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Kamaldeep
05 July, 2023
You have a stable job with a steady income. But what next? How to move ahead? Adding an MBA to your CV sounds tempting. It is just the golden ticket that you need to take your career to the next level. It helps you in acquiring a comprehensive knowledge of various business principles and developing the necessary leadership skills. Doing an MBA after a job provides you with opportunities to build a strong professional network, fetch lucrative opportunities and grab bigger pay cheques.
Looking at the numerous benefits that it offers, an MBA sounds like a hard-to-resist opportunity that can fulfil all your dreams. But is it really that simple? Pursuing an MBA requires a lot of time, money and effort. It is no child’s play, especially for working professionals. You will have to devote two years of your life to the programme.
Sure, if you study in a top B-School such as IIMs, you can immediately materialise the outputs of your MBA degree. However, if you do not make it to the cream then it may take several years before the seeds of your MBA degree come to fruition. Nonetheless, it is not a bad idea if you choose to go for an MBA degree for all the right reasons. But what can these right reasons be? And how can getting an MBA help you take your career a notch higher? In this blog, we are going to address all these doubts.
If you think that an MBA degree is a magic wand that will change your life in a single swish and flick, then you must drop the idea of pursuing the course altogether. However, if you are looking to hone some important skills such as developing effective business strategies, becoming more empathetic, building a strong professional network or making a complete career shift, then an MBA is just the degree for you.
During the course, you will find numerous opportunities to build a strong business acumen, develop an entrepreneurial mindset and get to know, in great detail, about the various know-hows of the industrial world. What’s more is that you will get to interact with like-minded individuals as your classmates will be the ones who are seeking similar professional growth as you. These will be the individuals who will make it to the top leadership positions in various companies in the upcoming years.
However, if you want to go for an MBA simply because you feel too bored at your current job or you are not sure what you want to do next, then you must drop the idea entirely as it will only cost you time and money without any benefit as it takes a lot of passion, hard work and dedication to pursue a management degree. Just make sure that whenever you choose to pursue an MBA degree, you are all in for it.
According to the U.S. Bureau of Labour Statistics, the management sector is expected to witness a growth of 5% between 2019 to 2029, creating about 5,05,000 new job openings in the US alone. Thus, a career in management does sound promising.
An MBA is a postgraduate degree that imbibes into students the knowledge of the various core requirements of a business. It provides comprehensive insights about various operational functions such as accounting, communication, management, strategy, etc.
Furthermore, during the MBA, students get a chance to nurture their skills and enhance abilities such as emotional intelligence, collaborative working, etc. Let us now look at the benefits of an MBA one-by-one:
During the course, you will get the opportunity to brush up your existing knowledge and gain new learnings about the various developments in the business world. Going for MBA after jobs will inculcate the habit of lifelong learning in you. You will get a knack for staying up-to-date with the latest breakthroughs in the industry.
In addition to this, an MBA is a professional degree that promotes both professional as well as personal development. Thus, during the course, you will come across various opportunities to hone soft skills such as communication, analytical abilities, data literacy, decision-making abilities, etc.
Therefore, an MBA degree will prepare you to assume more serious responsibilities in the future, helping you climb up the corporate ladder to acquire top management positions.
An article published by the Santa Clara University states that 96% of the fortune 100 companies are looking to hire MBA graduates in the near future. Nearly all companies in the world prefer to hire MBA graduates for more serious roles.
This is because an MBA provides you hands-on experience of the real-world business problems and equips you with the knowledge and skills to solve those problems. Thus, an MBA opens numerous gateways for you. You can shape your career however you want.
According to a joint study by ‘TransparentCareer’ and ‘RelishCareers’, MBA graduates earn $36,742 more than their coworkers on average. The average salary of MBA graduates was reported to be $116,248.
Sounds like a good deal, right? It is beyond doubt that having an MBA degree can do wonders for your income. You can get an instant hike of as high as 25% just after completing the course. And within the next 5 to 6 years, your salary will go even higher.
However, how much you will earn after the MBA depends on a lot of factors such as your location, industry, work experience, college, etc.
During your MBA, you will get to meet various like-minded individuals. Some of them will be skilled professionals like yourself who are preparing to assume leadership positions at their companies, some of them will be business enthusiasts who are looking to kickstart their entrepreneurial journey. All these people will turn out to be resourceful contacts in the future.
Furthermore, during the MBA, you will get to attend various workshops and seminars wherein you will get the chance to interact with academic & industry experts. You can utilise these opportunities to strengthen your relationship with these professionals so that you can seek their guidance in the future.
An MBA will acquaint you with the various know-hows of the business world. It will familiarise you with all the nooks and crannies of how an organisation operates. The case study based pedagogy and experiential learning methods used in MBA will help you develop an innovative mindset that readily comes up with solutions.
All these skills and knowledge will come in handy when you will work on your start-up. You will have prior experience of dealing with similar problems and therefore, will be able to come up with solutions with ease.
While pursuing the course, you will get to meet people from different industries, different educational backgrounds, different cultures. All of them will bring with them a unique vision and some revolutionary ideas.
You will get to discover diverse perspectives and learn about how different industries operate. This will help you gain valuable insights and will prove to be extremely resourceful if you are planning to make a career shift.
The main purpose of an MBA degree is to make you ready for leadership positions. Therefore, during the course, you will come across many opportunities wherein your leadership skills will be put to test. This will help you to enhance your existing skills and develop new skills.
Furthermore, you will get to gain new perspectives on how to lead a team towards success. You will get an idea on how to work together with people from diverse backgrounds and how to utilise their unique qualities to bring out the best outcomes.
An MBA is a prestigious professional degree that can help elevate your career. If you are seeking a career change or are ready to assume management positions in a company, the programme will help you brush up your skills and gain comprehensive knowledge about the latest development in the business world. For working professionals, pursuing MBA after jobs will help you to broaden your horizons by equipping you with leadership skills, strengthening your professional network and bringing opportunities to gain diverse perspectives.
