Frequently Asked Questions
What is the difference between MBA and PGDM degree?
A Master of Business Administration (MBA) degree is a theory-based program that focuses on business and finance fundamentals. It is taught in universities and colleges that are University Grants Commission (UGC) affiliated. Courses are rigid and have common curriculum because universities are unified and affiliated to a common primary university. The fee structure is less expensive because of multiple university grants and scholarships. Focus is more on technical and analytical knowledge.
A Post Graduate Diploma in Management (PGDM) is a diploma or certification. It is an application-based program that focuses on real-world practical skills of management. It is taught in colleges that are recognized by All India Council for Technical Education (AICTE). The course is flexible and involves case studies, on-site trainings, and simulations. The curriculum is not centralized and differs from individual colleges. The fee structure is more expensive than MBA since financial aid is not provided. Focus is more on soft skills, practical knowledge, and employability.
Can a student with science background without any exposure to Business and Finance pursue an MBA degree?
Yes, MBA programs are applicable to students from any educational background as long as they can acquire a minimum of 45 to 50% aggregate (or CGPA) from their undergraduate course. Starting trouble is unavoidable, but after understanding the basic concepts of mathematics, finances, economics, and marketing, the candidate is prepared to face real-world situations in the business sector. In addition, additional skills can be acquired practically on-the-job by accumulating experience.
What is the difference between MBA and EMBA degree?
An MBA degree is mostly pursued by fresh graduates or working professionals who wish to learn the theoretical aspects of business. It is usually a two-year self-funded (or with financial aid) course. Qualification of national, state, or institution-specific entrance exams is mandatory to pursue a regular MBA.
An Executive MBA (EMBA) is commonly pursued by working professionals who hold various leadership and management positions in the organization. The course is usually less than two years in duration and does not require scores of competitive examinations. It is usually funded by the employer of the company and mainly targets corporate executives and managers.
Are expensive MBA programs from prestigious institutions better than low-budget MBA courses?
No, the quality of the MBA program is not entirely dependent on the fee structure or the institution it is obtained from. The main consideration is what is understood and interpreted during the course and how it is applied to the business in future. Indeed, an MBA obtained from a reputed institution does hold a lot of value; however, smaller learning facilities are also known to be beneficial in providing good quality education.
Is there a maximum age limit to apply for an MBA degree?
No, there is no specified age limit to apply for and pursue an MBA degree. However, it is recommended to begin an MBA immediately after graduation since individuals are proactive and have a receptive mind.
How do I choose a college to pursue an MBA degree in Pune?
Pune is known as the city of infinite opportunities. There are many reputed and recognized colleges in Pune which provide MBA courses with various specializations.
The most important factor to consider is the accreditation, ranking, and affiliation of the college as this will have a far reaching impact in terms of quality of education. The subject and specialization of the course is also very important as a candidate’s performance is dependent on individual interest in the subject. The location of the college is also of prime importance as an easily accessible institution saves time and resources. Another important factor to consider is whether scholarships and financial aid is provided to candidates who genuinely deserve them. Quality of education is related to the experience and qualification of teachers, hence this is a factor to be considered before applying for the course of interest. Lastly, the ultimate aim of good education is to apply everything learned for community and personal benefit. It is essential to check for possible placement opportunities in the field of interest before applying for a course.
It is normal for candidates to be confused about choosing a university while also considering the above factors. Hence, it is essential to take the help and support of third party companies in order to make smart and beneficial decisions.
Is MBA better than PGDM?
Both MBA and PGDM degrees are important for a successful career in business administration and management.
An MBA degree course is important for candidates who want a government job or for candidates who wish to pursue a postgraduate degree in Management.
A PGDM course is important for candidates who want more industrial exposure and practice in the current specializations and latest technology.
Is CAT, GMAT, MAT, or other qualifying examinations mandatory to pursue MBA?
Qualifying examinations are a prerequisite in order to get admission into a reputed and prestigious institution; however, certain private institutes offer admission into MBA programs without qualification of an entrance examination as eligibility criteria or also with the payment of an additional fee (university donation).
Can admission into an MBA program be obtained without attempting/clearing qualifying examinations?
A qualifying examination is not mandatory in order to get admission into an MBA program; however, recognized, reputed, and prestigious institutions prefer candidates who have secured high scores in qualifying examinations. In addition, reputed companies and recruiters prefer candidate with exceptional analytical skills demonstrated by qualifying these very competitive examinations (GMAT, CAT etc.).
Is job placement guaranteed after successful completion of MBA program?
Job placement is not 100% guaranteed after successful completion of MBA. Candidates are prepared for various real world scenarios and are trained in analyzing, strategizing, and decision-making. They are prepared for various job roles; however, individual performance during qualifying examinations, written tests, and group discussions determine the career prospects of a candidate. After being offered a job, retention is determined by performance and profitability.
Is a handsome salary package guaranteed after course completion?
Salary package and benefits are determined by various factors like designation, skill set, previous work experience, and additional professional certifications. A management trainee is offered a smaller salary package compared to an individual with 2-3 years of work experience. Post course completion, salary can range from 4 lakhs and increases to 12-13 lakhs with 10-12 years of work experience. Some companies provide additional bonuses and hikes depending on performance, work quality, quick turnaround time, and profitability.
What if I discontinue the program before complete course completion?
It is essential to complete the course entirely. In Indian universities, candidates have to reapply to the course if they discontinue prematurely and wish to continue the course again. In such an instance, the entire application fee and course amount is required to be resubmitted. Some foreign universities reimburse a partial amount of the total fees deposited, in very rare situations, where there is a critical and indispensible reason for discontinuation.
What is the salary of MBA freshers?
The salary for MBA freshers starts with Rs. 20,000 and depends on the candidate’s:
- Department or
- Specialization in the company
- Performance during assignments and tasks
It is a fast-growing career. With increase in experience and performance, candidates can get a very high salary within a short period of time.
Is it advisable to attend the Spot Admission process?
No, it is not advisable to go for the Spot Admission process with colleges.
Before beginning the MBA admission process, it is advisable for students to:
- Get detailed information about the course or college.
- Check the available options provided for MBA courses, specializations, and colleges.
- Compare the courses, faculty, infrastructure, and placement records of different colleges and institutions
- Check for additional certification and value-added courses
- Check the ratings and reviews of the college
- Check about placement statistics and records.
Some less known MBA colleges highlight certain courses to get the attention of students but do not deliver what they promise. They may also charge additional fees for the admission process. Thus, it is important to do prior research about the eligibility, admission procedure, courses, specializations offered, and placement records of different colleges before beginning the admission process.