With over 4,000 business schools in the country, approximately 3.5 lakh management graduates every year. The reason why so many youngsters want to do MBA is the glittering future which it can promise. But is the reality so? Do all management graduates earn six-digit salary? Is MBA a shortcut to success? Does MBA gives what it really promises? These are few questions which occupy a seat in the minds of MBA aspirants.
Before joining any program we do look at what the program would give us, but we forget to ask ourselves whether this is what we want. It is said that, “knowledge never goes waste”. It is our will (interest) which decides to what extent we would utilize this knowledge. So it becomes imperative to first ask ourselves what we want and then seek what a program would give because in a program like MBA a lot is at stake. By stake here I mean are the huge investment, time and the opportunity cost for people leaving their jobs. It is also necessary to understand what the market wants and where our true passion lies. If congruence between the two demands MBA, only then should we go for it. It is also important as is helps us in define the reason for doing MBA, while filling forms of various colleges.
MBA can be done by any graduates irrespective of their stream, who want to increase their business knowledge from a corporate perspective. Not only this, it also broadens the perspective on what else is out there, help build a valuable network of associates and friends, a chance to discover and pursue the academic passion and best part- provides a summer internship to explore a career field, that too risk-free! The presence of diversity- with work experience and fresher, males and females of different background- brings in new prospects of thinking and learning. The caliber of the students and the experiences that they bring to campus are the most enriching part of B-School. Such a potent pool becomes a cynosure for the corporate world, when it comes to hiring the best talent.
However not everyone would agree with me. Some might feel that MBA cultivates herd mentality and kills the entrepreneur in them. It teaches things that we know one will never use but have to learn to pass exams. The things real world could teach us, a classroom can never imitate that. But, there are benefits to leaving our limited world, created over the years, and associate with a dynamic and fluid group of new people. It doesn’t really matter what the dynamic and fluid group of new people is called and the credential isn’t all that important these days. So like what really goes on at Harvard or Stanford B-school is that they assemble a large number of bright young people who enjoy thinking about business problems and doing semi-creative stuff with business. I feel it is a very tough road ahead for all of us since the world has high expectations from an MBA graduate.
The MBA offers tremendous flexibility and instant creditability. The MBA do not promise a lifetime of employment with a company, but it does offer a strategic plan for a lifetime worth of employability. The MBA is International Marketable. It will not depreciate over its life, but appreciate with experience. It is designed to give people a solid foundation.