Gain an understanding of the MBA

An MBA or master's degree in management is earned three years after graduation. Several highly esteemed and well-known universities in India including Banaras Hindu University and Jamia Millia Islamia Delhi, as well as 21 IIMs, a small number of IITs and numerous private sector institutions like XLRI Jamshedpur and NCR, SPJIMR, SIBM Pune, MDI Gurugram and Murshidabad, Indian School of Business (ISB) Hyderabad and Mohali, NMIMS and XIM Bhubaneswar offer MBA programmes. Common subjects are taught in the first year of a two-year regular MBA programme and in the final year, students can select from electives such as marketing, finance, human resources management, operations, supply chain management, information technology and consulting among others.

Students must pass highly competitive national, state or institute-level exams like CAT, XAT, SNAP, NMAT and GMAT to get into the best business schools in India. Students who score in the qualifying percentile on these tests must attend group discussions and personal interviews held by various institutions.

In order to operate an MBA programme in the country, colleges must obtain approval from the AICTE or UGC. To increase their credibility, they must also obtain accreditation from national organisations like the NBA and NAAC as well as international organisations like the AACSB, AMBA and EQUIS.

Different MBA types

Apart from the two-year classroom MBA, details of which have been mentioned above, there are some other MBA programs: 

• Executive MBA: Most prestigious colleges offer an executive MBA course for working professionals with at least three to five years of work experience. Courses and colleges vary in their requirements. Depending on how frequently classes are held, the program's duration can range from one to three years. Before attending personal interviews, which are held by various colleges in different ways, students must pass the GMAT and GRE.

• Online MBA: Since classes are conducted online and the cost of these programmes are more affordable traditional MBA programmes, online MBA programmes have grown in popularity since the COVID-19 pandemic. This program can be useful for those who want to gain more knowledge and do not really care about a pay increase right away.

• Part-Time MBA: Created for individuals who are working, this program is specially designed to cater to the working population with its classes during the weekends and evening hours, people desirous of education without leaving their current jobs can opt for this qualification. In some instances this instruction is employer-sponsored.

• Global MBA: A few public and private institutions now offer the Global MBA programme, which is a relatively new development. Students complete some of their coursework in India and some in another country. Among those offering such programmes are the Management Development Institute in Gurgram and the SP Jain Institute of Management Research in Mumbai.

• Specialised MBA: As stated in the article's previous section, in traditional MBA programmes, common subjects are taught in the first year and some electives are offered in the second year. In contrast, in this programme, specialisation is evident right away. These programmes include MBAs in business analytics, marketing, finance, public policy and human resources.

The fees and average packages for the traditional MBA Course at the top 10 business schools, according to NIRF 25

MBA Return on Investment at various stages of life

An MBA education is expensive in our country because doing an MBA from a mediocre to a leading college costs 20 lac to 50 lac and no other degree except doing medical from a private college/university is more expensive than this. Surprisingly the cost of a four-year B.Tech from an IIT is significantly less than that of a two-year IIM  despite the fact that both IITs and IIMs are autonomous institutes under the Ministry of HRD, government of India.

The answer to this question varies depending on the individual and these individuals can be classified into three groups.

Pursuing/Completed Graduation:

Doing a full-time MBA course is a very good option for those who are still in school or have graduated as the majority of first-generation successful businessmen and key executives in key corporations received their Master of Business Administration from top colleges. One must choose between pursuing an MBA immediately after graduation or after working for 1-2 years. In both cases, admission to a prestigious college must be their top priority. 

In our country 25-35% of full time MBA graduates lack work experience, while the remainder want to pursue an MBA after gaining some work experience or failing to get into a good college in previous attempts.

Even if one does not have a strong financial background, education loans are widely available today. However after completing the MBA course, one must ensure that they have sufficient funds to pay the installments.

Doing a decent job in 2026:

In this situation, the answer is not so simple because many factors must be considered such as job satisfaction, current salary and average salary of the MBA college you are joining as well as how long it will take to recover the financial losses incurred during the two years of the Master of Business Administration.

Aside from that, one should keep in mind that after becoming an MBA graduate, one will definitely be getting a decent salary increase and be a stronger and more capable person as well as have good contacts as a part of the MBA alumni networks which will be extremely useful in getting a decent boost to one's career path.

Self-employed / running their own business

In such a situation, many factors must be considered, the most important of which are the type of support system in place in the business, how it will perform in the absence of the key person, the amount of difference it makes and how much time it will be compensated for after completing an MBA degree.

Many colleges and institutes provide an MBA degree in entrepreneurship and family-run businesses. This can be extremely beneficial for this group of people and they can move their businesses forward with new energy and new ideas after completing the aforementioned specialised MBA degree.

Some other benefits of getting an MBA: 

● Increased discipline 

● Better time management 

● Better communication skills 

● Increased resilience – Your ability to transcend challenges improves

● Adaptability increases – You’re more prone to handle change effectively 

● Increased level of confidence 

● Enhanced decision-making abilities

Conclusion:

An MBA still worth an investment and pays in terms of (your own-money) return if you are really good at what you do. This isn’t advice and you shouldn’t take it as one in any possible way, but make the best decision considering your own situation, happiness at work etc.