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 program is an amalgamation of management, business administration, law, and economics with technology and engineering. It is an excellent degree, comparable to an MBA, with a focus on engineering and technology.
MBA (Master of Business Administration)
MBA stands for Master of Business Administration. It is the most sought after degrees for business students 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
At least a 3 year bachelor's degree or equivalent in any discipline recognized by any Indian University/AICTE as eligible for post-graduate studies is essential. Final year students of graduation can also apply.
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MBA Admission Procedure
The steps followed in the admission procedure are given below:
- Entrance Exam/Written Test: Normally, MBA institutes in India have a written aptitude test. Some of the most common tests you may need to appear for include Common Admission Test -CAT, Management Aptitude Test -MAT, Karnataka Management Aptitude Test –KMAT, Joint Management Entrance Test –JMET.
- Application Essays and Reference Letters: Short-listed candidates for 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 prospective candidates. Many B-schools offer admission on the basis of cumulative scores of the Entrance Exam and 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 PayScale data, MBA graduates can expect to earn anywhere between INR 2.9 LPA and INR 9 LPA when they start out. There are individual cases where students have got much higher packages but this depends on the college they are graduating from and their own ability.
Job designations that can be achieved after an MBA degree, depend on the specialization pursued. Following are a few examples of jobs as per specialization:
- Public Relations Director
- Sales Manager
- Market Research Analyst
- Finance/ Banking
- Chief Financial Officer
- Financial Manager/Analyst
- Portfolio Manager
- Investment Banker
- Human Resources/Personnel Management
- Recruitment And Hiring Specialists
- Director Of Supply Chain Management
- Systems Engineer etc.
MBA Major Advantages
- It helps in development of essential IT skills including 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 in Business Economics)
A Master of Business Economics is a degree that inculcates in students skills in problem-solving and tackling management challenges that a growing business might throw. The program serves as a platform for those who wish their adaptability and problem-solving capabilities are honed.
A two-year course with four semesters of studies, and a 10-week training program (prescribed by some colleges), with a reputed organization will ensure that you have the adequate facilities to meet the challenges of the 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 may have to meet a 55 per cent criteria. 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 organizations. 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 be boosted further 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 strengths, capabilities, and your liking.
So MBA vs MBE? It depends on your liking and taste. If you’re more interested in the economic aspects, then an MBE is for you. While, if you want to analyze the financial side of the coin, then choose the latter.