In the words of Aristotle, “The roots of education are bitter, but the fruit is sweet’. Masters of Business Administration or MBA is one such bitter-sweet experience. Pursuing an MBA degree can be demanding and challenging. However, this process polishes one’s personality and offers an enjoyable and fulfilling experience.
In 1908, Harvard Business School launched the first MBA program. The first Indian Institute of Management was set up in Calcutta in 1961. The preliminary focus of all MBA programs was to raise a brand of professionals armed with the knowledge of:
- Human resource management
- Operations & other management-related skills.
Studying an MBA propels growth prospects. As we enter the era of smart machines and globalization, we are observing technology disruption. Design thinking, analytics, and big data are the new focal points. We are witnessing an evolution in the design and delivery of MBA courses. However, one thing that remains intact are its core benefits.
The 4 REAL benefits of an MBA degree are:
1. R – Return on Investment
Two crucial things that an MBA degree requires are – Time and Money. There are different types of MBA programs – Full-time, Part-Time and Executive MBA. Each requires anywhere between fifteen months to four years of your life. The MBA program fees are also reasonably high. With such investments, one expects good returns.
MBA promises returns in terms of:
- Handsome salary packages
- Holistic exposure
- Heightened business & technical knowledge
- Healthy platform to expand professional and personal networks.
2. E – Enhanced Employability
The demand for MBA graduates is on the rise. Top recruiters consider an MBA degree as a clear differentiator in the current market. MBA nurtures qualities such as:
- Complex problem-solving
- Critical thinking
- Decision making
- Negotiation skills
- Analytical mindset
- Collaborative learning orientation.
Reputed colleges like IIM, XLRI, MDI, SP Jain, TISS, etc. offer a brand name and trust factor.
MBA courses are designed keeping in mind the current industry demands. Management colleges offer specializations in areas such as business analytics, health care, big data, and digital marketing. These factors increase the employability of MBA graduates and provide job security.
3. A – Adaptability
MBA course, curriculum, and pedagogy emphasize on the overall development of MBA students. They get a chance to master the core concepts of business, accounting, statistics, finance, HR, etc. It also focuses on entrepreneurial skills, business ethics, and communication.
The master’s degree is a fine blend of soft and hard skills. This pushes MBA students out of the comfort zone. They become adaptable to new concepts and scale-up professionally. The transferrable skills give the confidence and insight to grab better career opportunities across verticals and horizontals in an organization.
4. L – Life-Changing Experience
MBA is one of the most coveted and sort-after postgraduate degrees. It not only gives you a platform to be technically sound but also grow holistically. The handsome packages and robust professional network are fruits of the sweet labour.
The time spent on a b-school campus is a life-changing experience:
- Interact with like-minded individuals
- Access to world-class libraries & faculty members
- Glocal exposure with rural and international immersion programs
- Rendezvous with industry and trade experts.
An MBA degree is an amalgamation of intelligence and character. It teaches you to think intensively and critically and reap benefits to lead a fulfilling life.
Frequently Asked Questions
FAQ1. What is the minimum eligibility for MBA courses in India?
Ans. The minimum eligibility for MBA courses in India is:
- Minimum 3-year bachelor’s degree.
- Minimum 50% marks or equivalent CGPA for General and OBC category students
- Minimum 45% marks or equivalent CGPA for SC, ST and PwD category students
FAQ2. Does MBA offer job security?
Ans. For a long time, earning an MBA was synonymous of getting a well-paying job. But times are changing now. With mushrooming of b-schools in India and newer concepts like AI, IoT etc. there has been fluctuations in the job market. However, there is still high demand in consulting, e-commerce and data analytics sectors. Banking, finance and IT/ITES will not get obsolete. Thus, MBA does offer job security.
FAQ3. What are the different types of MBA?
Ans. MBA can be full-time MBA, part time MBA or online MBA and executive MBA.
FAQ4. Is work experience mandatory for applying for a MBA program?
Ans. No, work experience is not mandatory for full-time MBA courses. However, it may give an advantage in terms of exposure to a candidate.
FAQ5. How does earning an MBA help student?
Ans. Master’s degree in business administration helps you take big leap in career path and achieve higher management positions. It provides better networking opportunities. It enhances your soft, hard and transferrable skills.
FAQ6. What are the top management bodies in India and abroad?
Ans. Some of the coveted management bodies are:
- All India Management Association, India
- Association of Indian Universities, India
- Graduate Management Admission Council, US
- Association of MBAs, UK
Stay informed, Stay ahead and stay inspired with MBA Rendezvous