“Why MBA”, is one of the most prominent questions that every MBA aspirant is asked while seeking admission to an MBA college. Moreover, this is a question an aspirant even asks us at CF while attending our counseling sessions. Therefore, we decided to compile a blog with the most accurate answer to the question, “Why MBA?”
If we look at some of the most successful businessmen in India, one thing that’s common in them is an MBA degree. We cannot deny the fact that an MBA degree not only sows the seeds of a successful entrepreneur in us but also nurtures the seed with powerful nutrients like self-confidence, knowledge, creativity, innovation, organizational & leadership skills and the ability to take risks and make quick decisions.
Let’s have a look at some of these business magnates who have been featured in Forbes richest list years after year re-iterating the fact that MBA graduates possess expertise, experience and evidence and that brings more victory and greater success than possessing instinct, intuition, and imagination.
So, let’s look at the list of top 6 CEOs, business magnates, and corporate monarchs of India who showcase in the Forbes list and are MBAs in qualification.
- Ratan Tata, Chairman, Tata Group
- Rahul Bajaj, Chairman, Bajaj Group
- K V Kamath, Non-executive Chairman, ICICI Bank and Chairman, Infosys Ltd
- Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group.
- Anand Mahindra, Vice Chairman and Managing Director, Mahindra and Mahindra
- Adi Godrej, Godrej Group
Coming back to the question, why an MBA and what does an MBA degree do?
- Helps Learn Business Management Skills – If you aspire to climb up the corporate ladder, you need to have sound knowledge of business management. You need various managerial skills to perform your duties at the manager level in a corporate environment. An MBA degree equips you with the desired skills to excel in the corporate environment.
- To Accelerate Your Own Business Venture – If you plan to be an entrepreneur and start your own business pursuing the dream concept you developed during your graduation days; an MBA degree will help you gain knowledge of all necessary aspects of setting up your own business and developing various processes to run your business. Even if you plan to hire resources for the job, having your own knowledge will always be an added advantage.
- For Professional Self Grooming – MBA can be the best thing for you if you want to groom yourself professionally. The B-School experience of learning, numerous case studies, industry interference, and collaborative study help you widen your wings professionally.
- For Career Shift – Getting an MBA degree is a top choice for people intending a career shift. Many people experience monotony or lack of enthusiasm in their everyday routine at work. The job which was once challenging starts becoming boring and people need a career shift. MBA provides the perfect path to such people looking for a career shift with numerous specialization options based on their individual interests.
- Opportunity for Professional Networking – This is one of the benefits of pursuing an MBA from an international B-School with students from different parts of the globe. You not only get a chance to meet people from various nationalities, but also acquire knowledge about their culture, and heritage. However, the most important advantage is the option of business networking. You get a chance to develop your own personal contacts across the globe which becomes a key advantage once you start working post completion of your MBA studies.
NO AGE BAR
The best part of pursuing an MBA degree is that unlike the other professional degrees, the MBA has no age bar. Therefore, you can do your MBA at any stage in your life.
Right after The Graduation
Doing an MBA right after graduation increases employability of a candidate. It enhances an individual’s professional skill sets by adding knowledge of different aspects of business management. For example, a candidate with graduate degree in accounts and finance can increase his/ her professional worth by getting an MBA in Finance. In some cases, candidates who are not able to get themselves enrolled in a reputed college during their graduation; prefer to aim for a reputed B-College to cover up for any lost opportunity.
After Few Years of Work-Experience
Most aspirants opt for an MBA degree after acquiring a few years of work experience in their specific domains. It happens mostly with people who get technical specialization during their graduation, and then after working for a few years they prefer to go for CAT or GMAT. Some candidates in this segment do it with the purpose of self-financing their MBA education with the savings they did during their job. Such candidates enjoy better demand and better salary because of their multi-domain knowledge.
These are some of the prime reasons that should affect your decision of pursuing an MBA. What’s your take on this; please let us know in the comments.