Still confused whether to go for MBA or not? Here are 5 reasons why you should.
- Career growth: Let’s illustrate with the help of an example:
|Has all the practical knowledge that he gained through his experience.||Has all the theoretical knowledge as he is a graduate.|
|Has working experience in a very restricted field||Doesn’t have any work experience|
|Has idea about only specific domain||Has generic idea about all the working domain|
|Is generally paid less||Is generally paid more|
The reason why an engineer is paid more is because he has the generic knowledge about all the aspect that mechanical engineering covers plus any day theoretical knowledge is superior to practical knowledge. That is why the growth, the salary, the career opportunities will be more for the engineer.
Similarly let us look at your case:
|You||An MBA graduate|
|You are escalating toward managerial role||He is specially trained for managerial role|
|You have learnt through experience and have practical knowledge.||He has learnt through the structured course and has theoretical knowledge.|
|You have managerial skill in a very restricted area||He has skills in most of the business related area.|
|Hence, You will be generally paid less||He will be generally paid more.|
You can easily figure out the reason with this analogy.
- Opens the door in any industry: Do you know that every established company have 5-6 common departments like marketing, finance, operations, human resources etc. ? MBA studies are all about that. You can go for general MBA or MBA specialization in any of these specific fields. Once done with you MBA, you are free to apply in any of the company existing.
- Flexibility to change the field: If you are saturated of working in the same field for 5-6 years, MBA is the way out. Let us say that you have been working in IT sector for 5 years and you are now completely bored. Once you are done with your MBA, you can switch to some other sector like manufacturing, FMCG, consultancy etc. Even after your MBA If you are bored working in manufacturing sector, you can anytime switch to other sectors.
- Reach top level management position: In India, one can work in a corporate for maximum of 40 years. Climbing up the hierarchy of 20-30 to reach the level like CEO, COO, and CFO is going to be very difficult within this span if you don’t have the broader picture of the business. That is why you will rarely see any one without an MBA ruling the company with these positions.
- Entrepreneurship: Most of the aspiring entrepreneurs have an idea to start the venture. But this idea is not a solution. It is a problem statement. The solution to this problem statement can be made only if you cover all the major and critical aspects of the venture. Even missing one can lead to complete failure. If you don’t have macro perspective of the business, there is high probability that your venture may fail. The only effective way to get the holistic exposure lies in MBA. That is why out of 100, 90 start ups fails in which 81 are established by a non MBA graduate.
In the above image you can put options like MBA, IAS, JOB, MS, ENTREPRENEURSHIP in the dialogue box to project the option one has after graduation
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