All India Management Association (AIMA) has played an important role in the field of Management education. How may you ask? That’s simple. Through Management Aptitude Test (MAT), which is conducted by AIMA, approximately 3 Lakh students are screened for management programs.
It’s common knowledge that this exam is basically conducted for admissions to MBA/PGDM programs in different educational institutions. But, we bet you didn’t know that the number of MBA colleges accepting MAT scores, changes every year. Like, this year, there were more than 300 B-schools that accepted February MAT scores for their admissions. But, in the upcoming academic circle, there are only going to be 160+ colleges, that will consider MAT scores for their MBA admissions.
MAT exam is indeed preferred in many ways, by MBA aspirants as the difficulty level of MAT is lower than that of other management entrance exams like CAT, XAT etc.
Also, MAT happens 4 times in a year, which provides ample opportunities for MBA aspirants to secure admission in any B-School of their choice. But we know that the increased fee has become a cause of concern for many students and parents. Worry not! Money is not always the only problem. As for this rising issue of concern for tomorrow’s parents, there is a simple solution.
Realizing this problem, we bring you the best 5 affordable MAT colleges, that you can consider for your MBA
Best 5 Famous & Affordable MAT colleges
1) Indian Institute of Social Welfare and Business Management, Kolkata
This college was set up in the year 1953 by a resolution passed by the Senate of the University of Calcutta. One can call it a joint initiative by the University of Calcutta, the Government of West Bengal, the Government of India to set up a management education Institutions in India, for the first time. And wow, it’s been 60 years of providing good management education in India since then.
They provide management programs in MBA, full-time (day and evening), MHRM, MBA-Public Systems, Masters in Retail Management, MSW, MDP and EDP and also P.G. Diploma in Sports Management, Media, and Fire Management, as well.
MAT exams are the basis of admissions for the two year MBA course (evening) and MBA -Public Systems. Specializations for normal MBA include financial, human resource, marketing, systems and operations and production management. This course comes at a total cost of Rs. 4 Lakhs.
And specializations for MBA- Public Systems include energy, environment, healthcare and logistics management. Its costs come up to Rs. 3,75,000.
Over the years, 100% placement has been observed. On course completion, an average package of Rs. 5-7 lakh p.a. is offered. And their highest package was Rs.10 lakh p.a. So, it’s good to return on investment.
TCS, WIPRO, IBM, Mendine Pharma, ICICI, CRISIL, MAGMA Fincorp, Bajaj Alliance, HSBC are some off-campus recruiters.
2) VIT Business School, Vellore University
This business school was established in the year 1994. Currently, it is ranked 2nd position in the South zone and 17th at All India level. Also, last year, this business school was awarded 2nd position In Beyond IIM’s B-School Survey by Higher Education Survey, at the South Zone level.
Their MBA program focuses on helping students be versatile, and match up with current industry requirements. Specializations include Finance, Marketing, Human Resource, Information Technology and Systems and International Business, Operations and Business Analytics.
MAT scores play an important role in your admissions here, followed by written assessment test and personal interviews. The entire course costs a total of Rs. 5.9 Lakhs.
On course completion, an average salary is about Rs. 5 lakhs p.a. is offered while their highest salary package is Rs.9 lakhs p.a.
HDFC mutual fund, Saint Gobain, Godrej, RBS, Mahindra Finance, Indusland Bank, Airtel, Aditya Birla, ICICI Securities etc. are some of the popular recruiters.
3) Institute of Management, Christ University
Set up in 1994, the MBA program at Institute of Management, Christ University is a two-year program, offering specializations in Marketing, Finance, Human Resource and Lean Operations and systems. This college was ranked 45th by Business Today 2016.
Presently, the entire course costs a total of Rs. 6.75 Lakhs. Further, on course completion, an average salary of Rs. 6 Lakh is offered and their highest salary package was Rs. 10 Lakhs p.a. Every year around 140 companies visit this campus, and they hold an impressive 90% placement record.
4) SRM School of Management
This School of Management was founded in 1993. It is also nationally ranked 1st position among B-Schools in Industrial Interaction – Higher Education Review B- School Survey 2017. It also received the MMA Award for Managerial Excellence.
Moving on, their Management program in Business Administration costs about Rs. 5 Lakhs in total. Apart from valid MAT scores, the final selection of students is based on the Psychometric test, group discussions, and personal interviews.
Now on this course completion, a salary package of Rs. 3 -5 Lakhs p.a. is offered, highest being Rs. 7 Lakhs p.a. Internship opportunities with Rs. 20000 p.m. stipend has added an advantage, here.
5) DC School of Management and Technology
This B- school has emerged as a strong name in the management education sector in the state of Kerala. Established in 2002, it offers MBA program with the following specializations in Marketing, Finance, and HRM and is affiliated to the Mahatma Gandhi University.
Apart from high MAT scores, they also conduct group discussions and personal interviews for selection of students into their MBA program.
On the other hand, their entire program costs about Rs. 4 lakhs, in total. And on course completion, a salary package of Rs.5- 6 lakhs p.a.is offered.
This B-School facilitates maximum placement and recently had set a record with 165% placements through multiple offers for passing out MBA batch, this year.
There are plenty of other suitable options as well. And it is a just a matter of little time, planning out and patience before you find the right management college for you. Our advice is for the aspirants to choose the college wisely as preparation is an integral part but getting enrolled in the best college is even more important.