We live in an era where everyone — from fresh graduates to those with some years of work experience — wants to get an MBA! Most of the time, people make this decision without really knowing the purpose behind an MBA or how an MBA helps them. Perhaps the biggest blunder most MBA aspirants commit is to prepare for MBA admission without answering the question— Why MBA?
‘Why MBA’ may be one of the shortest question in the professional world, but it is one of the most important question. You will be making several decisions and sacrifices on professional and personal fronts to get the MBA tag. You know that it will be a life-changing experience for you!
Most people think that an MBA is just a trend. Do you wonder why it might be more than that? Imagine you live in Spain but you don’t speak Spanish. Let’s say this is similar to you wanting to succeed in business without knowing any of the business principles or skills required. Can you survive in Spain without the language? Sure, you can! Will it be full of mistakes and risks? Most definitely! The bottom line is that if you want to succeed in your business, you need to learn the business principles. Simple?
Let us give you 10 quick reasons to understand the importance of MBA and perhaps answer to the question — Why MBA:
1. Personality Development:
Personality development is most important advantage of pursuing MBA. Not just subjective knowledge and practical learning, the development of soft skills in an individual is also a necessity. MBA helps an individual develop his personality by sharpening their thought process, fine tuning the communication and strengthening logical ability. Pursuing MBA will help you improve your personal relationships and make you more presentable in front of peers as well as colleagues. From discussions to debates and interviews, MBA helps you achieve the communication and personality standards which otherwise would have taken a lot of time and efforts.
2. Top Hierarchy is MBA:
The corporate culture is changing. There was a time when the Chief Financial Officer used to get the top boss job. If it was a manufacturing company, then the production head due to his technical expertise used to get the coveted position of the CEO. But today, the trend is to put the MBA manager in the top slot because of their ability of bird’s eye view. Due to this noticeable view, they are entrusted with the role of steering the ship in the right direction.
3. Entrepreneur Abilities:
There is many a scene in the current era of digital start-ups, who are fired up with the zeal of setting up their organizations. This becomes much easy if there are experience and background in working in the corporate sector. Additionally, an MBA degree helps in acquiring the technical and theoretical knowledge of subjects like Marketing, Human Resources, Operations, Project management, and channel management.
4. Subject Specialization:
As the economy of any nation expands, more and more sectors are added to it. The growth of a particular sector is a inference to the expansion of another sector. An MBA course imparts skills as per the contemporary needs. It specializes in subjects like – Marketing, Finance, HR, Operations & Systems Management, Forensics & Corporate Fraud, Business Analytics etc. This creates specialized management professionals who are employed for the specific verticals.
5. Constant Networking:
An entry into the MBA program gives the opportunity to be networked. Every MBA college has industry professionals, recruiters, top-notch managers, subject speakers, and new joiners in the corporate sector, etc. The Alumni of majority MBA schools are highly active cells. It is a source of guidance to old and new students.
6. More Job Opportunities:
More openings are available for MBA candidates than for the non-MBAs. It is very common to see the words – MBA preferred, in the job description. This is the norm even in the smaller companies.
7. New Career Paths:
Another huge advantage of pursuing MBA is that it lets you change career paths easily, without raising a question on your skills and expertise. For example if you are a finance consultant in a firm, you can switch to Data Science, Business Analytics or International Business after having done your MBA in the specialization you want. Completing your MBA in the specialization of your choice opens doors to new career opportunities and makes the career transition smoother.
After having given years to a company and feeling the burn-out, many individuals leave their job, only to find themselves doing the same work all over again for another employer. The well-deserved break to assess and change the career path just never arrives unless you choose to take the same and use your MBA degree to change career paths. From software engineering to management and from financial advisers to investment bankers – these are all possible because of MBA.
8. Higher Salaries:
Talent and capabilities are always rewarded in the corporate sector, but the trend has shown that MBA’s claim a higher pay package with an average of INR 18 – 24 lakhs across top B-school placements during 2019. And this trend has not just for 1 year but over the years it has been observed that MBA students get a higher salary.
9. Knowledge Building:
The MBA curriculum is so designed that it creates an insatiable appetite for knowledge. Campus placements are for the best students. Nobody would like to miss out on that. Upgrading knowledge on real-time facts, economic and political, becomes the need of the hour.
One of the best reasons why you should pursue MBA is that it helps you boost your confidence. The feeling of having accomplished and completed a business post-graduation programme can instil a sense of confidence which is critical to corporate success. In the corporate world today, companies require managers or management trainees who are not only confident and can take the initiative, but are team players as well, who can boost the team morale for better productivity. With an MBA degree in hand and work-social life balanced well, you will definitely gain a sense of achievement which would in turn boost your confidence for good.
So now before you apply to MBA, analyse why exactly you wish to pursue an MBA. Knowing why you want an MBA plays a critical part in helping you choose the right MBA program for you. At the end of the day, it’s all about your passion, your career, and your long-term goals.
- So take your time and think about how an MBA can benefit you.
- Then take a call on whether it is worth pursuing.
- Once you make up your mind, you will need to decide whether to get an MBA in India or abroad.
- Then decide whether to take the CAT, GMAT or the GRE.
We hope this article has made a positive difference to your MBA plans!
Author: Vibhanshu Thakur
Also Read: MBA Admission process