What is the minimum percentage of marks required in graduation for taking admission in any Management Institute?
For appearing in CAT, MAT, ATMA, IRMA, SNAP, NMAT, it is 50% in aggregate(including marks of both Honours and Pass papers) at any graduate exam. All Universities, except in Maharastra and some in UP need 50% in aggregate at the graduate level. CET (Maharastra) needs 45% in aggregate at the graduate level. JMET requires 60% in aggregate, whereas XAT does not mention the minimum aggregate. CU(Hyderabad) needs 55% in aggregate. A relaxation of 5% is given to the SC/ST/CW/PH candidates. IGNOU accepts Bachelor’s Degree plus 3 Years’ Supervisory/ Managerial/Professional experience OR Degree in Engineering/ Technology/ Medicine/ Architecture/Law, etc. OR Professional Qualifications in Accountancy/Cost & Work Accountancy / Company Secretaryship etc. OR Master’s Degree in any subject. (The University may consider other degrees in this list of equivalent professional degree/qualification, if required).
Which are the Top Ten Management Institutes of India?
There are many agencies who rate the various MBA Institutes in India with their own criteria. Some of the well known rating agencies are India Today, Business India, Businessworld, Indian Management and many on-line rating agencies. However, as seen over the years, we can safely indicate that IIMA, IIMB, IIMC, IIML, IIM Indore, IIM Khozikode, XLRI-Jamshedpur, FMS-Delhi, MDI-Gurgaon, IIFT, Jamnalal Bajaj, Narsee Monjee, S. P. Jain, XIM-Bhubaneswar, IRMA, IIT-Delhi , IIT-Kharagpur are some of the Institutes that have consistently featured in the top ten. Point to note is that ISB, Hyderabad which is not recognised by the AICTE since it follows a one year MBA Programme, has been rated as the 20th in the merit of the world’s top MBA Institutes by the renowned Forbe’s Magazine.
How important is the need for having experience to get into a renowned MBA Institute?
Having experience to get into a top MBA Institute is not mandatory, nor is it an essential requirement. However, some Institutes prefer candidates with previous experience. It must be seen that all Institutes try to have a judicious mix of the experienced alongwith the freshers. The application kits of the individual Institutes talk about it. Experienced candidates get an extra weightage at the interview level only, after having qualified the written exam. The Indian School of Business, Hyderabad which offers only a one year MBA programme, accepts experience as a mandatory requirement. Many Part-time/Distance MBA Programmes offered by the Universities, both regular and open, and other AICTE approved Institutes have experience as an essential requirement. There are many non-AICTE approved Institutes who do not bother about the minimum eligibility criteria and admit students based on their individual perspectives. However, one should be cautious and choose the Institutes depending upon one’s own requirements.
Do engineers have an edge over non-engineers in the run-up to the preparation for the entrance to an MBA Institute?
It is only a myth that the engineers have a very sound mathematical knowledge. While it may be true, one must remember that all MBA entrance tests are not subjective tests, instead they are objective in nature and the answers are given and are “arrived at” rather than derived as in a subjective test where you get marked for the steps you take to come to the correct answer. As a corollary, the humanities students should be very good in the language application sections like Reading Comprehension and Verbal Ability!.
How can one meet the high fees which are asked by some of the well known Institutes?
There are financial assistance schemes in many of the top MBA Institutes like the IIMs, which have a subsidised fee structure and scholarships too are available to the meritorious students. Many corporate houses too sponsor candidates, possibly under contract to serve the company after qualifying in the exams.
Besides, the Govt. has liberalised schemes, funded through the banks and financial institutions, to extend Educational loans to students who have qualified to join a recognised MBA Institute. Under this regulation, the student enjoys the grace period of repayment only after he or she acquires a job. The banks lay down their own criteria in disbursing the loans, in terms of the need for collaterals/guarantees.
What are the various kinds of specialisations in MBA available in the MBA Institutes?
Today, a variety of specialisations are available to pursue. While one may specialise in the traditional areas of Marketing, Finance, HRD, IT, International Business, Production, Entrepreneurship and other General Management, there are other niche areas of specialisation like Hospitality, Hospital/Health Care Management, Aviation, Wild Life, Insurance, Actuary, Market Survey, Media, Construction, Design and Town Planning. New and emerging areas of Management are on the rise catering to the needs of the Market. However, one has to evaluate and marry ones interest against the specialisation in charting ones career. The courses offered vary from institute to institute.