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Management

MBA – To do or not to do

Online Manipal Editorial Team | October 13, 2022

There are many different professional options available in recent times, and many informed professionals are vying for the same positions. Finding the ideal postgraduate program to enroll in can be difficult, given the variety of career choices. Earning an MBA is a great choice for individuals interested in business or management because it will empower them with the requisite skills, abilities, and attitudes to blend in with the corporate world. 

Studying for an MBA has several benefits, from widening job options and potential earnings to developing business management abilities and expanding your network. Although enrolling in an MBA program can be expensive, there are many benefits of MBA certifications, and they should be seen as an asset in your future. We’ll examine the main justifications for pursuing an MBA in this post, answering the query, “Is an MBA worth it?”

All businesses search for candidates with the necessary job-related abilities and the ability to contribute solid information to make informed business choices. The same business concepts apply whether you work in an enterprise’s public or private sectors, and these decisions span the tactical, operational, and strategic spectrum. Achieving operational excellence is a need if you want to advance your business and career in the future, which an MBA can accomplish.

To more check out How can an online MBA degree help you?

Reasons to pursue an MBA degree

Here are some of the reasons why you should pursue an MBA program.

  • Versatile career options

Career options after MBA are enormous, and graduates of an MBA degree get access to a more expansive and diverse job market. An MBA covers several fundamental subjects, including economics, finance, statistics, technology, and human resources. An MBA graduate with experience in any of these fields is qualified to pursue a career in a variety of fields and corporate sectors and the public sector, giving them access to a wide range of job prospects. Also, an MBA will look fantastic on your resume and give you an advantage over other job hopefuls in the fiercely competitive field of today.

  • Multiple specializations to choose from

Earning an MBA makes individuals excel in their education in a particular field of study. Employers from all over the world acknowledge the importance of MBA programs in showcasing a student’s abilities. Your specialization will influence the types of professions that you will be qualified for in the future. Make a strong case for yourself by selecting the appropriate specialization. The following are a few of the most prominent MBA program specialties:

  • HRM (Human Resource Management)
  • Finance
  • Entrepreneurship
  • Marketing
  • IT & FinTech
  • Analytics & Data Science
  • Retail Management
  • BFSI
  • Operations Management
  • Get to learn management skills

Several MBA grads have discovered that their postgraduate education has greatly enlightened them on various facets of life, particularly with company operations. Graduates with an MBA gain a thorough understanding of the corporate world and a strong grasp of adjusting to shifting business environments and developing sectors. An MBA graduate can relate as they’d be taught earlier, as opposed to individuals without an MBA who may speculate endlessly and wonder how and why a specific business decision is reached. 

  • Access to an extensive business network

Recruiters, keynote speakers, traditional businessmen, fresh entrepreneurs, managing directors—the list of people you can encounter while enrolled in an MBA program is virtually unlimited. Furthermore, you’ll likely network with a lot of aspiring business owners and possibly meet your future investment associate as your fellow MBA classmates will share your ambition to thrive in the business world. Simply put, an MBA degree opens the door for you to network with upcoming executives and managers in your peer group that may act as excellent references for you.

  • Helps in career growth

An MBA demonstrates to prospective recruiters that the candidate has been “certified” in the more abstract topics of managing a firm and has the motivation to see things through. An MBA can improve your professional commercial viability and expand the variety and number of careers available to you. It also aids in the development of your professional network and corporate leadership skills. You can advance to more senior management positions with an MBA. 

  • Better salary packages

There is a large disparity in the salaries offered to those with MBAs and those with other degrees. An MBA graduate is typically better paid than other employees in the given organization. According to the National Association of Colleges and Employers, the average starting salary for MBA graduates in 2021 will be $87,966

  • Develops entrepreneur skills

An MBA equips you with all the vital competencies required to start your firm from scratch. MBA programs deliver much more than just the theory taught in lectures, which enables students to formulate competencies like negotiating, teamwork, conflict resolution, public speaking, and management. It happens as a result of the numerous tasks, activities, and assignments that students must do during their MBA program. In addition, when you pursue an MBA, there are options outside of academia that can assist you in discovering your entrepreneurial passion. 

  • Ideal for career transition

One of the key benefits of MBA programs is the ability to acquire business expertise in a completely different area. Many people pursue an MBA to allow them to change careers and re-skill in a new field. After receiving their degrees, many MBA graduates opt to work in the consulting or finance sectors. Possibilities in these fields may not ordinarily be accessible to individuals from different educational or professional backgrounds, but having an MBA opens them up.

  • Better ROI

An MBA is a significant financial commitment, and any major investment decision calls for thorough research. A solid MBA revives job paths and modifies the way of living as investments pay off over time because incomes skyrocket after a few years of employment. The wealth of intangible advantages, such as the worth of the network built, personal development, etc., should also be taken into account.

  • Fosters personality development

With a fresh perspective on life and profoundly improved knowledge of the business world about the various subjects covered in an MBA program, it is not an exaggeration to remark that an MBA graduate becomes an improved version of himself/ herself. MBA grads are better able to advise and communicate effectively, owing to their newly acquired professionalism and survival skills. Unquestionably, obtaining a master’s degree in business administration will alter your perspective on the world and help you develop the attitude required for professional success. 

Key personal development abilities that an MBA student can pick up include:

  • Leadership and people management
  • Business acumen
  • Communication skills
  • Effective business decision-making skills 
  • Ability to manage problematic situations

To know more check out Can an online MBA course get you a better salary?

Online MBA or Offline MBA: What should you choose?

Since the Covid-19 epidemic, online learning has been more prevalent in education. All colleges and institutions today function online, enabling students to do their coursework while relaxing in their own homes. It also affects MBA programs. Online MBA programs are now just as lucrative as offline MBA courses due to the exponential growth of the Indian edtech industry, partnerships between numerous academic portals and Indian schools and foreign colleges, and other factors. 

Therefore, depending on their unique limits, goals, and aspirations, graduates and working professionals should select an offline MBA program that is more economical and feasible than an online MBA program. Working professionals can blend employment and education, thanks to distance learning and online MBA programs, which means they don’t lose out on their pay or the chance to enroll in a full-time program. Individuals who still want to know “Is an online MBA worth it?” must consider the following factors.

Rising considerations for online MBA applications

  • Widespread acceptance

Individuals welcomed the simplicity, convenience, and flexibility, but it’s very amazing to see the degree of acceptance it has gained over the past few years on both the organizations’ and participants’ sides. There were barriers in the past because institutions and attendees may have believed that proper learning occurs best on campuses, but now that many folks have had the opportunity to do so, they realize that there are relatively new methods of learning that may produce outcomes similar to those of on-campus education.

  • Versatility 

Today’s youth wants to enter the workforce more quickly; therefore, if you are working and want to advance your career, an online MBA is the best choice. Another factor is affordability, particularly for society’s most vulnerable groups. Women who manage home companies, have young children to look after, or may need the flexibility of time and location to prefer the online format of an MBA. Students with disabilities regrettably cannot use the standard university facilities. The final group comprises those who have a problem accessing high-quality education due to geography.

  • Designed to complement conventional courses 

Online courses are substantially equivalent to traditional education courses in terms of design. These courses are created so that they are compared to the conventional method as feasible, with the added advantages of flexibility, time, and convenience at a lower price.

How much does an MBA degree cost?

Although the price of an MBA might vary, the typical tuition fee for a two-year full-time MBA program in India ranges from INR 20,000 to INR 40 lakh. Students pay huge bucks for the opportunity to earn an MBA because it is frequently considered an investment in their future. Many students’ desire to earn an MBA is compromised due to hefty college fees. 

The pricing structure of MBA programs in India is based on several variables, including the curriculum, the campus’s amenities, the availability of dorm rooms, exposure to foreign cultures, and placement assistance, among many others. Multiple aspects compute the overall cost of an MBA program, such as residency status, part-time versus full-time enrollment, type of school, or whether students undertake an online or on-campus education. 

In comparison to offline MBA programs, online MBA programs cost less, and this is primarily due to their decreased operating expenses. You can prioritize a relatively long online MBA program by paying the fees in monthly installments, which also tends to make it more cost-effective. This method of payment is not only simpler for students with lower incomes, but it also appeals more to employers who are considering sponsoring the training of their employees. 

Since online MBA students can keep working while enrolled in the program, they don’t lose out on their pay and can use some of their earnings to pay back some of their tuition. There are no costs or relocation requirements for this program. Also, there’s no expense on daily commutes, which implies substantial savings. 

You can also check out What factors reduce the cost of MBA online programs? To know in depth about how an online MBA is is more affordable compared to a traditional one.

How to choose the right MBA specialization?

An MBA degree can make way for a range of possibilities and bring your career up multiple notches. If you select the appropriate specialization early on, you will not only obtain a competitive advantage but also more advantages in the future. 

MBA in Data Science and Analytics

Using data to identify quick fixes and forecast findings for business challenges is at the heart of data analytics. This likewise incorporates machine learning algorithms to text, pictures, video, and audio and derives various inferences from them. An MBA specialization in data science and analytics might well enable you to learn everything regarding data infrastructure, testing, machine learning, and decision-making.

Profiles and roles offered:

  • Data Scientist
  • Data Deployment Strategist
  • Data Analyst
  • Business Analyst
  • Data Architect
  • Data Developer

MBA in Finance

One of the most prominent MBA specialties in finance due to the field’s tremendous growth potential. No organization grows without precise financial management. Planning and managing an organization’s financial assets, therefore, calls for experts in financial management.

Roles offered:

  • Financial Analyst
  • Finance Manager
  • Senior Business Analyst
  • Senior Finance Analyst Credit 
  • Risk Manager
  • Portfolio Manager
  • Treasury Manager
  • Assistant Vice President – Finance/Corporate Banking

MBA in Human Resource Management

The process of recruiting new employees and preparing them for work is one of an organization’s most crucial operations. An MBA specialty in Human Resource Management instructs learners about how to oversee the personnel, reward systems, performance evaluation, and much more.

Roles offered:

  • Director-HR 
  • Team Leader
  • Assistant HR Manager
  • Regional HR Manager

MBA in Operations Management

Operations Management (OM) is a highly specialized field that focuses mostly on enterprise resource planning, vendor management, procurement management, and inventory management in production, manufacturing, and services. OM streamlines the process of providing value to the end user by increasing productivity, quality, cost, and turnaround time. It is now a highly sought-after specialization in various sectors, including telecom, IT, and e-commerce. 

Roles offered:

  • Procurement Manager
  • Plant/Facility Manager
  • Logistics/Distribution Manager
  • Warehouse Manager
  • Supply Chain Manager
  • Project Manager
  • Sales Operation and Production Manager

MBA in Marketing

MBA in Marketing refers to the analysis of the management process by which products and services flow from conception to client. The role of a company’s marketing division is to increase sales, enhance market share, and draw in new customers. Students who choose to specialize in marketing will gain knowledge in areas such as consumer behavior, social media marketing, brand management, and digital marketing. 

Roles offered:

  • Sales Manager
  • Sales Architect
  • Business Analyst
  • Retail Marketing Associate
  • Social Media Manager
  • Email Marketing Manager
  • Social Advertising Executive
  • Marketing Designer
  • Marketing Analyst

MBA in Information (IT) Systems

This specialization’s goal is to give students a foundational understanding of computer systems and the managerial decision-making processes they facilitate. The widespread adoption of technology has increased the demand for employees with a blend of business and cutting-edge technological skills. MIS is the field that aids in data organization and analysis so that you may respond to inquiries and deal with issues about an organization’s objective. 

Roles offered:

  • Data Analyst
  • Data Scientist
  • Database Administrator
  • Information Systems Manager
  • IT Consultant
  • IT Technical Support Officer
  • Systems Analyst
  • Information Security Manager
  • Technical Support Specialist
  • Application Analyst

MBA in International Business

The majority of companies deal with international customers. Consequently, there is a significant demand for experts who are familiar with how other legal systems operate and how cultural norms may affect a company. Students that are interested in working internationally often opt for an MBA specialization in International Business. This course will broaden your perspective on commerce, increase your cultural sensitivity, and improve your communication abilities.

Profiles and Roles Offered:

  • Manager International Business
  • Manager International Operations
  • Manager Export
  • Manager International Finance
  • Manager Imports
  • Manager Logistics

You can look at the 10 best career options for you after an online MBA to know how you can advance your career after an online MBA.

Is work experience needed for an MBA?

You can get admission into an MBA without work experience too. It means that any student can apply for admission to the MBA program, whether a graduate or a working professional. 

Why does work experience matter?

An MBA helps you hone your skills rather than build them from the ground up. Because of this, it’s critical to have some knowledge about the working world. MBA programs are created to be hands-on, experiential learning opportunities where learners draw from the context of their prior experience as well as that of their peers to enhance the learning atmosphere. Without real-world experience, classroom discussion will have to dwell a lot more on theory, giving students fewer chances to learn from one another’s past failures and accomplishments.

Online MBA for working professionals

Industries are experiencing an exponential increase in competition. Professionals are now required to acquire the newest industry-related skill sets to remain competitive due to the amount of competition. Working individuals can learn the greatest business techniques while participating in the most recent business scenarios through online MBA courses. The best online MBA programs for working professionals offer both a graduate degree and high-level employment within the organization. 

Check out Is an MBA worth doing for a fresher without work experience?

Is an MBA a difficult degree to get?

Earning an MBA appears like the logical next step for many professionals who want to advance in their careers. You can always benefit from an MBA, regardless of your profession or industry. Given the time and money required, some people might question if getting an MBA is worthwhile. Many prospective students wonder, “Is MBA tough?” or enquire as to why MBAs are so challenging to complete. However, they are asking the incorrect question because an MBA is relatively simple for the average student to complete. 

However, as you’ll probably discover while pursuing your Master of Business Administration, your attitude accounts for more than 50% of your performance in the workplace. Be optimistic and believe in your ability. Consider finding new views on your challenges and using them as opportunities to learn and improve rather than worrying about the intricacy of MBA degrees. In short, an MBA is as challenging as you take it and is as lucrative as you invest in it. In the realm of business, hand-holding is uncommon. Either you become a proficient business expert or the competition outperforms you.

Why should you do an online MBA through Online Manipal?

Manipal University Jaipur offers a highly rated online MBA program administered by knowledgeable faculty who help students succeed in their professional journey. An online MBA from MUJ is appropriate for both recent graduates and seasoned professionals, in contrast to an MBA from MAHE (Manipal Academy of Higher Education), which is designed for working professionals. 

NAAC has granted Manipal University Jaipur an A+ rating, and MUJ expanded its online presence by providing a variety of UGC-approved online degree programs. The modern LMS (Learning management system) at MUJ is used to deliver the extensive curriculum for the online MBA program. Eight electives are available for the online MBA program, including finance, marketing, human resources, operations management, retail management, analytics & data science, business finance, and information technology.

For the virtual classes, subject matter experts from the industry are invited to educate and guide students. Students enrolled in MUJ’s online MBA program also receive scholarship opportunities, industry connections, job placement assistance, and free access to Coursera.

Course duration: 24 months 

Course Fee: INR 1,50,000 (all inclusive) i.e INR 37,500 each semester

Conclusion

In these uncertain times, when the world is changing so expeditiously, taking a moment to consider one’s professional plan can be very helpful. You can benefit in several ways from an online MBA degree by acquiring the skills you need to integrate with the finest in the business community by enrolling in an online program in India. 

Also, if you’re a working professional looking to start your managerial career while keeping your position, enrolling in an online MBA program can be a great choice for you. Hope we made you clear regarding “Is an MBA degree really worth it?”. You may entrust Manipal University Jaipur’s online MBA program to assist you in acquiring the skills necessary to boost your career and succeed in your field of endeavor. So start your exploration now!

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