MBA or Masters of Business Administration is graduate level degree that covers wide range of business studies like marketing, sales, finance, human resources, operations etc. Students who are looking to enter the corporate world, and get knack of how businesses are dealt – MBA is custom made for them.
Students who are applying for an MBA need to have an undergraduate degree in any field. You don’t need to be a business undergraduate to go for an MBA degree.
The curriculum of an MBA degree covers a wide range of subjects – that help the students to understand every single aspect of how to run a business. The students are even given an option to choose a specialization from a variety of fields; depending on their interest.
MBA also gives you the advantage of a better pay package – According to Forbes; you would almost get a 50% hike on your salary post your MBA degree as compared to pre-MBA degree. If you pass out from the big leagues like the IIM’s – They have seen a 28.38% hike on international salaries than last year and 10% on domestic salaries. Most of the companies come in for campus placements and they pay a lot to get the crème dela crème, the highest average salary that was offered in 2014 was 41 Lakh.
There are many types of MBA programs, but two of the most sought after are a full-time MBA and an Executive MBA – These are the difference between the two.
If you are in a confused state and you do not know which one to go for, here is a brief glance of what makes both full time MBA and an executive MBA different.
- Full-Time MBA
- Completed an undergraduate degree or you are in the final year – when you are applying.
- Cleared the entrance exams like CAT, MAT, XAT, GMAT etc.
- Got the required pass percentage. Most colleges range between 50% – 60%
- If you want to study abroad, then you might require work experience depending on the college to apply to.
- Executive MBA
- You should have an undergraduate degree plus an additional 5 year plus work experience if required
- This degree is specifically made for working executives.
- Some colleges have a minimum age group. Like IIM has a minimum age of 27 and there is no upper limit
- GMAT scores that is obtained between 4 years of the commencement of the program (optional – depending on the college)
- Full Time MBA: This is 2 year course – which is divided systematically into seminars, lectures, projects etc.
- Executive MBA: This is a 1 year diploma – which has a similar course structure to a full-time MBA – but it is more compact than a full time degree
- Full Time MBA:Undergraduates who want to get into the business field, or else is people what to shift their field of work – this degree is well suited for them.
- Executive MBA:Though it has a similar sort of structure as a full time degree, it is custom made for working professionals – people who have been in the corporate industry; or have worked for long and want to come into the business world – this diploma would suit their purpose.
- Full Time MBA:This course is slightly cheaper than an executive one. For example it would range between 10 Lakh and could go up depending on the prestige and the caliber of the college.
- Executive MBA:This is slightly more expensive than full time. It could range between 20 Lakh to 33 Lakh approx. depending on the college. For example IIM A fees are almost 22Lakh and ISB is 34 Lakh.
Most of the time students make the decision based on the money or the time factor. But you have to realize both of the programs are equally good and worth it. Just make an informed decision and be sure of which ever program you choose for. Best of luck for your future.
Author Bio: Trisha is a professional writer and adviser on education and career. She is an ardent reader, a traveler and a passionate photographer. She wants to explore the world and write about whatever comes across her way.
Finding your way out for an HR job starts with facing an HR round first of all. HR personnel are considered as the architects of the organization, which mainly constitutes of human resource. Hence, getting hired for such a daunting job role demands a right approach and knowledge. The following posts talks about how to prepare an impressive resume for HR career.
Human Resource Management is emerging as a hot career option among young students. As a result, with an aim to break into a career in human resource, many aspiring candidates are increasingly pursuing an MBA in HR. Careers and jobs in HR continue to increase in terms of expectations of the recruiters.
To gain the attention of a recruiter, a well-written resume is half the battle won! HR personnel are those involved in hiring the right candidate for the right job profile, handling employee grievances, compensations, and conducting training sessions. Ideally, a candidate who reflects all these related skills through his resume increases the chances of his selection.
Tips for a flawless HR resume
Understand HR Activities: To make an effective impression of your recruiter, it is important to convey the message that you understand the job role for which you are applying. For this it is imperative that you possess a fine knowledge of HR activities such as forging industrial relations, understanding organizational behavior, managing human resource and strategizing management policies.
Focus on Career Highlights: When you highlight your achievements in HR career, there are a few points that need to be considered. These include the need to mention of any leadership initiatives, number of training sessions conducted, level of involvement in organizational developments and any positive outcome. Mentioning such details highlight your capabilities as HR personnel.
Choose functional resume: Writing an HR Resume is about being more expressive by indicating the complete detail of experience and skills in that capacity. For this, choosing a functional resume is a good fit. Give emphasis on mentioning additional job responsibilities undertaken apart from your daily work. Do not forget to stick to conservative formats as well as fonts for writing your resume. Also, you should keep in mind not to exceed the page limit. A latest post on The Wall Street Journal highlights the fact that giant resumes do not impress employers much.
Other point to be considered Your resume is definitely your ticket to the list of shortlisted candidates for a job interview. Considered as a sales proposition of your abilities, skills and credentials, it is vital to make your resume error-free and noticeable from other resumes.
Some other important points that should be kept in mind include:
Attach a Cover letter: This gives an opportunity to let the employer know at a glance about your experience and knowledge in HR field.
Do not compromise with accuracy: Your resume is a certificate of accurate information related to your education, work experience and skills. Hence, it is important to maintain the accuracy of important details provided by you.
Customize your resume: Tailor-made resume is important to provide information relevant to the job you are applying for. Customizing your resume as per the job role as well as the company helps you to meet the expectations of your recruiter.
Proofread: This is one of the important points to remember at the time of writing a perfect HR resume. Proofreading allows you to overcome any typo error, grammatical mistake or check if any important information is missing. So, keep these points in mind to ensure a smooth sailing in your HR job selection.
About the Author
Swati Srivastava is an avid writer and blogger who loves to share her knowledge and ideas on a wide range of topics related to career and education. With an experience of over five years in the field of writing, her articles are published on several reputed education websites.
1) It is an expenditure which is incurred in order to increase the earning capacity of the business.
2) The amount that are received by way of sale of fixed assets.
3) This is non recurring in nature.
4) E.g.: Sale of plant, machine, building, furniture.
1) It is an expenditure which is incurred in order to maintain the day to day affairs of the business.
2) The amount which are received due to the sale of goods.
3) Recurring in nature.
4) E.g.: Sale of goods, interest recurred are examples.
1. Business entity concept
2. Money measurement concept
3. Gang concern concept
4. Cost concept
5. Pual Aspect concept
6. Revenue Realization concept
7. Accrual concept
8. Accounting period concept
1) Objectives if this is to ascertaining and control of costs of products & services.
2) It concerned with the Department or division of the business.
3) The scope of this is limited.
4) It uses Quantitative aspect is recorded.
5) It uses past and present figure.
1) Objectives of MA is to help the management in decision making, planning, control etc.
2) It deals with the both cost and revenue
3) The scope of this is wider.
4) It uses Quantitative and Quantitative information.
5) It is prepared for providing future guidelines.
1) Objectives if this is to provide information to internal use of management.
2) It concerned with the Department or division of the business.
3) It concerned with future plans and policies.
4) It is optical.
5) It is based on judgement.
1) Objectives if this is to provide information to Creditor, Government, Shareholders etc.
2) It concerned with the overall performance of the business.
3) Recording of past events.
4) It is compulsory.
5) It is based on
- Financial Accounting
- Cost Accounting
- Budgetary control
- Inventory control
- Statistical methods
- Taxation methods and procedure
- Internal Audit.
- Analysis and interpretation
- Economic appraisal.
“Management Accounting is concerned with accounting information that is useful to management”
“Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and in the day to day operation of an undertaking” – AACP.
1) To assist the management in promoting efficiency ie service to customer, investors and employees. 2) To prepare budgets covering all functions of business (ie production, sales, research and finance) 3) To analyze monetary and non-monetary transaction.
4) To compare the actual performance with plan of identifying deviation and this causes.