WHY IS IT IMPORTANT TO DO AN MBA?
10
12
MBA or Masters in Business Administration is one of the most popular courses pursed by students from many different streams. An MBA degree is very highly valued and has the potential of proving to be very lucrative to its holder. In the existing competitive job scenario, choosing a promising degree program is fundamental to ensure a satisfying career. An MBA degree is this promising degree program which is almost guaranteed to give a great boost to the student’s career. It ensures that upon the completion of the course, the students find employment among the top companies in the market. One of the most important requirements that Recruiting companies expect their employees to have is well-rounded managerial skills which will help in handling the diverse aspects of the company affairs. These skills are honed in the students during their MBA degree course, and therefore, candidates with an MBA degree are favored for a variety of job roles in many different industries.
Why is it important to do an MBA?
Doing an MBA degree course helps the candidate’s career in a number of ways. An MBA offers a wealth of advantages, especially when it has been done from a top business school with an excellent reputation. Some of these ways are mentioned below: Developing managerial skills: Young professionals who have a minimum of two years of work experience and sometimes even senior employees often take up the challenge of doing an MBA. This is often because after spending some time in the professional field, it becomes natural to conform to certain repetitiveness and avoid taking risks. An MBA degree with its various specializations helps teach these professionals how to get the best out of their company and thereby to make their career reach new heights. It helps them learn how to manufacture, advertise and sell their products; how to keep the funds of the company healthy; how to maintain a constructive image of the company; how to collect and construe industry data; how to hire the correct people to do the job and keep them motivated; how to make hierarchies that help the company prosper; and how to know when to make the hard-hitting calls. An MBA degree helps them get out of their comfort zone and deal with the latest issues in global business. It helps them apply the newest management techniques and teaches them to constantly challenge themselves. High Salaries MBA graduates are often guaranteed to receive a higher than average compensation package. The average salary for an MBA graduate is significantly higher compared to the salary of an employee who has a regular Masters degree qualification. MBA graduates often earn twice as much as one would expect to earn from a regular university degree. In India, if one does an MBA from one of the premier institutes of the country, then he can easily command a salary of around twenty lacs per annum. Even if the MBA is done a regular institute, the student can still command a salary of ten to five lakhs per annum. Different designations offer different salaries. This can be seen from the table below:
Networking Opportunities
MBA graduates get numerous opportunities to interact and communicate with business professionals during the duration of their study as well as during the course of their internships. They get to interact in a context that accentuates their business management capabilities with colleagues, professors and teaching staff who are usually former or current potent business people and have great management experience. MBA students also gain to the extensive alumni network of that particular MBA programme which gives them a great overview of the business world and a deeper understanding of the slightest changes in the business environment. It helps them reflect on some big business issues, make connections between various global events and world affairs.
Numerous Career Opportunities
MBA graduates often have more chances of getting and holding a high-level management position. Almost 50% of MBA graduates hold prestigious positions of senior managers or board directors. Some of the top companies that are constantly on the search for skilled MBA graduates include Deloitte, Ernst & Young, McKinsey, Boston Consulting Group, Apple, IBM, Procter and Gamble, and Amazon. While working for these companies, MBA graduates are paid high salaries but they also have to shoulder more responsibility and work longer hours.
Starting Up Their Own Company
An MBA degree equips its students to become entrepreneurs by teaching them how to run a successful business. They are taught how to dream big and to turn their ideas into reality. During an MBA degree course, they often acquire the knowledge and business practices needed to start a new business or to help an existing business develop and expand. As such, many MBA graduates end up starting their own business.
Varied Career Options
MBA graduates often enjoy better career options than people from streams of study. They can specialize in various fields like Finance, Marketing, Operations, Human Resource, International Business, and Information Technology. There are also numerous popular job roles available for MBA graduates such as Business Manager, Accounts Executive, Human Resource Specialist, and Public Relations Specialists.
International Exposure
Rewarding job placements across the world are often enjoyed by MBA graduates. Multinational and national companies are constantly searching for fresh and experienced MBAs and especially those who have an outstanding academic record. If the student chooses to pursue an MBA abroad, then he gains not only a new perspective on how businesses are handled but gets experience about living in a different country. This broadens the cultural and intellectual horizon of the student which in turn increases the business career prospects of the student as well. They can find companies that they want to work for, arrange meetings with potential employers and might even end up staying and working or build their own business in that country after completing their MBA degree course.
Increased Demand
The various case studies, business presentations, and other such curriculum which is a critical part of an MBA program help the student develop critical and analytical thinking abilities. These skills then facilitate the professionals in managing business issues and making decisions by understanding the critical side of all the aspects of the problem at hand. Hence, top recruiting companies often prefer to hire professionals from an MBA background as they are often equipped with excellent managerial and leadership skills. An MBA degree consequently, becomes a ticket to a promising career.
Self Growth
Most importantly, an MBA degree imparts to the student the confidence to be somebody who matters, and who is successful in their professional life. A reputed B-School program gives them the opportunity to think in their preferred direction. The entire classroom experience, interaction with faculty and peers, student activities, case studies radically changes the perspective of the student, both personally and professionally. Several MBA students ascertain a new person in themselves once they graduate from business school. An MBA degree often gives its holders a second chance in life to do what they have always wanted to do. It gives them the independence of a student’s life as well as the viewpoint of a professional who has been working for many years.
As such, we can see that the importance of doing an MBA is many and varied. An MBA degree helps in many ways and almost always gives the career a promising push. It is therefore, not surprising, that is the number one choice of many students, both in India and abroad.