MBA Family Business Management: Course, Admission 2024, Fees, Colleges, Syllabus, Career

MBA Family Business Management is a postgraduate degree programme. The course duration is two years. The course prepares the students to grow their family-run business. It also helps them to start their own family business. MBA degree in Family Business Management provides students with managerial and entrepreneurial skills which are highly desired at present.

This Story also Contains

1. Highlights: MBA in Family Business Management
2. Eligibility Criteria for MBA Family Business Management
3. Admission Process for MBA Family Business Management
4. Top MBA Family Business Management Entrance Exam
5. Cutoff for Top Colleges
6. Skills Required for MBA Family Business Management
7. MBA Family Business Management Syllabus
8. Fee Structure for MBA Family Business Management
9. Scope of MBA in Family Business Management
10. Career Options after MBA in Family Business Management
11. Benefits of Studying MBA Family Business Management
12. Salary Trends after MBA Family Business Management
13. Browse Top MBA in Family Business Management colleges in Top Locations
14. Top MBA Family Business Management Colleges in India with Fees
15. Top Private MBA Family Business Management Colleges in India with Fees
16. Top Government MBA Family Business Management College in India with Fees

As it is a relatively new area of specialisation, not many colleges offer this programme. In India, around 14 colleges and universities provide this course. JMI New Delhi, Sharda University, and NICMAR Pune are the popular college options. CAT, XAT, MAT, and CMAT are the renowned management examinations in India.

The course curriculum includes subjects like Management Information Systems, Principles of Management, Marketing Management, and Operations Research. And Business Economics and Environment are core subjects. MBA Family Business prepares the students for job roles such as Entrepreneur, Business Administrator, Accounts Manager, and Business Consultant.

Highlights: MBA in Family Business Management

Eligibility Criteria for MBA Family Business Management

The eligibility criteria for MBA Family Business Management is the same as other MBA specialisations. Students need to ensure that they meet all the requirements for admission. Listed below are the eligibility criteria for an MBA in Family Business Management required by many institutes in India.

• Students who have passed a bachelor’s degree programme with a 50 per cent aggregate score or equivalent CGPA score from a recognised university are eligible to apply.

• Relaxation of 5-10 per cent may be provided to candidates belonging to reserved categories. It may be different for different colleges in India.

• Applicants who are appearing for the final examination or those awaiting their results are also eligible.

• Many colleges in India also require candidates to have some work experience. Though it is not a requirement.

Admission Process for MBA Family Business Management

After fulfilling the eligibility criteria, students can apply for admission to their desired colleges. They need to appear for entrance examinations. Based on their cutoff score, they can choose the best possible college. Listed below are the admission procedures for an MBA in Family Business Management.

• Students can apply for admission once they have fulfilled the eligibility requirements of the course.
• The admission procedure is entrance-based. After clearing the required examination, candidates can choose the college based on the cutoff score.
• To confirm their admissions, they need to pay the required course fees and submit the documents.

Top MBA Family Business Management Entrance Exam

MBA Family Business Management admissions are based on the entrance examinations. Entrance examinations can be conducted at national, state, or university levels. CAT, MAT, XAT, and CMAT are the popular national-level entrance examinations. Listed below are the details of the MBA in Family Business Management.

Cutoff for Top Colleges

The cutoff for MBA Family Business Management course is influenced by many factors. Those who scored lower than the cut-off percentage are eligible to continue with the course. The MBA in Family Business Management cutoff is determined by the number of applicants, the difficulty level of the examination and the prestige of the institute.

Skills Required for MBA Family Business Management

Students interested in pursuing the MBA Family Business Management degree programme should possess necessary skills. In this field, both hard and soft skills are important. These skills will help the students get the necessary knowledge and skills for a successful career. Some of the necessary skills are mentioned below.

• Strategic mindset
• Time management
• Managerial skills
• Entrepreneurial skills
• Decision-making skills
• Leadership skills

MBA Family Business Management Syllabus

The syllabus for MBA Family Business Management is similar for all the colleges. It can be found either on the website of the college or programme brochure. In the following table, we have listed the syllabus of Parul University for their MBA Family Business Management course.

Fee Structure for MBA Family Business Management

The fee structure is decided by the college administration. It includes admission fees, security deposit, tuition fees, and miscellaneous expenses. It is important to know the fees before filling out the application form. MBA Family Business Management fee generally ranges from Rs. 1.30 Lakhs to Rs. 10.61 Lakhs.

Scope of MBA in Family Business Management

In today’s world, family-run businesses are on the rise. It enables the students to set up their family-run businesses or expand existing businesses. At present, an MBA in Family Business Management has a much broader reach because people nowadays are eager to start their businesses or expand their family businesses.

Students with an MBA degree in Family Business Management can also apply for a PhD in a similar stream. It will help them get high-paying jobs. The average salary of a Business Manager in India is Rs. 11 LPA which depends on the experience and abilities of the applicant.

Career Options after MBA in Family Business Management

Students who have completed their MBA Family Business Management programme can pursue entrepreneurship, or expand their family-owned business. Graduates are qualified to work in both public and private sectors. Some of the popular job roles are listed below.

Business Administrator: Business administrators help businesses run smoothly and achieve their short- and long-term objectives. They also direct other employees on their progress and adherence to business laws.

Entrepreneur: Entrepreneurs are professionals who start a new business. They can bear the risk. They generally have an idea that will help solve a problem.

Account Manager: An account manager is usually the business representative who has the most one-on-one contact with the client. He/she is in charge of the day-to-day chores of responding to customers' wants and complaints, as well as keeping track of their account activities.

Human Resource Manager: Human resources managers plan, organise, and manage an organization's administrative activities. They are in charge of recruitment, and interviewing new employees, as well as consulting with top management on strategy development and acting as a bridge between management and workers.

Top Recruiters

• Deloitte
• Airtel
• Amazon
• KPMG
• Induslnd Bank
• EY
• Wipro

Benefits of Studying MBA Family Business Management

Studying MBA in Family Business Management provides several benefits. In an era of globalisation, modernisation, and commercialisation, the MBA Family Business Management course assists people in staying up to date with recent trends. This also prepares the students to manage difficult situations. To get relevant experience, graduates can also work at MNCs before setting up their family business.

Salary Trends after MBA Family Business Management

The average income of a graduate with an MBA in Family Business Management is impacted by several factors such as job profile, experience, and accomplishments. In the table below, we have listed the average salary of popular job roles.

Source: AmbitionBox

Browse Top MBA in Family Business Management colleges in Top Locations

A variety of higher education institutions offer an MBA in Family Business Management. Depending on the institution and geographic region, the fee may differ. In the table below, we have compiled a list of the best MBA in Family Business Management programmes in India.

Top MBA Family Business Management Colleges in India with Fees

Not many colleges in India provide an MBA Family Business Management course since it is a relatively new specialisation. The fees may be higher for a private college than a government college. In the table below, students will find a list of popular MBA Business Management colleges in India along with their fees.

Top Private MBA Family Business Management Colleges in India with Fees

The fees of a private institute may be higher than a government institute. Students can check the website of the college to learn more course details. Listed below are the popular colleges along with their respective fees.

Top Government MBA Family Business Management College in India with Fees

Not many government colleges in India provide MBA in Family Business Management courses. Government colleges are affordable as compared to private institutes. The table below mentions the fee details of the Parul Institute of Management and Research.

MBA Family Business Management is a promising course. The course equips the students with the skills necessary for setting up their family business or expanding existing businesses. At present entrepreneurship is on the rise therefore, therefore this course will prove to be beneficial for the students.