When should you consider MBA in India?
There are multiple reasons why you should decide to pursue an MBA and you should thoroughly analyze if it is the way forward for you.
Better pay scale: You are in a profile & company where your hard work doesn’t yield a satisfactory salary. MBA colleges allow you to jump on to some of the well-paying jobs and have a great lifestyle
Change in career profile: You are enthusiastic about opportunities you can get post-MBA. These include consulting, marketing, sales, finance, operations, general management & startups. While the opportunities exist, you need to thoroughly analyse what kind of profiles you would like to get into post-MBA. Students often make this uninformed decision and end up in another job they dislike. Also, various other upskilling options are available to make a career shift, including opportunities in your own company. You must research all the options before making a final decision.
Promotion to a management position: You are stuck in your career for a while and need to move up the ladder within your company or industry. An MBA degree can help you break this ceiling and help land coveted leadership positions in various companies. While this is possible, please understand that achieving a leadership position takes some time, even after an MBA. And there are ways to climb the ladder by taking up other upskilling opportunities.
Own startup: MBA gives you the necessary tools to become an efficient employee in the managerial field. You will go through the basics of marketing, sales, operation, and finance and quickly build up your knowledge and skill set. While these tools and skills become handy for creating your startup, it costs you two years’ academic fee and two years’ salary (opportunity cost). Also, MBA doesn’t guarantee that you will be able to get an idea automatically just because you have studied management subjects. Most MBA grads in India end up working a corporate job. Even the fast-paced curriculum at IIMs doesn’t give you a breather to work on your idea in parallel to your degree and placement rigour. So unless you are motivated and have buffer backup, starting up is a challenging task right after your MBA.
Though it’s a lucrative option, you must thoroughly research all the options and consider why you need an MBA. Also, you must be mentally prepared to slog your way to bail the CAT. Once you are sure of your goals and reasons for MBA, it will be a fulfilling journey. In addition to career progression, you will also experience the country’s best management professors, an elite peer group and a plethora of knowledge which will be helpful for life. Also, you should consider a long-term view of your career while making these decisions rather than short-term benefits.
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