Why MBA? Top 16 Reasons Why You Should Do an MBA
Why MBA? What will an MBA do for your career trajectory, money, etc.?
If you want to go into business – start your own business or manage another’s business enterprise — then an MBA stands you in good stead.
An MBA from a reputed business school is like a rocket propellant that can zoom you into a mental space where you can start your own business. It can also zoom you to a Chief Executive Officer (CEO) position over the span of a few years. The leading roles in corporate giants, and consequently, the largest pay packets, go to MBAs.
The corporate culture today is very different than before. There was a time when a Chief Financial Officer would head a company. In manufacturing, the Production Head, whose technical know-how was immense, would become CEO.
Now, globally, MBAs become CEOs because they have the tools and capability of having a holistic, macro view of where to take a business. They are trained to have an overall view of a company’s capabilities and shortcomings and think strategically to move ahead of the competition.
Top 16 Reasons Why You Should Do an MBA:
An MBA generally earns the double of an ‘ordinary’ postgraduate degree holder. If you compare the salaries of employees in an organization, you will find MBA graduates drawing much better salaries. MBA graduates, employed in the private sector or the public sector, have a yearly average take home of £ 70,000 – 120,000.
For most of the trustworthy MBA rankings, post-MBA ‘salary increase’ is one of the main metrics for judging a school’s quality.
Money makes the world go round no matter what anyone says. A fat pay check, perks, and fancy cars do dazzle the world and bring you respect. But this is a surface thing.
More important are the skills that an MBA degree bring you, enabling you to leap frog into new careers or start your own business.
You Develop Brilliant Management Skills
MBA and its specializations teach you a lot about everything that makes a company tick. By acquiring the technical and theoretical knowledge of subjects like Marketing, Human Resources, Operations, Finance, and Strategy, you learn how to:
- Manufacture, advertise, and sell products
- Keep a company’s finances healthy
- Build a company’s image
- Collect and analyze industry data
- Hire the right people and keep them motivated
- Create hierarchies for effective work-management
- Build teams for effective task accomplishment and delivery of goals
- Plan to start a business and stay ahead of the competition
- Make tough calls at the right time
An MBA program challenges your boundaries. It engages you with International Business trends and gets you to apply the newest management techniques to solve emerging issues.
You Be Your Own Boss
You are well-equipped to be your own boss. All of the above skills and knowledge put you in a very good place to have your own start-up. Many MBA graduates become young entrepreneurs. The business management, planning, and financial handling skills you acquire during the course put you in the perfect position to manage your own business effectively and contribute to the economic development of your country.
You Move Up In Your Career
Mostly, an MBA leads to the next step in your career. It can lead you to a management-level position if you are not in management and if you are in management already, it can land you a quick promotion.
Say, you are an engineer in the energy sector, involved in making structural drawings and examining pipes and their specifications for upcoming projects. An MBA would propel you one or two notches up to a managerial role where you’d have a team reporting to you on these matters and you’d be looking at the larger picture, interfacing with the client, and taking strategic decisions.
The typical mechanical or electrical engineer understands machine dynamics but may find it difficult to have smooth customer negotiations and conclude deals. An MBA helps instil these soft skills in the person.
Wider Career Opportunities
An MBA graduate can pursue a career in multiple specialized areas and business sectors, as well as the public sector. The program imparts diverse knowledge and skills to the participants, making them versatile for a variety of sectors.
You Can Move into New Functional Areas and Industries
An MBA can lead you to move from the function of Product Marketing to Internal Strategy or it can help you make an industry jump from semiconductors to healthcare or from the retail sector to the energy sector.
The course gives you specific information and knowledge that you may need in a new industry – this could do with policy or regulatory issues of the new industry.
Can Help You Move to a New Country
Studying MBA in a new country helps familiarize you with the country and its people. It enables you to find companies that you want to work for and arrange meetings with potential employers. In fact, many students choose their MBA program based on location — with a long-term view of staying and working there after their studies.
You should check out the visa regulations of the country you intend applying to. Some MBA rankings rate schools based on a metric called ‘international mobility’, which tells you the percentage of foreign graduates who get to work in that country after completing their MBA program.
Enables Entry to Blue-Chip Companies
Many blue-chip organizations have made it a policy to hire only MBAs at the entry levels of management. They hire these MBA degree holders as management trainees in various departments. It is these management trainees who move up the ladder.
So, non-MBA degree holders don’t get a chance to enter these companies.
Removes Growth Barriers
Having a management degree is an added weapon which helps when being considered for promotion and higher positions in the corporate structure. The lack of an MBA degree can lead to deserving people being overlooked simply because it is an organizational policy.
Perfect for Networking
A business school is the perfect ground to meet people who can impact your career. Distinguished old-school businessmen, new entrepreneurs, recruiters, and fellow students who are future business managers and CEOs – any of them can be a useful ally, partner, advisor, or someone who can recommend you to a prospective employer.
Internships – a part of most MBA programs – also help you meet potential employers. The network of people you meet during your MBA is a lifetime’s asset.
The MBA degree has worldwide credentials. It is a kind of equalizer — respected the world over. The degree testifies a certain level of competence. It is heartening to see that top heads of brands in USA, the UK, Canada, etc. are MBAs from countries like India and China.
People will be at ease conducting business with an MBA graduate as compared with doing business with a non-MBA.
In addition, the degree shows mastery over a particular area or sector such as finance, management, business consultation, etc.
MBA graduates gain in-depth knowledge about business operations. While those without an MBA ponder endlessly about why a particular business decision is made, an MBA graduate is able to grasp the reality and take reasoned decisions.
Enhances Communication Skills
MBA graduates are taught how to speak clearly. They are given lessons in the art of language and making meaningful communication. As part of the MBA program, they learn to develop effective and exceptional presentations and also how to interact with people in and out of the classroom setting.
These communication skills are invaluable in the business world.
Is a Flexible Program
You can keep your job and study the MBA program. An MBA program offers this kind of flexibility. An MBA can be a full-time program as well as a part-time one. This option means that students can study at a convenient pace.
There is usually the option to attend classes in the evenings and, occasionally, there is the option to attend classes on weekends alone.
An MBA graduate almost becomes a new person upon completing the degree program.
Her or his perception of the business world and the world around him changes. The confidence level boosts up tremendously. The new knowledge and skills in the graduate’s armory, give her or him a huge shot of adrenalin for life. The person emerges a stronger professional with hard and soft skills, enabling him to develop into an exceptional communicator and advisor.
So, go ahead and sign up for that MBA program you are eyeing!