Master’s in Business Administration (MBA) is a two-year postgraduate course that provides training to students in the fields of business and management. An MBA course has many areas of specializations such as Finance, Marketing, Human Resources, Operations, Business Development, among others. In recent years, MBA has become one of the most sought-after degrees, especially in an industrial nation like India.
In this respect, finding out the top MBA colleges in India is crucial for any student. There are many MBA colleges in India. Many such business schools provide a postgraduate diploma in management, also called a PGDM. Both MBA and PGDM degrees hold equivalent credits and provide a holistic professional training routine. What’s great about an MBA or PGDM is that you can have a graduate degree in any field, such as Social Sciences, Engineering, or Commerce. You will still be eligible to take up an MBA degree to further enhance your professional capacity. An MBA graduate is also likely to earn lucrative placements and high-end pay packages.
Various interrelated reasons have resulted in MBA colleges in India becoming extremely expensive. Some of the reasons have been discussed below:
- High competition in entrance exams
MBA entrance exams such as CAT, XAT, and GMAT are among the most competitive entrance exams in the world at the postgraduate level. The popularity of the courses and the opportunities available after it make MBA a highly competitive course. Although there are a few colleges where competition is low, India’s top MBA colleges are all extremely competitive.
- High pay packages after graduation
An MBA graduate is likely to get 25% more for a similar role than a person who only has a bachelor’s degree. This is one of the reasons why courses in top MBA colleges are quite expensive. Getting yourself an MBA degree allows you to explore the managerial and professional world and learn the organizational functions. This is one of the most important reasons an MBA graduate is expected to get a job before someone with just a bachelor’s degree.
- Best facilities for students
Top-tier MBA colleges in India have one of the most coveted infrastructures and modern facilities. The campus spaces are suitable for free-thinking and collaborative activities. The classrooms have state-of-the-art equipment. The hostels are incredibly conducive to provide the students a quality experience as well. Nowadays, these colleges have co-curricular centers and experiential learning modules as well. Needless to state, all of this comes at a high price.
- Reputation and prestige
Most of the top MBA colleges in India are highly ranked and rated by the leaders of the industry at large. This makes these B-schools quite a noble and elite space to be in. Hence, a few colleges also add a prestige charge to the overall fees for the course. Colleges such as IIM Ahmedabad, IIM Bangalore are well-renowned institutes internationally. And, there is an international alumni body that the students can engage with through these institutions.
If you want to pursue business or have the drive to become an entrepreneur, you need to know the ins and outs of how a professional setup works. You must know how to reach investors and consumers and the processes to manage your business assets and staff your enterprise. All of this is taught in a B-school. There are plenty of good MBA colleges in India; however, only a few of them are recognized globally as one of the forerunners of modern-day education. These may include the Indian Institutes of Management (IIMs), Xavier Labour Relations Institute (XLRI), Indian Institute of Foreign Trade (IIFT), among others. There are a few great private MBA colleges in India as well.
Check here ranking, placement, fees, admission, cutoff and eligibility of best MBA Colleges in India for 2021 at https://www.shiksha.com/mba/ranking/top-mba-colleges-in-india/2-2-0-0-0