Why MBA? Explore 15 Benefits & Advantages to Pursue MBA

Before taking up an MBA program, Why MBA? What are the benefits of an MBA? are the fundamental questions that an aspirant should ask.

Before we begin answering the above questions,

What is MBA? The Master of Business Administration (MBA) is one of the most desired postgraduate study programs, nationwide and around the globe.

Upon completing MBA, graduates gain an in-depth understanding of management principles. At the same time, they will have developed excellent managerial skills that will equip them for any administrative position that they may encounter, as their career advances. Another benefit of an MBA in India is that it would enable you to intern for some of the world’s most prestigious companies, assisting you in landing your dream career.

In this article,

The increasing number of accreditations, which indicate the quality of management education, shows the rapid progress of management courses in B-Schools across India. An MBA degree opens doors to diverse career opportunities in finance, healthcare, supply chain, marketing, operations, business analytics, etc. It sharpens your strategic thinking, leadership abilities, and decision-making skills, and it pushes you to make more informed decisions, based on the knowledge you’ve acquired through your course. This entire article will take you through the highlights and importance of an MBA degree.

Why is MBA important?

Why MBA? What is the use of an MBA degree? These are the fundamental questions that a CAT aspirant should ask. This is because, in today’s performance-oriented professional world, most of the people around you also have the same qualities and credentials that you possess. So, at this point, it is crucial for you to ask – what unique traits do you have that will differentiate you from the herd?

The answer is – AN MBA DEGREE. An MBA from a top B-school will help you make a quick transition from a mid-level role to a senior management position, where you will have the opportunity to take strategic decisions. If you browse through the job descriptions of senior positions across industries, you can see that MBA is the preferred degree, though perhaps not mandatory. Consulting is one profession where an MBA is required to grow to an Associate or higher level. So, the lack of an MBA degree may not be a show-stopper, but it will be a considerable reason for career stagnation.

15 Benefits of doing an MBA:

  1. The Move Up Chart!
  2. Why MBA? It may be one of the shortest questions in the professional world, but it is also one of the most important. For one, you will be making numerous sacrifices on your professional and personal fronts to get the MBA tag. It will be a life-changing experience for you, possibly the most crucial decision in your life.

    If you seem satisfied with your job, you will look for a push-up. No one likes stagnation. Most of the people around you also have the same qualities and credentials. Get ahead in this performance-oriented professional world successfully, with an unequivocal qualification of an MBA degree.

  3. With an MBA, you get job-ready
  4. Getting an MBA degree is a wise way to shape your career. MBA graduates are generally sought after by employers because they possess managerial skills that are essential for a company. This will help you withstand any competitive environment, thereby broadening your career opportunities. The way a company looks at a potential employee completely changes if he has an MBA degree.

    Graduation in any field can only take you this far, as the higher you go in a company, the more responsibilities you’re given. The skills required to handle much higher level management can be only acquired through an MBA or a minimum of 10 years of experience in the same company. This is why an IIM graduate will easily earn much more as a starting salary than an employee with 10-12 years of experience.

  5. What happens when you land up in the top B schools?
  6. Get schooled with the best!

    However, the truth is that knowledge that will help you progress in your career will not be found only in books or on the internet.

    • Be with the best – Professors and Peers – this would mould you into the best.
    • Innovative and Effective methods of studying – these include case studies, presentations, projects, research papers, etc.
  7. Networking in the thick of the elite!
  8. Networking means getting to know people, and this in lower levels would be restricted only to your superiors, if you are stuck in the lower level management.

    Networking at business schools means that you will be carrying the same tag as thousands of alumni. Doing an MBA from a reputed B-school gives you an excellent opportunity to network with smart, talented people who will hold top strategic positions in major companies or be great business leaders someday.

  9. Get branded by the best!
  10. An MBA degree is undoubtedly a feather in your cap. But an MBA from an IIM is a more brightly coloured feather! You can feel this difference within India itself. All things being equal, there is a big difference if you do an MBA from a lesser-known B-school in your region and if you graduate from a top school such as IIMs.

  11. Discover a new you!
  12. A reputed B-school program transforms you and allows you to think in the direction you want. Many MBA students discover a new person in themselves once they graduate from business school.

  13. MBA will enable you to earn more money
  14. Unless you graduate from a top B-school in a meaningful specialisation, this is not true. If you lack the extra edge possessed by MBA aspirants, your dreams will not reap you well. MBA does mean more money but only if pursued with 110% dedication.

  15. MBA makes you more employable
  16. Adding to the number of graduate degrees you own does increase the value of your resume. Just imagine your profile reading out your MBA, but you lack the real skill. It is essential to do it but not only for its heck or to beautify your resume.

  17. You reap the benefits of your hard work once you earn your degree
  18. Earning an MBA is not easy. It requires dedication and perseverance. You will have to work hard for two years and sacrifice any semblance of social life. Your hard work will pay off, once you have earned your degree.

  19. You begin to embrace challenges that comes your way
  20. You start to enjoy and welcome challenges. As you progress through, you acquire the patience to deal with pressure, while staying calm and cool.

  21. You aspire to be an entrepreneur
  22. You do not need an MBA degree to be an entrepreneur. We suggest you invest in your idea instead. Reality check, top B-schools are expensive. Instead of struggling to pay off B-school loans and sacrificing your dreams, invest in them. You can always choose a part-time or executive MBA later, if necessary.

  23. Be a king of one in the era of Jack of all
  24. There will be many job opportunities that you might miss out on because of your MBA degree. At certain times, having a degree will portray you to be overqualified and put you on the weaker side of the scale.

    It is important to note that MBA is not a cakewalk. It takes your time, dedication and hard work to qualify and become a great entrepreneur and not just another degree holder. Perhaps MBA might not be your cup of tea, but if it is, don’t forget to seek the proper guidance for your preparations to get you the degree!

  25. Break your boundaries in the booming business world
  26. Gaining knowledge and putting it into practice creates a sense of accomplishment, which will boost your confidence as you navigate through this competitive professional world. In unprecedented times like these, you will confidently get through any professional situation by applying the knowledge and skills you’ve gained through the course.

  27. Build and boost your career credibility
  28. The credibility of your career will rise as you stand out from the crowd. This will increase even further as you are confident in your ability to think creatively and handle risks.

  29. Confidently get ahead in your analysis
  30. The MBA coursework includes case studies, which helps build analytical and critical thinking skills. These abilities aid professionals to refine their discernment in making confident decisions in the face of risk and uncertainty. It re-energises your ability to think out of the box, analysing numerous possibilities when solving an issue.

Major Highlights of an MBA Programme

Name of the Course

MBA (Master of Business Administration)

Duration

2 Years

Total Semesters

It may take four or six semesters, depending on the institution offering the course

Course Level

Post-Graduate

Shortlisting Process

  • Entrance Examination Score
  • Group Discussion
  • Personal Interview

Eligibility Criteria

  • Bachelor’s degree in any field or its equivalent from a recognised university
  • Majority of institutes have a minimum score requirement of 50%
  • Applicants must complete the entrance exam and meet the MBA cutoff requirements set by the management institute they desire to get into

Popular MBA Specialisations

Finance, Human Resource, Operations Management, Logistics and Supply Chain Management

Average Course Fee

Rs 2 lakh to Rs 30 lakhs

Popular MBA Entrance Exams in India

CAT, CMAT, MAT, XAT, SNAP, NMAT

Different Streams of MBA in India

Full-Time MBA, Executive MBA,One Year MBA,

Distance MBA, Online MBA, Part-time MBA.

Annual Salary

The average annual salary ranges between 2 lakh – 25 lakh

Advantages of doing an MBA

The advantages of an MBA go beyond the impact on your professional career. In addition to the managerial skills acquired through your MBA you will be able to see a tremendous change in your ability to think creatively, and come up with new solutions to challenges, professionally and within various facets of your life, including your personal goals and finances. You will have the opportunity to collaborate with a diverse group of people and establish a long-term network. Unlike specialist courses that focus on one niche, an MBA degree is multi-faceted and focuses on a diversified curriculum.

MBA Specialisations in India that are In-Demand:

  • MBA in Finance: Finance, among all the MBA specialisations, is the most desirable specialisation in MBA for various reasons. It gives you a thorough understanding and awareness of financial management and the financial markets to make informed decisions in the field.
  • MBA in Healthcare Management: With industry developments, regulatory standards and innovations, the healthcare industry has rapidly transformed. To deal with the current environment of modern healthcare, competent executives are needed. An MBA in health care management prepares students to pursue careers in healthcare coordination, hospital administration, and health care management.
  • MBA in International Business: Globalisation has resulted in a tremendous increase in global companies. A specialisation in international business is an excellent choice to develop skills and gain a thorough understanding of global economic trends, which will benefit you as you navigate through the global business world.
  • MBA in Human Resource Management: Businesses have always been on the search for people who have a comprehensive understanding of the principles of human resource management. An MBA in Human Resources will give you a profound experience of organisational behaviour, hiring and training, and human resource management. You will develop your managerial skills and your ability to adapt to changing environments.
  • MBA in Operations Management: An MBA in operations management offers students extensive training about orchestrating the smooth running of a company’s operations, delivering quality products and services on schedule. The students will learn how to manage resources to maximise the value of an organisation.
  • MBA in Marketing Management: In recent times, an MBA in Marketing has become a favoured degree by both graduates and organisations. One of the benefits of an MBA degree to a company is that it trains students to grasp the in-depth aspects of marketing management. Marketing fundamentals, Components of advertising, analysis of consumer behaviour, marketing strategies are all covered extensively by an MBA degree.

Frequently Asked Questions on why MBA?

How does an MBA help me in my career?

MBA graduates are more likely to hold top managerial positions in companies. Businesses prefer to hire MBA graduates because they are better positioned to work in a strategic thinking environment. It enhances your leadership skills, understanding of a business environment and enables you to operate efficiently in a global market. Getting an MBA opens up new doors and teaches you new skills, regardless of your previous experience. As a result, your chances of being hired by potential employers increases. The job comes with better pay but it also entails more responsibilities

Which is the best MBA specialisation?

Each of the specialisations is distinctive in its own manner. Your decision in choosing your specialisation, should be driven by your niche and passion. For example, when you choose human resource management, you might be interested in employee relations, project management, organisational behaviour, communicating with professionals, conflict resolution, and talent acquisition. Marketing management is an option if you’re versatile in communication, time management, creative thinking, and negotiating.

What is the eligibility criteria for pursuing MBA?

Admission to the MBA program requires that students have completed 3 years of graduation from a government recognised university, with a minimum CGPA of 50% or equivalent. 45% in the case of PWD candidates and candidates from reserved categories. MBA entrance exams are also open to candidates who are in their final year of graduation or awaiting results.

How much do MBA graduates make in India?

The average initial salary of MBA graduates ranges between INR 2 Lakh- 30 Lakh. Salary packages vary depending on the institutes candidates have graduated from.