Scenario – MBA in Nepal
Master’s in Business Administration, widely known as MBA in Nepal, is a highly coveted graduate degree. It is a wide course that provides in-depth theoretical and practical knowledge of business, investment, and management. MBA has been successfully able to attract students from all genres all over the world.
The course is designed to strengthen the real-time business perspective of students. The students can also choose a specialization in one or more fields of accounting, financial markets, corporate strategy, marketing, management, etc. The time period can differ in colleges and countries starting from 9 months, but in Nepal, it is generally 2 years.
How Does an MBA Stand Out in Nepal?
There are many reasons why an MBA is sought after by many students in Nepal. Apart from the versatility of knowledge and skill it imparts to the course-takers, it also has now become a prerequisite to many high ranking job positions. In earlier times, positions like the CFO and CEO used to be at the top of corporate hierarchies, but MBA managers are slowly taking the top spot.
Confidence, team management, HR management, leadership skills, and many other analytic and personality skills also go in hand with MBA, which helps students excel no matter where they are from and where they want to go. Since the startup and corporate culture is thriving in Nepal, MBA is indeed going to open many doors for career opportunities in all sectors.
How is an MBA Different from MBS (Masters in Business Studies) and Masters in Economics?
Choosing a degree, especially a post-graduate one should be a decision to made independently, and without anyone’s influence. There is a lot of confusion regarding whether one should go for an MBA, MBS, or Masters in Economics. Let us illustrate the difference clearly so you can make a clear decision.
The Master of Business Studies (MBS) deals with areas of accounting, finance, marketing, and general management. Similar to the MBA, it equips students for high-level managerial roles in organizations. MBA tends to be a more practical-oriented and comprises of studies at a more administrable level.
Whereas, Masters in Economics is for people who know for sure that they are more inclined towards treasury, finance, and academic or specialized jobs.
However, Compared to most other Masters courses related to Business, MBA has provided greater versatility, and usually accompanied by career growth.
How is MBA in Nepal? The Current Scenario.
Like all over the world, MBA has successfully built its charm in Nepal. It is sought after not only by students with a BBA degree but from students of all backgrounds, be it science or commerce. Even working professionals opt for this course. If we were talking about a decade back, a bachelor’s degree would have been enough in many cases. However, a Master’s degree is almost necessary now if you are thinking of higher-ranking posts incorporates and private firms. An MBA is high in demand, especially in high-level posts. No matter what your degree is, that degree coupled with an MBA is the key to good administrative or managerial posts in all sectors.
Doing an MBA abroad, although not uncommon, is not essential. Many students prefer to get their MBA courses right here in Nepal, and with good reason. The first reason would be that you can get an internationally recognized and acclaimed degree. The standards and methods of teaching have also drastically improved over the years. The learning is practical-oriented. Especially if you are planning to continue your career in Nepal, MBA in Nepal is the best option as the learning is very contextual. Even if you’re planning to go abroad for some experience after your PG studies, you will be competent enough. There are many foreign-exchanges and abroad internship opportunities as well. Doing this degree in Nepal will enable you to experience challenges, opportunities, and growth of international scale in the comfort of your home.
MBA in Nepal is also very affordable, especially compared to the business courses abroad. According to your merit, you can also bag attractive scholarship opportunities. Studying in Nepal can help you build the experience of a lifetime without burning a big hole in your pocket.
The Scope of MBA
MBA began in the late 19th century in the United States. It has come way forward from there. MBAs are in high demand in both government and private sectors these days. The core subjects of MBA are:
- International Business
- Information Technology (IT)
- Human Resources (HR)
- Oil & Gas
- Total Quality Management (TQM)
- Supply Chain
- Tourism & hotels
However, an MBA is not just limited to the core courses. You can choose specialization according to your interest and background, whether it is engineering, accounts, humanities, or arts. According to your stream and specialization, the payment can also vary. According to mbacentral’s latest update, these are the highest paying careers after an MBA degree (core):
- Investment Banker
- Financial Manager
- Chief Technology Officer
- Informational Technology Director
- Marketing Manager
Not just this, there has been proven data of a significant increase in salary after an MBA degree, even for those who already have a Master’s degree related to their field in hand.
The relevance of success and MBA holds true not only in Nepal but worldwide. With the growing economy and market, an MBA is not a degree that will lose its significance anytime in the near future. In fact, the prospects are only increasing more than ever.
Eligibility for MBA in Case of Nepal
Each Management School has its own criteria laid out for enrollment. However, the general requirements include A minimum of 15 years of formal education with a Bachelor’s degree (12 years of schooling plus three years of graduation).
Different universities also layout a GPA or percentage criteria for the students. Some are:
TU School of Management: Minimum 2.0 GPA or 45% in Bachelor’s level b. KU School of Management: Minimum of 50 percent marks in aggregate or 2 CGPA (from universities approved by Kathmandu University).
For admission in IIMS, the student must have a minimum of 50% aggregate from a recognized board in their Bachelor’s degree in any discipline.
Apart from this, the universities also have their own admission tests. Generally, they are:
a) Written tests: These might be similar to the standardized GMAT tests.
d) Group Discussions
It is important to note, however, that the eligibility criteria is not the only aspect. Your academic standing, overall performance, involvement in other extra-curricular activities, and many other factors also count in while choosing a student by the universities.
Fee Structure of MBA in Nepal
An MBA in Nepal is generally two years long. The fee structure is divided according to a semester or yearly basis. It is important to note that these fee structures are highly dependent on the colleges as well. The government colleges cost generally lesser, with an approximate of 3,00,000 – 5,00,000 NRS. The private universities are on the higher end, ranging from 7,00,000 to 10,00,000 NRS.
The price is also dependent on the services provided by the university. Lab Fees, Field Visits, Internships, Thesis costs are also included along with the tuition fees. Make sure to ask what services are being provided with the amount that you will be paying beforehand to avoid confusion later on and get the best decision.
Many universities also provide Scholarships, which can be a great financial aid to many students.
How to Apply for an MBA in Nepal?
Once you’ve met the eligibility criteria, it’s best to contact the college about further processes. The college will most likely have the staff to help you through the entire admission process. An admission test is usually mandatory for admissions. Further processes depend upon the college entirely. These days, colleges even have admission application forms online.
Are You Searching For The Right MBA College in Nepal?
IIMS is a leading and professional MBA college in Nepal. MBA in Nepal is a well recognized, and an esteemed course. MBA at IIMS is designed to groom leaders who will revolutionize the world with their ideas, visions, and innovations.
The course at IIMS designed to give students the academic and technical skills to become independent managers. The aim is to provide each graduate student with broad knowledge in business, and in-depth knowledge in their field, making them more adjustable with their future workplace. This course covers all the requirements of an MBA degree in Nepal, as well as on an international scale.
IIMS stands out in more than one way among the colleges in Nepal. We are not only home to advanced classroom learning, but also beyond. We provide seminars, field visits, sessions from industry experts, attractive internship opportunities, events to groom knowledge. IIMS is a place where leaders get to test their knowledge in action. With many student-led initiatives, each student gets an opportunity to thrive to their full potential. Our successful Alumni are a testament to our success.
Here Are Some Of The Important Details About an MBA at IIMS:
- Credit hour: 70 hours
- Affiliation: IIMS is approved by the Ministry of Education and has the Tribhuvan University Equivalence. We are also affiliated with UCSI University, Malaysia (Top 500 QS rankings), IHG, and UMKC.
- Fee Structure: The full-time fee for 19/20 entry will be 400k. The fee covers the cost of study as well as registration charges.
MBA opens the door to many opportunities. If you are actively looking for an MBA college in Nepal, we suggest that you waste no time and start researching. IIMS warmly extends its arms to help you guide you through your confusion and help you make the best decision.
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