COST OF MBA IN INDIA
●POPULARITY OF MBA
In India pursuing a career mostly depends upon trends. Once there was a prolonged wave of engineering and now there is an existing wave of going to famous B-schools- The IIMs.However it's not just the trend, the ROI that you can gain is worth giving your time and efforts to this degree. It is one of the most practical degrees where you get the chance to experience the best networking with the upcoming CEOs.
The path of getting into a top B-school is not that easy as it may sound! The CAT examination is the entry to it. You have to gain a good score in all the three sections and score more than the sectional cutoff (Quantitative aptitude, data interpretation and logical reasoning and verbal ability and reading comprehension) to become eligible to get a call for various B-schools. Later, a personal interview is conducted and some B-schools also take a written ability test of the candidate. Different Colleges have their own Admission process.
The degree (MBA) is a business itself. It not only teaches you the art and science of management but also allows you to attain the highest level of your personality Against a huge some of money.
Nonetheless, some top MBA Colleges offer the same course at lower cost. Table below contains some examples:
Therefore MBA, the degree itself is a business that gives you the leverage of learning with the best people from the world against your money.
●GUJARAT: A favourable location for MBA
Studies show that Gujarat in India is the most favourite location for B-schools because of its indigenous business culture. Regarding education and employment opportunities, Ahmedabad and other Gujarati cities have a distinct advantage. MBA Colleges in Gujarat offers young grads a thriving atmosphere due to its state-wide business-oriented culture.Even more justifications exist for pursuing an MBA from Gujarat's top business school.
- Gujarat has been developed to offer employment opportunities. MBA Colleges in Gujarat has placed its graduates with greater salaries both locally and internationally.
- Gujarat is becoming a country of internal opportunities, with its GDP increasing by 12 percent annually over the past 12 years. For practically all of the MBA Colleges in Gujarat, the variety of sectors has something to offer.
- The greatest MBA Colleges in Gujarat's Ahmedabad emphasises the importance of building interpersonal skills in its curriculum because doing business requires them.
- Gujaratis are major actors in the multi-billion dollar diamond export industry worldwide and operate more than 17,000 hotels and motels in the US. These are only a few examples that demonstrate how entrepreneurship is pervasive in Ahmedabad and other MBA Colleges in Gujarat.
●WHY MBA IS EXPENSIVE?
MBA is a famously expensive degree. A middle class person either takes an education loan, sells their ancestor’s property or gets a scholarship arrangement for further studies. But there’s the catch, the package and networks one gains after pursuing MBA from a top B-school of India offers exponential ROI of one’s investment. You can easily repay the education loan within 3-5 years after completing MBA and getting a job that pays you a lucrative amount.But the reason why MBA is this expensive lies right in front of our eyes. The cost of acquiring land and building world class infrastructure, operating costs, conducting regular networking events with top class arrangements, hiring the expert faculties, conducting events and seminars, organising trips and spendings on students’ clubs, technological upgradation and so many other reasons raises the bar of its fees.
The actual cost involved in MBA is an Iceberg, way more under the ocean. Apart from academic fees there are more costs involved like cost of preparation, accommodation cost, networking cost, opportunity cost, risk avoidance cost, etc. So for a student who can easily bear all the costs involved, an MBA is a good degree. For a working professional, an MBA could be the best option he/she can pursue to enter a managerial position in the corporate world. But a student who cannot bear the cost of pursuing MBA should really ask themselves again “why do you really want to pursue MBA?”
●COST INVOLVED
Below are some real costs involved in pursuing an MBA degree!- Preparation Cost: There are basically three modes of preparation,
- Classroom coaching - It costs you between Rs 50000 to Rs 120000.
- Online coaching- It can cost you between Rs 5000 to Rs 50000.
- Self preparation- It can cost you just for the books and free resources around Rs 7000.
2. Opportunity Cost: For studying MBA in Classrooms you need to quit your job and there you lose two Years of your salary in a general scenario.
3. Accommodation expenses: Where ever you live, be it for preparation or while pursuing mba you pay hostel fees, this is the accommodation cost. It also includes your food and travelling expenses.
4. Form filling: Your choice may include more than one B-school for a safer side and applying for exams other than CAT (for IIMs) like XAT (XLRI Jamshedpur, XIMB Bhubaneswar and IMT Ghaziabad), SNAP (Symbiosis pune, Noida) , TISSMAT (Tata Institute of Social Sciences), NMAT (NMIMS University) etc will cost you around 40-50 thousand rupees.
5. Academic fees: The most expensive part of an MBA degree. This usually costs ranging from Rs 1,50,000 to Rs 40,00,000.
There can also be other costs involved which may not have been mentioned.
The perks of going after an MBA degree is quite magnificent. The program can turn a student into a successful manager, CFO, CEO, COO, Director and a market leader. Thus, anyone anticipating career growth in the corporate world is suggested for an MBA.
●TAKE AWAY!
MBA is a huge RETURN INVESTMENT! And one should make it as early as possible. For students it is a complex decision whether to make it or not but you must always remember, having an MBA improves one's emoluments.Management is a combination of art and science and the art cannot be taught. Therefore, If you want to earn more… invest in MBA and MBA will invest in you.
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# MBA # India # Education #