MBA is one of India’s most popular management degrees. According to a survey by the All India Council for Technical Education (AICTE), the number of MBA students in India accounted for around four lakhs. MBA is the most expected step taken by undergraduate students towards career growth and development. There are many uses and benefits of doing an MBA. This article will help you understand the advantages of an MBA, the use of an MBA and the benefits of an MBA.
Top MBA Advantages
There are many MBA uses and reasons to pursue this degree. These reasons may differ from person to person, but we have got you covered and discuss all the benefits to do an MBA in 2021!
1. Helps increase self-confidence:
Once a student passes from an undergraduate college, he still lacks the self-confidence to work in a corporate or start a career. According to a survey, one of the significant benefits of an MBA degree is the self-confidence you get in terms of accomplishment, education and skill set earned.
The credibility of your skills and education is essential in any corporate job. MBA acts as proof of your skills and education which helps you earn respect in the corporate world. The credibility of an MBA allows you to push your limits and show your hidden talents. MBA is the best evidence of your educational credentials.
3. Better job opportunities:
Many top jobs in some of the best companies around the world have a prerequisite of completing an MBA. So, doing an MBA opens a pool of job opportunities for you in different fields. Better job opportunities are one of the significant benefits of an MBA in finance, as many financial jobs need MBA graduates.
In any field, an MBA graduate is usually paid higher than an undergraduate candidate. Therefore, financial development is an essential benefit of completing an MBA. MBA candidates have a higher chance of increased income and better career development.
5. Better network:
When entering an MBA program, you not only learn new skills but also get to meet new people, experienced faculty and successful alumni of the college. This increased network circle allows you to meet future business people and CEOs, thus opening doors to future promising job opportunities.
6. Greater job security:
In today's dynamic job environment, job security is everyone's primary concern. Among the benefits of doing an MBA, greater job security helps you earn internal peace and a sense of security. Even if you leave your job, an MBA still allows you to get a new job quickly.
Why Should I Do an MBA?
The main reasons why people do an MBA and not other management degrees are:
- It helps in career development and even helps in achieving higher leadership roles in the corporate world.
- It helps in building a network of future leaders and business people.
- It allows you to stand out among a large group of people and employees.
Which MBA offers the best salary packages?
MBA programs are available in many fields, and every program leads to better career development and higher packages. But there are few, which are in a lot in demand because of higher salaries:
- Financial services
Out of these, an MBA in finance is always in high demand among students. Significant benefits of an MBA in finance are that there are many opportunities in this field, salary packages are high, and you can quickly start a financial consultancy after this.
Why choose an MBA Even Later In Your Career?
MBA allows you to specialise in any field you are interested in like finance, consultancy, business management, entrepreneurship, etc. Choosing an MBA enables you to learn essential skills to start and grow your business from scratch. A lot of MBAs turn into entrepreneurs after learning the necessary skills from this program. MBA even allows you to connect with like-minded people and find co-founders for your business if needed. MBA even helps in your career advancement and growth through specialised learnings. Have you ever wondered what skills does an MBA give you?
- Communication skills
- Negotiation skills
- Leadership skills
- Research skills
- Problem-solving attitude
- Time management skills
- Pressure handling techniques
Disadvantages of MBA
We have stated many reasons to do an MBA and why an MBA is important, but in some cases doing an MBA might not be the best choice. Following are the few reasons why not to do an MBA:
- Uncertain return: There is no assurance of a job after completing an MBA. So, the fees you pay at an MBA college might go in vain if you do not get a placement.
- Outdated syllabus: Syllabus in many MBA colleges is outdated, which lacks interactive curriculum and industry consultation. The syllabus for MBA needs to get updated, keeping in mind newer ways of doing business.
- High cost: An MBA program costs a lot which might not be affordable for a middle-class family. It is better to gain some practical experience and accumulate funds to sponsor your MBA to overcome the high-cost problem.
- Lack of practical experience: Many MBA colleges depend upon theoretical knowledge for growth and ignore the importance of practical experience. The major disadvantage of doing an MBA is ignorance of internship opportunities and practical experience in some colleges.
The Burning Question : Whether to pursue MBA or not?
It entirely depends on your future goals. An essential use of an MBA is that it allows you to learn crucial decision-making skills and other critical theoretical concepts to work in a corporate environment. This is the primary reason why people do MBA. It acts as a certificate for your training and decision-making skills. If you are looking forward to starting your business, then the practical experience will teach you essential entrepreneurial skills to grow your venture.
From everything, it is evident that an MBA is a significant degree to learn necessary corporate skills. The article clearly stated the reasons why to choose an MBA and why to get an MBA degree. It talks about both the advantages of doing an MBA and the disadvantages of an MBA. The decision to pursue an MBA degree should be taken keeping in mind both MBA benefits and drawbacks. Sunstone tries to overcome all the disadvantages of an MBA by providing an interactive curriculum, pay after placement concept, industry consulted teachings and practical opportunities through internships and research projects.
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