Everything you need to know about MBA

We hear the term “MBA” all the time. But what does an MBA really signify, and How does it help boost our career is something that some of you might not be fully aware of? Here I will try to provide all the necessary information from What an MBA is to How to go about it 

What is MBA?

Master of Business Administration, commonly known as MBA is a highly valued degree designed to develop the skills required for careers in business and management. MBA helps you grow and evolve to successfully manage, lead, organize and adapt in a variety of business environments.

MBA is an extension of BBA or BMS as (we call it in Mumbai university)

Anyone with a bachelor degree in commerce, science or arts can pursue MBA.

MBA is a terminal and professional degree. Full time MBA programs normally takes place over two academic years i.e. approximately 18 months of term time. MBA degree has worldwide recognition.

Why do we do MBA?

• Insurance policy – Yes an MBA degree from a good college can act as an insurance policy.

It is a normal perception that MBA is done only for the sake of money but MBA is not only money centered but the degree acts as an insurance policy as well. For e.g. if we talk about startup, own business or expansion of business, there is a lot of risk factor involved which can lead to failure where the failure ratio is 90:10 (90%=fail, 10%=progress). At such circumstances if you have done MBA from a renounce college you can always fall back for service (jobs).

• High salary potential 
• Better career opportunities – An MBA degree not only provides a higher salary package but also ensures you a better job profile than people who haven’t. 

People who have an MBA degree will always be perceived to have more knowledge and therefore will always be promoted over others

• Start own venture –A lot of today’s youth aspires to be an entrepreneur and start their own ventures. MBA surely helps you develop and enhance your management and business skills but the most important thing when it comes to starting your own business is funds. If you are from some of the top MBA colleges it’s easier to get funding for your dreams. How? That’s where the alumni of your college comes into picture.
• Enhances overall personality – Curriculum of an MBA college is designed in a way to enhance your personality
• Preferred specialization – MBA provides various specializations such as Finance, Marketing, Sales, IT, HR
• Worldwide recognition – Its an worldwide recognized degree

Process for getting into MBA college?

There are various sectional exams given for ^getting into MBA college.

Steps are:

1. Written test MCQs

2. Group discussion/ Group exercise/ Essay writing/ Psychometric test

3. Personal interview

The quality of teaching and intake of student has to be good in order to qualify. 

The video below explains the same.

Eligibility criteria for MBA?

This is a general type of question usually asked. There is no such eligibility criteria for MBA. Students who have completed graduation or are in the final year are eligible for exams. Both experienced and freshers can apply. many companies prefer freshers and experienced as per the requirement and preferences.

Different exams to be appeared for:

There are different sets of examination that can be given in order to take admission in an MBA college.

1. CAT

This exam is usually around November. The number of questions are 100 and time given are 180 minutes. There is sectional cut off and negative marking is also applicable. Difficulty level is high. Examination is online.

2. XAT

This exam is usually around January. The number of questions are 100 and the time given are 180 minutes. There is sectional cut off and negative marking is also applicable. Difficulty level is high. Examination is online.

3. NMAT

This examination is usually around October to December. The number of questions are 120 and the time given are 120 minutes. There is sectional cutoff and negative marking is not applicable. Difficulty level is medium. Examination is online.

4. IIFT

This examination is usually around October. The number of questions are 100-110 and the time given are 120 minutes. Sectional cutoff is applicable and negative marking is also applicable. Difficulty level is high. Examination is offline.

5. SNAP 

This examination is usually around December. The number of questions are 150 and the time given are 150 minutes. No sectional cutoff but negative marking is applicable. Difficulty level is medium. Examination is online.

6. CET 

This examination is usually around March. The number of questions are 200 and the time given are 150 minutes. No sectional cutoff and no negative marking. The difficulty level is easy. The examination is online. 

Subjects :

There are various subjects majorly Quants, Verbal, Logic, DI, General awareness or GK.

In CAT examination logic and DI are combined. different exams have different levels of particular subject to score according to the cutoff. 

Level of difficulty for each exam : 

There are different sets of examination that can be given in order to take admission in an MBA college. Different examinations have different level of difficulty.

1. CAT (highly difficult)

2. XAT (highly difficult)

3. IIFT (highly difficult)

4. NMAT (moderately difficult)

5. SNAP (moderately difficult)

6. CET (comparatively easy)

Colleges accepting scores for different entrance exams.

This is the one of the frequently asked questions. To create a hassle free environment, colleges instead of conducting their own examination are now admitting students over generalized exams such as CAT, CET, SNAP, XAT, NMAT, IIFT, etc. For the colleges who are conducting their own exams till now will not admit students over this exams.

Following video shows a table which includes category of colleges, city and examinations.

What is the difference between percentage and percentile in CAT?

Percentage is the calculation that we normally do. 

Percentage = (marks/total marks)x100

For example, in total 100 marks if you scored 80, then your percentage is 80%

If we talk about percentile now, percentile is a little different term where other student’s score are equally important so as to calculate where you stand (rank) and how good or bad your performance is in a particular examination.

Percentile = (number of people behind you/total no. of people)x100

In percentile, the number of people whose score is below you or number of people your score is better than becomes your percentile.

For example if in a class of 100 students a student tops in exam that student’s score is better than other 99 students which would make his percentile 99%ile. Student 2 rank is 40th which would be better than 60 people so his percentile would be 60%ile.