Choosing the best PGDM course

MET: Choosing the best PGDM course

Undergraduate students often have a single question ahead of them, should they go in for an MBA or a PGDM course. While both these are excellent options, they become extremely difficult to choose between quite simply because not too many people know the difference between the two or, because they’re just confused. Let’s simplify the process one step at a time.

Step 1: PGDM or MBA: The basic difference between the two is that one is a diploma, that is granted on the successful completion of a syllabus that is formulated by an autonomous institution. An MBA on the other hand is a degree handed out on completing a course, by a college, through a university. The syllabus of an MBA course is more or less standard and varies very slightly depending on the specialisation chosen in the second year. A PGDM on the other hand is a highly specialised syllabus that aims at creating knowledgeable, skilled professionals who are at the top of their game, when it comes to that particular specialisation. This makes the PGDM course a sought after one, for the fact that students passing out of it are highly trained in a skillset and it makes them perceivably more indispensable than similar pros in the field.

Step 2: Choosing the best PGDM courses: Here’s the lowdown on how to choose the best PGDM course for your skillset.

●        Determine your skills: An aptitude test will clear that out for you in a technical sense, but by the time you reach graduation, you already have a working, instinctive knowledge of the career path you’d like to follow. Basing your decision on your instincts, after getting them validated from near and dear ones, professional colleagues and even professors is the right way forward.

●        Follow industry developments: Having an idea ofwhat is happening in the industry of your interest is an edge to have inchoosing the correct PGDM course. Industry developments will often times decide the course and demand for a certain type of professional which will help you understand and mould yourself into one, with the help of the right PGDM course.

●        Inquire about institutes: Always remember that the reputation, quality of faculty and even the infrastructure the institute offers is about as important as the course itself. Make it a point to draw up a shortlist of the topmost institutes in your field of interest and make pointed inquiries about the parameters laid out earlier. This will enable you to make the right choice for yourself.

Choosing the correct PGDM course isn’t rocket science, but there are a few things that can help clarify things in the minds of prospective students. We hope you find our list helpful, as always we await your feedback in the comments below.

MET: Part Time MBA

MET: Part Time MBA

Is there a particular reason you are constantly overlooked for promotions on a consistent basis? Are you often questioning the veracity of how good you really are at your job? Is there some particular skill you find lacking in your professional life that may help in career advancement? If your answer to any of the aforementioned questions is yes, then a part time MBA may be just the programme to look into.

What is a part time MBA?

A part time MBA is a Masters inBusiness Administration Course for working professionals. Depending on the institution, it may be a 3 year course, with classes at such times as to fit in with a working professional’s schedule. This is particularly beneficial to full time, salaried individuals who are looking to upgrade their educational qualifications without taking a sabbatical from work.

What is the fundamental difference between a regular MBA and a part time MBA?

Other than the duration of the course and its teaching methodology, there are literally no differences between a full time and a part time MBA. The efficacy of the course lies in the teaching and absorption of the imparted knowledge and this is the main reason why many working professionals prefer doing an executive or part time MBA.

What are the benefits of a part time MBA?

Part time MBA has several benefits. The most salient of them are listed below.

1.      Networking Opportunities: Your classmates in a part-time MBa classroom will most likely be professionals like yourself. Proximity to fellow working professionals leads to bonding and this can go a long way in helping you further your own interests. As working individuals, you know that the best way to make a productive career move is through networking. Working together with these individuals will be the most productive ‘job interview’ you will ever give. This simply means that if you impress your peers, they could open doors for you.

2.      Career Advancement: Companies prefer promoting their own employees to positions of importance and your part time MBA is a ticket into the big time. Most students who complete a part time MBA are known to make a vertical leap in terms of their career shortly after having completed their degree.

3.      Company reimbursement: Many companies look upon a part-time EMBA as part of their rewards, training and incentives package. A company investing a sizeable portion of money in you therefore, will be expecting results, which basically means that whenever there is talk of a promotion, your name will automatically be thrown into the mix. In case your company does not have this as a matter of policy, remember to look at a part-time MBA as an investment, rather than an expense. In a recent survey, it was found that people who did complete a part-time MBA were able to pay off an education loan they’d taken for the purpose in a matter of 3 years of their graduation, despite maintaining a more than comfortable lifestyle.

4.      A positive impression: Always remember that an impression always goes a long way in life and the fact that you are pursuing a part-time MBA will only add a sheen to your resume. Not only will people think of you as intelligent, but the professional degree your pursuing will also open doors for you in the future.

Education is an investment that never goes to waste. This simply means that however ‘expensive’ you may perceive a part time MBA to be, it is always worth the returns

MET: MBA in Finance

Whenever you think about a business there are three main functions that come to mind. Marketing, HR and Finance are the three main pillars of traditional business. While marketing and HR are integral to the product and human component of the business, it is finance that greases the wheels of modern commerce and ensures that all other components of the business spectrum are running cohesively. For an MBA in finance an individual must obviously be good at crunching numbers, but skill such as reading trends, predicting rallies (in stock markets) and interpreting policy decisions in monetary terms can all be acquired along the way and a niche as more than just ‘the finance guy’ can be carved for an individual.

What does an MBA in Finance mean?

As stated earlier, an MBA in Finance programme takes the number crunching abilities of a candidate and further polishes it. Students often choose a specialization during the second half of these 2-year programs. In two semesters therefore, a student is exposed to the industry standard of financial accounting, planning, budgeting, preparing balance sheets and other important financial functions. During the phase of specialisation, a student will often get to intern with leading firms, in their respective finance departments, therefore getting to apply the knowledge they’ve acquired over the course of their programme.

What does the curriculum of an MBA in Finance revolve around?

An MBA in Finance hopes to churn out a well rounded business thought leader in the realm of finance. So while the first few months will focus on the basics of business training, an institution that offers a solid MBA in Finance will plunge a student into the world of corporate finance with little delay. A good programme may also allow students to choose a specific focus in their financial education, such as commercial, investment or real estate studies. Topics commonly taught through a finance MBA program include:
● Stock market analysis
● Foundations in finance
● Global economy
● Financial instruments
● Futures and options
● Market trading and volatility
● Risk management
● Bankruptcy
● Corporate finance
● Investment banking





Learning on the job:

Finance as a specialisation isn’t every candidate’s cup of tea, and even though it is a mighty sought after course, learning on the job or at an internship is of vital significance, because it is of the essence to test the knowledge acquired in school, vis-a-vis real world situations.

Potential Growth:

In terms of salaries, in a survey done in March 2014, high payscales were reported for MBA-holders in a variety of financial professions.

● Finance analysis managers earned a median annual income of $81,250,
● A CFO chief financial officer's median annual wages stood at $117,415.
● Entry level MBA saw a take home salary of $58,000 a year
● MBA’s  with 5 or more years’ experience looked at a take home of anywhere between $85,000 and $95,000 a year

All figures are for Fortune 500 companies, as of April 2014, on PayScale.com

Entrepreneurship Do’s and Don’ts

We have more young entrepreneurs than ever before. A lot of people feel that commencing their own venture is so much better than working in an organization. Those bitten by the entrepreneurial bug are willing to take all sorts of risks to ensure that their project takes off from the ground. There are millions of start ups created and some of them don’t survive more than a year or two. Start ups are extremely challenging and difficult and as an entrepreneur one is expected to wear multiple hats instead of just being in charge of their own deadlines and tasks. Managing human resources and money are also extremely crucial for a venture to sustain growth and success. Let’s look at some of the entrepreneurship do’s and don’ts in detail.

Do’s

• Do have a business plan in place. Whether you are in a very nascent stage, seed stage, growth stage or any other stage in the business cycle. You have to know in which direction you want to continue growing.
• Do form a code of conduct. Work culture and work ethic are always passed down from the top management. It is very crucial to have a code of conduct so that the management and team members know exactly how things work in your organization, instead of everyone doing as they please.
• Do stay grounded and focussed. While dreaming big and having huge expansion plans are great aspirations, it is important to keep your feet firmly planted on the ground. Whether you are hiring new team members or raising money, make sure not to get too ahead of yourself.

Don’ts

• Don’t go overboard in the initial phase. Whether it is hiring too many people or borrowing too much capital, make sure to take small steps in the first few years of operations.
• Don’t shy from micromanaging. In the initial phase, in all likelihood, you will have a small team. Feel free to delegate and give responsibility, but make sure to hold all the reins of the business till your team members have completely won your trust and respect.
• Don’t talk a big game. It is important to walk the walk instead just talking the talk. Guard your plans and resources with a lot of care and caution instead over sharing with everyone.
• Don’t be disheartened by failures and setbacks. Let’s face it – things are not going to always go your way and sometimes you will feel that everything is like swimming against the tide. Accept that that’s just part of being an entrepreneur and do whatever needs to be done.

When it comes to running your own business, the learning is endless. There are always new challenges and milestones to be conquered.

Contributed by a Student at MET Institute Mumbai.

Choosing the Right Vocation

The need to create value and the desire to make a difference in the grander scheme of things; these are two things that haunt most people. For some this need to define themselves and their purpose starts at a very early age and somehow magically the right career and vocation finds them instead of it being other way around. For a lot of people, however, it is a constant challenge to find their ultimate purpose in life. They change jobs, get promoted, are good at what they do, but something is always lacking. Is it really possible to combine your career and your vocation aka your true calling? Or will the career always remain something you “have to” do to pay the bills and the vocation will always remain a passion area / creative pursuit?

In order to find one’s true calling or vocation, it is important to correctly define it first. The term vocation is always confused with other correlated terms like job, work profile or career. All these terms, however, mean different things to different people. A job is something you do in order to get a paycheque at the end of every month; in short it is a means to an end kind of proposition. A career on the other hand can be best described as a ladder –promotion, more responsibilities, higher designation are all steps ahead. The rewards in a career are definitely higher than rewards in a job, where you don’t exactly have a sense of direction.

A vocation is something you may invest time, money and effort in, even if it is not really adding to your job or career. It is something that you are really, really passionate about and something that you want to do without snoozing the alarm three times before rolling out of bed.

Everyone is born with a unique set of skills that differentiates them from the crowd. These are gifts that people are born with, but they may take time to identify these gifts in themselves and turn them into a passion or a career. Choosing a vocation has a lot to do with having access to these gifts – it could be attention to detail, time management, being in charge of plans or simply throwing magnificent parties at home. These are the same people that become highly successful in everything from e-commerce ventures to running a cute little bakery to mastering the business of event management.

It can be really frustrating to find satisfaction in what you are doing professionally while you are still trying to figure out your vocation. That’s why it is important to be patient; it is also essential to hold on to your day job till you know exactly where you are headed.

Tips to Succeed at MBA admissions

During the last year of graduation, most students are already either planning internships or doing preparations to get into a good MBA college. While it is a personal decision whether to start working immediately or do a post graduate course, both the options have to be thoroughly investigated before taking a final call. For example, if you want to look for a job, it is important to start scouting for companies that are hiring fresh graduates or the ones that have an internship program. Depending on the field of your choice, it is best to keep your options open. A lot of big corporate companies are looking to hire second or third year graduate students too for their summer internship programs. On the other hand, if you want to pursue a MBA from a recognized college or university, it is best to be prepared way in advance to ensure admission in your choice of institute.

Here are some tips:

1. While keeping your options open is a good idea, it is important to narrow down to at least three colleges that you would want to get into to do your MBA.
   
2. Once you have chosen the top three universities, the next thing to know is the requirements you need to meet to be eligible for admission. Remember, each college may have a different set of requirements.
   
3. The entrance exam is something that you need to prepare for way in advance. It is best to find out the details of the entrance exam, how demanding it is and what kind of score you need to get into the college of your choice.
   
4. It is very important to have all your documents in place at the time of admission. It is advised to keep several attested copies of all important documents.
   
5. Depending on the requirements, the next step after the entrance exam is usually the group discussion and personal interview. Some colleges may only need you to give a personal interview, while others may need you to participate in a group discussion.
   
6. You can get in touch with ex students to know what kind of preparation would be needed for the personal interview. Reading up on current affairs and having knowledge on various subjects are always plus points.
   
7. It is also very important to make a great first impression in the personal interview. Being well dressed, well spoken with your hair in place and shoes spick and span will make a good first impression.
   
8. While it is a good idea to be forthright and confident, steer clear from being too cocky or aggressive in the group discussion or personal interview. Put across your point in an assertive yet calm manner.
   
9. Don’t be disheartened if you don’t get into your first choice. The important thing is that you are pursuing your degree / diploma from a recognized college with good faculty, infrastructure and syllabus to kick-start your career.

How to find out the right career for you

What we do somehow always forms a large part of the puzzle when it comes to answering who we are. We are living in a society where our professional life and identity define to a great extent our social standing and background. With so much importance on career, it goes without saying that there is immense pressure to choose the right career. Not that you cannot change your career, but we all know what a lengthy and time consuming process that can be, especially when there are other financial and family responsibilities. This is exactly why it is important to carefully choose a career and get the right academic qualifications. Hard work, overtime, sleepless nights and deadlines all seem a lot more meaningful when you actually love your work.

Here are some tips to identify the right career choice for you.

• Capitalizing on your strengths has a lot to do with the right career choice. For example, if you have a really analytical and mathematical mind and love numbers, then accounting, risk consulting, audit, etc. may be the right industries for you. But if you choose this career only because everyone else thinks it has a bright future, then you are obviously going down the wrong road. Nobody knows your strengths better than you; so it is best to define what comes naturally and effortlessly to you.

• The next thing to identify is what do you see yourself doing every single day? Some people love the idea of sitting in a fabulous office in a glass building while others simply cringe at the idea of having a desk job. Do you have a more outgoing personality or do you prefer a desk job with a small team? How are your interpersonal skills? What about your convincing abilities? These will all define whether you will do wonders at a back-end job or as front end person.

• Some jobs involve a lot of traveling, moving around and adapting in new environments, while others may involve constant thinking and analyzing of strategies. Depending on the type of personality and attitude you have, you can decide what kind of high pressure situations you will be best equipped to manage. 

Some of us are luckier in the career department than others. Some people just know at a very early age what they are meant to do when they grow up. If you have always known what career you are meant to live and breathe, by no means take a second guess. Go ahead and become a voracious consumer of all the possible information and knowledge in your industry and dive in head first. 

Who should opt for a management course?

Have you recently graduated from a reputed college? Are you wondering what should be your next career move? Are you contemplating going to a management college in Mumbai? Mumbai is definitely a thriving city where there are multiple opportunities for people from all walks of life. Finishing a course from a renowned management institute in Mumbai can be greatly rewarding not just from the knowledge point of view but also from long term success in the job world. But are you the right candidate for a post graduate course in management? Read on to find out:

Taking up a job immediately after graduation is a good idea. Most students are eager to start working and earning as soon as they finish college. Years of exams, books and assignments; the last thing on your mind may be another degree, which will take two years to complete. Hold that thought and temptation. Doing a management course will help you make wiser career choices in the long run. A college graduate may not attract the right job profile and pay package; but a management graduate may be in a better position to negotiate a salary and job profile. So if investing more time in your career is the only reason you don’t want to do a management course, then it is time to rethink some things.

If you managed to get a great internship in a reputed organization immediately after graduation, then kudos to you. An internship gives you the opportunity to work in an organization’s different department and get an overall gist of what exactly to expect when you take up a full time job. Once you have done an internship for three or six months, you can enrol in a management college. This way you have an overview of what kind of work do you see yourself doing day and day out and what kind of management course will come in handy for that. The internship plus management combo should work well for you.

If you have decided to join a family business but are wondering how to bring more organization skills to the table, then doing a management course is your best bet. Whether it is getting respect from people who have worked with the previous generations in your family, or starting a new department in your family company; a good management course will give you the right exposure to handle all kind of business situations. If you dive head first in to the family business without any managerial experience, you may feel overwhelmed and confused. Arming yourself with a degree will definitely help you in everything from expansion to human resource management.

Let’s say you took up a great job as soon as you graduated. Now you have couple of years’ of work experience, but you are finding it harder and harder to raise the bar as far as taking your promotion and paycheque to the next level are concerned? It may be time to get some academic accreditation. Having worked outside for a few years will definitely help you understand the career path you want to choose. You may have been lucky from the beginning and found the right industry, or you may want to completely switch it up. Once you have made up your mind, you can choose the right management course and have more options to choose from.

While choosing a management college in Mumbai, remember to opt one that has the right accreditation and syllabus.