The Master of Business Administration or MBA has become an integral part of executive education in India. The original concept of this degree was launched in India in the late 1920s by Sir Richard Branson. The Master of Business Administration was first introduced to the world in India. It is one of the most highly regarded business degrees in India and around the world.
The Bachelor of Arts in Business Administration was originally offered by the University of Cambridge (England) with the intention of training students who were interested in a career in banking, commerce and other business operations. However, due to the growth in liberalization processes the Masters in Business Administration was introduced in India in the mid-1990s. The original goal of the MBA program was to train people for high-level positions in industries such as banking, commerce and technology. Today, the MBA stands for a Bachelor of Science in Business Administration with an intention of going on to become the highest paid executive in various companies.
With a Master of Business Administration graduate business degree, you have the potential to become an executive in almost any industry and at the highest level. If your career goals entail becoming a Fortune 500 company CEO, you can be sure that an MBA will suit your needs. The Master of Business Administration course is one of the most challenging of all the graduate business degrees in India.
The salary of MBA graduates is in general higher than the average salary of graduates in other fields. Even after five years of service in a competitive organization, MBA graduates still command better salaries than their co-workers with only a high school diploma. A Master of Business Administration graduate may also command more salary than the MBA graduate with an associate’s degree.
Students enrolled in full-time MBA programs have to work and complete their educational obligations while also attending to their other responsibilities. Since they have to juggle between their other responsibilities and their graduate business degree, many students enroll in part-time MBA programs. Part-time MBA programs enable them to earn a bigger part time salary compared to pursuing full-time MBA programs. Many part-time MBA programs provide financial assistance to their part-time students.
There are many part-time MBA programs available in India. The number of part-time MBA programs has increased dramatically over the last few years. Many young professionals prefer to pursue part-time MBA programs to earn an MBA degree in a flexible environment and earn handsome salaries. Students opting for part-time MBA programs in India can choose from many reputed business schools such as IIFT, IIM Ahmadabad, IIT Delhi, and IIT Mumbai. Indian companies also offer attractive part-time jobs to MBA graduates.
In India, many multinational companies have their own internal working culture, which makes it extremely comfortable for full-time MBA candidates who want to pursue their MBA degrees. As Indian companies grow in size, their hierarchy of employees also develops. A full-time MBA graduate becomes a member of an organization’s executive team. A candidate who is successful in getting a good job with a reputed company will definitely have a good career prospect ahead.
Job-wise, MBA graduates are well placed and their salaries are always on a high scale. A good MBA degree imparts tremendous financial management abilities. Graduates who earn good salaries as chief technology officer or CPOs often opt for higher education. This leads to higher salaries and a better future.
Another notable fact is that MBA graduates have better employment options as compared to other professionals. This is because a variety of job categories are opening up due to globalization. With an MBA, one can be groomed into the right post according to his aptitude and experience. For instance, mba specializations preferred by recruiters are IT professionals, entrepreneurs, financial managers, physicians, etc.
According to studies, MBA graduates are highly talented and dedicated towards their jobs. In a survey, it was found out that MBA graduates are committed to providing quality services to their clients and strive to build a strong organizational culture that last long in the company. Their ability to work independently and handle multiple responsibilities makes them ideal to perform day-to-day operations management roles. Financial managers enjoy the highest paying job category in men with an average salary of Rs. 65K per annum.
The salary offered to MBA graduates depends on the level of the undergraduate degree attained. For instance, those who have bachelor’s degrees earn higher than the salaries of those with associate degrees. Those with master degrees earn more than the salaries of those with doctorate degrees. All these MBA scholarships and grants make education attainable even for the deserving candidates even though they are financially strapped.