MBA Colleges in Jharkhand

Located in the eastern part of India, Jharkhand is the leading state in terms of economic growth and one of the richest mineral zones in the world with its reserves in India recorded at 40% of Minerals and 29% of Coal.

 Jharkhand has another added advantage of being located close to the major ports of Kolkata, Haldia, and Paradip for easy transportation of minerals.

 The following are the major Industries in Jharkhand State:

 Mining and Mineral Extraction

• Iron and Steel
• Engineering
• Chemicals
• Handloom
• Food and Beverage
• Automotive
• Cement

 Initiatives of the Government of Jharkhand for the development of the State for additional employment opportunities:

Department of Labour, Employment and Training, Government of Jharkhand has devoted itself to strengthening the skilled manpower in all sectors of the state to meet the fast-growing needs in the changing economic scenario.

These initiatives of the Government of Jharkhand provide the students with access to cutting-edge technology, world-class infrastructure, high-quality mentorship, early-risk capital, and global exposure, resulting in high-end jobs for Management Graduates/postgraduates in the next decade.

Top MBA Colleges/Management Schools/Institutes in Jharkhand State as per Rankings:

To meet the current demand, many MBA Colleges have been set up in Jharkhand, and as such the importance of Top MBA Colleges emerged for eligible students to decide the best college for pursuing a bachelor’s degree in management in Jharkhand.

This article is intended to keep abreast of the information with respect to Top MBA Colleges in Jharkhand to enable the prospective candidates to decide without any ambiguity.

Rankings of Management Colleges/Institutes are vital for the aspirants to understand which College is doing the best in terms of imparting education and suitable training in all respects.  So, these rankings help students to take a lead to find Top MBA Colleges in Jharkhand State. There are several Agencies that award rankings to Top MBA Colleges in India every year. NIRF (National Institutional Ranking Framework), a popular Agency approved by the MHRD (Ministry of Human Resource Development) to rank institutions of higher education in India based on 5 (five) Parameters – Teaching, Learning and resources, research and professional practices, graduation outcomes, outreach and inclusivity, and perception.  Hence, rankings awarded by NIRF assume importance for the top MBA Colleges in Jharkhand to make a choice. The following table provides the same.

Top MBA Colleges In Jharkhand State Based On All India Rankings 2022 Awarded By NIRF

Top MBA Colleges In Jharkhand Based On All India Rankings Awarded By Times Survey 2022

Times Engineering Survey 2022, an Optimal Media Solutions partnered with Avance India conducted M.B.A Institutes 2022 Survey and determined the Top MBA Institutes in India, based on the following Parameters/Modules:

Module 1:  Desk Research

Module 2:  Perceptional Survey

Module 3:  Factual Survey

Module 4:  Analysis

The following table provides the rankings of Top MBA colleges in Jharkhand State based on All India Times Engineering Survey 2022 :

Top MBA Colleges in Ranchi based on popularity:

The majority of Top MBA Colleges in Ranchi City.  In the following table, other than the above (NIRF/Times ranked), popular MBA/Management Schools/Institutes in Ranchi City are depicted :

Eligibility Criteria and Process of admission in top MBA Colleges/Institutions in Jharkhand:

• A citizen of India
• Must have passed a bachelor’s degree of 3 years from a recognized university/college.
• 50% minimum marks (45% for reserved categories) in their qualifying examination.
• Candidates who are in the final year of their graduation can also apply provided the necessary proof is submitted as required. Group Discussions and Personal Interviews are necessary in the case of many Top MBA Colleges.

• The process of admission is through counseling by the respective Agency conducting the common entrance test and/or GDPA conducted by the School/University concerned.

Following are the Common Entrance Tests considered by Top MBA/Management Schools/Institutes in Jharkhand for admission to a 2-year postgraduate degree in Master of Business Administration (MBA)/PGDM.

• Common Admission Test (CAT)

CAT is the mandatory computer-based Common Admission Test for admission to MBA/PGDM programs in 20 Indian Institutes of Management (IIMs) and other top MBA colleges in India. It is the largest national-level MBA entrance test in India.

• Common Management Admission Test (CMAT):

CMAT is a National Level Entrance Examination for admission to Management Programme(s) in the country which is considered by Top MBA/Management Schools/Institutes in Jharkhand.

• Management Aptitude Test (MAT)

MAT is a standard aptitude test conducted in India since 1998 by the All-India Management Association (AIMA). MAT is used for admission to MBA and allied programs by over 600 business schools across India including top MBA Schools/Institutes in Jharkhand.

• AIMS Test for Management Admissions (ATMA)

AIMS Test for Management Admissions or ATMA is a national-level exam conducted by the Association of Indian Management Schools (AIMS) for admission to MBA, PGDM, MCA, and PGDBA courses.

• Graduate Management Admission Test (GMAT)

GMAT is the first and only standardized exam specifically designed for admission to graduate business and management programs. It sets the standard to predict the academic performance of aspiring candidates in today''s graduate management programs.  Top MBA Schools/Institutes trust this examination for admission to an MBA degree.

• Xavier Aptitude Test (XAT)

XAT is an online CBT (computer-based) management entrance exam for admission to MBA/PGDM courses offered by XLRI Jamshedpur, XIMB Bhubaneswar, SPJIMR Mumbai, IMT Ghaziabad, etc along with other 156 management institutes in the country.

Fees Structure vis-à-vis ROI of Top MBA/Management Schools/Institutes in Jharkhand state:

Return on Investment (ROI) is a popular profitability metric used to evaluate how well an investment has performed.  In the undermentioned table, we have also added another column to show “returns” through the average annual pay package a student/aspirant is expected to get through placements (campus or directly with experience) from top IT and other Multinational companies in India, against the fees he/she payable to the top MBA/Management Schools/Institutes in Jharkhand.     

Top MBA Colleges In Ahmedabad – Fees Structure Vis-à-vis Roi (Return On Investments)

ROI (Return on investment) referred to above is the annual salary package in CTC.

The figures mentioned above are only indicative and vary depending on the specialization.

Top Trending Specialisations offered in Top MBA Colleges in Jharkhand State:

Given below are the top trending specializations with brief details of each that are offered in various MBA programs in various Colleges/Institutes in Jharkhand State:

• Finance

This specialization/Branch in MBA in the field of Finance includes various facets like investments, portfolio management, derivative securities, capital markets, corporate finance, international finance, financial institutions behavior, Advertising, etc.,

• Operations and Production Management:

This offers advanced knowledge on various facets of business practices, auditing, and tax laws, and exposes the candidates to organizational efficiency, business valuations, and management of innovations.

• Marketing Management

This is one of the most opted and topmost specializations of MBA, which focuses on advanced concepts of Marketing viz., Digital Marketing, Consumer behaviour, Advertising etc.,

• Business Analytics

This is also one of the most popular MBA specializations which deals with Core business Fundamentals and gets training to consider business from a data-driven perspective.  It has multi-faceted exposure to various fields in business analytics like Artificial Intelligence & Deep Learning, Multivariate Data Analysis, Business Analytics and Intelligence, business Forecasting, Social Entrepreneurship, and Marketing Analytics.

• IT Management

This subject broadly enables the candidates to improve the skills needed to manage both IT systems and employees, in-depth business knowledge, information security, telecommunications, and IT project management.

• Human Resource Management

This specialization deals with recruitment, and management offers training and empowers knowledge in managing the workforce of an organization with appropriate direction and guidance.

• Supply Chain Management

This enables the candidates to get exposure to Company Resource Planning, Global Trade, Inventory Management, Retail, Risk Management, Sales and Operations Planning, Sourcing and Procurement, and supply chain optimization.

• Health Care Management

This has assumed importance in the recent past, with various Corporate Hospitals and Multinational pharmaceutical companies looking for MBA candidates having this specialization.  This course includes subjects such as Principles of Health Service Management, Organization Behaviour, Materials and Equipment Management, Health Economics, and Strategic Human Resource Management. 

• International Business Management

This is one of the Topmost MBA specializations, being unique and focusses on the subjects like Foreign Trade Finance and Forex Risk Management, Foreign Trade Policy, and Export Management and trains the candidates on various procedures and documentation involved in export and import, methods of approaching customers in foreign countries, currency conversation & fluctuation, raising capital from the international market, and distribution market.

• Agriculture Business Management

This specialization has assumed importance in the recent past with the focus of successive Governments on the agriculture field. This Top MBA specialization mainly focuses on the business areas of agricultural production and global trade. 

This specialization also deals with Agriculture food policy, Agriculture Finance, Marketing, Strategic Food marketing, Management for Agribusiness Projects, Market Research, and Information systems, International Agri-food trade.

Top MBA Colleges– Placements:

Students of the MBA Programme with specialization in Finance, Marketing, General Management, Business Analytics, and Entrepreneurship stand a fair chance of grabbing the highest salary package during campus placements.  By and large, specialization is chosen, College/Institute, Company, the experience of the candidate, and finally performance in the Written Test/PI are the major factors that are responsible for getting the highest annual package by the students from Top MBA Colleges in Jharkhand.

During the placement drive in 2023 in XLRI, Jamshedpur, the highest domestic salary package of Rs.78.0 LPA (CTC) was offered, and the average package offered was Rs.30.80 LPA (CTC).  Average annual salary packages offered to students of MBA Colleges in Jharkhand range between Rs.4.25 LPA to Rs.12.0 LPA (CTC).

A list of top Recruiting Companies visiting Top MBA Colleges in Jharkhand State is provided in the table hereunder:

Know About - TOP MBA Colleges  IN PUNJAB

Know About - TOP MBA Colleges IN GUJARAT

Conclusion:

• Postgraduate Programme MBA/PGDM is a two-year professional degree, and many Techies/Graduates prefer to pursue this Programme to get a raise in their salary, enhance their employability, launch his/her own business, and emerge as a Leader holding much higher responsibility in their career.

• There are 45 MBA Colleges /Management Schools/Institutes in Jharkhand offering MBA/PGDM Programs, including 25 private Colleges/Institutes, 16 Government (Public) Colleges/Deemed to be Universities.

• Students aspiring to pursue MBA/PGDM  must obtain an appropriate rank/score in CAT/MAT or any other equivalent National Common Entrance Test, besides holding an undergraduate degree with required marks.
• Students have a wide choice of specializations to choose from depending on their interest and need.

• Average annual salary packages offered to students at Top MBA Colleges in Jharkhand range between Rs.4.25 LPA to Rs.12.0 LPA (CTC).