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1. What is MBA?

An MBA (Master of Business Administration) is a graduate degree that provides a comprehensive study of business administration and investment management. The areas covered under an MBA program are diverse, including accounting, human resources, business communication, business ethics, and business law, to name a few.

The two-year professional program offers strong knowledge in the basics of modern investment and management, as well as a comprehensive learning experience while simultaneously honing leadership abilities to take one’s career to the next level. This is one of the primary reasons why an MBA is the most sought-after postgraduate professional course for aspiring managers.

A. About MBA

MBA stands for Master of Business administration.

The first-ever institute for MBA was set up in 1881 in the United States of America. The college was set up with the help of a donation by Joseph Wharton, which is why the college is now renamed The Wharton School of the University of Pennsylvania. Until the late 1900s, only universities in the USA offered MBA programs, while other countries believed in learning business on the job. The first institution to offer an MBA in Europe was INSEAD in 1957.

In recent years, the MBA has evolved with various types and specialisations of MBA programs now on offer in Europe. Students can choose to do a full-time MBA, part-time MBA, online MBA or even an executive MBA. Each of these options caters to different segments with different demands.

B. MBA Course Details

Candidates who have completed relevant undergraduate courses ( B.A. or B.Sc.) are eligible to apply for an MBA.

Aspiring MBA candidates should have a minimum of 50% score in their bachelor’s degree to apply for an MBA. However, renowned institutions require much higher scores. A good score in the GRE or GMAT is critical for admission. Successful candidates will have a higher chance of being admitted into the institution and programme of their choice.

C. Why MBA?

The demand for MBA has consistently been on the rise. Over 200,000 people appear for the GMAT test, while over 700,000 take the GRE. Why is an MBA in such high demand? How is an MBA helpful in securing a better career?

Let's dive into answering these questions.

Here are a few benefits of pursuing an MBA:

Why pursue an MBA?

Development of managerial skills
Different specialisations to cater to focused goals
Better placement and remuneration prospects
Strong peer network
Shaping entrepreneurship skills

1. Development of managerial skills: The objective of the MBA curriculum is to provide knowledge through case studies on how to manage and run a company. The syllabus also covers accounting, investment management, leadership abilities, marketing, and finance, among other things.

2. Different specialisations to cater to focused goals: MBA offers various specialisations that help candidates to focus on an area of interest. MBA Finance, MBA HR, MBA marketing, and Business Analytics are among the many specialisations offered by the MBA program.

3. Better placement and remuneration prospects: As per the reports, almost every person with an MBA degree gets a pay raise soon after completing the program. Most MBA colleges offer complete placement assistance to help the students secure a job in their dream companies. The salary offered to an MBA graduate is much more than those without an MBA degree.

4. Strong peer network: Apart from placement and salary, MBA institutions facilitate their candidates to have valuable interactions with their peers and alumni to share knowledge and bond. The connections provide good leverage when securing a job in a good company through referrals.

5. Shaping entrepreneurship skills: Candidates from a business background with valuable experience can start their own business and put their knowledge to action. MBA provides the much-required confidence and exposure to become successful entrepreneurs.

D. Who should do an MBA?

An MBA degree comes with many advantages, mainly if it is acquired from one of the prestigious institutions. It helps in securing a high-paying managerial job and elevating one's career. Let's look at who benefits from pursuing an MBA degree:

Students who wish to work in an industry different from their area of graduation. As students from all backgrounds are eligible to apply for MBA, it could be the best option to switch over to a different arena.
Candidates aspiring to secure managerial positions and wanting to become decision-makers for a company should have an MBA degree.
People aiming for a commendable hike in their salary should opt for an MBA.

E. When to do an MBA?

While an MBA does not specify an age limit, students who pursue the degree are typically in their mid-to-late-20s. Ideally,

Candidates with 1-2 years of work experience should pursue MBA as the graduate degree can prove to be a game-changer in their careers.
Students with 4 to 5 years of work experience can opt for an executive MBA degree.

2. Types of MBA

A. Online MBA

As the name suggests, the MBA program is offered through an online platform instead of a classroom. While the curriculum and duration of the platform remain the same for online and offline MBA, online MBA programs are cost-effective and flexible when compared to offline MBA programs. The greatest advantage of opting for an MBA online course on upGrad is the luxury of learning from one’s comfort zone without compromising on their existing commitments. Many renowned institutions provide online MBA programs. So, the choice can be made according to an individual's interests and requirements.

B. One Year MBA

One year MBA program is designed for working professionals with over four years of experience who wish to take up an MBA in part-time or distance mode. Like IIM Ahmedabad (MBA -PGPX), several top MBA colleges in India offer one-year MBA programs. One year MBA programs offer multiple specialisation options for focused learning. The course is comprehensive and follows the curriculum of the 2-year program. Hence, students should remember that a one-year MBA is fast-paced and demands immense dedication and commitment.

C. Full Time (2 Year MBA)

Identifying career goals is essential for an MBA pursuit. Failing to do so will result in incomplete learning and networking during the MBA program. The benefits from pursuing a full-time 2-year online MBA course on upGrad will be immense, but it is crucial to analyse all financial and career commitments before taking the plunge.

A full-time online MBA course on upGrad (2 years program) lasts for four semesters distributed across two academic years. The first year will cover the general course requirements, and the second year gets deeper into the multiple disciplines, allowing candidates to choose their area of interest. A full-time online MBA courses on upGrad MBA offers an invaluable opportunity to connect with ambitious, smart, and enthusiastic professionals with a solid academic and professional background.

D. Part-Time MBA (Executive MBA)

A part-time executive MBA is specifically designed for working professions who wish to take a major leap in their career while focusing on their job simultaneously. The executive MBA (EMBA) duration is 15 to 24 months. Professionals with business/management experience are most suitable for the program. An EMBA program is a fast-paced expert-level MBA program primarily focused on enhancing leadership, critical thinking, and managerial abilities in working professionals.

Here are some advantages of pursuing an online MBA degree:

Why Online MBA?

Greater flexibility
No time constraint
Wider peer network and global opportunities
Exposure to interactive multimedia tools
More affordable

1. Greater flexibility: Since an online MBA includes both synchronous and asynchronous learning, it allows for better time management, especially if you are juggling work responsibilities on the side.

2. No time constraint: The entire coursework is provided online, and so the candidates have the flexibility to opt for a convenient time slot for studying. The course modules, assignments, course sessions are available online and can be accessed from any part of the world.

3. Wider peer network and global opportunities: Students from any corner of the globe are eligible to apply for an online MBA degree, and this allows connecting with peers across the world and having a wide network.

4. Exposure to interactive multimedia tools: Online tools like Hootsuite, Woorank, Skype for business are becoming more popular day by day. Online learning employs a variety of interactive multimedia tools and provides the candidates with practical exposure to working with these tools.

5. More affordable: The online MBA on upGrad opens doors to pursue an MBA at top B-schools worldwide at significantly lower fees—which is an undeniable upside where financial decisions are concerned.

3. MBA Admission Process

It should be divided into online and offline

Online Admission Process

Applying for an online MBA is simple and straightforward. Here are detailed steps/admissions process to initiate the MBA online course on upGrad:

Step 1: Find your desired MBA course on upGrad and fill the application form online
Step 2: Undergo profile evaluation by the admissions team and get shortlisted
Step 3: Receive the offer letter
Step 4: Pay a deposit and block your seat
Step 5: Pay the balance of the course fees for your MBA course on upGrad.

Offline Admission Process

Step 1: Take the GMAT, GRE or equivalent MBA entrance exam.
Step 2: Apply to and go through the individual school’s admissions process including submission of test scores, academic record, work experience, etc
Step 3: Attend interviews which might include Group Discussion, Written Tests and Personal Interviews
Step 4: Receive the offer letter
Step 5: Pay course fees and secure your seat.

Skill Required for MBA

Interpersonal skills
Communication skills
Leadership skills
Devising and executing strategies
Entrepreneur skills

Below is a list of core skills that employers seek in MBA graduates:

1. Interpersonal skills: Also referred to as the soft skill tops the list of most wanted MBA skills, interpersonal skills include verbal & non-verbal communication skills, being assertive, listening skills, negotiating abilities, problem-solving, and decision-making skills.

2. Communication skills: This is another vital skill as MBA graduates deal with different types of people. MBA graduates must have impeccable communication skills to communicate effectively with their colleagues, clients, employers, etc., to have a hassle-free work environment, and also to deliver ideas effectively.

3. Leadership skills: Managers are the vital force that builds and sustains a team and ensure smooth performance from all the team members. As MBA graduates are meant to occupy managerial positions, leadership skills are a must.

4. Devising and executing strategies: Planning and executing strategies are crucial for the success of any business venture. Strategising a business is no simple deal since it involves a thorough knowledge about the business goals and also identifying & analysing potential competitors.

5. Entrepreneur skills: MBA graduates must have good decision-making skills that are essential for the success of a business. As the MBA program covers the fundamentals of all aspects needed to run a business, MBA graduates develop good entrepreneurial skills and are more likely to start their own business ventures.

Eligibility Criteria for MBA Admission

The eligibility criteria might vary from one institution to another but there are a few common grounds that MBA admission is based on:

Students should have a Bachelor’s degree with a minimum equivalent of a 2:1. Some institutions will accept a 2:2.
Certain MBA programmes require some work experience, often between three and ten years depending on the programme.
Students will also need to score well in entrance exams like the GMAT and GRE.
If you’re an international student whose first degree was not taught in English, you will also require an IELTS test.

4. MBA Syllabus

MBA Subjects:

MBA curriculum is based on the specialisation students opt for. The subjects covered under respective specialisations are as follows:

1. MBA in Banking and Finance

Principles of Management
Human Resource Management
Managerial Economics
Research Methodology for Management
Financial Reporting & Analysis
Operations Management
Marketing Management
Accounting Management
Organizational Behavior
Corporate Finance
Quantitative Techniques for Management
Principles and Practices of Banking
Managerial Communications
International Business
Operations Research E-banking
Ethics and Moral Value
Entrepreneurship & Small Business Management
Bank Marketing
Risk Management in Banks
Financial Markets and Services
Human Capital in Bank Management
Strategic Management
International Financial Management
Insurance Products and Management
Technology in Banking, CRM and Retail Banking

2. MBA in Marketing

Managerial Economics
Statistical and Quantitative Methods
Marketing Management
Global Business Management
Business Laws

3. MBA in Digital Marketing

Introduction to Marketing Strategies
Social Media Marketing
Brand Planning and Marketing
Digital Advertising
Business Planning
Web Analytics
Affiliate Marketing
eCommerce Marketing
SEO, SEM
Campaign Growth and Evaluation

4. MBA in Supply Chain Management

Management concepts
Business Research Methodology
Business Environment
International Logistics Management
Managerial Economics
Quantitative Methods
Shipping and Maritime Law
Financial Management Accounting

5. MBA in HR

Management Process and Organization Theory
Entrepreneurship Development
Accounting and Finance
Human Resource Information System
Human Resource Planning and Development
Managerial Communication and Skill Development
Quantitative Techniques in Human Resource Management
Corporate Social Responsibility and Business Ethics
Economics of Human Resources
Cross Culture and International Human Resource Management

6. MBA in General Management

Principles of Management
Financial Management
Business Environment
Human Resource Management
Marketing Research
Leadership skills
Customer Relations Management
Business Fundamentals
Retail Management
International Business development
Basics of Accounting

5. Top MBA Specializations

There is a rising demand worldwide, especially in the Europe, Middle East and Africa region for specialized master’s degrees.

Following are the topmost sought after MBA specializations in 2022:

a. MBA in Finance: MBA with specialization in finance is a top choice by those aspiring to become leaders in finance management, Corporate financial planning, Corporate acquisitions & mergers, accounting, banking, and so on. MBA in finance is primarily chosen by those candidates with commerce, science, engineering, or CA/ICWA/CS background. There is no upper age limit for MBA Finance admission. A full-time regular MBA program offers the choice of specialization during the second year of the course while the specialized MBA program facilitates this choice in the first year itself. It is important to decide whether to wait till the second year or go with a pre-decided specialization from day one.

b. MBA in Marketing: Marketing in MBA is the most sought-after specialization as the demand for MBA graduates with sales and marketing skills will never go out of demand. Candidates aspiring to hone their skills in consumer behaviour, sales management, product development, branding, market research, communication, advertisement, digital marketing, and so on opt for this specialization. Candidates highly skilled in mathematics, communication, marketing, reasoning, analytical, leadership, and problem-solving are ideal for this Marketing MBA program. Specialization in Marketing can be chosen in the second year of the full-time MBA program.

c. MBA in Human Resource Management (HRM): Managing and retaining a talented human resource pool is a tough challenge for most companies, which makes this specialization more valuable. MBA in Human Resources is becoming more crucial every year in the corporate and industry sector. MBAs in HR are mainly hired to put their skills in hiring, managing, and retaining talented professionals. The primary focus of an MBA in HRM is to enhance the critical skills, knowledge and negotiating abilities of the candidates. These attributes are essential for becoming a successful HR manager.

d. MBA in Systems and Operations: Organizational ability is the key to effective distribution and production. Specialization in systems and operations focuses on developing organizational strategy, planning, and supervising abilities to produce an effective output with the help of technology. Specialization in Systems and operations is consistently growing in demand with the rapid growth in the manufacturing and services sector in the country. A wide variety of industries like automobiles, engineering, heavy industries, iron, steel & other metal industries, chemical, services, etc., hire MBA graduates specialized in services and operations with a lucrative remuneration.

e. MBA in General Management: A general MBA, also known as an MBA in general management (GM) is a program that offers a comprehensive study of all aspects of management. The curriculum of the program is designed in such a way that the first year of the program focuses on the overall management techniques and the second year focuses on the chosen area of interest. Students pursuing MBA in General Management learn all the essential management skills like critical thinking, reasoning, business, management, leadership, etc. It offers a wide range of prospects and career opportunities in comparison to specialized MBA programs. Candidates are offered the convenience to choose their electives, making the course more flexible and student-friendly.

6. How to do an MBA in Europe

Here are the steps to follow to pursue an MBA in Europe

Step-by-Step MBA Admissions Process in Europe

Step 1: Register and take the GRE, GMAT or equivalent
Step 2: Take the IELTS or TOEFL (unless exempt)
Step 3: Apply to the MBA programme in your shortlisted school
Step 4: Appear for Final Admission Rounds

1. Register and take the GRE, GMAT or equivalent: These tests measure a student’s logical and reasoning ability as well as specific skills that will make it likely for them to attain success.

2. Take the IELTS or TOEFL (unless exempt): Your ability to communicate effectively in English is essential in order to do well in an MBA.

3. Apply to the MBA programme in your shortlisted school: Based on your exam scores, work experience, and other factors, you'll be eligible to apply at select universities around Europe

4. Appear for interviews: Most MBA programmes require applicants to undergo a few rounds of interviews to assess their suitability for the programme.

7. Study MBA in Europe

a. United Kingdom (UK)

The UK is among the top MBA destinations in Europe, with students seeking admissions in UK universities for their quality of education. With course curriculums focused on a variety of specializations, an MBA from the UKi can open doors to the corporate world. Some of the best MBA colleges in the UK are:

London Business School
University of Oxford: Saïd Business School
University of Cambridge: Judge Business School
Imperial College Business School
Warwick Business School

b. France

France offers numerous avenues for pursuing a Master of Business Administration (MBA) in various fields. Students can opt for any one of the following universities for a goal-oriented education:

HEC, Paris
INSEAD
Essec Business School
Edhec Business School
IESCP Business School

c. Germany

Germany is another popular destination for pursuing MBA education for lucrative placements and growth opportunities. Some highly ranked MBA colleges in Germany are:

ESMT Berlin
WHU - Otto Beisheim School of Management
Mannheim Business School
Frankfurt School of Finance and Management
HHL Leipzig Graduate School of Management

d. Spain

With a world-class curriculum that is designed for focused learning and imparting problem-solving, research and analytical skills, MBA colleges in Spain are among the preferred B-schools in Europe. Among the top B-schools in Spain are:

Iese Business School
IE Business School
Esade Business School
Eada Business School, Barcelona
University Carlos III de Madrid

e. Switzerland

Switzerland is known for its top-quality MBA education and excellent learning experience, making the country one of the preferred destinations for pursuing an MBA degree. Among the most reputed management colleges in Switzerland are:

IMD Business School
HEC Lausanne, University of Lausanne
University of Zurich
ZHAW school of Management and Law

f. Netherlands

With many MBA universities and colleges, the Netherlands is one of the prime locations for students looking to acquire an MBA education. Some of the Top MBA institutions in theNetherlands include:

Rotterdam School of Management, Erasmus University
Tias Business School, Tilburg University
Nyenrode Business Universiteit
Maastricht University School of Business and Economics
Tilburn University, School of Economics and Management

8. Study MBA Abroad

Getting an MBA from a foreign business school is a popular choice among students in India, given the networking opportunities and all-round growth potential in international education. Let's look at some of the benefits of pursuing an MBA from a foreign country:

Why Study MBA Abroad

Higher salary packages
Lucrative career opportunities
Extensive networking and collaborating prospects
Gain new-age skills
Acquire practical know-how

1. Higher salary packages: The US, UK, Canada, Australia, New Zealand, and Ireland are some of the most sought after countries for students eyeing an MBA degree. It is a known fact that certifications from recognised B-schools at these locations attract higher salary packages than Indian B-schools.

2. Lucrative career opportunities: Students can land high-end CXO positions or pursue entrepreneurial roles at some of the top firms worldwide.

3. Extensive networking and collaborating prospects: An international MBA exposes you to fellow students from diverse backgrounds having extensive experience and varied skill sets in their respective fields, which unveils the potential for promising collaborations.

4. Acquire practical know-how: Students are taught advanced management skills applicable on the world platform and are exposed to new-age business problems.

It should be kept in mind that some of the top universities globally require a minimum of 3 to 4 years of experience for MBA programs. This is in addition to the 4-year bachelor degree in a relevant field from a recognized university.

1. The UK: Students require a minimum of a 3-year bachelor's degree and 3 years of managerial experience to pursue an MBA in the UK.

2. The US: Students should have completed 16 years of education in total in addition to a bachelor's degree. To pursue an executive MBA, one must have a minimum of 2 years of working experience.

3. Canada: Most universities in Canada ask for a 4-year bachelor's degree in a recognized field. However, some B-schools also require a minimum of 3 years of managerial experience.

4. Australia: Depending on the university one chooses, they must possess managerial experience of 2 to 3 years in addition to a 3 to 4-year bachelor’s degree.

Students aiming to pursue an MBA from abroad can appear for GMAT and GRE tests, which are held on a rolling basis and students are allowed to pick their preferred exam dates based on their convenience and readiness.

9. MBA Colleges Ranking

Before students pick a university to pursue MBA from, it is important to review the respective college's international accreditations, course curriculum, worldwide ranking, scholarship programs, cost of study, amenities, etc.

Here are some of the top MBA colleges to consider when deciding your career path:

Best MBA Universities Worldwide 2022:

Stanford University (#1 in Best Business Schools)
University of Pennsylvania (Wharton) (#2 in Best Business Schools)
University of Chicago (Booth) (#3 in Best Business Schools)
Northwestern University (Kellogg) (#4 in Best Business Schools)
Harvard University (#5 in Best Business Schools)

Best MBA Universities in Europe 2022 (according to Financial Times)

INSEAD, France
London Business School, UK
Iese Business School, Spain
HEC, France
SDA Bocconi/Universita Bocconi, Italy

Best Online MBA Universities 2022:

Deakin Business School (DBS) (Australia's Top B-School | AACSB + EQUIS Accredited)
Liverpool Business School (UK's Top B-School)
Chandigarh University (#45 NIRF Ranking 2021 Position)
Jindal Global Business School (University Institute of Eminence by UGC | E-learning excellence from QS IGAUGE)
NMIMS Global Access School (AICTE Approved NAAC A+ Grade)
IMT Ghaziabad (India's Top B-school)

10. MBA Jobs & Placements

A. Career Options after MBA

Among the top career options available to MBA graduates are:

1. Investment Banking: A highly sought-after role among MBA graduates is that of an investment banker, where they remain at the forefront of an organization, managing their financial models and investment plans. Investment banking falls under banking and finance alongside lucrative job roles of portfolio management and investment analysts. Skilled personnel in this field earn an average salary of £150,000 to £200,000 per year.

2. Management Consulting: Another popular choice among MBA students is management consulting where individuals are responsible for resolving in-organization challenges. Management consultants earn an average salary of £70,000 per year.

3. Data Analytics: Given the rapid growth in data usage worldwide, there is a huge demand for data analysis and management officials in data analytics. Students with an MBA in the respective field can influence decision-making in retail, eCommerce, etc, and are paid an average salary of £84,500 per year.

4. Entrepreneurship: More and more MBA graduates are opting for entrepreneurship roles today, given an MBA provides an all-round knowledge of business and management, and makes aspirants future-ready.

5. Human Resource: Human resources managers implement policies and procedures centred around employees of an organization, and are thus indispensable for any company. The average human resource salary is £57,969 per year.

B. Top Recruiters

Among the top recruiters of MBA graduates as per the GMAC report are Fortune Global 100 companies that encompass healthcare, finance, HR, energy, and consulting industries. Some globally recognized companies that constantly hire MBA graduates are Amazon, McKinsey, JP Morgan, Google, Deloitte, Accenture, Microsoft, TATA Consultancy, Cognizant, Wipro, Infosys, to name a few.

In addition to this, for-profit public companies and large corporations have a considerable requirement of MBA graduates. Even smaller companies, non-profits, and promising startups actively seek MBA graduates to acquire leadership in their industries.

C. Salary after MBA

As is understood, MBA graduates stand to earn higher salaries than individuals with bachelor degrees — which is one of the primary reasons why students opt for higher education after amassing necessary work experience. Based on the specialization students choose, your salary after MBA will vary.

The starting salary of an MBA graduate in the UK is approximately £80,000 or more. The high-end salaries are usually offered to graduates from top colleges like LBS. Thus, as you can see, there’s a wide range in the starting salary of MBA graduates.

It's worth mentioning that an MBA significantly accelerates growth potential and helps professionals climb up the corporate ladder faster.

D. Employment areas

MBA graduates can pursue high-profile jobs in a wide range of fields including investment banking, finance, entrepreneurship, management consulting, product management, human resource, etc. Here are the top sectors for MBA graduates to seek employment opportunities:

Business Analytics
Sales and Marketing
Banking and Finance
Human Resources
Information Technology and Systems
Private Equity
Entrepreneurship
Healthcare
Retail
International Business
Supply Chain

Disclaimer

Deakin University is among the Top 1% universities as per ARWU 2020.
Past record is no guarantee of future job prospects.
NMIMS Global Access is India's largest EdTech university as per executive.nmims.edu.

Advance your career with a business course from top 1% global b-schools

DBA | MBA | Professional Certificates

Featured Programs for you

Still Not sure? Talk to our Expert Mentors

Transform your career with these services

Because words aren’t enough, we let numbers do the talking. 🙌

Why pursue an MBA?

Online Admission Process

Offline Admission Process

MBA Subjects:

1. MBA in Banking and Finance

2. MBA in Marketing

3. MBA in Digital Marketing

4. MBA in Supply Chain Management

5. MBA in HR

6. MBA in General Management

a. United Kingdom (UK)

b. France

c. Germany

d. Spain

e. Switzerland

f. Netherlands

Why Study MBA Abroad

Best MBA Universities Worldwide 2022:

Best MBA Universities in Europe 2022 (according to Financial Times)

Best Online MBA Universities 2022:

A. Career Options after MBA

B. Top Recruiters

C. Salary after MBA

D. Employment areas

Disclaimer

Advance your career with a business course
from top 1% global b-schools