At first glance, the answer to this question might seem obvious. The MBA is the world’s most sought after degree, and there are many good reasons to go to one of the world’s best Business Schools. But here are some points that will help you decide if an MBA is the perfect degree for yourself, and what kind of MBA you should look at.
MBA or other Master’s Degree?
First, you need to be sure that a Business Management degree is what your career needs right now. If you have a few years of professional experience, and you see a clear opportunity to give your career a huge boost, go for it! An MBA helps with discontinuous growth for example, in modernizing a traditional business that you lead, or in building a huge professional network to switch industries, or even in fast tracking your growth in your current place of work by 57 years.
In the long run, an MBA always makes sense; the board rooms of the world are filled with MBAs in many companies, to the extent of 90% 100%.
Second, you need to evaluate your profile for admission. If you are fresh out of college, you might want to collect another Master’s degree, or get some work experience under your belt, especially if an MBA abroad is on the long term cards. If you have domain expertise in a specific field, and are confident that you want to remain on that path, a Master’s degree makes sense. If you have professional excellence demonstrated over a few years’ work experience, and if you gravitate towards generalist / leadership experience, you should go for an MBA.
Finally, you need to ensure that you can spend the time required to prepare. Over the 12 month time window that you will take to apply for and gain acceptance to your schools of choice, you need a 6 – 12 month window for test prep, and an intense 12 month prep window. You will also need time just before your applications, to ace every application.
MBA Abroad or MBA in India?
If you want the edge in a global career or a global company, look for an MBA abroad. Statistics show that the prestige of a global MBA slightly edges that of an Indian MBA of comparable stature, in a global company anywhere in the world, or in a job role abroad. This usually manifests itself as an accelerated career path.
Disregard cost of MBA the differential can be wiped out over a few years of work abroad, if needed. Based only on currency conversion, a global MBA costs about 34 times that of an MBA in India (purchasing power parity wise, they’re roughly equal). However, given that job opportunities in countries with stronger currencies are readily available post a global MBA, the loans in either case are equally easy to wipe out within half a decade of the program completion.
With careful preparation, you can get into the best programs in India or abroad with equal ease. Finally, ease of entry should not really impact your decision on whether to do an MBA in India or abroad; with the right mentors and guides, you can gain admission into the best programs in the world. Once you are sure that an MBA is right for you at this point in your career, go for it!
Whatever you decide, it is sure that an MBA can kickstart your career, and that you need the best partners to give you the Business School seat that you deserve. Get in touch with a top Test Prep and Admissions Consultant like Jamboree today!