MBE vs MBA
An MBA is a post graduate degree in business communication. Irrespective of the industry or profession, an MBA degree can benefit those in positions in business and management, especially those in executive and managerial positions.
The MBE programme is an amalgamation of management, business and economic techniques. The Master of Business Economics provides a strong foundation in economic principles and meets the needs of decision-makers and advisors in business and related areas.
Both the courses are available through regular and distance mode.
MBA - Masters of Business Administration
MBA stands for Masters of Business Administration. It is the most sought after degrees for business students in the world over. An MBA degree is vital for career advancement in the present-day competitive world.
It develops the knowledge and skills of a demanding job which requires, persistence, energy, and time-management skills to handle it. It inculcates the values of teamwork, leadership, and ability to motivate others.
MBA Eligibility Criteria
Atleast a 3 year bachelor's degree or equivalent in any discipline recognised by any Indian University / AICTE as eligible for post-graduate studies, and final year students of graduation can also apply.
The steps followed in the admission procedure are given below:
- Entrance Exam / The Written Test: Normally, MBA institutes in India have a written aptitude test. The most of the colleges conducts Common Admission Test -CAT, Management Aptitude Test -MAT, Karnataka Management Aptitude Test –KMAT, Joint Management Entrance Test –JMET.
- Application Essays and Reference Letters: The short listed candidates of the IIMs and some other leading management institutes are expected to write these essays. Group discussions and personal interviews (GD/PI) are also conducted to determine the Strengths and Weaknesses and communication skills of the candidates. Many B-schools offer admission on the basis of cumulative scores of the Entrance Exam, GD/PIs.
Some of the leading institutes in India offering MBA education include:
- Indian Institute of Management - Ahmedabad (IIM-A)
- Indian Institute of Management - Bangalore (IIM-B)
- Indian Institute of Management - Calcutta (IIM-C)
- Indian Institute of Management - Indore (IIM - I)
- Indian Institute of Management - Kozhikode (IIM - K)
- Indian Institute of Management - Lucknow (IIM-L)
- Xavier's Labour Relations Institute (XLRI)
- Faculty of Management Studies (FMS)
- Jamnalal Bajaj Institute of Management Studies (JBIMS)
- S. P. Jain Institute of Management and Research (SPJIMR)
- NarseeMonjee Institute of Management Studies (NMIMS)
- Institute of Management Technology (IMT)
- Xavier Institute of Management (XIM)
Jobs After MBA
As indicated by numerous surveys, the financial remuneration for graduates from the leading MBA Schools in India is good, both in the short and long-term.
As per a National Salary Data, an Human Resources (HR) Manager’s salary ranges between Rs 197,764 to Rs 1,085,612, for a Business Analyst, salary is between Rs 255,302 - Rs 929,102, per annum. For a Marketing Manager salary is likely to be some where between Rs 226,513 - Rs 1,413,829 , and for a Business Development Manager it is likely between Rs 215,897 - Rs 1,385,617 per annum.
Job designations that can be achieved after an MBA degree, depending on the specialization acquired. Following are a few examples of jobs as per specialization:
Public Relations Director
Market Research Analyst
Chief Financial Officer
Human Resources/Personnel Management
Recruitment And Hiring Specialists
Director Of Supply Chain Management
Systems Engineer etc.
MBA Major Advantages
- It helps in development of IT skills, such as, knowledge of statistical packages, spreadsheets, databases and programming languages.
- It develops problem solving skills in the person and the ability to overcome difficulties.
- It promotes original and creative thought.
- It ingrains cross-cultural awareness as it usually involves working with people from many different nationalities and backgrounds.
MBE - Masters of Business Economics
A master of business economics is a master of problem-solving and tackling management challenges that a growing business might throw. The programme will serve as a platform for those who wish their adaptability and problem-solving capabilities honed.
A two-year period with four semester of studies, with a few colleges advocating a 10 week training programme with a reputed organisation will ensure that you have the adequate facilities to meet the challenges of a financial world head on.
MBE Eligibility Criteria
Most colleges require an undergraduate degree is commerce or business studies with an aggregate of 50 per cent. Those who wish to apply from the science, engineering, or arts background have to meet a 55 per cent criterea. This will vary from one institute to another.
Delhi University, Annamalai University, Symbiosis Center for Management, Asia Pacific Institute of Management Studies are some of the colleges that you could look at.
MBE Career Prospects
A graduate in MBE has great career prospects. You could serve as consultants, resource economists, policy advisors or analysts in a number of public and private sector organisations. Research in the area of economics is also a prospect you could look into.
The salary of a MBE graduate can be anywhere between Rs 3 lakh to Rs 4.5 lakh and can grow even more if you aim at reputed multi-national companies. You could even opt for a job in the banking or financial sector. Consultancy, advertising and retail are also options- depending on your strenghts, capabilities and your likings.
MBE Major Advantages
- It provides a strong foundation in economic principles.
- The program does not presume prior knowledge or training in economics.
- It develops the economic skills and problem-solving skills.
Students develop a critical ability in applying economics to practical situations.
So MBA vs MBE? It depends on your likings and taste. If you’re more interested in the economic aspects, then an MBE is for you. While, if you want to analyse the financial side of the coin, then choose the latter.