate sector, one can become an entrepreneur, or work in co-operatives and NGOs as the options are simply unlimited.

Various MBA and post-graduate diploma in management or PGDM courses are designed in such a manner that they instill multi-dimensional and multi-tasking capabilities in the graduates, thereby making them least affected by recession of economy or changes in business environment. For instance, a MBA professional with finance specialization does not inevitably feel the heat when the finance sector experiences stagnation. He can always maintain his career growth by getting into the marketing of the financial services (e.g. marketing of insurance products).

The top MBA or PGDM institutes in India offer specialization in subjects like finance, human resources, marketing, operation, banking and insurance, international business, and IT and systems. Specialization in niche fields such as hospitality management, event management and fashion technology are also available.

There are total 8 IIMs in cities like Ahmedabad, Bangalore, Kolkata, Lucknow, Kozhikode, Indore, Shillong, and Ranchi. The admission into its top Post Graduate Program in Management (PGP) programs is conducted through Common Admission Test (CAT). The list of employers includes HSBC, Larsen & Toubro, Proctor & Gamble, Tata, ICICI bank and Deutsche Bank.

Founded in 1949, Xavier Labour Research Institute (XLRI), Jamshedpur is well-known for its two-year post graduate diploma in business administration and two-year post graduate diploma in personnel management and industrial relations. It selects candidates for its programs through the all-India entrance exam known as XAT.

The salary of MBA graduates is dependent upon the reputation and credibility of their business schools. Students from IIMs are always known for getting the best salary packages all over the country. Business schools like XLRI-Jamshedpur, FMS-Delhi and S P Jain-Mumbai are also not far behind. As per the placement records of 2010, there is an average 25 percent increase in average domestic salaries across top MBA colleges in India. For example, IIM-Calcutta has recorded an average salary of Rs. 15 lakh for the year 2010. Many other business schools have also similar encouraging news related to salary. Numerous global blue chip companies like Mckinsey & Co, The Boston Consulting Group, Bain and Company, etc. have hired graduates form these institutes.

Know About the Best 5 Universities to Do Your Online MBA

MBA degree is a coveted degree among many to increase not only the earning potential but also the career options. Often, students wait for two more years to complete their MBA degrees, even after they land a job after graduation because, the experience, skill and the networks made during earning this degree, help them in future. This can take them out even in tough market situations. The practical business expertise that they will gain will help them in securing topmost positions in their organizations. An MBA degree is known to provide a practical experience in the foundational business practices. It is a comprehensive coverage of accounting, management and finance primarily and also business communications, operations management, quantitative analysis and marketing strategy. Thus, we understand the importance of these degrees. But, often due to certain reasons or the other, attending a regular college for earning the degree is often not possible. Then people prefer to go for online MBA courses. These courses are ideal for those people who may be already working in an organization for a long period of time. He or shay may now want to acquire the required theoretical knowledge or apply for some managerial positions. For them also, online MBA courses are very helpful.

Online MBA programs, often include group projects and case studies. These allow, students from various backgrounds to collaborate with each other and share ideas. This is very much important for people to form a mutually beneficial network. The students also get a chance to hone their soft skills like communication and analytical skills along with leadership skills which they can apply to the global world of business. They get to know about various other diverse fields like marketing, supply chain management, entrepreneurship etc.

The online MBA courses help the already working professionals to take on new responsibilities, get into management roles or pursue any entrepreneurial course of action, if they want.

Online MBA Courses-Things You Have To Know

The MBA degree, as already discussed, is a very much sought after degree. It is seen as a ticket to corporate success. As the time has passed by, the MBA course has witnessed a lot of variations like, one can do it with a lot of specializations at the same time. Then there is the emergence of online MBA programs, which allow not only flexibility but also continuity in education. These programs are also known as distance learning programs, and gives the opportunity to students to opt for an MBA course, who might have otherwise found it a difficulty.

Online MBA Courses have become very popular in the last few years. There are many accredited online MBA courses nowadays that are accepted not only by the employers but are sometimes also offered by the reputed B-schools. The only thing that has to be kept in mind is that one has to check whether the online courses are accredited. Some of the online programs are eligible for financial scholarships and student loans as well.

Advantages

The online MBA courses have two main advantages. The first is the flexibility to work within the schedule. This is a great help to those students who are already working or for mothers who have to take care of a baby, back at home. Sometimes, financially also, these courses are more feasible, as online courses are priced at a lower cost than the normal MBA programs. The online courses usually take 2 years to be completed but sometimes depending upon the time taken by the students, they might get extended.

Top 5 international Universities Offering Online MBA

There are many universities which offer online MBA. The best degree programs are selected based on certain parameters like the quality of program, types of courses which are provided, awards received, faculty strength, reputation in general and reputation for online programs.

University of Florida-Warrington College of Business

This university offers, graduate, undergraduate and various professional courses in a diverse range of business studies. It has courses, catering to the busy professionals. Practical and theoretical concepts on legal and ethical issues, communication, organizational, management, accounting and marketing are stressed on in this course.

University of Virginia-Darden School of Business

This institution is known to offer great programs in business education. The programs can be continued without disturbing the current careers. This MBA program requires 60 credit hours and includes courses like business ethics, accounting for managers, financial management and policies, decision analysis, operations management, strategic thinking and action etc.

University of Minnesota, Twin Cities-Carlson School of Management

The Carlson School of Management has a lot of business related programs, through online program options. This curriculum again focuses on key subjects like communication, data analysis, marketing and operations, management etc.

University of North Carolina at Chapel Hill-Kenan-Flagler Business School

This business school offers a great variety of business programs catering to all kinds of professional development. Busy professionals who want to advance their business careers may select any one from Corporate Finance, Data Analytics, Entrepreneurship, Global Supply Chain management, Investment Management etc. This program may be completed in 18-36 months.

University of Illinois at Urbana Champaign-Gies College of Business

Known for offering a comprehensive curriculum, this program covers finance, investments, team leadership, leadership models, communication and marketing. The program is known to improve the knowledge and skills necessary for achieving success in various roles like chief executive, management consultant, personnel manager etc. This program requires 72 credit hours to be completed.

Source by Stratford Universty

Create Your Own MBA Program

Many small business owners are typically self-taught in the ways that make them successful. Most small business owners do not have an MBA, which actually is a good thing. Formal business education, specifically the typical MBA program, is geared more toward the large corporate environment and not the small business environment that agency owners operate in.

So, how would one design a two year MBA program for the small business agency owner? The program is based on a trimester system and the students are required to read a book a month for two years. There will be six areas of study, with a bonus session to allow a concentration for the insurance industry. By the end of these two years, students will have the right information to operate a small business and be successful.

The key purpose of this program is to accelerate through the learning curve. Much of the information the students will learn has been around for a while and it works. Successful business owners do not re-invent the wheel. They take a proven idea and adapt it. This cuts out the time and expense of having to learn it on their own.

1. The first trimester focuses on understanding one self and others. What skills and knowledge are needed to be successful? All of these books are classics and three of them have been around for over 75 years. In order to be a great business owner, one needs to understand themself, as well as understand how best to relate to other people.

· 7 Habits of Highly Successful People by Steve Covey

· How to Win Friends and Influence People by Dale Carnegie

· Think and Grow Rich by Napoleon Hill

· The Richest Man In Babylon by George S. Classen

2. The second trimester is an introduction to business and the philosophy of business. Most small business owners got into their business because they were good at what they did. Michael Gerber created the mantra of “Work on the business and not in the business,” so his book is a must read. The other books will round out one’s understanding of what it means to be an entrepreneur and small business owner.

· The E-Myth Revisited by Michael Gerber

· Scaling Up: How a Few Companies Make It… and Why the Rest Don’t by Verne Harnish

· Rework by Jason Fried

· The Personal MBA: Master the Art of Business By Josh Kaufman

3. Sales and marketing is covered in the third trimester. The books in this session will go from the big picture of sales and marketing to the nitty-gritty details of how to do it. Sales people will like the books by Schley and Holmes and the marketing folks will hone in on the books by Heath and Gladwell.

· Made to Stick: Why Some Ideas Survive and Others Don’t by Chip Heath and Dan Heath

· The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell

· The Micro-Script Rules: It’s not what people hear. It’s what they repeat… by Bill Schley

· The Ultimate Sales Machine by Chet Holmes

4. Welcome to year two! The fourth trimester is all about management and leadership. Satisfied employees are critical to the success of a business. Some people are natural leaders while others can be great leaders with some training. The material and ideas in these books are practical and easy to learn.

· The One Minute Manager by Ken Blanchard and Spenser Johnson

· The Dilbert Principle by Scott Adams

· The 21 Irrefutable Laws of Leadership by John C. Maxwell

· Drive by Daniel Pink

5. The fifth trimester focuses on an area that business owners easily get or perpetually struggle with – economics and business financials. Even if it is a turn off for some small business owners, it is still important that the basics are understood. Accounting is a subject that does not translate well to books, so that subject will be covered using online videos. There are many free videos that will cover both the basics and the details of accounting.

· Basic Economics: A Common Sense Guide to the Economy and Economic Facts and Fallacies by Thomas Sowell

· Financial Intelligence A Manager’s Guide to Knowing What the Numbers Really Mean by Karen Berman and Joe Knight

· Various online videos on accounting

6. Now that the business is running, what is next? A successful business is not static; it undergoes constant change and improvement. The sixth trimester introduces philosophy of change and techniques on how to re-think the business operations.

· Built to Last by Jim Collins and Jerry Porras

· Who Moved My Cheese by Spenser Johnson

· What Got You Here Won’t Get You There by Marshall Goldsmith

· First, Break All the Rules by Marcus Buckingham and Curt W. Coffman

Congratulations! Reading these 23 books will provide information more valuable to the small business owner than taught in most MBA programs! Graduates of this program now have the skills and knowledge to be even better business owners. Some graduates might want to continue on to a concentration within their industry.

Formal education can be valuable. However, the stereotypical small business owner has neither the time nor patience to attend an MBA program. There is so much good information that all business owners can easily have a customized “MBA Program.” So, crack open a book, turn on a kindle or plug in some ear buds, school is in session!