“Why MBA at all?”
I asked this question to one of my friends 4 years back then when he had just finished his MBA?
He had spent a lot of money for pursuing an MBA from one of the top B-Schools in India.\
I thought MBA was overrated.
I have known a lot of my friends pursue MBA without even being aware of how it would help them.
Though my friend gave me the reasons back then, I wasn’t much convinced until I saw the proof myself.Fast forward 4 years, he is earning handsome money being a part of a middle management position in a reputed company while I was still stuck in my IT job.I had been trying to change my job since 2 years as I wanted to switch to a marketing role. After desperate searching, I was only offered an entry level marketing role with a meager increase in my current salary.
TOP 10 MBA Course Specializations List:
- MBA in Finance
- MBA in Marketing
- MBA in Human Recourse (HR)
- MBA in International Business (IB)
- MBA in Operation Management
- MBA in Information Technology (IT)
- MBA in Supply Chain Management
- MBA in Rural Management
- MBA in Agri Business Management
- MBA in Health Care Management
I have got my answers. Let me share them with you.
- Progressive Career growth
An MBA tag is not a hype at all.
It is extremely versatile and valuable and will allow you to choose your career depending on your career aspirations, skills, and interests.
Initially, your professional career begins with an operational role. And if you are smart and result oriented, you will be working in top or middle-level positions in reputed companies sooner than any other graduate streams. About 88% hiring professionals choose an MBA graduate over others as in 2016.
There are possibilities that you will end up starting your own company (It happens in most of the cases).
The prospective jobs for an MBA graduate are as Management consultants, Marketing managers, Operations managers, Investment bankers, Financial advisors etc.
Recently, big data has also become a part of their curriculum, so you could get a job in top reputed companies recruiting data scientists.
Though you have poured in a lot of money into admission in a good business school, it’s all worth it. All the money you spent in top schools is compensated by earning you a job in high profile companies. Subsequently, the costs are covered.
Let us examine the approximate salary structure of few of the common MBA jobs:
Initial salary could be between $100,000 and $140,000 annually
For senior-level positions (10+ years experience), the salary could rise to $1,000,000 annually.
With experience, it is not uncommon for investment bankers to earn over $200,000 per year.
Operations managers can make approx $97,000 annually at the median level. More experienced managers can expect up to $187,000 per year.
MBA teaches students the art of leadership, managerial skills and builds in them a burning desire to become rich and successful.
Because unlike other courses, you don’t learn specific coding skills like Java or c++.In fact, you learn skills that turn you into a leader. You learn an attitude and you become fuelled with a passion to make the most of yourself. As you can see, A lot of MBA graduates becomes an entrepreneur or a Consultant. As they learn practical managerial skills in B-schools, they gain thought leadership in the space where the others are still putting efforts to rise.
The pedagogical methods used in top schools are very innovative and effective. These include case studies, presentations, projects, research papers, etc.
In a typical two-year MBA program, you will have the core curriculum consisting of marketing, accounting, economics, finance, management, organization behavior, statistics, in the first year itself. The subjects taught in B-schools lays the foundation of your understanding of business.It prepares you with a 360-degree view of how to run a company and manage people, which helps you in entrepreneurship or management positions.
- Career shift
We live in an environment when students rush to make career decisions while they are studying. They learn their true passion only when they start their career. And by that time, it will be too late. You will need to either compromise on your salary or your passion. In such cases, An MBA really helps.
Types of MBA Courses
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An MBA gives you a second chance in life to do what you always wanted to do. It gives you the independence of a student’s life as well as the perspective of working for many years.
Did you connect with any of the reasons to pursue an MBA degree? If you are really passionate about an MBA degree, plan it out, take a systemic approach and chase your dreams.
All the best!!