9 Best MBA Courses in India In 2023 (Updated)
This article gives a fair idea about a few top demanding specializations in MBA courses in India. Completion of any of these specializations as per your interest promises, jobs with the topmost recruiters in the country.
MBA is a professional qualification everyone looks forward to nowadays. The degree is in high demand not only because of its prestigious name and value but also the standard of living you will be able to build up once you graduate in the same and get into high profile jobs.
Unlike the olden times, the present young generation is least doubtful about the future they have to live. They get introduced to various career opportunities around them during the school days themselves. Proper mentoring is given in educational institutions from very early stages in the current methodology of education.
Due to this, either before completing graduation or even before stepping into 12th grade the students have a clear picture of where to drive their future.
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What is MBA?
Master in Business Administration or MBA is the most versatile and popular two-year post-graduation program which helps students to become an expert in different aspects of business administration.MBA degree was first originated in the United States of America in the early 20th century when the country got industrialized and companies started seeking scientific management.
IIMs and XLRI Jamshedpur pioneered the MBA courses in India. MBA came to India in 1950. The course is now highly popular across the world and India as well.
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Why is MBA popular among students and working professionals?
The MBA courses in India, teach the students technical, managerial, and leadership skills. The two-year post-graduation program introduces the learner to the various subjects of management in the first year and the second year allows them to specialize in the area of their interest. This professional qualification is an entree to job opportunities in the corporate world.
The degree helps not only to acquire a high-paid job but also grooms to be an efficient entrepreneur. While the fresh graduates are attracted towards the glamourous job and salary that awaits them, the already working professionals consider this as a stepping stone to the next level of their career.
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How can we pursue MBA courses in India?
The various mode of learning available for the MBA courses in India makes it easily accessible for everyone who looks forward to getting the MBA degree. Nowadays the MBA degree is not only available in full-time Regular mode, but you can pursue it through online mode, distance mode, part-time model, or as an executive MBA. An Executive MBA is specially designed for working professionals to enhance their managerial skills.
The MBA degree is valued high and low based on the institution you have chosen to pursue. MBA graduates are in high demand in every domain of almost all industries. Graduates from IIMs and Top-rated B schools are promising hired by the top companies.
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What are the eligibility criteria to do MBA courses in India?
- The basic eligibility criteria required to do any type of MBA is three-year graduation in any discipline with a minimum of 50% aggregate. Top institutions like IIM and IIT demands 60% aggregate. For the students under a reserved category like OBC, SC, and ST 5% relaxation is allowed in the asked percentage.
- For doing Executive MBA apart from holding a graduate degree the university or the institution demands 3-5 years of work experience as eligibility criteria.
- Final year graduation students are also allowed to take MBA admission.
- Based on the MBA programs designed by B-schools or as per the demand of the university or institution the candidate has to clear any of the MBA entrance exams from the below list
- CAT, MAT, CMAT, AMAT are tests conducted at National Level.
- MAH-CET, OJEE, KMAT, TANCET, or APICET are tests conducted at State Level.
- IIFT, XAT, NMAT, SNAP, IBSAT are a series of tests conducted by top B-schools for their MBA programs.
- The next step for the candidates who cleared the MBA entrance exam is to attend group discussions and personal interviews conducted by the institution you qualified for.
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Where can you get qualified in the MBA courses in India?
Top 10 MBA colleges in India:
- IIM Bangalore
- IIM Kolkata
- IIM Ahmedabad
- IIM Kozhikode
- IIM Indore
- IIM Lucknow
- IIT Delhi
- IIT Kharagpur- VGSOM
- XLRI Jamshedpur
- Symbiosis Institute of Management Studies, Pune
Top 9 MBA courses in India
1. MBA in Finance
MBA in finance is the most top specialization in demand because the growth prospects in this field are immense. The study of financial management is focused on the planning and controlling of the financial resources of any industry.
As a Finance student, you need to have certain skills to excel in this field, which includes, mathematical skill, communication skill, strategic thinking, leadership skills, and supervisory skill. It teaches you subjects like Costing, Budgeting, International Finance, Capital Management, etc. The growing Indian Banking sector provides an immense number of opportunities for graduates in MBA in Finance.
The subjects covered in MBA in Finance, in general, are as follows:
- Financial Risk Management
- Fixed Income Markets
- Bank Management
- Treasury and Risk Management
- Trading Strategies
- Money and Banking
- Acquisitions and Merges
- Corporate investment management
- Portfolio Management
- International Finance
- Fundraising
- Human Resource Management
- Managerial Economics
- Macro Economics
- Business and Corporate Laws
A few areas you can start your career with graduation from an MBA in Finance are as follows.
- Corporate Banking
- Finance Ministry
- Treasury
- Asset Management
- Trading
- Credit List Management
- Asset Management
- Derivatives Structuring
- Sales
- Stock Marketing
The average starting salary of a graduate in MBA Finance is nearly 7lacs per annum. The top recruiters of MBA Finance candidates are EY, Accenture, HDFC Bank, TCS.
2. MBA in Human Resource Management
MBA in HR or Human Resource Management deals with the study of people in organizations. Any business is related to people, and it is the responsibility of the employer to ensure that their employees are well treated and the overall welfare of their life inside the company is well and good. This process is done through Human Resource Department.
The HR department is not only engaged in recruiting, training, and developing candidates but also how to reward and compensate them whenever is merited.
The course teaches you about recruiting, training, salary, benefits and increments, performance updates, employee policy, employee health, and safety as well as staff amenities. The essential skills required by the candidates choosing this course are good communication, strategic thinking, leadership skills, empathy, teamwork, decision making, etc.
The subjects covered in MBA in HR, in general, are as follows:
- Human Resource Management
- Human Resource Development and Planning
- Organisational Development and change
- The methodology of Training and Development
- Managerial Economics
- Personnel Management Concepts
- Industrial Relations Management
- Labour Laws
- Corporate Communication
- Operations Management
- Compensation Management
A few areas you can start your career with graduation in MBA in Human Resource Management are as follows.
- Human Resource Generalist
- Employee Relations Manager
- Human Resource Manager
- Technical Recruiter
- Human Resource Entrepreneur
- Compensation or Benefit Analyst or Manager
- Training and Development Coordinator or Manager
- Labour Relations Manager
- Non-Profit Human Resource Experts
- Staffing Director
The average starting salary of a graduate in MBA HR candidate is nearly 6 lacs per annum, where HR Managers and Senior HR Managers earn 7.5lacs to 10lacs per annum.
MBA HR candidates have plenty of job openings in IT Companies, newspapers, advertising firms, Media houses, etc. Every company has an HR wing to support its employees.
3. MBA in Marketing
Most business organizations have their in-house marketing team who works hard to bring clients to the company and promote their products. Unlike the other MBA courses in India, this specialization has gained much popularity in recent years with the boom of the digital sphere and globalization. Even though the course is mainly targeted towards marketing, the skill sets learned during the course open up various career paths from consulting to entrepreneurial management.
The skills required for the candidate to do this course are Interpersonal, communication, strategic, and Entrepreneurial. During the course, the students will get trained in the areas of Market Research, Consumer Behaviour, Cost Volume and Profit, Sales, Promotion, Advertising, Branding, etc.
The subjects covered in MBA in Marketing, in general, are as follows:
- Marketing Concepts
- Marketing Ethics
- Consumer Behaviour
- Business Communication
- International Marketing
- Industrial Marketing
- Sales Forecasting
- Economic Analysis
- Customer Relationship Marketing
- Business Management
A few areas you can start your career with graduation from in MBA in Marketing are as follows.
- Marketing Manager
- Asset Manager
- Sales Manager
- Media Planner
- Branding Manager
- Product Manager
- Public Relations Director
- Market Research Analyst
- Head of Digital Marketing
- Corporate Sales
The average starting salary of a graduate in MBA Marketing is nearly 7.5 lacs per annum. The top recruiters of MBA Marketing candidates are Financial Services, IT firms, Marketing Companies, Advertising agencies, etc.
4. MBA in Operations Management
As the name suggests it deals with the entire operation of a business organization. The course teaches the student to effectively manage the process behind the successful production and distribution of the product in an organization. Students who have a high grade of soft skills like negotiation, communication, customer handling, etc can excel in this field.
The subjects covered in MBA in Operations Management, in general, are as follows:
- Logistics
- Supply chain Management
- Operations Research
- Inventory Control
- Project Management
- International Logistics
- Marketing Management
- Enterprise Resource Planning
- Plant Design and Layout
- Manufacturing Strategy
A few areas you can start your career with graduation in MBA in Operations Management are as follows.
- Logistics Information Systems
- Marketing and sales
- Import and Export
- Inventory-Material Control
- Transportation
- Construction
- Warehousing
- Packaging
- Information Technology
- Financial Institutions
The average starting salary of a graduate in MBA Operations Management is nearly 8 lacs per annum. The top recruiters of MBA Operations Management candidates are GAIL, First Flight, ONGC, BlueDart, and DAMCO.
5. MBA in Healthcare Management or Hospital Management
The role of an MBA graduate in HealthCare or Hospital Management is not limited to the healthcare sector like a hospital, but the concept is wide beyond the hospital, like government agencies, insurance organizations, pharmaceuticals sector, and consulting firms in health sectors.
As a specialist in healthcare management, you are expected to handle critical hospital issues and their administration. Besides having basic administrative skills, the important skills required for MBA in Healthcare Management are Quick thinking, Adaptability, Ethical Judgment, Leadership, etc.
The subjects covered in MBA in Healthcare or Hospital Management, in general, are as follows:
- Health Service Management
- Operations and Services Management
- Medical Ethics Quality Management
- Hospital Information
- Medical Emergency Systems
- Medical Tourism Financial
- Financial and Costing Accounting for Hospitals
- Healthcare Policies and Regulations
- Information Management in Healthcare
A few areas you can start your career with graduation in MBA in Healthcare or Hospital Management are as follows:
- Private Hospitals
- Medical Colleges
- Health Insurance Companies
- Pharmaceutical Companies
- Diagnostic Laboratory Chains
- Healthcare IT
- Medical Tourism Companies
- Market Research Organization
- Preventive and Social Healthcare Sectors
- Primary Healthcare Chains
The average starting salary of a graduate in MBA Healthcare or Hospital Management is nearly 6.6 lacs per annum. The top recruiters of MBA Healthcare or Hospital Management candidates are Fortis Healthcare Limited, KMPG, Infosys, AIIMS, Apollo Hospitals.
6. MBA in Rural Management
With the changing socio-economic scenarios and government policies on Rural development, the demand for rural managers is rising consistently and more and more courses on Rural Management are being introduced into the market. Apart from other MBA courses in India, this specialization introduces students to the areas of Agribusiness, rural economy, and how business works in rural areas.
The course involves lots of experimental learning. Students have to visit rural areas to get a thorough learning experience. You need to grow qualities like empathy, commitment, and integrity to work in this field along with problem-solving skills, the ability to handle huge masses, and knowledge of the local language.
The subjects covered in MBA in Rural Management in general by almost all colleges in India are as follows:
- Natural Resources and Sustainability
- Rural Livelihood and Research Methods
- Development Theories and Practises
- Agribusiness
- Microfinance
- Economic Analysis for Rural Management
- Social Entrepreneurship
- Legal Environment
- Rural Infrastructure
- Precisions farming and Horticulture
A few areas you can start your career with graduation in MBA (in Rural Management) are as follows.
- NABARD Bank
- Grameen Bank
- National or International NGO’s
- Government-owned or sponsored Rural Development Projects
- Agribusiness
- Microfinance
- Insurance
- Voluntary Groups
- Funding Agencies
- Research Institute conducting extensive research on rural areas.
The average starting salary of a graduate in MBA Rural Management is nearly 4 lacs per annum. The top recruiters of MBA Rural Management candidates are Insurance companies, Research & Consultancy Firms, Rural and Agriculture Financing, Banks.
7. MBA in International Business
MBA in International Business has become very popular and lucrative with globalization and the resultant increase in contact among countries. Businesses are started exploring international markets. Companies are now looking for graduates trained in handling international business, to represent their company internationally.
The course deals with conducting and planning business on an international level. It teaches students about varied aspects of international business such as documentation, export and import, foreign trade practices, foreign exchange, foreign capital, and the international market. The course covers marketing, finance, and human resource with an international focus. Students get trained in global trade, management, or general business career. Knowledge of foreign languages is counted as an added advantage.
The subjects covered in MBA in International Business, in general, are as follows:
- International Business Environment
- Financial Management
- Marketing Management
- International Business Law
- Global Financial Markets and Instruments
- Management of Multinational corporation
- Foreign Trade and Policy
- International Logistics Management
- Global Marketing Management
- Cross-Cultural Business Management
A few areas you can start your career with graduation in MBA (International Business) are as follows.
- International Finance
- International Marketing
- International Logistics
- Export and Import Management
- Foreign Exchange Management
- Management Analyst
- Consultant for an International Organization
- International Logistics Company
- Banks
- MNC’s
The average starting salary of a graduate in MBA International Business is nearly 8 lacs per annum. The top recruiters of MBA International Business candidates are Accenture, TCS, JP Morgan, Capgemini Na standard Chartered Bank.
8. MBA in Information Technology
The influence of Information Technology in the Universe is increasing day by day ranging from major to minute things around us. Considering this, Information Technology or IT has become one of the most desirable courses across all streams and degrees. An MBA in IT is a new stream evolved but still in huge demand. Among the MBA courses in India, this specialization has started holding a grip on the market.
Aspirants taking up this specialization are expected to have skills in Global Orientation, Knowledge in IT, Analytical Skills, Problem-solving skills, Strategic thinking, etc.
The subjects covered in MBA in IT Management in general by almost all colleges in India are as follows:
- Computer Security
- Legal and Ethical Business Practices
- Systems Analysis and Design
- Database Management
- Management of Information Systems
- Financial Analysis for Technology Managers
- Information Technology Infrastructure
- Technology Entrepreneurship
- E-Business
- IT Consulting and Advisory Practice
A few areas you can start your career with graduation in MBA in IT Management are as follows.
- Project Management
- Product and Corporate Marketing
- Cross-Platform Communications
- Information system Manager
- Strategy and Planning
- Business Development Manager
- IT Director
- IT Specialist
- Chief Technology Officer
- Computer Information Specialist
The average starting salary of a graduate in MBA Information Technology is nearly 5 lacs per annum. The top recruiters of MBA Information Technology candidates are Credit Suisse, Accenture, Pepsico, EY, Deutsche Bank, GE.
9. MBA in Tourism Management
The students will be introduced to various destination points, the history of tourism, the wide area of tourism, and the hospitality industry. Candidates who possess strong negotiation skills and communication skills can opt for this course.
Among the top MBA courses in India, this specialization is setting up a position as it can be beneficial in both Tourism and Hotel industries.
The subjects covered in MBA in Tourism Management, in general, are as follows:
- World Geography
- Travel and Transportation planning
- Marketing Strategies
- The History of Tourism
- International Tourism and Trends
- Organizational behavior
- Human Resource Management
- Travel Agency and Tour Operation Business
- Hospitality, Hotel, and Hoteliering
- Destination Planning and Management
A few areas you can start your career with graduation in MBA (in Tourism) are as follows.
- Tourism Departments
- Tour Companies
- Travel Agencies
- Hotel Industry
- Hospitality and Catering Industry
- International and National Food Chains
- Travel and Tourism Colleges
- Food -Craft Institutes
- Airlines
- Banks
The average starting salary of a graduate in MBA Tourism is nearly 5-10 lacs per annum depending upon the job roles. The top recruiters of MBA Tourism candidates are Thomas Cook, TCI, Airlines, Yatra.com, Cox & Kings, etc.
Conclusion
The above-mentioned MBA courses in India are few which is high in demand in the current market. There is a pool of other major and rewarding specializations in the market from which the students can choose one as per their interest or relevant for the career they dream for. Like MBA in Business Analytics, MBA in Logistics Management, MBA in Hotel Management, MBA in Event Management, MBA in Business Management, and so on. Choosing the best MBA courses in India suitable for you and getting admitted to the best institution is the major hurdle in the process.
