Very Good Reasons to do an MBA-By Ravi Kulkarni, 3rd semester student

With some top 50 graduate schools of business across the north Karnataka, the M.B.A. degree has clearly become a commodity.

Even among elite schools, courses and case studies are pretty much water from the same well (i.e., finance, operations, marketing, HR).

So how do you choose? By using the rankings? Which ones? The Economist’s? Business week’s? The Financial Times’s? And if you do, how do you tell the difference between a school ranked No. 6 and a school ranked No. 7?

Don’t ask none. Don’t ask the schools, either. Their polished brochures try to be everything to everybody, and in the process they obscure rather than illuminate.

An MBA, or a Master of Business Administration, is a very hot topic nowadays. Is this just a trend, a touch, or is there real value in pursuing such a study programme? It is expensive and demanding and it has high entry requirements, so why should you opt for an MBA?

1. Higher remuneration

The average salary for an MBA graduate is considerably higher than that of an employee with a regular master qualification. For MBA graduates the average salary ranges from 8000 INR (in governmental or non-profit Institutions) to 28000I NR (in consultancy, finance or healthcare). That is almost twice as much of what you can expect to earn with a regular University degree. In this case, in 2-3 years, you cover the investment made in your MBA education, which is estimated to cost, for a 2 year MBA at a top business university, 35000 INR on average.

2. Better career opportunities

This advantage of an MBA degree goes hand in hand with the first one and it is actually the cause of the first one. Graduates of an MBA programme have, due to their qualification, higher chances of obtaining and holding a high level management position. It is estimated that 70% of the MBA graduates worldwide are senior managers or board directors. This type of position brings along a higher salary but of course also a higher responsibility and longer working hours.

3. Better fused business network

As an MBA student you have great networking opportunities. Through this type of study you get to know and interact in a relevant manner (in a context that emphasizes your business management capabilities) with colleagues (future high level managers), professors and teaching staff (usually former or current potent business people, with great on-field experience). Furthermore if you are not doing a part-time MBA next to your job or within your company you have good chances to meet potential employers through the various internships that are part of most top MBA programme.

4. A holistic viewpoint over the business world

As mentioned before, through studying an MBA you become part of a great network of professionals and companies and you constantly challenge yourself with the newest problem-solving. These things together give you a great overview of the business world, a deep understanding and certain receptiveness to the slight changes of this environment. This type of overview and sensitivity is very hard to achieve without spending a lot of time on it. 

Why one shouldn't book seats in advance!

The following article has been borrowed from the original source for educational purpose and not with any monetary intention. The article first appeared in The New Indian Express and is authored by Rashmi Belur.

This year, colleges have started a new practice — students can pay an advance and book MBA seats even before they write their admission tests.

The authorities say this is improper, and the managements are cashing in on the students’ anxiety. Hundreds of seats went without takers last year. Many colleges are asking aspirants to pay an advance for the 2015-16 courses, beginning mid-September. If a candidate gets a good rank in PGET (Post Graduate Entrance Test), conducted by the Karnataka Examinations Authority (KEA), the college refunds the advance.

If the rank is low, the candidate tops up the advance by paying management quota fees, and keeps the seat. After being provided information by several students and parents, Express contacted some colleges and confirmed the new trend.

CMR Institute of Technology, Acharya Institute of Technology, M S Ramaiah Institute of Technology, and BMS Institute of Technology are among those collecting advances. “Yes, we are blocking MBA seats and the advance varies from Rs 50,000 to Rs 1 lakh,” a CMRIT official said.

Some colleges are even going to the extent of saying they will not reimburse the amount or allot a seat under the government quota. BMS is following this strategy. “We are blocking seats for MBA courses, but that is only for the management quota. The advance is Rs 1 lakh and the rest is collected at the time of admission,” a college official said.

RNS also follows this policy. When Express called, a staffer said, “The fees for a management quota seat is Rs 3.7 lakh and it can be blocked with Rs 50,000. Whatever the rank of the student, the seat will remain management quota.”

Acharya Institute Technology, which runs Acharya School of Management, charges Rs 6 lakh for an MBA seat, and is asking for Rs 2 lakh as advance. A student who reserved his seat there told Express, “I got to know about the booking through one of my lecturers and paid Rs 2 lakh.”

KMAT, the entrance test for management quota seats, was conducted on August 2 and PGET, the test for government seats, is slated for August 8 and 9.  

The KEA says about 24,000 MBA seats are available, with half the number coming under the concessional government quota. “It is a fact that everyone who writes PGET gets a government quota seat as the number of aspirants has come down. In 2014, 40 per cent of management quota seats went unclaimed,” said a KMAT official. About 220 colleges offer MBA in the state. Some are affiliated to the Bangalore and Mysore University and Rani Chennamma University, and the rest to Visvesvaraya Technological University, Belagavi.

It is Wrong, says vtu v-c maheshappa

H Maheshappa, Vice-Chancellor of Visvesvaraya Technological University (VTU), said, “Colleges should not admit students without PGET and KMAT ranks. If we receive complaints, we will initiate action.” He also said the fee fixed for a government quota seat was just Rs 50,000, and colleges ought not collect the amount ahead of other procedures. “Everything should be done after counselling,” Maheshappa said.

What's in store for students who decide to share their journey with SMSR!

PGCET test for MBA aspirants will be held tomorrow i.e., on 9th August, 2015 and soon they will have to make a decision on which B-School to join. This post will give the aspirants a hint of what to expect from SMSR if they decide to pursue their Masters in Business Administration with us.

Freshers would experience:

• a sprawling lush green campus spread over approximately 100 acres.
• university getup (SMSR is a part of KLE Tech University).
• friendly learning experience.
• company of close to 5000 engineering students to learn alongside with and close to 400 faculty  members to learn from.
• 24 hours wifi connectivity with a dedicated leased line of 20mbps.
• excellent indoor and outdoor sports facility.
• our coveted induction program with consists of 3 days of Ice-Breaking sessions along with a one day off campus training.

Course work at SMSR (for semester 1): 21 Credits, which includes:

• Student Institute and Industry Phase I: One week placement in an allotted organization
• Rural Immersion: One week camp in a village, which you would relish for sure                                                                     
• Communication course: Delivered by the professions
• "Leader In You": A unique audit course introduced this year
• General Assembly: Group events organised by the student teams every Wednesday for both seniors and juniors together.

Experience it for yourself!

Innovation Driven Economy: are we headed in that direction?!

Entrance tests do not test the necessary skills for creativity and innovation. To transform the generation to SMART, we must educate younger generation on innovation driven economy. Paul Bottino of Harvard says that today the real added value is what you can do with what you know. Further he says that the complexity of most economic, environmental or social problems now require a different kind of education. The kind of preparation students are getting is very specialized but when they try to apply their knowledge into problem space, they need to rethink and see much broadly. The higher education system particularly management education must work towards competencies for applying the knowledge, skills and attitude that are learnt. It should create more and more opportunities for students to demonstrate them in real life scenario.

Authored by:

Dr. S V Patil

Professor,

BVB-SMSR

An Interesting Study!

A study on MBA students around the world and their attitude towards responsible management reveals the following facts. This clearly indicates that money making is essential but it is not the ultimate achievement, where as living a happy and comfortable life is absolutely necessary.  As students of management, can we reorient ourselves?

Source : http://www.unprme.org/resource-docs/mgsmprmembastudentstudy2013.pdf