To MBA or Not to MBA
Have you ever felt like you’re the only person in the room who doesn’t have a Management degree? Well, you’re not alone. Every year, many candidates drop their MBA plans because they lack proper guidance, are confused whether an MBA would do them any good, or are not sure about their Post-MBA goals. In addition, with an increasing number of people going for post-graduate degrees and a huge portion of the MBA’s, it can be intimidating to be surrounded by colleagues and society compelling you to go for an MBA.
Well, fear no more! In this article, we will discuss plenty of legitimate reasons to pursue an MBA or not, based on common reasons and intellect.
Now before we discuss all the right and wrong reasons to pursue an MBA, you must understand that there’s so much more to a person’s career than his degrees and educational background. Moreover, the most important thing is to get the timing right for pursuing an MBA. As time is relative, the importance of an MBA varies accordingly, just as an MBA degree won’t do you much good if you get enrolled into an MBA program right after your graduation with no work experience. However, at the same time, having work experience of 3-4 years would help you understand the fundamental essence of the management system.
Being in the consultancy business, we speak to many confused MBA applicants day in and day out. Below mentioned are some of the most common questions we get asked each time someone is confused:
1. Should I go for an MBA with 3 years of experience or should I wait?
2. I have 7 years of experience but the average for the B-school is 5, do you think I stand a chance?
3. Should I even go for an MBA and spend that kind of hard-earned money?
4. Is taking a loan for an MBA worth it? What kind of salary can I expect after graduating?
5. Will I get a job in the US, Canada or Europe, if I graduate from XYZ school with an MBA?
7. Should I go for a Master’s or an MBA?
8. Will an MBA make me switch my function, industry, and geography?
10. What do you think are my chances to make it through to the top MBA programs globally?
Well, if these are the questions that you are struggling with, firstly, we’ll ask you to STOP! SLOW DOWN!
Breathe in and breathe out, and then read on!
There’s no right or wrong reason to go for an MBA. And it’s absolutely okay to be confused and do not know whether an MBA is a right choice for you or not. Our content gathering phase, which encapsulates a thoroughly defined process, is precisely designed to help you find answers to these confusing questions and guide your way to the top MBA programs globally.
But before that let’s find out if MBA is the right thing for you or not! You can schedule a 1:1 session with us to make the right decision.
In this article, we will examine several factors in deciding the pros and cons of getting a Management degree and offer insight to help you determine whether or not an advanced business degree is right for you.
UNDERSTANDING THE MBA CURRICULUM:
MBA programs are designed to equip students to become successful leaders, managers, problem-solvers, and entrepreneurs. MBA curriculum nurtures individuals to play a pivotal role in decision-making at top organizations. Most MBA programs touch upon the core subjects such as accounting, statistics, economics, communications, management, human resources, and entrepreneurship; and later allow students to specialize in their subject of choice.
WHAT ARE SOME OF THE RIGHT REASONS TO GO FOR AN MBA?
To enhance your skills as a leader or a manager
To become a key decision-maker at an organisation
To make a switch in your career or geography
To expedite your career growth
To learn how to scale or grow a business
To solve real-world problems with business
To expand your professional network
WHAT ARE SOME OF THE WRONG REASONS TO PURSUE AN MBA?
To beat the monotony of your current job or situation (boredom)
To think of MBA as a transformer that will change everything for you
To start your career from scratch after an MBA
There’s a reason why MBA necessitates prior work experience, and there’s a reason why you see average work experience fall in a certain range for most business schools. Having said that, there are always going to be outliers in a class. Business schools expect you to have a well-proven track record and a very clear vision of how an MBA will pave your way for the next step in life. This clarity may dawn on you as an epiphany with two years or ten years of work experience. The clarity of thought defines your readiness for an MBA.
IF INTERESTED IN PURSUING MBA, WHAT ARE THE MBA REQUIREMENTS?
Great! Now that you have decided to pursue an MBA let us look at some basic requirements needed to pursue an MBA from a top-ranked University. Before we discuss, there is one thing you need to understand that there is no rigid boundary of things or skills that the colleges look for while reviewing an application. Skills, talents as well as work experience all count equally while considering the application. Keeping that in mind, let us look at the below-mentioned points.
1. Academic Profile
A good GMAT score of around 700+ and a good GRE score ensure that you get selected in the top MBA programs around the world.
High cumulative GPA
A UG degree from a college or school with an excellent academic reputation
2. Career Progress
Strong evidence of career progress trajectory along with career achievement.
Excellent references or LORs
Academic brilliance in quantitative or business-oriented courses as well as managerial potential.
3. Leadership skills
Leadership examples at work and self-awareness of leadership capabilities.
4. Career Goals
Properly defined career goals with a sense of purpose: passion, meaning, and significance.
Convincing motivations and reasons for pursuing an MBA along with the proper relationship between prior skills and experiences and post-MBA career goals.
IS AN MBA WORTH IT IN 2021?
Pursuing an MBA graduate degree requires quite a significant investment of both time and money. So, it’s crucial to understand whether an MBA is still worth investing in a post-pandemic world? While there could be more than enough factors to weigh, pursuing an MBA is a life-altering decision leading to significant consequences for your career opportunities, finances, and future aspirations.
So how do you decide whether to do an MBA or not?
Go through the article once, and ask yourself why I want an MBA degree? What are my post-MBA goals? Which MBA program should I choose? The article would offer insight into determining whether or not an advanced business degree is right for you. Then, once you get your goals right, go for it! An MBA builds a solid foundation in business management, economics, communication, and entrepreneurship.
There’s no right or wrong reason to go for an MBA. And it’s absolutely okay to be confused and do not know whether an MBA is a suitable choice for you or not. Our content gathering phase, which encapsulates a thoroughly defined process, is precisely designed to help you find answers to these confusing questions and guide your way to the top MBA programs globally.
But before that, let’s find out if MBA is the right thing for you or not! Then, you can Schedule a 1:1 session with us to make the right decision.
Frequently Asked Questions
Is MBA losing its value?
MBA is one of the most popular options and comprises the most considerable portion of the postgraduate pie. Every year, more and more candidates enroll themselves in an MBA program. This is because an MBA qualification builds a good foundation for many standard career options. But then again, an MBA will only serve you well when you get your reasons right and post-MBA target constant.
Should I do an MBA in 2021?
Before pursuing an MBA, it’s essential to understand the MBA Curriculum, its requirements, and advantages. MBA programs are designed to equip students to become successful leaders, managers, problem-solvers, and entrepreneurs. MBA curriculum nurtures individuals upon the core subjects such as accounting, statistics, economics, communications, management, human resources, and entrepreneurship. If anyone wishes to enhance their skills in this field, they should definitely go for an MBA.
Are MBAs worth it?
Well, the question you must ask is, is it worth it for you? Every year, an increasing number of people are going for post-graduate degrees, and MBAs constitute the most prevalent portion.