MBA Business Law Latest Updates
27 Nov, 2024 hii i am desc 2049
27 Nov, 2024
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MBA Business Law is a 2-year postgraduate degree in management. It is based on concepts of commercial laws associated with an organization, firm, or industry. This course also highlights education related to various lawsuits. It is relative to other important topics like Business Communication, Organizational Behaviour, Operations Research, Accounting for Managers, and Quantitative Methods.
The main aim of the MBA Business Law is to familiarise students with the various aspects of civil law. It is a very career-oriented course and many lucrative opportunities are available both in the public and private sectors.
This 2- year-long course has minimum criteria of eligibility, that a candidate must be a graduate in any disciple from a recognized college/ university with a minimum aggregate score of 50%. The candidate also has to qualify any of the relevant exams for admission, like GMAT, CAT, MAT, XAT, SNAP, etc. A college may also conduct its own exam on the State level. Check MBA Full Form
MBA Business Law admissions are based on merit based or entrance based. Candidates seeking admission must have passed graduation with any stream and qualify the exam conducted by the respective colleges or universities.
MBA Business Law graduates can work as Law Officer, Legal Advisor, Chief Financial Officer, Assistant Manager, etc and the average salary package is INR 4-6 LPA. Read MBA Specialization
Read More: Top MBA Colleges in Maharashtra
MBA Business Law Highlights
Tabulated below are some of the major highlights of the course.
| 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 |
What Is about MBA Business Law?
MBA Business Law stands covers a study of the various lawsuits that form part of the legal machinery of the corporate world besides covering advanced concepts in both public and private law. In this period of time one gets to learn technical, managerial, and leadership skills that are needed further in job prospects. Earning an MBA adds value to business acumen, expands professional network, and creates new opportunities.
- MBA Business Law is a 2-year postgraduate course involving the concepts of commercial laws associated with an organization, firm, or industry.
- This course follows the basic rules of a management course, knowledge about the commercial elements of law, and essential business skills spread over 4 semesters.
- MBA Business Law aims to familiarise students with the various aspects of civil law.
- It is beneficial for accountants, lawyers, business professionals, and entrepreneurs who want to enhance their skills in the field of law.
- Some important topics covered in MBA Business Law are Business Communication, Organizational Behaviour, Operations Research, Accounting for Managers, and Quantitative Methods.
Read More: How to get Admission in MBA Business Law
Admission to MBA in Business Law program will be done on the basis of the candidates' individual scores in the bachelor degree. Colleges/Universities also conduct group discussion and personal interview rounds. Candidates will have to perform well in all the rounds to get selected for admission. Selected candidates will then be called to the campus for completing other admission formalities.
Further, follow these steps for your admission process:
- Check the eligibility criteria and fill a form of the college you want to apply for.
- The necessary documents and information should be submitted.
- Prepare for an entrance test
- After qualifying the entrance be prepared to face a group discussion and a personal interview.
- After going through all these processes you will be put into categories, whether you have been selected or not, or on a waiting list.
- If you have cleared all the steps above then you will allot a seat in that particular college.
- Once the allotment is completed the candidates are asked to fill the registration fees and admission fees.
MBA Business Law Eligibility
Candidates seeking admission in MBA Business Law must fall under the following criteria to be eligible for admission to this course.
- Applicants must have completed their higher secondary and have an undergraduate degree from a recognized board.
- Applicants must appear for their entrance exams in their final year of the bachelor’s course so that they can apply to MBA Business Law colleges right after graduation.
- Applicants must have an aggregate of 50-60% in their bachelor’s degree.
- Applicants must obtain valid marks in their entrance exams in order to satisfy the college/university cut-off.
Read more: top MBA colleges in India
What are the Entrance Exams for MBA Business Law?
Various colleges and universities intake students on the basis of exams conducted all around the country. Below given is a list of a few entrance exams.
| Exam Name | Exam Details |
|---|---|
| CAT | Check Here |
| MAT | Check Here |
| SNAP | Check Here |
| IIFT | Check Here |
| IBSAT | Check Here |
| CMAT | Check Here |
| MAH CET | Check Here |
| NMAT | Check Here |
| ATMA | Check Here |
| XAT | Check Here |
| TISSNET | Check Here |
| TANCET | Check Here |
How to Prepare for MBA Business Law Entrance Exams?
Preparing for MBA Business Law Entrance Exam is one of the toughest exams that the students have to face. Below given are the following points that they must keep in mind while preparing for the entrance exam.
Step 1: Research to gather information about the subjects in the course. Check for the eligibility criteria, fill applications, and mark the exam dates, syllabus, etc.
Step 2: Schedule the dates according to your routine. An individual should mark the dates of the exams and prepare a schedule accordingly.
Step 3: One must search for previous entrance papers so that he/she has an idea regarding the pattern and types of questions.CAT solved papers of former exams are found on various sites.
Step 4: Before appearing for an entrance test always study the mentioned syllabus, practice, and give mock tests.
Step 5: Revision is the key to success.
How to get Admission in a Good College that offers MBA Business Law?
Every MBA Business Law aspirant seeks to get admission to one of the best colleges, below given are a few points that everyone must keep in mind while selecting the desired college.
Step 1: Search and make a list of colleges offering MBA that you want to apply for.
Step 2: Before applying for the college check the eligibility criteria.
Step 3: Prepare for the Common Entrance Exam (CAT)
Step 4: After you have cleared the entrance look for the application form. Fill it with the details asked for.
Step 5: Submit the important documents asked for.
Step 6: Keep a track of the important dates announced by the college.
Step 7: Prepare for the group discussion and personal interview as your admission depends on your overall performance.
Step 8: Once you are able to crack the entrance, group discussion, and personal interview you are most likely to get your admission through. Next, you need to pay your fees on time in order to confirm your admission.
MBA Business Law Syllabus
The syllabus of an MBA in Business Law consists of all important topics which are to be covered in two years. The syllabus of MBA in Business Law is listed below:
| 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 |
Check out: CAT 2023 Updates.
MBA Business Law Top Colleges
| NIRF Ranking 2023 | College Name | City |
|---|---|---|
| 1 | IIM Ahmedabad | Ahmedabad |
| 2 | IIM Bangalore | Bangalore |
| 3 | IIM Kolkata | Kolkata |
| 5 | IIT Kharagpur | Kharagpur |
| 9 | IIT Delhi- Department of Management Studies | Delhi |
| 22 | SIBM Pune | Pune |
| 28 | VIT Vellore | Vellore |
| 92 | NMIMS Mumbai | Mumbai |
| - | Mahatma Jyoti Rao Phoole University | Jaipur |
| - | Praxis Business School | Kolkata |
MBA Business Law College Comparison
Here’s the college comparison amongst IIM Kolkata, Bangalore, and Kharagpur:
| 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 vs LLB Business Law
Details of the course comparison on MBA Business Law and LLB Business Law:
| 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 Job Prospects and Career Options
MBA Business Law equips students with knowledge of leadership in business and knows the value of legal expertise, or whether they're primarily interested in a career in law but seek a solid foundation in management. They work as a bridge between the knowledge gap by bringing management and law together. MBA Business Law graduates can also opt for PhD from abroad and enhance their academic credibility.
The job prospects in MBA are highlighted and described down below:
| Job Profile | Job Description | Average Salary |
|---|---|---|
| Business Development Executive | A Business Development Executive is a high-level sales professional. Being the senior manager they work on the growth of the business, to develop it more. | INR 2 Lacs |
| Business Process Analyst | A Business Process Analyst’s work is related to the thinking process. They are skilled in process mapping and business process reengineering. | INR 6 Lacs |
| Legal Manager | A legal manager provides legal advice on the legal rights and obligations of corporations. They assist in drafting policies and procedures and review and edit regulatory documents. | INR 5 Lacs |
| Business Managers | Business managers might oversee a specific department within a large company. While in smaller companies, they might oversee all departments. Nonetheless, they manage daily activities, supervise work, and push toward financial and operational objectives. | INR 8 Lacs |
| Legal Advisor | Legal Advisors require a significant amount of formal education to draft legal documents, structure solutions for issues, and provide support in legal issues. | INR 7 Lacs |
| Professor | Professors being in the education system play a role in educating young minds, mentor, and supervise graduate students while conducting research for a thesis. | INR 4 Lac |
| Business Analyst | Business Analysts are responsible for bridging the gap between IT and the business using data analytics to assess processes. | INR 6 Lac |
Read More: MBA Business Law placements
MBA Business Law Jobs and Salary
What is the future scope of MBA Business Law?
MBA Business Law is no doubt the most aspired academic course in India. Students gain skill sets in matters of laying down legal briefs, policy documents, standard operating and monitoring procedures for execution of business decisions, etc. throughout the course. Below given are future scopes for the MBA Business Law graduates
- MBA Business Law graduates can help corporate houses in legal counsel, contracts, and litigation management of the firm.
- They can also work as a consultant for Transaction Advisory, Negotiation, Risk Advisory, Dispute, Finding contracts to various types of Law firms and clients.
- MBA Business Law graduates can also work as social entrepreneurs along with NGOs with funding sources under FARC.
- They can also pursue their study and apply for PhD or move abroad for further studies, as having a PHD degree is considered to be the highest academic qualification.
Check: PHD in Management course
MBA Business Law FAQs
Ques. What is the full form of an MBA?
Ques. What is the time period of education in MBA?
Ques. How much salary can one expect?
Ques. Can anyone apply for this course?
Ques. How to get admitted to a college offering MBA studies?
Ques. What are the fees for this curriculum?
Ques. Why should one pursue an MBA?
Ques. What are the top recruiting jobs for an MBA candidate?
Ques. What are the best colleges to get an MBA in India?
Ques. What are some top recruiting companies that offer jobs after MBA?
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