India Part-Time Professional MBA Market (FY 2017-FY 2023)

Market Overview:

The part-time professional MBA market in India has been witnessing growth & evolving to meet the needs of working professionals seeking advanced education while continuing their careers. This market has a Consolidated scenario with 80% of the market revenue covered by the top 2 players of the market.

Rising demand for part-time professional MBA market is driven by those individuals who wish to balance part-time options to balance work, family & education commitments. The market is witnessing participation from various industries including IT, finance, healthcare and manufacturing. The diversity on the participant pool adds value to the classroom experience, bringing different perspective & experiences. The Indian government has been supportive of initiatives to enhance education & skill development, contributing to the growth of part-time MBA programs.

India Part-Time Professional MBA market is a consolidated market with 2 players forming the major portion of the revenue. The market is expected to continue growing at an exponential rate. Some of these programs leveraged online learning components which make it easier for students to balance their personal & professional commitments.

India Part Time Professional MBA Market Analysis

• There has been an increase in the number of colleges imparting professional part-time MBA programs in India.
• Along with the no. of colleges, there has also been an increase in intent of people interesting in continuing higher executive education.
• The no. of enrollments in these courses increased from 78 in FY’17 and 445 in FY’23.
• Part-time Professional MBA programs also involves providing improved access to hybrid & mixed-delivery programs.
• 4 out of 5 programs experienced a dip in 2021 due to COVID-19 disruptions. However, the slight decline was offset by commencement of ISB PGP PRO at a new location i.e. Bengaluru, which ensured a stable growth in 2 years.

Key Trends by Market Segment:

By Mode of Delivery: In FY’23, the mode of delivery is segmented into offline & hybrid. Hybrid segment has dominated the market with ~80% of revenue contribution by hybrid programs from 3 institutes. This demand is driven by the blend of online & offline classes which allows the working professionals to balance their education with work. Some employers prefer or support employees as this helps employees to apply their learnings directly on the job, benefiting both the individual & employee.

By Geography: In FY’23, the market is segmented into Northern & southern regions. Southern regions have a clear edge in the part-time MBA programs and contributes up to 90% of revenue in the market. This is due to the dominance of industries like IT, finance & manufacturing which leads to an increasing demand of professional MBA courses. Government policies and initiatives which promote higher education and skill development also influences the popularity of part-time MBA programs.

By Program Duration:  In FY’23, the program duration segment is divided into 12 months, 18 months and 24 months. The program duration of 18 months is dominating the market as it contributes up to 67% of revenue share. 18 months strikes a balance between shorter duration, which might be seen as too rushed and a longer duration which is not be perceived as too time-consuming for working professionals.

Competitive Landscape:

Major Players in India Part Time Professional MBA Market

• In India, there are around 5 colleges that offer part-time professional MBA courses in the Northern & southern regions of the country.
• ISB contributes up to 66 percent of the market share due to its PGP PRO program.
• Other major players in the market based on revenue include IIMB, Masters’ Union School of Business, Mahindra School of Management and IIM Vishakhapatnam.
• The revenue share of ISB is higher than the rest, due to its higher fee structure. Otherwise, the enrollment share is higher for the remaining four programs.
• Most part-time MBA programs have a small batch size of less than 100 students with a median work experience of 10.7 years and 17% of the proportion dedicated to females.

Recent Developments:

• Nov 2023: IIM, Lucknow announces the commencement of an alternate two weekend MBA programme designed for working professionals: Post Graduate Program in Management for Working Executives, which aims to expose employees towards current business trends.
• March 2022: In collaboration with Frankfurt School of Finance & Management for two-year Executive MBA (EMBA), Mahindra University launched a hybrid programme for working professionals in India where candidates with 5 to 15 years of professional experience can apply in these programs.
• March 2022: The Indian Institute of Technology (IIT), Roorkee, accepts applications for Executive MBA, a 2-year course which can be completed in a 5-years’ time period which aims to prepare future leaders for high-end industries.