Is Going for an MBA after a Bachelor’s in Psychology a Good Idea?
“Who looks outside; dreams, Who looks inside, awakes”– Carl Jung
As per Carl Jung, if you want to know anything about anything, be it a person, business, product, or relationship, between two things or even if you’re going to win a war, it comes from pieces of information and information comes from within. To have a clear understanding of the question of whether or not it is good to do an MBA after a Bachelor’s in Psychology, we need to understand how Psychology can be used in Business Management. Especially what are the aspects you can address that a non-psychology student can’t? To cut it short, understand how you can use psychology in your responsibilities to increase your overall performance as a manager. Now the question that comes to mind is:
What are the Skills Required as a “BUSINESS MANAGER”?
Business Management is among the top-ranked careers and with the fast pace of development, it is expected to rise beyond imagination. “Change will be happening so quickly that 50% of the occupations that exist today will not exist 10 years from now. So we’re going to be living in an environment that is extremely adaptable and changing all the time,” says Liz Bentley, the founder of Liz Bentley Associates. Thus, it can be interpreted that Business Management is here to stay.
Every company anywhere in the world is looking for a person who has foundational knowledge and can convert them into unique skills because “the bossy” attitude and approach is not going to work in a tight labour market where “logical reason” is everything. Skills like reasoning, negotiation, organising resources, leadership and relationship building with your management, colleagues and subordinates are of utmost importance. As there is a saying in defence forces
“TAKE CARE OF YOUR MEN AND THE MEN WILL TAKE CARE OF YOU!”
Skills Required by Business Managers
Technology Management Skills
The change the world, especially India, has seen in the last 20 years in terms of technology deployment and involvement in workplaces is drastic. From no Internet, and working on hard copies to 5G and software management systems, the world has changed a lot. Those who didn’t keep up faced many difficulties. “To grow together” is the only option we all have.
Out Centric Leadership Skills
As per definition the person who leads or commands a group, an organisation, or a country. But a true leader knows way beyond that! Taking care of your people while making sure everything grows with it. Building teams or growing a business is an integral part of it, this is where psychology steps in. Having a clear understanding of the people you work with, about their strengths and weaknesses also falls under the responsibility of the leader.
“Effective managers are going to have to be as good at evaluating candidates and employees for soft skills as they are for technical skills,” says Rita Santelli, CEO of innovation consulting firm Savvy. If there is no good communication there is no growth because subordinates will not be able to share ideas, problems and solutions. Other soft skills that are important from a business point of view are time management, critical thinking, problem-solving and a few others. If a manager has learnt to establish the right balance of these skills, that’s when he is able to truly use psychology in his day-to-day managerial responsibilities.
Results-Only Work Environment
Over the years increased productivity is the end goal of any company which involves the maximum input from everyone i.e. individual productivity increase. Addressing issues leads to increased efficiency which comes from an understanding of the environment and persons.
A shift from a non-traditional way, requires answers for what, why and how. Transparency plays a vital role to answer those questions because it builds trust among colleagues. Trust allows you to have strong connections and which further leads to an effective and highly motivated team.
As a leader, it is very important to understand and recognise your own emotions as well the emotions of those around you. It helps you bring strong bonds with your team and helps you establish an atmosphere of cooperation.
Don’t these skills make you believe that as a psychology student, you are the perfect fit for managerial positions? Then why not increase your chances by pursuing an MBA degree?
The understanding of human behaviour that you have already gives you an upper hand over others. During your MBA, you will acquire valuable hard and soft skills that will prepare you to traverse through the thick waters of the business world.
Hard and Soft Skills Necessary for Business Administration:
|HARD SKILLS||SOFT SKILLS|
|Psychology and Cognitive Science Fundamentals||Critical Thinking|
|Quantitative and Qualitative Research||Listening|
|Experiential Learning||Creative Problem Solving|
The best and the most important part that will act as a catalyst in your career of business management is “BEHAVIOURAL PSYCHOLOGY.”
The systematic approach to understanding the behaviour of humans is behaviourism or behavioural sciences. With this knowledge, you will be able to understand the behavioural patterns of your colleagues, will know them better, how they are as an individual, how you as a manager take out their most productive self and much more. You can also enhance these skills while doing an MBA.
Career Prospects for Psychology Students after MBA
As we have read and understood that psychology students can make great leaders, hence, it is also easy for them to tap into the job market. Studies have shown that only 34% of the people come from a management field but on the other hand, 66% of the people come from non-management fields into managerial positions.
There are some of the job prospects in Business Management that a psychology student can pursue after MBA:
- Corporate Leaders
- Human Resource Professionals
- Social Worker Executives
- Industrial Counselor
- Corporate Consultant, and many others.
The amalgamation of psychology and MBA is drastic and it opens doors of job possibilities for the students. Additionally, these jobs are highly lucrative and are expected to contribute to the job market in the long run.
There is no doubt that an MBA will be beneficial for you after a bachelor’s in psychology. It will not only help you to elevate your career but will also bring opportunities for personality development.