Why MBA after Btech every engineering graduates ask this questions. MBA, a degree which no doubt provides you a challenging job in an MNC with lots of money, status and glamour has much more to it than just this. If you’re looking forward to pursuing MBA, it’s essential for one to understand the core need and requirements for the same.
Master of Business Administration is a Masters’s degree in Management. The need for MBA originated in the United States when the country moved into industrialization during the late 19th century. Due to the increase in the level of industries in the market, the need for a scientific approach to manage these industries arose. Though MBA courses focus on various areas such as accounting, finance, marketing, operations, and so on, their core idea is to focus on management analysis and strategy.
So, if you’re wondering if an MBA degree is the right path for you, the answer is simple. If you can concentrate on managing a particular industry or MNC and provide them with innovative and creative ideas for their better functioning and provide appropriate solutions at the time of a crisis, you’re meant for it. Being young, creative, and innovative at the time of graduation and having a bit of work experience in your bag, gets you prepared in a better manner for a specialized field.
Now that you know if MBA is suited for you, it is also essential to look into the specific requirements for pursuing the same. Since there are several institutions offering MBA courses, each has their own specific criteria. Although it isn’t possible to list out each of these criteria, it is important to know some of the most common admission requirements that you may come across.
There are three major areas that you need to look into prior to applying for an MBA- pre MBA requirements, application requirements, and acceptance criteria.
- Since MBA is a master’s degree, it is mandatory to have a bachelor’s degree. Although MBA courses do not specify for a particular field in bachelors, if you have one in the business field, you fill up one of the pre-requisites. In case you have a degree in any other field, MBA programs require you to complete a number of prerequisite courses before you start. The number of courses varies among universities. Further, an admission test is mandatory for applying. GMAT and CAT by far is the most common admission exam. As far as work experience is concerned, top MBA colleges prefer candidates with full-time work experience post-graduation as they tend to have practical knowledge of the market they wish to specialize in.
- Now comes the application requirements. At the time of applying to a university, they usually require an application form, official transcripts from each of the colleges you have attended, test scores of the admission test (GMAT or CAT), work resume, letter of recommendation (from previous professors or employers, 2-3 in number) and application essays or statement of purpose (stating why you wish to pursue MBA).
- Lastly, comes the acceptance criteria. While some institutions prefer strong GPA and application scores, others prefer work experience and LOR’s. The best way to understand the specific requirements is by looking at the admission statistics which will give you an idea of the type of students they accepted in the recent past.
Once all the above criteria are met, you must also be aware of the possible job opportunities after an MBA as this helps you nurture your career interests.
- Banking and Finance– This field mainly deals with security and investment analysis where a professional is required to make the right choices about investment. Related job profiles can either be from major MNC’s like JP Morgan or even commercial and govt banks like ICICI, SBI, and so on.
- Information system Management- This field mainly focuses on the use of up-to-date technologies which not only serve an organization in a better manner but also deal with cost-cutting and better utilization of its finances.
- Investment banking- This deals with providing investors from the market to organizations that require funds. An MBA graduate’s role is to not only find the one but also understand the needs of the client and organization and also be involved in acquisitions and mergers.
- Apart from the above-mentioned three major fields, one can also opt for management consulting, private equity, data analytic, entrepreneurship, and so on.
All MBA courses give students exposure to all fields which helps them understand their field of interest in a better manner so as to help them choose a specialization in the second year. So even if you’re confused regarding the major, universities understand your trouble better and have sorted out this section out for you. If you are an MBA aspirant and fit the above categories, go right ahead!