Impact of social media is ever increasing. Students in particular are seen to be highly active on social media. Educational institutions have started to offer specialized social media management courses. In this paper we studied the role of social media from the view point of students of business management. Master’s in Business Administration (MBA) and Post Graduate Diploma in Business Management (PGDBM) are popular business management courses in India. Large number of students are pursuing these and other management courses. It would be of interest to understand the role of social media in the personal and professional lives of management students. 100 management students were surveyed to explore this aspect. Findings suggest that social media has a significant role in both personal and professional lives of the management students. At the same time they are required to exercise some restraint while using social media to safeguard from the negative effects.