Top MBA Programs – The indispensable requisite in addition to the professional degrees
Three MBA aspirants with professional degrees were chatting on a Whatsapp group. They were friends from graduation. One was a CA, one a CFA and one a CS. The talk was about choosing the best from the top management programs. It is interesting to know their thoughts and opinions about MBA institutes.
“Hi guys, which is the appropriate MBA program and specialization for a CA?” The CA posted on a Whatsapp group.
“I’ll opt for MBA Finance Program in XLRI Jamshedpur or IIM Kolkata. That would be advantageous addition to my CV after CFA” The CFA commented.
“Guys, please provide the most suitable MBA Specialization and Business School for me after CS” The CS questioned in the same group.”
“Hey, I think after CS you should opt for MBA in General Business Management from IIM – Ahmedabad” Replied the CFA.
The above given chat represents the thoughts of MBA aspirants with professional degrees. Having cleared finals of CA, CFA, CS or ICWA, students start preparing for MBA entrance exams. Majority of the students do not even have a vague idea of the suitable specializations for their career. This article is meant for such students to help them choose the most suitable MBA program.
The most challenging dilemma for MBA aspirants with professional degrees
The normal CA, CFA and CS get average initial salary of 3-4 lakhs, which increases to 6-7 lakhs after 1-4 years experience. On the other hand, the average salary of the Top MBA programs from top b-schools in India is of 10-12 lakhs. In order to get the additional 3-4 lacs yearly, students have to pay 10-12 lacs as a fees for MBA.
So, the first dilemma for students is “Is it worth spending the two most precious years of your career and almost a million rupees in fees after a professional degree if you don’t earn much more than normal CA, CS or CFA?” Would it not be advisable for professional degree holders to have a look at available alternatives such as starting own practice or pursuing further professional certification abroad.
Secondly, Top B-Schools in India offer a plethora of MBA specializations. MBA aspirants get confused as to which suits their academic background perfectly. Merely holding the MBA degree does not guarantee a successful career. The MBA specialization is worth it only if it adds significant weight to your CV over and above the professional degrees.
PRAQTISE Fact File: 32.22% off the students in PGPX program of IIM Ahmedabad for 2016-17 have professional degrees such as CA, CFA, ICWA and CS.
Choosing Specialization
The top MBA programs of top b-schools in India give assurance of handsome package and jobs in MNCs. The most common specializations students choose are Marketing, Finance, Human Resource, Operations and General Business Management. Each institute has a flagship course. Professional degree holders should ideally target getting into the flagship course itself.
It is advisable that aspirants with professional degrees choose finance specialization for three reasons. First, going for a finance is a more natural way of extending their academics than jumping to marketing, IT etc.. Second, they are familiar with the course syllabus to a great extent. Third, companies hiring for finance give outright preference to professional degree holders.
We have compiled the list of the best institutes for MBA finance specialization.
| Sr. No. | Name of MBA institute |
| 1 | IIM – Calcutta |
| 2 | IIM –Ahmedabad |
| 3 | IIM – Bangalore |
| 4 | IIM – Lucknow |
| 5 | XLRI – Jamshedpur |
| 7 | Jamnalal Bajaj Institute of Management Studies , Mumbai |
| 8 | S.P. Jain Institute of Management and Research, Mumbai |
| 9 | IIM – Indore |
| 10 | IIM – Kozhikode |
A PRAQTICAL Look – Value of top MBA programs
There are few colleges which have the most reputed faculties and highly rated pedagogy with excellent placement record exclusively for finance. The finance specialization from such institutes is considered in the top MBA programs of India. ICFAI (Institute of Chartered Financial Analyst of India) and FMS (Faculty for Management Studies) are the examples of such institutes. Apart from the top management programs of the best b-schools in India, there are specific courses advised for Professionals.
Students with professional degrees may choose specific topics of finance as specialization to get the in depth knowledge. This is beneficial in two ways. First, they are bound to stand out among the crowd during finance placements owing to their specialization. Second, companies hiring for such profiles place students in the exact industry sector they are looking for.
Combining a professional degree with an MBA can work wonders for your career. One should rather emphasize on relevance of specialization rather than falling for hyped names or programs.
In this article we have tried to explain the most suited institutes and specializations for students with professional degrees. Was it helpful? Please tell us in comments.