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Master of Business Administration (MBA) is the most preferred post-graduate course choice in India, especially in metro cities, says a survey by university search engine IndiaCollegeSearch.
Most of the undergraduates try to grab an MBA degree as the qualification holds a lot of promise and importance. Moreover, many believe that acquiring an MBA qualification is one of the best ways to get a better job.
As per the report, MBA is more popular in metro cities than in smaller ones, IndiaCollegeSearch CEO Anirudh Motwani said, adding that in India the proportion of people with professional experience is smaller as compared to that of fresh graduates joining the stream, which is contrary to global trends.
When asked about his views on the survey, Sidharth Agarwal, Director, Spectrum Talent Management said, "People who hold an MBA degree find different types of employment opportunities, both domestically and internationally, adding that it is estimated that 70 per cent of the senior managers or board of directors worldwide are MBAs.
An MBA programme is a great way to acquire a diverse set of knowledge in a short period of time and enables graduates to take up challenging and responsible positions in the corporate world.
But students should be careful while choosing the B-school as brand does matter, experts feel.
On the pay package part, experts are of the opinion that though MBA salaries were stagnant in 2013 as compared to 2012, the prospects this year look brighter as market conditions are likely to improve post elections.
"The year 2013 was dull for recruitments and thus its impact was also seen on salary packages of MBA freshers. But, it is expected that market conditions will improve after general elections of 2014 and thus MBA pass outs can expect some good opportunities coming their way," Agarwal added.
According to the report, the average salary of students passing out from colleges accepting CAT (Common Admission Test) score in 2013 was Rs 2.79 lakh per annum, marginally up from Rs 2.72 lakh in 2012.
On the other hand, the average salary of students passing out of colleges accepting CMAT (Common Management Admission Test) score saw a minimal increase, moving up from Rs 2.20 lakh per annum in 2012 to Rs 2.23 lakh in 2013.