The origin of MBA can be traced to the United States of American. Perhaps it is the most sort of a degree in the world, although it is only a century old. However, factors like globalization and its effect on respective countries, have significantly contributed in increasing the significance of an MBA degree. Therefore a person who is looking forward to strengthen his or her ground in the field of entrepreneurship has the goal of climbing the corporate ladder, it is important such a person should go for an MBA degree. This degree provides an insight regarding the acumen and various tricks that are required for confidently handling business and various segments constituting the business. Therefore even if a person is remarkably knowledgeable but an MBA program that is relevant to the field of operations, certainly helps in increasing the managerial skills as well as the soft skills that are required for effectively managing the business. As a result of this significance of an MBA degree, everyone, including fresh graduates and persons with years of experience want to have an MBA degree. But, there are many people who made this decision without really being aware of how an MBA degree can help them in their career. The result is that many MBA aspirants start preparing for this coveted degree without having an answer to the basic question, Why MBA?
Although this can be one of the shortest questions in the professional world but it is also one of the most significant questions. The significance of this question can be evaluated from the fact that a person is required to make several sacrifices on professional as well as personal front in order to get the MBA degree. It is believed by almost everyone that it can be a life-changing experience.
As mentioned above, there are two types of MBA aspirants, the first who have just completed their graduation or are in their final year. On the other hand, there are the persons who have some years of experience and they want to achieve their maximum potential in their professional life. This may involve career progression on career shift. A lot of people also believe that the reason behind the aspiration of having an MBA degree is to earn more money or they are not satisfied with their present job. But if a person wants to do MBA only due to these two reasons, it can be said that the person has a very restrictive than short-term perspective because there is a point after which these aspects do not matter much. For example, in case of a senior manager with a leading IT company, whose job involves regular client interaction, international travel and business development, the person may not need an MBA degree as a person is earning well and is also having an enviable job profile. But if the person wants to enhance his or her knowledge and perspective or want to have a life-changing experience, such a person may still consider having an MBA degree.
Therefore earning more money or having a chance to join another job are not the real reasons due to which a person wishes to have an MBA. Some of the reasons mentioned below really prompt a person to have the esteemed MBA degree. First such reason his career progression. Generally, it has been seen that professionals’ starts there career with an operational role. However, with hard work and result oriented approach, the person gets promotions and reaches a decent position. Therefore now the person has good work experience and good academic profile that after a few years, the person starts feeling stagnated. The reason is that in the present professional world that is highly performance oriented, most of the people also want to have the same qualities and credentials. Therefore, the professionals have to ask the crucial question regarding the unique traits that have to be possessed by them so that they can be differentiated from others. The answer is to have an MBA degree and that too from a prestigious business school. An MBA degree from a prestigious business school can help in achieving a quick transition from a mid-level management job to a senior position where the person will have the chance to take strategic decisions.
Therefore, a quick look at job descriptions of senior positions in the industry reveals that MBA is preferred degree even if it is not mandatory. Therefore, the lack of an MBA degree can be a significant reason for career stagnation.
Another reason behind the aspiration of having an MBA degree is career shift. On the other hand, with the current role, current education and experience of person, there are very little chances that the person can switch to any other industry or role. For example, a person has been working in the IT industry for the last five years but realizes that his true potential is in marketing. Therefore what steps can be taken as such a person to be switch to marketing. The person can take small marketing projects during the weekends, join online marketing courses and make changes in the resume. However, even if the person manages to clear the interview for a marketing job, the person will still be joining at the entry level. The reason is that the experience in the IT industry will not be relevant for a senior level position in marketing. In such a case, having an MBA degree can help. In fact this is among the most significant reasons due to which many professionals decide to do an MBA so that they can shift their career smoothly.
Although, having an MBA degree from a top business school costs a lot but it is not only the knowledge that is provided during this course by the books. It is the interaction and the intellectual debates that the candidates have with professors and peers at the business school that the very enriching. At the same time, innovative and effective pedagogical methods are used at the top business schools. These methods includes case studies, projects, reservations and research papers etc. for example if the candidate has joined the regular two years in the program, during the first year, the core curriculum will comprise of marketing, finance, accounting, statistics, organizational behavior, economics etc. These topics provide the basic knowledge regarding the business. In order to be future CEO, the person should have an overall view of managing the company and also regarding managing the people. Apart from these core subjects, a number of other options are also offered by the business schools, generally in the second year, depending on the scene the person wants to specialize in. This is the point where the candidates should have a good idea of their career path so that they can optimally utilize their MBA program.
Certainly, an MBA degree is a feather in the cap and the MBA from a top business school is more brightly colored feather. Most of the recruiters know very well how difficult it is to join a top business school and therefore, an MBA degree from such schools have a lot of brand value. As the job of evaluating a candidate has been already done by the MBA admissions committee, the employers can be assured of their potential.
Self-growth is another reason due to which the candidates want to have an MBA degree. The most important thing that is learnt by the candidates at the business school is the confidence to be somebody who matters in their professional life. Therefore, an MBA program provides an opportunity to the candidates to think in the direction they want to be. It is possible that were joining the MBA program, the candidates may have different goals but after they have joined, they realize that their goals were different. In this regard, the class from experience, case studies, interaction with faculty and peers, all have a significant impact on the perspective of the candidates, professionally as well as personally. There are many students in MBA programs who find a new person in themselves after they have completed the MBA program.
An MBA program also provides a second chance to the candidates to do what they always wanted to end their life. It also provides independence that was available in student life and also the perspective of working for several years.
Therefore in the end, it can be said that management has become an integral part of the organizations, big or small. Therefore top recruitment companies want the professionals who have excellent leadership and managerial skills. In this way, an MBA degree ensures a promising career to the candidates. An MBA degree also provides international exposure as the candidates may have lucrative job placements throughout the world. National and multinational companies are always looking for fresh as well as experienced MBAs who have excellent academic record.
Therefore, an MBA degree equips students with the knowledge that can shape up their career path. At the same time, this degree also provides insight regarding the wide range of career options that were not earlier available to the students.