Are you ready to take the plunge into the world of business administration and become a manager? Then getting an MBA is the first thing you should do to reach your goal. MBA stands for “Master of Business Administration.” Business schools all over the world offer this postgraduate degree in business administration. In the business world, getting an MBA from the right school can lead to a lot of different possibilities.

To get into an MBA program in India, you have to do well on a number of entrance exams, such as the CAT, CMAT, XAT, MAT, MAH CET, NMAT, SNAP, IIFT IBSAT, and others. CAT is the test that you need to take to get into IIMs and other top business schools like IIM Bangalore, IIM Ahmedabad, and more.

The NIRF ratings for management have been used by Careelaksh to make a list of the best schools. But HT has nothing to do with how these schools are ranked or ordered.

How does getting an MBA help your job?

Getting an MBA can make you more marketable as a professional and open up more and better job possibilities for you. More than 98% of Wharton MBA grads get full-time job offers. An MBA also helps you become a better business leader and build your career network. Over 99,000 people from 153 countries have graduated from Wharton and are now part of a large alumni group. Find out why a Wharton MBA is valuable.

MBA Fee Structure in India

The costs of getting an MBA can be very different based on where you live and the school you go to. Most of the time, in India, the whole course costs between 2 lakhs and 20 lakhs. One example is the two-year MBA program at the St. Andrews Institute of Technology and Management (SAITM) in Gurgaon, which costs around 2.6 lakhs for the whole term.

In short, here’s how it works:

Public universities charge between ₹20,000 and ₹2 lakhs a year in fees.

When you go to a private college, the study costs between 2 lakhs and 20 lakhs.

Elite Institutions: The full course fees at top schools like IIMs may be between 10 and 25 lakhs rupees.

The four-step process for getting into an MBA

In India, there are four steps you need to take to get into any of the best MBA schools. All MBA schools, including IIMs, use these 4 steps to choose who gets in. IIMs offer admission only after a tough selection process to find the best candidate.

Step 1: sign up for and apply for the MBA entrance exam.

The process for getting into the best MBA schools starts in the first week of August or September and ends in the last week of November. People who want to get into the best MBA programs should sign up for the appropriate MBA entrance test, such as CAT, XAT, NMAT, or SNAP, within the time limit for registration. Most national level MBA entrance tests, like the CAT and XAT, stop letting people sign up in September and November, respectively. The process of registering for the CAT usually lasts for 45 to 50 days.

Step 2: Take the MBA admissions test

You have to take the CAT, XAT, NMAT, or another relevant entrance test if you want to get into a top MBA or PGDM management course.

For admission to the 2024–26 class, the Common Admission Test (CAT) will be taken on November 26, 2023, the XAT 2024 on January 7, 2024, the NMAT from October 10 to December 19, 2023, and SNAP 2023 on three dates: December 10, 17, and 22.

Step 3: Making a short list

Once the MBA exam results are released in January, most of the top business schools will choose the best candidates for the final round of admission based on a number of factors, including test scores, academics, diversity, work experience, and other factors that are specific to each school’s entrance policy and weightages. The process is done by each school on its own.

Step 4: Final Steps for Admission: GD-PI-WAT Round

The applicants who made the short list will have to go through a Group Discussion (GD), a Written Ability Test (WAT), and then a Personal Interview (PI). Many business schools, like FMS, do a GD and an Extempore round before the PI round. Others, like MDI, do a GD-PI round, and still others, like IMI, do a psychometric test as well. Some IIMs, like IIM Shillong and IIM Kozhikode, also use the WAT to guide the GD round. The final selection round will be based on how well they did, with entrance scores, academic profile and diversity, work experience, and gender diversity all being given weightage. The final merit list will then be made, and each B-school will make acceptance offers based on that list.

Subjects and Courses for MBA 2024

The first two semesters of an MBA program cover a wide range of general topics, including economics, management, marketing, human resources, business communication, group behavior, and more.

In the second year, an MBA student’s course work teaches them to all of their specialization areas, such as analytics, finance, marketing, human resources, IT, or marketing.

In addition to the required courses for an MBA, students can also choose from a number of other related classes.

The following are examples of MBA classes offered by different colleges, as well as summer and internship projects:

MBA Semester Wise Subject and Syllabus 

Semester 1

1	Marketing Management I
2	Corporate Financial Reporting and Analysis
3	Marketing of Products and Services
4	Organizational Behavior I
5	Human Resource Management
6	Statistics for Management
7	Business Statistics
8	Business Communication and Managment Skills
9	India and the World Economy
10	Marketing and Consumer Behavior
11	MicroEconomics

Semester 2

1	Costing Products and Services
2	Indian Economy in the Global Context
3	Marketing of Products and Services
4	Organizational Behavior II
5	Human Resource Management II
6	Project Management
7	Management Operations and Supply Chain
8	Marketing II
9	Transforming Business through Information Technology
10	Personal and Corporate Ethics
11	Macroeconomics

Semester 3

1	Applied Business Research
2	India and the World Economy
3	Managing Digital Business
4	Entrepreneurial Mindset and Action
5	Production and Operations Management
6	Strategic Management
7	Corporate Governance and Social Responsibility
8	Management of Design
9	Cost and Management Accounting
10	Indian Legal System
11	Business, Government and Society: Ethics and Responsible Business

Semester 4

1	Leadership Development
2	Ethics and Indian Ethos
3	Integrated Decision Making
4	Project Study
5	Applied Business Research Project
6	Capstone Stimulation

20 well-paying jobs you can get with an MBA

You can get a lot of different jobs with an MBA, based on your skills, interests, and preferences. For these jobs, you need to have a lot of technical knowledge and experience in the field. Here are some of the ones that pay the most:

#	Job	National average salary
1	Logistics manager	₹ 5,48,695 per year
2	Marketing manager	₹ 4,58,506 per year
3	Business operations manager	₹ 5,11,430 per year
4	Human resources manager	₹ 5,02,855 per year
5	Purchasing manager	₹ 5,23,667 per year
6	Financial analyst	₹ 4,13,194 per year
7	Operation analyst	₹ 4,13,194 per year
8	Investment banker	₹ 4,91,064 per year
9	Management consultant	₹ 5,98,114 per year
10	Chief executive officer	₹ 7,26,577 per year
11	Finance manager	₹ 7,40,306 per year
12	Product manager	₹ 8,56,384 per year
13	Business intelligence analyst	₹ 7,85,911 per year
14	Marketing director	₹ 7,38,764 per year
15	Chief financial officer	₹ 11,80,136 per year
16	Medical director	₹ 4,20,883 per year
17	Policy analyst	₹ 5,51,009 per year
18	Information technology director	₹ 12,77,878 per year
19	Budget analyst	₹ 7,74,449 per year
20	Sales director	₹ 13,01,290 per year

Top MBA Colleges in India (2024 NIRF Rankings)

Here’s a list of the Best MBA Colleges in India based on their academic reputation, faculty, infrastructure, and placement records:

#	Colleges	NIRF Rank
1	IIM Ahmedabad	1
2	IIM Bangalore	2
3	IIM Calcutta	3
4	XLRI Jamshedpur	4
5	IIM Lucknow	5
6	SPJIMR Mumbai	6
7	FMS Delhi	7
8	MDI Gurgaon	8
9	IIT Delhi (DMS)	9
10	IIM Kozhikode	10

These colleges are known for their rigorous academic curriculum, world-class faculty, and excellent placement opportunities. By attending one of these institutions, you’ll be well-prepared to succeed in the corporate world.