CAREER HOTLINE
Basics for joining B-school brigade

Q. I want to do MBA. Can you please tell me about the entrance tests that are conducted for various MBA courses?

— Gurvender Kaur

A. MBA is a professional degree that equips you with the basic tools of business management and prepares you for careers in business and industry. Eligibility for this two-year postgraduate course is graduation in any discipline. While some B-schools specify a minimum 50 per cent aggregate, many others, including the IIMs have waived this requirement). While at IIMs the course fees would be between Rs 1.5 -2 lakh pa , it will be higher in the private institutes.

There are five types of entrance tests for seeking admission to various MBA courses.

Common Admission Test (CAT ): This is the prima dona of all management entrance tests and is conducted each year on the last Sunday of November for admission to the six premier B-Schools — the IIMs located at Ahmedabad, Bangalore, Kolkata, Indore, Lucknow and Kozhikode. About 35 others management institutes (including MDI-Gurgaon, IMI-Delhi, MICA-Ahmedabad, S.P.Jain-Mumbai, Fore School of Management-New Delhi, T.A.Pai-Manipal) accept CAT scores. However, the fact that a B-school accepts CAT scores is no guarantee of the standing of the institute. Nor does it imply any recognition of the institute by the IIMs.

While the "cream" of students are selected through CAT, the remaining seats are filled through MAT, common state-level tests, and the balance through tests conducted by individual B-schools.

Management Aptitude Test (MAT): is conducted by the All-India Management Association (AIMA) for admission to a large number of second-rung management schools. It is held four times a year.

Common state–level tests: e.g. CET for admission to several institutes in Maharashtra, while the UPMCAT is for those in UP.

Other universities and institutions: Many B-Schools conduct their own tests e.g. XAT (for XLRI, XIM, XISS), Symbiosis Entrance Test, NMAT Online (for Narsee Monjee Institute of Management Studies, Mumbai), JMET (for MBA programmes at the IITs and Indian Institute of Science, Bangalore), or those conducted by IMT, ICFAI, FMS (Delhi Univ), IIFT, etc

Prospects of Economics

Q. I am doing B. Sc (Economics). Please tell me about the job prospects if I pursue my Master’s in the subject?

— Nancy Pahuja

A. For starters, you could take the Civil Services Examination, Indian Economic Service or the Indian Statistical Service Exams conducted by the Union Public Service Commission (UPSC) after you have completed your Master’s in Economics/Applied Economics/Business Economics/ Econometrics.

You could also take other competitive examinations held by the State Service Commissions, Life and General Insurance Corporations, nationalised banks, etc., where economics is permitted as one of the subjects and eligibility is graduation. The Probationary Officers Examinations are conducted by the Recruitment Boards of various banks.

The Reserve Bank of India (RBI) attracts young and dynamic postgraduates in Economics with its high pay scale and good working conditions. Besides inducting personnel at the general administration level, the RBI has a Planning Division which recruits research officers in its Department of Economic Analysis & Policy (DEAP).

Large private companies also employ business economists. As a business economist, you may also specialise in market research, international trade or exports & imports.

There are well paying jobs in other banking and financial institutions and insurance companies. Business Economists can also enhance their job prospects by doing an MBA or postgraduate degree in Finance, International Business (MIB).

Teaching is another evergreen option.

— Pervin Malhotra

Please send in your query, preferably on a postcard, along with your full name, complete address and academic qualifications to: Editor, Jobs and Careers, The Tribune, Sector 29, Chandigarh-160030, or at careers@tribunemail.com