"An MBA helps an employer classify you more easily… "

An MBA may not be a guaranteed ticket to a dazzling career, but it is a lucrative option to consider. It is also definitely a much-hyped degree. Years back, engineering or medical colleges were the hotspots in terms of career-oriented education. However, in the past twenty years management courses have usurped this position. Changes in global trends and in commercial markets have made the MBA a universally acclaimed master’s degree. Those who want to build careers in management find that the ambit of their work and interests become broader as they move up. An MBA helps one master this broadening process.

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"Alumni are potentially the most significant sources of information you can have..."

Hallelujah, you have decided. For better career prospects, expanding your horizons or killing two years, you have picked an MBA as the weapon of choice. You have weighed the test reading material and sharpened your pencils. The postal department has dutifully delivered your test prospectus, which is when Zeus gifts you a thunderbolt – where should I apply? Unassuming as the question seems, hitherto nascent doubts suddenly present themselves. Everyone dreams of the IIMs when they throw their hats into this ring. Those fat pay packets and blitzkrieg career progressions dilate all our pupils. Those three letters beside your name become an all-consuming desire. However, like all the good things in life, there is the catch – too many pegs, too few slots. There are around 1,700 seats and close to 3 lakh people, only too eager to have them. Simple mathematics will show you that there will be a healthy number of unfulfilled souls at the end of this exercise. What to do? Apply at other schools, of course. But which ones?

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"Think through and assess all your options before you make the final choice…"

Once you have decided to take up an MBA course, another important decision lies in wait for you. Now you need to make up your mind about your area of specialization. The area of specialization you choose defines your career graph post MBA. Since the specialization that you choose will definitely decide the launching pad for your career post MBA, and also often the kind of work that you will be doing over the rest of your professional life, it is advisable that you give it a good deal of thought. There are many ways to select a specialization you ought to take up. Given below are a few standard approaches you can choose from:

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"Before embarking on the MBA journey, mull over the investments required in terms of cost and time …"

India Shining, India Rising, India Poised, Brand India – the labels are far too many. The point is but one: the last decade and a half have witnessed a tumultuous change in the way in which India is viewed by the world. No longer does the West turn up its nose at the slow-paced, restrictive, third world capital of poverty and stagnation; India today is a country with an ever growing economy, a land of unending human potential, the next global superpower. Truth be known, much of this image makeover (if not the whole) has been due to the business and corporate sector which, after the dismantling of socialist shackles during the 1990s, has proved its true mettle, catapulting itself to the ranks of the best and most powerful globally. Needless to say that the enhancement and transformation of business in India has brought with it a fierce demand for professionally trained management professionals. Consequently, MBA education in India has also evolved to meet the varied objectives of individuals wishing to make it to the league of business leaders and executives who have changed the face of our nation. We present here a broad study of the different types of postgraduate programmes that business schools have on offer today.

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"As the sectors of work widen, the demand for managers with specialised skills is on the rise…"

To generalise or to specialise Studying for an MBA is one of the most crucial decisions you will make in your life. If you are considering doing an MBA, you already know this, but what you might not realise is that the MBA degree is one of great variation. The value of an MBA largely depends upon the school that awards it, the faculty specialisation within each school and even the format in which the course of study is presented. It is also one of the most sought after degrees in the world because of its value to people in business and administration. Generally Specialised As one of the world’s fastest growing economies, India has made enormous strides in economic and social development in the past two decades and has witnessed immense growth in various sectors in the recent past. It has also observed phenomenal growth of the service sector in recent decades. Under its broad tag, we have business services, communication services, financial services, community services, hotels and restaurants and trade services. India already has a vast pool of highly educated and vocationally qualified people who are making their mark, domestically and globally, in science, engineering, information technology (IT) and research and development. The skilled labour force in India has the advantage of receiving work opportunities from all over the globe. India’s domestic growth is taking off creating unprecedented demand for employees/workers with the right leadership and technical skills. As the sectors of work widen, the demand for managers with specialised skills is on the rise. To meet this demand, quite a few B-schools have designed MBA courses offering ‘sectoral’ specialisations apart from the conventional functional specialisations.

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"MBA Programmes in the US have an average intake of almost 300, compared to less than 150 in Europe…"

Recently I had the opportunity to meet 25-year old Ravi Sonapur, who has just completed his management studies in France. I asked him why he chose a European management programme to one from the USA, and pat came the answer: ‘European Management programmes are of shorter duration compared to their US counterparts; they usually take one year so that the time out of the job market is short and consequently the course works out to be cheaper.’ Well, all who are contemplating an international MBA may not have a similar viewpoint. For instance, Rashid Siddiqui, a management aspirant, says, “I don’t think I can study all subjects required for an MBA in one year. Without prior business education, I don’t think I would like to study at a business school that offers a one-year program”.

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