The document provides information about MBA degrees and business schools. It discusses what an MBA is, the origins of MBAs and business schools in India and other countries. It offers advice on factors to consider before pursuing an MBA such as motivations, course types, specializations and how to select a management institute. The document also provides details on admission criteria and entrance exams for top B-schools in India as well as information on program fees, rankings and accreditation.

1. Compiled by AQME (Association for Quality in Management Education) Before Joining MBA What You Should Know?

2. We welcomeyou to ...

3. What is an MBA?The MBA (Master of Business Administration) is an internationally recognised and geographically portable post-graduate, post-experience academic course in a number of subjects that together can be said to constitute the science of management.

4. It is all about understanding the each and every aspect of business dynamics.

5. An MBA is about learning to work with people, because it is the people who run businesses.Genesis of MBA / PGDM The MBA designation originated in the United States, emerging from the late 19th century as the country industrializedand companies sought out scientific approaches to management.

6. Management education in India started in 1961 with IIMs. Since IIMs were not having status of universities , they were not authorized to issue MBA degree. PGDM (Post Graduate Diploma in Management) was coined for students completing management programmes in IIMs and was later followed by all institutions (other than universities that can give MBA degrees). Origin of B SchoolsThe world's first business school, the Ecole Supérieure de Commerce de Paris, France, was established in 1819.

7. The first business school in the United States, the Wharton School of the University of Pennsylvania, was founded in 1881.

8. Anecdotically, top French business school HEC was also created in 1881, while Harvard Business School, founded in 1908, was born just one year after France's prestigious ESSEC Business School.MBA in IndiaPGDM (Only in India) – Govt. of India started IIMs in 1961 – IIM Calcutta was the first IIM to be set up in collaboration with MIT Sloan School of Management, followed by IIM Ahmedabad in collaboration with Harvard Business School during initial period.The Faculty of Management Studies (FMS) of the University of Delhi which came into existence in 1955 launched its MBA programme for fresh graduates in 1968.

9. What motivates you to do MBA?Improve Career ProspectsLearn new skillsBuild professional networkCareer changeBetter payUpgrade educational qualificationsStart own business

10. What type of course to select?Full Time and ‘Industry Accepted’ course (AICTE / UGC Approval alone doesn’t help much)Regular Two years / One year Executive MBA

11. Part Time, Week end and On line Programmes

12. Distance Learning / Open University courses

13. Finishing School Concept (Experiential Learning for developing right attitude, skill & Knowledge)What Specialization to select? (For Normal B Schools)‘General MBA’ is the best with normal or functional specializations like Marketing, Finance and HR . IIMs and other top B Schools don’t lure students by offering too many electives.

14. Maximum jobs opportunities are in Marketing (70%) followed by Core Finance and HR(each 10%), rest by all other specializations.

15. Dual & Twin specializations have no added advantage.

16. At all costs, avoid new specializations in low budget courses of universities and its affiliated institutes (good faculty is problem).

17. For specialized courses select ‘specialized’ institutes. For ‘Foreign Trade’ - IIFT (http://www.iift.edu), for ‘Rural Management” – IRMA (https://www.irma.ac.in/) and so on.............

18. Any private institute charging less than Rs 6 – 7 Lakhs fees can’t afford to provide quality education in specializations like International Business, Entrepreneurship, Media Management, Healthcare, NGO & Rural Development , Tourism & Travel etc. Begin with Questions (Before joining any MBA Course)What - What type of institutes you can get admission?

19. Why - Why you want to do MBA – for getting good job , starting your own company as an entrepreneur or getting one more degree?

20. Where - Where can you afford to do MBA – Foreign Country, any reputed institute in India or any institute with low budget ?

21. When - When you want to do MBA – Just after graduation, after getting 4 -5 years experience, or along with your job?

22. How - How will you pay back your fees and ROI for the same?

23. Which - Which specialization attracts you or can get job for you? How Overseas B Schools select studentsMost programmes base admission on the Graduate Management Admission Test (GMAT), TOEFL(Test of English as a Foreign Language) and IELTS (International English Language Testing System)Significant work experienceAcademic RecordEssaysReferences or letters of recommendation Personal interviewsExperience in Social work & Society upliftment (Please don’t join any foreign B School that is not highly ranked. You need to spend minimum Rs 30 Lakhs with no guarantee of good placement in India or abroad)

24. Ranking of B Schools International Rankings by Bloomberg Businessweek, US News & World Report, Eduniversal , The Economist and FT.com Eduniversal has started ranking B Schools in India (http://www.eduniversal-ranking.com). D & B is also giving the listing of all B Schools in India and related interviews (http://www.dnb.co.in/IndiasLeadingBusinessSchool/)Rankings by various agencies in India are authentic and genuine at least up to first 10 or 20 ranks, but beyond that could be manipulated to favour the institutes which advertise or financially support them.

25. Are you qualified to do MBA?Can you score ‘minimum cut – off marks’ of admission tests like CAT etc to qualify for admission? Check the admission criteria of top B schools.

26. How good is your academic performance in 10th, 12th and graduate examinations? Good academic records help in getting good jobs.

27. Have you got the basic knowledge of maths of 10th std. level to understand Managerial Economics, Accounting and Quantitative Techniques during MBA programmers? This is required for all specializations.

28. How good are you in English Communication (both written & spoken) ?

29. Are you good in Extracurricular activities like public speaking, debate etc?