What is an MBA?

An MBA is a post graduate degree in Business Administration MBA stands for Masters of Business Administration and is a very popular course for business students the world over. The MBA program is recognized worldwide and is considered as a major step towards a successful business management career.

I want to do my MBA from India's top B-school. But why should I focus only on the IIMs?

IIMs are India's premier institutes. They are far beyond all other B-schools with respect to infrastructure, placements, faculty, learning environment and campus recruitmerent. But, everyone can’t go there, and the number of people taking the CAT each year is only increasing, hence it is extremely important to also apply to other B-schools which are among the top institutes of country. For this you can refer to Top-B-Schools.

I'm interested in pursuing an MBA degree but at 41, am I too old for many schools to consider.

Well, you are never too old to study so your age shouldn't stop you from pursuing an MBA. The only question you need to ask yourself is, do you need a full-time MBA or will a part-time program fulfill your need.

How many years of work experience is sufficient?

Usually 2-3 years of work experience is sufficient. B-schools have started a trend of lateral placements where students with 2-3 years of work experience get placed even before their regular placements.

I have done my diploma. Can I apply for an MBA?

MBA, being a master's degree, requires the aspirant to be a graduate. That means, you must have a Bachelor's Degree from any university incorporated by an act of the Central or State government of India, any other educational institution established by an act of Parliament or any institution deemed as such under section 3 of the UGC Act 1956. Your Bachelor's Degree or equivalent qualification must have covered a minimum of three years of education after completing higher secondary schooling.

What if I have no extra-curricular activities to talk about?

Well, you are never too old to study so your age shouldn't stop you from pursuing an MBA. The only question you need to ask yourself is, do you need a full-time MBA or will a part-time program fulfill your need.

Can I get my MBA in specific concentration?

Most MBA programs offer a wide range of electives that allow students to tailor their education after completing the first-year' core curriculum. The degree awarded, however, is an MBA. Many schools now offer other Masters programs with a very specific course content, such as MS in Information Technology in.

What extra do I need to put in?

Cracking entrances is all about getting your basics right as fundamentals are fundamentals of success. Apart from that, practicing exercises like speed-reading, mental calculations, purring some reasoning questions and random Maths calculations can also help you. Do eclectic reading like the editorials of a newspaper, practice formulae and you will be playing a totally different ball game.

Will I get financial aid for my education?

Most B-schools do not offer financial aid. IIMs are the only B-schools that have a policy of not denying any deserving candidate admission due to lack of funds. However, it is still easy to get financial aid for doing an MBA, especially if you are going to any of the top ten B-schools. Banks are willing to give student loans to aspiring MBAs and you have to repay these only after you start working. Considering that you will be going to a top B-school, finding a high paying job should not be difficult at all. For further details look at Educational Loans.

Please tell me the requirement of Maths knowledge for CAT.

If your knowledge of Maths is of class X, it is important that you know even this much very well. The concepts that you need to deal with are number systems, profit and loss, geometry, algebra, progressions, time and work and so on. All of these are concepts that you can work on and master if you set your mind to it. However, do not run away from Maths. If you are scared of the QA portion, it would be a good idea to start your preparations early and build strong foundations.

Does work experience make a difference?

Let’s put it this way. Work Ex. is not a negative. Depending on the profile the profs are looking for, it could be a positive. Only the preparation will differ slightly.
Students with work experience do have a psychological edge in the interview as their interviews tend to focus predominantly on their work (which they should know) whereas fresher interview focus more on academics (not everyone’s strength!).

What will I gain from doing an MBA?

An MBA program strives to equip its students with all the necessary knowledge, theoretical as well as practical, which can benefit them tremendously in managerial and administrative jobs. This does not apply only to business, as is usually understood by most people, but can also benefit people to get into executive positions in the public sector and government jobs as well.

What is the weightage given to CAT scores, GD and PI?

No one knows for sure, except of course the professors themselves. You have enough to worry about as it is, so leave weightages alone. Just put in your best at every stage.

How important are my application forms?

It is very important to be honest in your application forms. Do not fill any information that is untrue. Certain questions in the forms ask you about Career Goals, Strengths, Weaknesses, etc. They are deliberately there to help the B-school know a little bit more about you and are often referred to during the interview. It is highly recommended to keep a photocopy of every form that you fill so that you can revise what you have written before the interview.

What are the pros and cons of part-time MBA?

Opt for a part-time MBA only if the income that you earn forms a significant part of your or your family's livelihood. Part-time MBAs is ideal for those who have a considerable amount of work experience and are now looking at moving up the corporate ladder. It is also for those who don't want a drastic change but want to move ahead in their existing line of work or want to know more about management.

What if I don't get into an IIM? Should I settle for another B-school or take the CAT again?

It depends on what you settle for. There are other institutes such as MDI Gurgoan, SPJain Mumbai,, IMT Ghaziabad and TAPMI are some good CAT allieds. There are some other important entrance exams like

Are graduates from premier colleges get weightage?

No. It is not like this. But if you are a fresh graduate a strong foundation knowledge of academics is required. You get into a B-school on the basis of your performance in the entrance exams conducted by the B-schools themselves.

I am weak at Maths. Can I score in the entrances?

Different entrances test you on different parameters. CAT and JMET give a lot of weightage to mathematics.
If you wish to crack these tests, you need to work towards improving your school mathematics. And like the wise say, Practice makes the man perfect. If Maths is a concern area for you, it is highly recommended that you join a classroom program as soon as you take a serious call on whether you want to take CAT. Regular practice under experienced eyes is required.

What job or company does business schools prefer?

Schools welcome applicants from a wide variety of backgrounds, consulting or industry, public or private, profit or non-profit. The MBA education which conveys a fundamental business concepts and skills, itself is suitable for people with very different backgrounds. Every year, business school recruits a significant portion of non-traditional candidates with technical, scientific, medical and even military sectors. This complies with today's highly diverse business environment.

What skills will I master in MBA programme?

You will learn a range of valuable skills from the MBA program, such as:

Leadership Abilities: An MBA degree involves rigorous training, assignments, reports, presentations, and group projects, all of which give you the necessary abilities to handle real-life business situations. This helps to set you apart from those who do not have such expertise and can make you a leader in your chosen field.

Networking: The alliances that you form with your classmates and the network that you create is deemed as one of the most important and valuable things that an MBA program can give you. MBA graduates have often felt that the associations formed during the MBA course are resources that are invaluable and can be drawn upon for years after the MBA degree has been achieved.

Business Knowledge: The MBA program and business schools give you valuable knowledge about business and all its related aspects. You learn about business strategies and concepts, not just on paper, but the training and internship required in an MBA course, teaches you how to use these skills in practical life and in day to day business operations.

Will an MBA improve my career prospects?

An MBA degree provides you with innumerable career opportunities in various fields. It is especially beneficial to get jobs in high level positions such as managerial and executive level jobs. Whether you are looking to further your career in your existing job or are looking to change your job and start your career afresh, an MBA degree can be very valuable in either scenario.

With an MBA degree under their belt, employees have a whole new world opened up to them and are elevated to managerial positions on the strength of the additional abilities and knowledge gained through the MBA program. If you are looking for a change in careers, an MBA degree can be invaluable in careers such as:

How much of the English portion should I attempt in CAT? I am not very strong in English?

If you are not strong in English, you should attempt at least 35 questions - English cut-offs are typically higher. Unlike Maths, you need to score at least 25 in English. I suggest you do the EU portion and at least one passage with as many direct questions as possible. While preparing for CAT, read as much as possible, and speak in English. The only way to become proficient in a language is to use it.