Is an MBA worth it in 2024? Pros & cons explained

It goes without saying that a Master of Business Administration or MBA is among the most sought-after master’s degree programs and is highly valued by companies. An MBA degree allows individuals to understand the current dynamics of the business world, analyze the evolving demands of the industry, and help in landing high-paying jobs. Want to know whether an MBA is worth it in 2024. Whether you’re a seasoned professional seeking an edge in leadership or a budding entrepreneur charting your course, discover why an MBA degree is relevant even in today’s times. 

Pursuing an MBA: The pros

There are several advantages of pursuing an MBA degree. Listed below are a few-

Advanced business knowledge

MBA programs cover a broad spectrum of business disciplines, including finance, marketing, operations, strategy, and leadership. This comprehensive curriculum provides in-depth knowledge, preparing individuals for versatile roles in various industries.Even if you want to start a business of your own, an MBA degree will help you gain the expertise a successful entrepreneur needs. 

Leadership & management skills

MBA programs emphasize leadership and management principles. Individuals get to learn how to lead teams, make strategic decisions, and navigate complex business challenges, which are important when you’re entering a managerial position. 

Career advancement

What’s better than pursuing an MBA degree to take your career to new heights? With an MBA degree, individuals can aim for better positions in organizations, demand higher salaries, and accelerate their professional growth. The degree can open doors to executive and leadership roles.

Entrepreneurial skills

For aspiring entrepreneurs, an MBA provides essential skills for starting and managing a business. Courses in entrepreneurship, innovation, and business planning equip individuals with the knowledge and acumen needed to launch and sustain successful ventures.

Networking opportunities

Establishing good industry connections is essential for every professional today. MBA programs facilitate networking with fellow students, alumni, faculty, and industry professionals. The connections formed during the program can lead to valuable collaborations, partnerships, and job opportunities throughout one’s career.

Read more: How online MBAs can benefit working professionals

Cons of pursuing an MBA

While an MBA degree opens doors to a wide range of career opportunities, here are some disadvantages of pursuing an MBA.

High cost

Pursuing an MBA often involves a significant financial investment. Tuition fees, living expenses, and potential lost income during the study period can lead to a substantial financial burden.

Read more: Why an online MBA doesn’t break your bank

Investing time and making a commitment

An MBA program requires individuals to devote time. Also, the time spent pursuing an MBA is time away from the workforce. Individuals need to assess whether the benefits of an MBA outweigh the income sacrificed during the program.

Work experience

Some B-schools require individuals to possess certain years of work experience to be eligible to enroll for the MBA program. This may be disadvantageous for individuals who want to pursue an MBA from a reputed university immediately after completing their undergraduate program.

Online MBA: An alternative to conventional MBA degree

The recent boom of the internet population driven by technological advancements forced institutions to explore online modes of education. Several top universities today are offering online MBA programs that are flexible, affordable, and recognized at par with on-campus programs. The following are some of the benefits of pursuing an MBA online:

• Recognized degree: Online MBA programs are UGC-entitled and recognized at par with online degrees. So, online MBA programs are recognized by government institutions, private organizations and individuals can look for job opportunities abroad.
• Affordable: Online MBA is flexible and it suits the schedules of individuals from diverse backgrounds. It allows them to pursue a hassle-free degree without having to compromise on current commitments. 
• Study at your own pace: You can plan your study according to your needs. Online MBA programs are designed such that you can plan your schedules, assignments, exams and study from the comfort of your home. has created a way for students to have more time to enhance their skills. Time is very important nowadays, and doing an MBA online can save your time for projects and assignments. 
• Learn while you earn: As a working professional, you can reap the benefits of pursuing an online MBA in many ways. You can apply whatever you learn on the job, work on real-world projects, and pursue a degree without quitting your job. 

Read more: How an online MBA can help you career

Top career opportunities after online MBA

There are several job opportunities you can explore after an online MBA. Here are a few.

Product Manager

A Product Manager plays a crucial role in the development and lifecycle management of a product. Their responsibilities encompass a wide range of tasks, from conceptualization and planning to execution and post-launch activities. The average salary of a Product Manager in India is INR 23 LPA

Management Consultant

A management consultant is a professional who provides expert advice and assistance to organizations to improve their performance, efficiency, and overall business strategy. Management consultants are hired for their expertise in various areas, and their role involves analyzing business problems, offering strategic recommendations, and assisting in the implementation of solutions. The average salary of a Management Consultant in India is INR 26 LPA.

HR Director

The role of a Human Resources (HR) Director is multifaceted and involves overseeing various aspects of an organization’s human capital management. HR Directors play a strategic role in aligning human resources practices with the overall business strategy. They collaborate with senior leadership to align HR strategies with the organization’s overall goals and objectives.The average salary of a HR Director in India is INR 37 LPA.

Lead Data Scientist

The role of a Lead Data Scientist is a senior-level position that involves overseeing and guiding a team of data scientists to effectively leverage data for business insights and decision-making. Lead Data Scientists play a key role in developing and implementing data-driven strategies, ensuring the team’s productivity, and contributing to the overall success of data science initiatives. The average salary of a Lead Data Scientist in India is INR 29 LPA.

Brand Manager

A Brand Manager plays a crucial role in shaping and managing the perception of a brand in the market. Their responsibilities extend across various aspects of brand development, marketing strategy, and customer engagement. A Brand Manager develops and executes comprehensive brand strategies aligned with the overall business goals. The average salary of a Brand Manager in India is INR 18 LPA.

Read more: How to get an MBA degree without CAT?

Choose Online Manipal for your online MBA

Get an online MBA degree from a premium university like Manipal University Jaipur through Online Manipal. With 10-demand specializations, our online MBA degree comprises an industry-oriented curriculum taught by distinguished faculty members. MUJ’s online MBA degree will not only give you in-depth business knowledge, but will enable you to become a future-ready professional in the global workforce.

Read more: Will online MBA help you get a better salary?