Bachelor of Management Studies (BMS) is a top-rated course with youngsters across the country. Students can pursue a three-year undergraduate degree, either offline and online from any college and university. There are many job-oriented short term courses which will be in-demand for students once they have cleared the exams and received their degree.
But, before understanding the scope for you after BMS, you first need to understand what management science is and why it is a respected and must-sought degree, not only in India but across the world.
Management as a Science
Management gained acceptance as a science during the Industrial Revolution in Britain in the 19th century. One of its first proponents was Frederick Winslow Taylor, a mechanical engineer by profession, who authored the book “The Principles of Scientific Management” in 1909.
Since then, management as science has taken the world by storm as using scientific methods you can use to complete processes and projects, efficiently. No business or organization can survive the stiff competition of the global markets and constant improvements in technology.
Pillars of Management
Taylor proposed the four pillars of management, and the crux is:
- Management helps individuals and organizations determine the most competent and proficient way to complete a task.
- Using it to monitor the performances of employees and business processes. It involves identifying gaps and creating efficient solutions.
- Identifying the strengths and weaknesses of both people and processes. It also involves ensuring the right learning is shared to improve efficiencies.
- A manager is responsible for planning for the improvement of both the professional, people and processes.
But, today, the 14 principles of Henri Fayol’s Administrative Management Theory are widely accepted by organizations and businesses. His principles focus less on science and more on the administrative side of management intending to create an efficient company structure.
Career Options after BMS
Now, that you have understood how management is important across the world, let us understand both the academic and career options after BMS.
1. Academic Options After BMS
Not every student pursuing a Bachelor of Management Studies wants to start doing a job after completing their undergraduate degree course. Some like to study further to increase both their knowledge and improve their chances of employability. The options are many from Master’s Degree, Doctorate Programs, Diplomas, and online courses that you can explore, and some of the more popular ones are shared below.
2. Masters of Business Administration
More popularly referred to as MBA, it is a graduate degree pursued by students from every academic background. The courses by colleges and universities offer theoretical knowledge and practical training in business and investment management. They learn to focus on financial management, risk management, sports management, celebrity management, entrepreneurship, healthcare management, international business, and more.
You will have to clear the CAT and score a high percentile to get admission in the top B-schools of the country. In India, it is usually a 2-year degree program with a focus on business strategy, planning, organizational behavior, management, finance, accounting, business strategy, and employee management.
The average salary you can earn:
You can look forward to working with both the government and the private sector after getting an MBA degree.
3. Masters of Management Administration or Masters in Management
Both MBA and MMS are similar in their aspects as they relate to business management. Both are postgraduate degrees, but the major difference lies in the area of study. MMS or MIM students specialise in one area of a business, such as accounting, finance, economics, psychology or marketing. The focus on specialisation has made this a popular course since the early 2000s, and many universities and colleges are offering this specialised degree to interested candidates.
You need to complete an undergraduate program to get admission in the Master’s program. The program is usually for two years, and the course will vary depending on the area of specialisation. Classroom learnings and case studies are the key learning methodologies for this program.
A look at the average salaries by job:
Though not as popular as MBA, MMS is a sought-degree with brands looking to hire experts in one area of their business.
4. Post Graduate Diploma in Management
The PGD in Management, like MIS, is similar to an MBA. This one year course will help students pursuing develop skills to become effective leaders. Subjects of study covered by the diploma are financial accounting, business economics, business English and basics of mathematics and statistics. Getting admission in a PGD in Management is as tough as getting admission in an MBA; candidates are required to clear written exams, and personal interviews before admission are offered.
During the course of the program, the focus is on practical learning, where you will work in small groups and teams. Learning methodologies of nearly all institutes focus on nurturing individuals to take on the responsibilities of a strategic, business manager.
Let us look at the salaries for a Post Graduate Diploma in Management
Most of the biggest brands in the world hire PGD candidates to join their sales and marketing teams.
5. Masters of Computer Application
The popular course of MCA is for students who are looking for specialisation in computer science. As data and the science behind maintaining is the buzzword with every industry, it is a popular choice. It is natural to assume that only students who have cleared their BCA can get admission in this course. However, the Master’s program is open to students from different fields. So, if you have done your BMS and have a keen knowledge and interest in computer science, you should definitely explore this option.
The three-year degree prepares students to take on the responsibilities of an App Developer, Business Analyst, Database or Hardware Engineer, Ethical Hacker, Web Designer & Developer, and more. During the course, students will gain knowledge on developing computer applications to work in sectors such as banking, IT companies, digital marketing companies, desktop publishing, networking, and more.
A quick look at the basic pay scales for MCA graduates in India
MCA graduates are in high demand with both national and international organizations, and if you want to work abroad, building on your English language skills is also important.
Instead of going the traditional way of doing a Masters or Post Graduation, students can explore the many options offered under professional courses. Most of these are run online and require a limited number of hours. You can pursue these courses along with a career, thus ensuring a steeper career growth in the future.
Some of the courses include:
- MBA Business Analytics – 18th months
- Data Science – PG certification – 5 months
- Digital Marketing – PG certification – 5-11 months
- Product Management Certification – 5 months
- Blockchain Certification – 6 months
Remember that these are professional courses, and in some cases, it may be mandatory to have job experience. Always check out the requirement of the course and your eligibility before applying for the course.
Job Options after BMS
Now that we have looked at some of the popular academic options available to students, it is time to understand the options available. One thing that graduates must remember is that most organizations will offer entry-level positions. You can choose to do one of the courses mentioned above, or gain experience in the field and join a professional course that will further your career.
Here are some of the most sought after jobs by BMS graduates:
- Operations Management – Every company depends on its operational manager to ensure that the processes are running smoothly and efficiently. Organizations are usually looking for individuals with an eye-for-detail and ability to multitask.
- Project Level Management – The work of large and small scale companies are divided into projects. Companies are looking for educated individuals with the flair to manage stand-alone and multiple projects. They require leaders who can understand the value of planning, implementation, completion, and risk assessment.
- Customer Relationship Executives – Customers are pivotal to the success of both B2B and B2C companies. Most organizations hire customer relationship executives to coordinate with their customers. The main job revolves around understanding the customer requirement, sharing it with the concerned team, and then ensuring that the work gets delivered according to the expectations. It requires interpersonal skills and people’s management skills. It will cover sales, marketing as well as customer and communication management.
- Human Resources & Recruitment Executive – Most BMS students can apply for jobs with the HR departments, which also cover recruitment. The main responsibilities of the job are ensuring people-processes. HR executives are usually going between the management and executives, and hence, they enjoy a rather special place in the company ecosystem. The skills you will need to build upon will include people management with a strong foundation of creating and implementing processes for higher employee efficiency.
- Financial Executive or Analysts – No company can be successful in the long run if they are not managing their finances. From working with the accounts team, you can be called upon to help the sales team plan. You will mostly be tasked with advising teams on improving cost-efficiency with the help of newer processes or shift towards automation.
- Data Scientist – Entry Level – As mentioned above, most people wrongly assume that you need to be a computer engineer to pick up the job of a Data Scientist. The fact is that if you learn data science of the basic programming languages, you can easily join a company as a Data Scientist. The job is very much in demand across the world, and you can look to work with the biggest brands.
Top Four Reasons to Join A BMS Program
We have now covered the scope of both career and academic opportunities that you can explore.
But, let us look at the reasons why you should join a BMS program.
1. You get to choose from multiple career choices. The program prepares you to take on a variety of roles within an organization. As is obvious from the career choices mentioned on the top, you will develop the capability to don on many hats. You will have the choice to work with nearly every department in the organization, depending on your capabilities and interests.
2. It is a course that gives you a professional edge over the other Bachelor’s degrees. Usually, the course structure is adapted to address the changing demands of the industry. Hence, at the end of three years, students will find themselves equipped to take on the rigorous demands of an organization.
3. Students get great starting salaries. The starting salary for most of the above-mentioned job profiles is between three and six lakhs per annum. You can easily expect a much higher salary after you have gained experience in your field. Most students are surprised to learn that organizations support higher learning programs through a focus on work-life balance and employee-centric leave policies.
4. Get an opportunity to pursue different academic opportunities. Again, the section on the academic scope of this blog features the numerous management degrees and professional courses that BMS students can explore. The pay scales are also an indication of how high you can rise. There is no dearth of good opportunities with Fortune 500 companies if you get your degree or diploma from the top universities of the world.
Things to Remember Before Joining a BMS Program
- Go for psychometric testing to identify interests and capabilities – it will help you decide whether you are cut out to take on this professional course
- Sit down with a counselor to plan your career path – it will give you a clear idea of the course you need to do and the jobs you should pick up
- Always research the institute and go through their course structure before signing up for their program – always read reviews, and try to get in touch with alumni to know more about the course and institute
- Check out the BMS faculty of the college you are joining – how much experience do they have? What is their educational background? How do students respond to them on social media? All these will give you an idea of the suitability of the course.
Students across the country covet education, and understandably so. It is a getaway for a better life and lifestyle, and students get the opportunity to be employed by the top renowned brands in the world. However, choosing a career path depends largely on your attributes and interest, and if management is what interests you, then the BMS degree is the perfect launchpad.
If you are keen on upgrading your career with an MBA course, upGrad is offering the MBA(Executive) program in collaboration with the NMIMS Global Access School. The program has been designed to stand at par with the best on-campus Executive MBA programs across the globe.