Do you know around more than three lakhs of students do MBA in India every year? With the introduction of the New Economic Reform in 1991, Liberalization, Globalisation, and Privatisation increased the demand for a skilled workforce. It increases the demand for pursuing management degrees and aids India to become the second largest pool of MBAs in the world. Well, if you too are planning to do an MBA but getting confused about whether it is meant for you or not? Whether the MBA degree is the right career option for you or not. Then no worries, all your questions are answered in this blog. Let’s know how MBA can be a good option for you to have a successful career.
Not all individuals afford to pay expensive fees to pursue an MBA degree. The way business is changing is due to technology and automation. The effect of startups and the rise of anti-corporate culture have made the MBA less of a passport to success and less of a prerequisite for development.
Don’t get us wrong; earning an MBA still has a tonne of value. Many MBA schools have refocused on contemporary and developing topics like data analytics and healthcare administration. But you need to be extremely explicit about the benefits it offers. You should pick the best institution and the best moment in your career to enroll in a program if you want your MBA to be as helpful as possible.
But here you might be thinking about how to decide whether an MBA is a good option for your career or not. We have compiled a list for you. There are several universities and b-schools that offer the best career opportunities after investing your money to pursue MBA. the following are the reasons why MBA is good for a career:
MBA is a program that offers immense knowledge of different subjects and aids in understanding management in-depth. You will receive updates on the business environment, market concepts, and specially focused themes that will prepare you for the workplace.
You have an option to choose the specialization as per your interest. Are you still getting confused? The following is the list of the subjects you can choose:
- Human Resource: HR is a degree that manages in charge of HR teams or deals with sizable employee populations. It focuses on resolving disputes, team building, inspiration, outlining duties, and other things.
- Entrepreneurship: if you have good and original thinking skills in starting a startup then this is the best go-to option.
- Operations Management: It aids you to learn how to manage and run the production effectively. This is mainly for the managers whose responsibility is to optimize the production process.
- IT Management: MBA is a degree that allows managing the IT sectors too. This area of the company strongly depends on the evaluation of gathered data and the creation of products based on it.
- Strategic Management: A degree in strategic management will prepare you for long-term company planning and contingency planning.
- Finance: Bankers, financial controllers, chief financial officers, and finance managers should consider this MBA. Courses cover topics including accounting, data analysis, statistics, and more.
- Marketing: A degree in marketing focuses on companies that rely on advertising their goods and services.
Others such as Consulting, International Business, Management, etc.
Management degrees allows you to hold the highest position and earn a handsome salary. In India, the average starting income of an MBA is 5-8 LPA The following is the list of the job title which help you earn the goods:
- Financial Analyst
- Marketing Manager
- General Manager
- Cost Accounting Analyst
- Production Manager
- Brand Manager
- Project Manager
- Sales Manager
Pursuing MBA helps you to gain transferable skills, such as motivation and leadership qualities, decision making, strategic and system skills, innovation and strategy, interpersonal skills, and much more. All these skills help to acquire a good position and job role in the industries.
Examine your motivations for pursuing the degree to ensure that you are prepared to commit to an MBA degree and that you select the appropriate area of focus before responding to this question. Common justifications for thinking about earning an MBA degree include:
If you want to earn a high salary then MBA is a good option as it helps you to earn well. With the experience and outstanding work, it allows earning more than lakhs every month.
If you think that MBA is the way which helps you to start your entrepreneurial venture. As the degree allows you to build good relationships and networks. It collectively permits you to explore new business ideas and start your venture with the help of your classmates and friends. Always question yourself about which skills you are going to learn while pursuing the degree. Do check alternative which helps you gain skills to set up your own business.
Do check on the questions before deciding to pursue an MBA:
- Which industries do I now work in, and which would I aspire to work in in the future?
- Do these industries require an MBA?
- What do the sectors that interest me think about the MBA programs I wish to attend?
- Are there any other possibilities that could help me succeed in the fields I’m thinking of pursuing as a career?
Ultimately, it has been seen that doing an MBA is worth it as it offers youngsters correct career guidance and allows them to start their careers in the world of corporates and business. The MBA degree is unquestionably highly important for business owners, executives, and visionaries. Most people would concur that education is nearly always a wise investment, whether you’re beginning from scratch, finding out how to acquire a job, or optimising your years of work experience.