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Mohit Dhulia
MBA Business Law is a two-year postgraduate management degree. It is founded on commercial law principles that apply to a business, corporation, or industry. This course also covers legal preparation on a variety of lawsuits. Business Communication, Organizational Behavior, Operations Research, Accounting for Managers, and Quantitative Methods are all related to it.
The MBA Business Law program’s key goal is to familiarise students with different facets of civil law. It is a career-oriented course with many lucrative prospects in both the public and private sectors.
The basic qualifying requirements for this two-year course are that an applicant must be a graduate of some discipline from a recognised college or university with a minimum aggregate score of 50%. For entry, the applicant must also pass all of the related tests, such as the GMAT, CAT, MAT, XAT, SNAP, and others. On a state level, a college can also administer its own test.
The following is a list of the top five colleges in India that offer a Business Law programme:
| NIRF Ranking 2021 | College Name | City | Admission Process | Average Annual Fees |
|---|---|---|---|---|
| 2 | IIM Bangalore | Bangalore | CAT | INR 23,15,000 |
| 3 | IIM Kolkata | Kolkata | CAT | INR 27,00,000 |
| 5 | IIT Kharagpur | Kharagpur | CAT | INR 3,14,000 |
| 22 | SIBM Pune | Pune | CAT | INR 9,60,000 |
| 28 | VIT Vellore | Vellore | CAT | INR 3,51,500 |
MBA Business Law admissions are either merit-based or based on an entrance exam. Candidates for entry must have completed a bachelor’s degree in either field and passed the entrance exam administered by the relevant colleges or universities.
MBA Business Law graduates will serve as Law Officers, Legal Advisors, Chief Financial Officers, Assistant Managers, and more, with salaries ranging from INR 4-6 LPA on average.
Some of the course’s major highlights are mentioned below.
| Name of the course | Master of Business Administration in Business Law |
| Course Level | Post Graduate/ Professional Degree |
| Duration | 2 years, full time |
| Stream | Law |
| Examination Type | Semester System |
| Eligibility | Graduation from any stream with a minimum aggregate score of 50% |
| Admission Process | Based on counseling sessions after clearing Entrance Tests (CAT/ MAT) or direct admission in some cases |
| Average Course Fee | INR 3 Lac to 8 Lac |
| Average Starting Salary | INR 4 Lac to 10 Lac |
| Top Recruiting Companies | Educational Institutes, Sales Tax & Excise Departments, Legal Consultancies |
Specific grades in the bachelor’s degree will be used to determine admission to the MBA in Business Law program. Community debate and personal interview rounds are also held at colleges and universities. To be considered for entry, candidates must score well in all of the rounds. Selected applicants would then be summoned to campus to complete the remainder of the admissions process.
In addition, for the admissions process, take these steps:
Applicants interested in pursuing an MBA in Business Law shall meet the following requirements in order to be considered for entry.
The MBA Business Law Entrance Test is one of the most difficult exams that students must take. The following are some of the things they can bear in mind while they prepare for the entrance exam.
Step 1: Do research and learn more about the topics covered in the course. Check for eligibility requirements, submit applications, and keep track of exam times, syllabus, and other important information.
Step 2: Arrange the dates in accordance with the schedule. Exam dates should be noted and a timetable should be created accordingly.
Step 3: One can look up past entrance papers and get a sense of the trend and kinds of questions that will be asked. CAT solved papers from previous exams can be viewed on a variety of websites.
Step 4: Always review the stated syllabus, train, and offer mock tests before taking an entrance exam.
Step 5: The secret to performance is revision.
Any MBA Business Law student aspires to be admitted to one of the best colleges in the country. Here are some considerations to bear in mind when choosing a college.
Numerous colleges and universities accept students based on tests administered throughout the country. A list of a few entrance exams is given below.
| Exam Name | Registration Date | Exam Mode |
|---|---|---|
| CAT | August-September,2020 | Computer-Based Standardized Test |
| XAT | September-November, 2020 | Online |
| CMAT | November- December 2020 | Online |
| GMAT | Throughout the year | Computer-Based |
| MHT CET | January-February 2020 | Online |
| TAN CET | January 2020 | Pen and Paper Based |
| SNAP | August-November,2020 | Computer-Based |
| OPENMAT | June 2020 | Computer Based Test Mode |
MBA Business Law stands for a rigorous assessment of the numerous cases that make up the legal machinery of the corporate world, as well as advanced principles of both public and private law. During this time, one can learn technological, administrative, and leadership skills that will be useful in the future. An MBA enhances industry knowledge, broadens one’s professional network, and opens doors to new opportunities.
An MBA in Business Law curriculum includes all relevant subjects that must be addressed in two years. The following is the MBA in Business Law syllabus:
| First Year | Second Year |
|---|---|
| Introduction to Business Law | Law of Partnership |
| Law of contract | Law of sales of Goods |
| Contracts of Guarantee and indemnity | Law of Negotiable Instrument |
| Economics & Management Decisions | Banking & Insurance Law |
| Marketing Management | The Company’s Act |
| Consumer Protection Act | The Foreign Exchange |
| International Accounting and Finance | International Human Resource Management |
| The Competition Act | Information System/Operations Management |
| International Strategy | Regulation to Information |
| International Business Law | International Trade Law |
| Central Excise Act | Intellectual Property Laws |
| NIRF Ranking 2021 | College Name | City | Admission Process | Average Annual Fees |
|---|---|---|---|---|
| 1 | IIM Ahmedabad | Ahmedabad | CAT | INR 23,00,000 |
| 2 | IIM Bangalore | Bangalore | CAT | INR 23,15,000 |
| 3 | IIM Kolkata | Kolkata | CAT | INR 27,00,000 |
| 5 | IIT Kharagpur | Kharagpur | CAT | INR 3,14,000 |
| 9 | IIT Delhi- Department of Management Studies | Delhi | CAT | INR 4,80,000 |
| 22 | SIBM Pune | Pune | CAT | INR 9,60,000 |
| 28 | VIT Vellore | Vellore | CAT | INR 3,51,500 |
| 92 | NMIMS Mumbai | Mumbai | CAT | INR 9,25,000 |
| – | Mahatma Jyoti Rao Phoole University | Jaipur | CAT | INR 30,00,000 |
| – | Praxis Business School | Kolkata | CAT | INR 6,00,000 |
Details of the MBA Business Law and LLB Business Law course comparison:
| Parameters | Masters of Business Administration Business Law | LLB Business Law |
|---|---|---|
| Duration | 2 years | 2 years |
| Eligibility | Graduation from any relevant stream with a minimum aggregate score of 50% | 45-50% in graduation from a commerce stream |
| Average Course Fees | INR 3 Lac to 8 Lac | INR 60,000-1,20,000 |
| Average Salary | INR 4-10 LPA | INR 4-6 LPA |
| Job Profiles | Law Officer, Legal Advisor, Chief Financial Officer, Assistant Manager, Pay Roll Manager, Legal Assistant, etc. | Accountant, Tax Consultant, Bank PO, Accountant, Event Manager, Lecturer, Chartered Accountant, and Human Resource Development, etc. |
| Top Institutes | IIM Kolkata, IIM Bangalore, IIT Kharagpur, SIBM Pune. | Hindu College, Presidency College, Shri Ram College of Commerce, Loyola College. |
MBA Business Law provides students with knowledge of business leadership and recognises the importance of legal experience, whether they want to pursue a career in law but need a sound base in management. They serve as a link between management and law, bridging the information gap. MBA Business Law graduates can also pursue a PhD from another country to boost their academic credentials.
The following are some of the career opportunities available to MBA graduates:
| Job Profile | Job Description | Average Salary |
|---|---|---|
| Business Development Executive | A Business Development Executive is a senior sales executive. As a senior manager, they are responsible for the company’s growth and development. | INR 2 Lacs |
| Business Process Analyst | The role of a Business Process Analyst is linked to the thought process. Process mapping and company process reengineering are two of their specialties. | INR 6 Lacs |
| Legal Manager | A legal manager advises businesses about their legal rights and responsibilities. They assist in the creation of policies and procedures, as well as the analysis and editing of regulatory documents. | INR 5 Lacs |
| Business Managers | Within a large corporation, business managers can be in charge of a particular department. In smaller businesses, they can be in charge of all divisions. Nonetheless, they supervise jobs, plan everyday tasks, and work against financial and organisational goals. | INR 8 Lacs |
| Legal Advisor | To draft legal papers, structure responses to problems, and provide guidance in legal matters, legal advisors need a substantial amount of formal education. | INR 7 Lacs |
| Professor | Professors in the educational system play a part in training young minds, mentoring, and supervising graduate students as they perform thesis study. | INR 4 Lac |
| Business Analyst | Market analysts are in charge of bridging the distance between IT and the business by assessing processes using data analytics. | INR 6 Lac |
The following is a comparison of IIM Kolkata, Bangalore, and Kharagpur as colleges:
| Parameters | IIM Kolkata | IIM Bangalore | IIT Kharagpur |
|---|---|---|---|
| Overview | IIM Kolkata is one of the first IIM established across the country. It provides education across PG, Executive, and Doctor-level courses in the management sector. | IIM Bangalore is one of the management institutes located in Karnataka and established in 1973. It provides courses in Postgraduate and Doctoral fields. | IIT Kharagpur is the first institute that was established in Kolkata. It provides specializations across the dual degree, UG, PG, and doctoral levels. |
| Rank | 14 | 2 | 4 |
| Average Course Fees | INR 11,25,000 to INR 27,00,000 | INR 18,60,000 to INR 21,39,000 | INR 25,465 to INR 3,14,000 Lacs |
| Average Salary Offered | INR 21.36 LPA to INR 124.9 LPA | INR 18,00,000 to INR 26,00,000 | INR 8.25 Lacs to INR 14.20 Lacs |
| Top Placements | Amazon, HSBC, Vector, OYO Rooms, Trident Group, Invest Punjab | Amazon, Aditya Birla Group, Deloitte, Gamble, Citibank | Cognizant, Deshaw, Cisco, Cypress, Amazon |
MBA Business Law is without a doubt India’s most coveted academic degree. Throughout the course, students develop skill sets in the areas of drafting legal briefs, policy papers, normal operating and reporting procedures for the implementation of business decisions, and so on. The potential prospects for MBA Business Law graduates are described below.
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