Friday, 24 May 2013

MBA: Value of MBA in India

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MBA: Value of MBA in India

Master of Business Administration (MBA) is one of the most sought after professional courses in India today. There are more than one thousand approved business schools, universities and institutions in India, imparting MBA course to around three lakh students through full time, correspondence or part time programs. There are quite a number of national level examinations being held like CAT, MAT etc. in order to enhance admission to MBA institutes in a centralized manner. Apart from that there are other institute specific entrance examinations also.
Every year lakhs of students sit for these entrance examinations and get themselves admitted into institutes of all kinds. Also there are some institutes which provide direct admission facilities too. The main reason for which more and more people are choosing MBA as their career mode is that, recently due to globalization and open market system, there have been proliferation of the industries, corporate forces, financial institutions as well as IT and outsourcing companies.
This proliferation has almost become synchronized with the booming Indian economy. As such, there has arisen an increasing demand for skilled manpower for management purposes. MBA seems to be the key factor in producing this skilled manpower which is required to drive the industry. With more and more companies, whether Indian or foreign setting MBA as the benchmark or minimum qualification for recruitment, the value of MBA has increased manifold.
It has become evident that in the second most populated country in the world, where unemployment has always been a major social issue, an MBA degree seems to be providing the best returns to the investment done in the course in the form of a high salaried and stable job.
Now days in India, it requires approximately one to ten lakh rupees or probably more for an MBA course. In case of universities imparting MBA course, this amount is even less. However, in comparison to other Post Graduate courses or professional degree courses, the course expenses can be considered exorbitant. But with the quality of education being imparted in India and the kind of placement assurances provided, the high course fees can be regarded justified. That is why now days many people of India who had initially plans to go abroad for an MBA degree are considering it to do in India only.

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