After successfully completing the graduation every student will get confused to deciding whether is it good to go with MBA or not? So, It is important to know how the MBA degree is beneficial to building a great career in your life. Is an MBA degree worth it? Let us see the advantages and disadvantages of doing an MBA degree.
Studying MBA is definitely worth building the best career in your life. It helps you to improve many skills that benefit a company which you owned or work for. Benefits of having an MBA degree such as getting a high MBA salary after graduation, landing a management position, developing a strong professional network, or even one can own their business.
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Let us see some top reasons to do an MBA with their advantages and disadvantages.
Contents
- 1 What can you do with an MBA ?
- 1.1 Develop modern management skills
- 1.2 Multiple Pathways To Achieve Goals
- 1.3 Great Networking Opportunities
- 1.4 Return On Investment (ROI)
- 1.5 Start your own company
- 1.6 Opportunity Of Change In Career
- 1.7 International business career
- 1.8 MBA Is not difficult but challenging
- 1.9 Online or Part-time MBA
- 1.10 No age limit
- 2 MBA Advantages and Disadvantages
What can you do with an MBA ?
When it comes to MBA admissions most of the applicants are young businesspeople with diverse educational backgrounds and also with a minimum of one year of work experience in various professions. In some cases, even senior working professionals will also apply to pursue MBA. By this one can understand how the MBA degree is worth doing it. Below are some of the top reasons to pursue an MBA in detail.
Develop modern management skills
The MBA degree is deliberately designed to improve the management skills of students that helps to make the standard success for a company or a business. There are many pathways in the Master of Business Administration degree including General management, International Business, Human resource management, Marketing Management, Finance, Consulting, IT and also Entrepreneurship. Depending upon the chosen programme the curriculum will be changed and its influence in improving diverse skills for the students.
Here are some of the most common skills you’ll develop depending on the study programme that you choose.
- Improve leadership skills.
- Business Development, Marketing, sell your products and services
- Manage difficult situations such as financial crises.
- Keep the company’s finances healthy
- Promote and maintain the company’s reputation.
- Data Analyzing of the company data
- The ability to hire talent and improve employee retention
- Create hierarchies that help the company’s success
- Make big decisions at the right time
Multiple Pathways To Achieve Goals
As the MBA got this hugely popular, many universities and business schools have come up with various Master of Business Administration programmes with different curricula that improve the skills that the particular student needs to achieve their goals in management careers. Here are some of the most common programmes that are available for MBA aspirants.
- General Business Management
- International Business Management
- Human Resource Management
- Marketing
- Finance
- Consulting
- Information Technology
- Entrepreneurship
Also, some of the other management programmes like PGP, PGDM, ABM, Fellowships programs, etc, are offered by the top MBA colleges.
Great Networking Opportunities
There will be many chances to interact with the most professional persons while pursuing the MBA including fellow students, business people, professors and the faculty who have a great experience in business management. It’s about consciously and gradually building an extensive alumni network while being part of that particular MBA programme. And this context will expand your business management capabilities.
Return On Investment (ROI)
When it comes to the jobs after doing an MBA degree the salaries are higher compared to the jobs that are given with regular degrees. Also, the tuition fee structure differs among various MBA colleges in India. There are some of the top MBA colleges like FMS Delhi which offer the flagship MBA program with a fee of around 2 lakhs and the placements (Average Package/salary) as per the latest placement report is INR 32.4 Lakh Per Anum. Similarly, many top MBA colleges are there in India such as JBIMS, DBE, etc, which are very beneficial in terms of ROI.
Start your own company
Becoming an entrepreneur is a long term goal for many MBA aspirants. Mostly the students are pursuing MBA for the reason to start their own business and find the various paths to grow their business. They have a big dream and want to know how to turn it into reality.
Starting a business is not a simple thing, there will be many hurdles, traps and also risks. One can get aware of those things only from the experienced business people. While studying MBA one can find many business professionals, professors and faculty who have the best experience in business administration.
There will be more chances to find your partners while pursuing MBA. The people who have similar interests in your goals, you can interact with them, share ideas and can plan to start your own startup company.
Opportunity Of Change In Career
As the MBA provides various programs which develop different skills for the aspirants, there will be many chances to change the industry or the stream that you are working in. For suppose if you are working in a designation which does not satisfy your dream. There will be more opportunities to go forward with your desired industry and improve the skill that you exactly needed.
International business career
If you have an MBA degree in outer nations, you will gain a new perspective on how businesses are handled and get to live in a foreign country during your studies. You can find the companies that you want to work for and can have the opportunities to interact with the employers. There will be more chances to get your job in the respective country itself.
MBA Is not difficult but challenging
Many of the students have a common question “Is MBA difficult for an average student?”. Actually, it is not so difficult but it is challenging. When you complete your first year of MBA then there will be a chance to make an internship which drives you into the professional workplace and gives you real-time experience in your skills. In that instance, your will attitude will change according to the environment of your workplace and definitely get motivated which makes you feel challenged instead felt of difficult.
Online or Part-time MBA
There will be a chance of pursuing your MBA Part-time and also in some cases online. Mostly this is more advantageous for the students who are doing part-time jobs.
No age limit
People have the age of 40 can also be eligible to apply for MBA. There is no age limit for MBA. The good news is that business schools do not consider age as an essential factor in the admission process. An important criterion is the full-time job experience, and older students have plenty of that because they’ve been on the job market for a long. Usually, the main reason why there aren’t more MBA students in their 30s and 40s is not the age restriction from universities, but that not many of them are applying.
MBA Advantages and Disadvantages
Advantages of doing an MBA
- Increased job opportunities
- Personal and entrepreneurial skill development
- Specialized in the field of interest with management skills
- High salary
- Career up-gradation
Disadvantages of doing an MBA
- Cost of study
- Time commitment
- Lack of practical and applied learning
- Risk of ROI
- Lack of work experience
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