Are you struggling to choose what you should be doing in the following couple of years for your career? Have you seen the charm of MBA Graduates yet do the ultra-high tuition fees puzzle you? Is it a good idea to go through all the schoolwork and exams again? Basically, do you have time and money worth spending on MBA expedition in India? The long answer depends on how much you value your career. What are your life goals, where you want to see yourself in next 10-15 years? And so on. Meanwhile, The short answer is Yes.
If you are anywhere near to build something those changes the lives of billions, like Facebook or Google, then please stop reading this, shut your browser and do something important which you are already doing it. You are not supposed to do an MBA, please close this page and go back to your product or invention. But for others who are still figuring out what should be done with their careers, then these are 5 big reasons you should consider pursuing an MBA a career option, degree, a source to re-start yourself or a boost to an existing job:
“Money hai to honey hai” that’s absolutely right if you think that you don’t believe in this phrase then trust me you are not matured enough to do an MBA. It’s all about money but it Let me warn you first, its nothing like you will become a millionaire overnight. Your salary will increase significantly after you get an “MBA Job”. There are various studies on websites like Glassdoor reports where you can find an estimate of your forthcoming salary in your preferred or dreamed organization. However, the MBA is costly having said that you need to understand and should look at the big picture and your future which lies ahead. If you are making 40K per month today and if you know you will earn 180K per month after your MBA what would you think? Let me answer that… With an average tuition and 2-years living expenses of 60K per month, you can pay the entire cost of MBA in less than 2 years just from your salary hike. Simple math… After you get break-even by the end of two years, you will probably upswing faster in your career and earn much quicker. Oh, don’t forget the old-style MBA sign-in bonuses and your MBA level annual bonuses (attention Investment bankers, you know what I am talking about).
With MBA, your visibility will surge along with your responsibilities. Since you will be networking with more high-ranking influential people, maybe with the CEO, your contributions will not only be evaluated by your immediate manager but also by executives. Especially if you find a sponsor within the company and get his or her support on various occasions, you might benefit going up in the career ladder sooner than you calculated. This is only internal. You have much more to gain from your external dealings i.e. Interactions with stakeholder and other company leaders. Maybe you end up being a Professional who advises C-Level executives. If this is the case you already associated with a CXO. Guess what happens when this CXO plans to hire a new Director to his new business unit? Or let’s say you end up being an Account Executive for a key client of yours. Talking to the customers directly, you will most likely know what is going on in your market before anybody else in your company including your boss. What will be the trending technologies or new processes or emerging companies in near future? You would have better insight before everybody else, well that’s not that bad as it sounds and you can plan your future accordingly and shift domains as per the market standards.
I believe this is the most important aspect of doing an MBA. No matter what job you are doing today, let it be a Software engineer, Developer, Tester, architect, computer scientist, a business analyst or an HR specialist, please think the last time you spent 1-hour in a room with an accountant, an athlete, a mechanical engineer, an army officer an author, and a singer? (Btw, these are all actual backgrounds from my MBA class). You are going to solve real Business problems by working with the very diverse set of talented people. But it is not only your classmates. You will have unlimited access to your school’s alumni database as well as many other alumni services, like continuous career help. Of course with a top-tiered school, these benefits multiply. In addition, you will also meet representatives from various companies like P&G, Nestle, Apple, McKinsey and Goldman Sachs… And the good thing is you don’t need to worry about any travel, as these companies come to your campus and give you free lunch with the only goal of recruiting you. You just need to go to eat their lunch and listen if that company is a good fit for you. If it sounds right, go talk to the presenter. If not, no worries, tomorrow another firm is coming with the same exact goal. Apart from this, you have various industry leader giving seminars on emerging topics and if your interaction with them is on the right note when you need not worry about the companies coming to hire you, you are already in touch with the leaders so what recruiters just need to complete the formalities. This network is not temporary but its stay with you as long as you have the capability to nurture them and give something back to them.
Developing Vision like a CEO or The BOSS
You probably know you will work on case studies describing challenging issues and how business leaders act in these type of situations. Going through these discussions again and again with others and participating local, national or even global case competitions, you will be prepared to decide strategically, execute effectively and most importantly develop vision motivationally. And trust me when I talk to my classmates today, I’m hearing repeatedly “My Project X is entitled to be an MBA Case Study” because whatever you are going to study will be the actual challenge you will encounter in your MBA Job. You will have a better vision regardless you want to be a CEO or not. Even if you plan on working on public sector or want to stay as a middle manager throughout your career, being a visionary, you will have more out-of-the-box opinions than others, no matter what you do.
Acquiring New Skills: To learn just Finance or Marketing, you should not do an MBA. Although these courses helped me as pre-MBA I had no idea what GAAP or DCF meant or what Positioning was, your main gain will be via soft skills like cross-functional team management, effective motivation, presentation perfection and task prioritization. When I signed up to run Red Bulls campaign, I knew it was more than just getting free drinks. We had 6 locations, which mean we have to manage all the 6 locations, but planning them with the rest of the team, organizing the university and mentoring 100s of volunteers were the priceless experience for me. The good thing is I have been using the skills I gained from Red Bulls (and similar other projects) directly in my post-MBA jobs as the requirements are unbelievably similar. Okay, maybe less beer drinking in corporate life…
Are you ready to change your life for good?