MBA in Entrepreneurship in India: Opportunities and Advantages

Have you ever thought about the advantages of launching your own business? Have you ever considered the advantages of having an MBA degree for a new business? If the answer is yes, you are not the only one. Roughly two-thirds of individuals globally view entrepreneurship as a favorable option for a career. The advantages of starting a business range from having control of your work to the joy of turning a new business concept into reality and more. Making the transition from being an employee to becoming an entrepreneur is certainly fascinating.

Overview of Entrepreneurship MBA

An Entrepreneurship MBA is a two-year graduate program that emphasizes teaching skills in business management and supervision. This program aids students in building connections and acquiring knowledge to develop into creative thinkers and entrepreneurs. To enroll in this program, a bachelor’s degree in any area is required, with a preference for business, accounting, or statistics.

Upon finishing their MBA in Entrepreneurship, graduates are equipped with the abilities, expertise, and networks needed to establish their ventures.

• Graduates can start their careers in roles such as Product Managers and Business Development Associates, with initial salaries usually between INR 5 lakh and INR 12 lakh.

• Progressing, graduates have the opportunity to work in mid-senior level roles such as Startup Founder, Director, or Venture Capital Associate, with salaries between INR 13 lakh and INR 20 lakh. Senior roles such as Director or Vice President at a startup can earn salaries between INR 20 lakh and INR 40 lakh.

Those who hold an MBA in Entrepreneurship can pursue careers in a range of sectors including automobiles, advertising, agriculture, banking, small and medium enterprise management, information technology, hospitality, and fashion management. Among the companies that are recruiting these graduates are Deloitte, Google, Apple, Amazon, and JP Morgan.

In addition to these positions, pursuing an MBA in Entrepreneurship can result in lucrative employment opportunities in fields such as manufacturing, professional services, healthcare, and government. Factors such as the cost of living and local market conditions can also impact salary.

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Top Careers

Marketing Manager – 12.5 LPA

Develops, implements, and supervises marketing plans and campaigns to advertise products, services, or brands.

Product Manager – 24.7 LPA

Manages the evolution of a product from start to finish.

Finance Manager – 17.3 LPA

In charge of monitoring the financial well-being of a company.

Business Analyst – 9.5 LPA

Examines, comprehends, and records operational procedures and systems in a company.

Operations Manager – 10.6 LPA

Manages the manufacturing process of products and/or services in a company.

HR Manager – 12 LPA

Manages the human resources department in a company.

CEO – 46 LPA

High-ranking official in charge of key corporate choices, overseeing activities, and guiding the organization toward strategic objectives.

Department Manager – 4.3 LPA

Manages operations, activities, and employees in a designated department of a company or organization.

Project Manager – 19.1 LPA

In charge of supervising the planning, implementation, and finalization of projects in a company.

Sales Manager – 6.7 LPA

Leads and oversees a sales team or department in a corporate setting.

Know More about MBA in Entrepreneurship – Scope and Career Paths

Top Recruiters for MBA Entrepreneurship Students

Amazon, McKinsey, BCG, Bain, Deloitte, Johnson & Johnson, Nike, Ernst & Young, PricewaterhouseCoopers, Tesla, LinkedIn, Procter & Gamble, Accenture, A.T. Kearney, Deutsche Bank, Credit Suisse, IDEO, PepsiCo, Unilever, and GE are among the top companies recruiting MBA students. These companies are renowned for recruiting MBA graduates who specialize in entrepreneurship, providing them with chances to utilize their business skills and creative ideas in different positions within the companies. Leading universities host recruitment events where different companies hire MBA graduates depending on their areas of expertise.

Some Advantages Of Obtaining An MBA That You May Want To Think About When Choosing To Pursue Entrepreneurship

A well-crafted MBA program curriculum can offer you vital knowledge and understanding of the business world. Many students have creative ideas for starting a business, but they lack the fundamental business knowledge. Having an MBA degree is necessary not just for starting a new business, but also for ensuring its success in a competitive market. Taking the MBA course will assist you in developing your ideas and offer necessary practical knowledge in business and how to manage it. You can use your classroom learning in real-life situations and case studies to see how small businesses, start-ups, and large international companies address various challenges.

Obtaining an MBA degree will enhance your leadership abilities and increase your adaptability in terms of career opportunities. In any business, it is essential to be able to communicate effectively to convince clients, as communication plays a crucial role. Business schools have acknowledged that personal skills are essential for successful leadership and that these skills are not innate for most students. Entrepreneurs must possess mental fortitude and flexibility to succeed, as they are essentially leading their endeavors. Therefore, the MBA program assists students in developing various skills including adaptive thinking, collaboration, interpersonal influence, and other essential soft skills. The MBA program will assist students in demonstrating their ideas to clients, partners, and investors. The information acquired in an MBA program can aid students in creating a more comprehensive strategy and persuasive communication style.

Your colleagues could serve as mentors, partners, or potential clients. During your MBA program, you will encounter individuals from various cultures and backgrounds who possess similar levels of ambition. They will have a variety of skills, experience, and knowledge, as well as unique viewpoints on business. This will provide you with valuable insights into the market to help develop your ideas. The MBA program will provide you with numerous chances to connect with others and build a community of like-minded professionals that will be beneficial when starting your own business.

You will have the opportunity to receive guidance from the top experts in the business world, and your teachers can serve as mentors to help bring your idea to fruition. Teachers have a crucial impact on education. The faculty members teaching the MBA course have extensive knowledge and experience. They possess years of knowledge and skill in teaching. Some could be individuals with backgrounds in business as consultants, investors, or entrepreneurs. The students can gain advantages from this by seeking guidance, being mentored, and welcoming constructive feedback. In addition to professors, students have the chance to engage with innovative business thinkers worldwide. Having contact with the most brilliant business individuals can be beneficial.

What Are The Steps To Begin A Career In Entrepreneurship After Completing An MBA?

Beginning a career post-MBA in Entrepreneurship involves applying skills, building connections, acquiring practical experience, and actively seeking out business prospects. Below are a few factors that students should take into account when planning their professional paths:

• Recognize Your Strong Points and Areas for Improvement: Candidates should be aware of their strengths and weaknesses, particularly if they are considering launching their own business. Having a grasp on these factors aids in efficiently handling their businesses.
• Create a Business Concept: If you have a business concept, perform comprehensive customer and market research to improve it. If not, begin by pinpointing a problem or opportunity that catches your attention, and then come up with possible solutions through brainstorming.
• Utilize experience: Start your entrepreneurial endeavor after establishing a strong business plan and necessary resources. Stay ready to modify and revise your strategy according to the insights gained from practical encounters.

The MIT ID Innovation Programme revolutionizes knowledge and experiences, pushing the evolution paradigm to redefine the future of industries, communities, cities, and ecosystems. The program is in line with India’s updated National Educational Policy (NEP), giving students the option to pursue a Post Graduate Diploma in Innovation after one year or complete the full two-year program to earn an MBA in Innovation and Entrepreneurship. Get enrolled today!