The field of management has emerged out as one of the most popular career choice among students today. However, there are various types of management courses that are taught in different modes such as Regular MBA, Part-time MBA, distance learning MBA, Executive MBA and Online MBA. The current scenario is such that majority of young graduates want to pursue an MBA degree. But, when it comes to deciding which specialisation and what mode they are faced with dense clouds of confusion.
There are many factors that come into factor when considering which MBA course is best suited to you, before venturing to pursue any management course. Like for example, for a working professional, Executive MBA is more beneficial as it is a one year course that is designed specifically for people with quite a few years of work experience.
So, if you are one of those people who wish to pursue a management degree but confused as to which what type or kind would be best suited for your needs, then this article might help you answer some of your queries and make a well-informed decision.
TYPES OF MBA DEGREE
What is the difference between PGDM & MBA?
'What is the difference between an MBA and PGDM' is one of the most often raised queries of MBA aspirants. And not to mention that it often leads to a lot of confusion among students. According to Indian university rules, only registered and recognized Universities are allowed to offer post-graduate masters degrees while all other institutes that do not enjoy affiliation of any university can offer only post graduate diploma degrees. This is where the problem of MBA v PGDM originates.
MBA translates to Masters of Business Administration, which is a post-graduate master’s degree and, therefore, it can only be awarded by a college or an institute affiliated to a recognized Indian university.
PGDM translates to Post Graduate Diploma in Management, is a post graduate level diploma degree and can be awarded by institutes that do not enjoy affiliation of any university. However, most of the top ranked B-schools such as the IIMs are not affiliated to any universities and, therefore, offer PGDM degrees that are considered to be equivalent to MBA degrees.
How to select specialization subject for MBA?
With the diversification of MBA programmes, several new and innovative specializations options have come up for students to choose from. It has been noticed that majority of the students pick their specialization on the basis of external factors like general trends, market condition, job prospects and preconceived notions of following the herd mentality. However, this is utterly wrong and can hurt your career in the long run.
When it comes to choosing the right MBA specialization, there is no golden rule to follow. Most of the MBA programmes are structured in such a manner that the first year is dedicated to generic training in management concepts and in the second year the students have to choose their specialization. This is done mainly to acquaint MBA students with different specialization options available to them and help then evaluate, which option does really appeal to them as a career choice.
At the end of the day, picking an MBA specialization is a personal choice and should be done on the basis of your passion and interest. Your specialization is going to build your career path, so be careful and think thoroughly before making a choice.
Is online MBA worth it?
There has been growing interest in the online MBA programmes in India. With several reputed institutes offering such programmes, students often found online MBA programmes easier as compared to the traditional on-campus programmes. Online MBA courses come with their own share of advantages and disadvantages. They are comparatively cheaper with an easier admission process and virtual classrooms make it easy for working executives and homemakers to opt for such programmes despite other professional or personal commitments. On the other end, online MBA programmes in India are still in a nascent stage and are not widely accepted by recruiters at par with the regular or even part-time on-campus MBA programmes.
So, if you are looking at MBA degree as primarily an academic addition to your educational profile, online MBA degrees are a good option. But don’t opt an online MBA programme thinking it would land you a great job in a top company.
DISTANCE LEARNING MBA
Is it good to do MBA from distance education?
MBA is often considered a mandatory requirement for career progression and working professional opt for distance MBA programmes to gain necessary academic qualifications required to fulfill this criteria. Both distance and full-time MBA programmes follow a similar curriculum and same teaching methodology and, therefore, are equal in terms of subject knowledge. While full-time MBA programmes are still considered to be the best, distance MBA programmes have seen growing acceptance among recruiters.
What is the procedure to do distance learning in MBA?
Different MBA institutes follow different admission procedures for MBA distance learning courses. While some reputed MBA institutes are known to screen students through tests for admission to distance MBA programmes, some others offer direct admissions on the basis of previous academic track record. However, the common academic eligibility for the programme is of a Bachelor’s degree from a recognized university. You will have to check with the respective institute to find out the exact eligibility criteria and application procedure for MBA distance learning course.
GENERAL AND EXECUTIVE MBA
What is the difference between General MBA and Executive MBA?
With the increasing popularity of MBA programmes, the format in which this course is offered has also undergone server diversification. Today, MBA aspirants can opt for General MBA, Part-Time MBA, Distance MBA, online MBA and Executive MBA.
The General MBA Programmes offered by different institutes are conventional full-time 2-year MBA programs for which admissions are offered immediately after graduation.
Executive MBA Programmes, on the other hand are tailored for working executives. Candidates keen to join Executive MBA programmes need to have relevant amount of work experience (generally 3 to 5 years) in order to be eligible for admission. Executive MBA courses are pursued by working professionals along with their current jobs and, therefore, classes are generally held on weekend or non-business hours of the day. These programmes are also tailored to meet requirements of working executives and, therefore, focus more upon practical aspect and development of business leadership and managerial qualities among the students. Executive MBA programmes also tend to be more expensive compared to general MBA.
Which are AICTE approved MBA colleges?
Every year AICTE releases state wise list of colleges that are approved and accredited to offer MBA and PGDM programmes. You can find the list on the official website of AICTE: http://www.aicte-india.org/
ASSISTANCE FOR STUDENTS
What are scholarship options for MBA students in India?
Different management institutes offer several scholarships schemes to meritorious students keen to pursue MBA programmes. The most popular among them include:
Amity Business School: Candidates applying to ABS for MBA programmes are eligible for 100% scholarship if they have scored 93% marks in Class 12 exam or above 80% marks in graduation. In addition to this, ABS also offers 50% scholarship to students who have scored 88% aggregate marks in Class 12 exam or 75% marks in their graduation.
Indian Institute of Management, Ahmadabad: IIMA offers need-based scholarships to economically weak students who wish to pursue the PGP and PGP-ABM from the institute. The most popular among them is Family Income Linked Tuition Fee Waiver Scheme application for students whose family income in last financial year does not exceed Rs. 6 lakh.
Indian Institute of Management, Bangalore: IIMB also offers several scholarships opportunities for the students.
Aditya Birla Scholarship: Merit-based scholarship awarded to first and second year PGP students. The scholarship amount of 1.75 Lakhs per student
Uday Naik Scholarship: Merit-based scholarship awarded to second year students. The scholarship amount of Rs 10000.
T.Thomas Scholarship: Merit-based scholarship awarded by Hindustan Unilever Limited to one student for participation in co-curricular and extracurricular activities. The scholarship amount is Rs 1 Lakh
OPJEMS Scholarship: Merit-based scholarship awarded by O.P.Jindal Group to one student in an academic year. The scholarship amount is Rs 1.25 Lakh
Rajesh Kaushik Memorial Scholarship: Merit based scholarship of amount Rs 1.5 Lakhs awarded to one student in an academic year
Indian Institute of Management, Calcutta: IIMC offers need-based scholarships to deserving students. The scholarship is in the form of full or partial tuition fee waiver for students whose family incomes are Rs 4 lakh and below.
You can check with the respective institute for specific details.
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