How does an MBA leverage one’s prospects in the corporate world?
MBA has become a mandatory acronym to have in one’s resume. Some people may be skeptical about the validity of the program. However, most agree that graduation in management is worth every penny spent on acquiring it.
What do B-schools teach?
Business schools imbibe the principles and practices of Management education while preparing their graduates to conduct businesses seamlessly.
B-schools teach general management and hone the students’ leadership skills. Specializations in various fields help graduates to conduct themselves in that area.
Bootcamps or internships expose students to real-time industry projects. Graduates get hands-on experience in handling business situations.
The emerging graduate is ready to take on assignments and engage in corporate work.
Let us explore a few facts and myths connected with an MBA.
- Anyone can pick up knowledge from books or the internet.
All reading helps in some ways. Nevertheless, one picks up bookish knowledge sans any practical application by reading the courseware. Experienced faculty and industry veterans impart their wisdom in B-schools. The schools could not have charged fees in lakhs of rupees (or in dollars or other currencies outside India) if reading the courseware sufficed.
- MBAs earn more than non-MBAs
MBAs attract lucrative projects.
Both the above points are valid for the same reason. Economic betterment is one of the prime reasons people choose to enroll in the program. Employers hire MBAs for a reasonably good salary, and most graduates also receive hefty signing bonuses. Companies do not pay employees for adding a qualification to their resumes. Furthermore, clients do not pay people who have degrees.
The graduation equips a person with the necessary know-how and skillsets to run companies successfully and execute projects to fruition. Corporations willingly pay MBAs for their expertise in business enterprise. Clients understand the MBA graduate’s capabilities in churning out successful projects.
- Do MBAs have no life besides academics or are they skillful in time management?
That graduation in management leaves little time for anything besides academics is a myth. Studying in a B-school teaches one time management. Students learn to balance time between submitting assignments on time, preparing for the class, interacting with faculty, or attending lectures. Students learn to balance academics, family, and other events without getting burnt out.
The pedagogy in B-schools varies depending on the curriculum and the school management. However, almost all of them set aside time for extracurricular activities. B-schools and universities take pride in the various clubs, quizzes, contests, and sports meets. Students enjoy a good mix of non-academic events in graduate schools.
- MBA Internships are arduous
Internships prepare students with hands-on training in a short period. Most internships last six to eight weeks. The timeframe is limited to allow students’ assimilation of business practices. Some may find the rigors formidable, but the experience prepares graduates to face similar situations in their professional lives.
- MBAs are adept at strategic thinking
The degree exposes students to case studies besides both simulated and real corporate scenarios. Students discuss and analyze each case study and learn from the case. Students get several opportunities through boot camps and other situations to hone their strategic thinking abilities. Working on multiple-option scenarios and out-of-the-box thinking comes naturally to students by the end of the program.
- MBAs have excellent communication skills
Communication skills are essential for everyone in all walks of life. People need to connect and collaborate for various reasons. Students interact with batchmates, juniors/seniors, faculty, and industry professionals for various events. Each scenario whets the students’ communication skills. Communicating with people at university, work, clients, family, and social occasions comes naturally to the graduates.
- MBAs enjoy a broad global exposure
Studying under professionals from the industry exposes students to different aspects of businesses. Many B-schools hire visiting faculty from across the globe. Students learn international business practices when they interact with executives from international corporations. Many alumni who work across the globe connect with students now and then, mentoring and counseling them on various matters. The broad worldview is a corollary of the various associations students have during their graduation.
- MBAs nurture a vast Network of professional associates
During graduation, students meet batchmates from across a broad spectrum of regions and cultures. They also interact with both in-house and visiting faculty. The latter group comes from different industries. Alumni from across borders counsel students. Internships, projects, and many events during the course provide students an enviable network of professionals.
- MBAs get better job opportunities and also make the best entrepreneurs
Organizations seek qualified professionals when they hire. Employers look for skilled people with expertise in turning business around. Expecting job prospects to go through the roof is farfetched. Nevertheless, the prospects improve to the extent of moving one’s resume ahead of a non-MBA candidate.
Clients hire competent people who would carry out their projects proficiently. The course equips graduates with the skills necessary to run companies efficiently.
- MBAs carry an air of self-confidence
Knowledge of anything boosts a person’s confidence. Learning from experts and spending two years in actual and simulated situations boosts the person’s self-confidence. Studies on MBA graduates have confirmed the claim about MBAs’ increased self-confidence. The accomplishment of competence to outstanding earning opportunities by itself augments anyone’s self-confidence.
- MBAs get the pick of careers
The program sharpens students’ financial acumen, analytical skills, risk assessment, problem-solving skills, leadership skills, team management, communication skills, besides a horde of skill sets necessary for successful business management. The degree generates graduates equipped to take on challenging tasks head-on. No wonder then MBAs can choose from a broad spectrum of career paths.
What is the return on investment in enrolling for an MBA?
The ROIs are plenty. MBA graduates learn the skillsets needed to lead companies. The monetary benefits far outweigh the fees one pays for the degree. An MBA graduate’s network comprises the topmost industry professionals, including CEOs, Head Honchos of corporations, and entrepreneurs. This network is crucial in developing a person’s career.
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