MBA stands for Master of Business Administration. The degree focuses on practical and theoretical learning to help learners better figure out the general elements of business administration. Owing to its popularity among employers, MBA is that degree which every student wants to get for themselves. Employers keenly look for MBA graduates to handle their company. Those in management roles pursue MBA to further their career opportunities. Students learn overall perspectives on business across areas like advertising, finance, and accounts which further help them become team leaders and entrepreneurs.
MBA programmes differ according to an individual’s experience, as some MBA programmes acknowledge a bachelor’s degree without professional expertise. Still, professional MBA and executive MBA programmes need certain years of experience. Professional MBA programmes expect candidates to have two to four years of work experience. In contrast, executive MBA programmes focus on senior-level administration positions requiring five or more years of experience in the industry.
When is an MBA worth the investment?
As mentioned above, choosing an MBA after working in the industry might give you a big picture of your interests to know which specialisation is beneficial to you. It will be an advantage to you while pursuing an MBA if you have already understood the dynamics of the competitive business world. The entrance exam for an MBA gives an idea to students whether they are capable of it or not. Therefore an MBA is worth the investment for working professionals.
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Is an MBA worth it in 2022?
Business in India has been affected by the global pandemic. Covid-19 has slowed down the growth despite having a competitive market. MNCs and big companies keep an eye on MBA graduates as there is an increased need to uplift the industries’ profit. “When thinking about the skills and experience required to help organisations and industries rebuild after an event like COVID-19, it makes sense that employers are expressing a desire to hire more MBA and business master’s graduates,” said Sangeet Chowfla, president and chief executive officer of the Graduate Management Admission Council (GMAC). Therefore, candidates considering an MBA should not think twice and consider it a worthy investment in 2022.
Salary and job prospects for MBA graduates
The salary of an MBA graduate in India is between INR 5,00,000 and 20,00,000 per annum. The average MBA salary in India ranges from INR 3,00,000 to INR 9,00,000 per annum for freshers. For experienced workers with one to three years of professional experience, one can expect between INR 5,00,000 – 19,00,000 per annum.
The availability of MBA jobs relies upon the specialisation picked by the students while concentrating on MBA. Every MBA specialisation offers a different package, and the students must select the field carefully. Amazon, Apple, BCG, Deloitte, JP Morgan, Microsoft, Morgan Stanley, and others are among the top worldwide recruiters of MBA graduates. Top Indian organisations include Tata Consultancy Services, Reliance, Cognizant, Wipro, ICICI Bank, etc. Organisations paying the highest salary for MBA occupations in India are Deloitte, Boston Consulting, Citibank, HSBC, Citibank, HSBC, etc.
MBA pros and cons
The number of MBA graduates keeps on increasing due to the changing demands of the recruiters. However, MBA remains one of the most chosen and accessible options for students. The salary package attracts most of them, but the two sides of the same coin apply to MBA too. Let’s look into these pros and cons:
Benefits of an MBA degree
- Expanding career opportunities motivates MBA students: Specialisation in MBA programs opens numerous options to students. The practical and theoretical learning of business aspects gives scope to take jobs according to their choice. Students pick MBA because they know they will get higher positions and also have the liberty to change their profession.
- MBA individuals earn a higher salary package due to their degrees: An attractive salary package is another benefit of pursuing an MBA. After completing the degree, the salary is far higher than an ordinary master’s certification holder. Students earn two times as much as anybody with a conventional college degree.
- MBA graduates use their degree to determine career goals: Many students, who change their career goals after a generalised bachelor’s degree, and to work in a field of their interest, choose an MBA to prosper in their professional lives. Other than that, most MBA graduates decide to enter specifically an industry following their graduation. People with this degree can enter any field because of their capability and skills. The course is worth the investment also for those who want to be entrepreneurs and start a business.
- MBA fuels your professional network: During the course, you get to know many people and professors who specialise in specific fields, which can further help you grow your business and professional growth.
- Instils entrepreneur abilities: Not everyone would be interested in doing a job; some may wish to explore using their skills independently. MBA gives a chance to candidates who wish to start their own business. Some individuals who pursue an MBA are aspiring business people who need to acquire useful business abilities. The skills and information from an MBA program can be priceless while setting up and dealing with your organisation. You can plan, execute and make strategies for your business using those acquired skills.
Cons of pursuing an MBA
- Cost of pursuing an MBA: Pursuing an MBA degree is a relatively massive expense for most people. The course expense could go upwards of INR 20,00,000, which is a substantial monetary commitment. An online MBA course is comparatively less expensive than a regular MBA. So if you’re trying to save costs while also opting for a career upgrade, an online MBA is the perfect choice.
- The time commitment for an MBA degree: An MBA programme is a two-year programme and people are often not ready to spend that time on further studies after their bachelor’s degree. So, instead, you can enrol in an online MBA programme, which will give you the flexibility to take up the course in your time frame. You can also study the course while working part-time or full-time, thus, helping you expand your skills without cutting down your earnings.
- Higher focus on specialised skills: When someone pursues an MBA with specialisation in a specific area of study, there is always the risk of not being able to think outside the box. On the flipside, you can always use your specialised skills to gain a competitive edge at the workplace and prove that no one does the job better than you do.
- You’re solely responsible for a guaranteed return on investment: Like any other degree, an MBA course needs a student’s complete engagement and commitment and choose in-demand specialisation. You can ensure a guaranteed return on investment if you find a career in the right industry or company by demonstrating your skills and domain knowledge. Thus, your success depends completely on your personal growth and how well you grasp required skills and put them to practical use.
Do the pros outweigh the cons?
Yes, the pros outweigh the cons. Everything has its disadvantages but learning the skills to work in top-notch industries needs your hard work and time. You can flip all your coins into the pros after the successful completion of your programme.
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. Now, many programmes are delivered online and their adoption is commendable due to the flexibility and convenience online learning provides. The following are some of the benefits of pursuing an MBA online:
- Affordable: Online mode is the most flexible for students. It does not cost much to do a professional course.
- Remote learning: You can plan your study according to your need. Remote learning 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.
- There is no need to leave your job: The benefit of doing an online MBA in India is no need to leave your job. You can have a part-time MBA experience, and a key aspect is that you can apply your learnings in the current job you are doing. An MBA for working professionals is necessary to scale up their paycheck and move up the career ladder.
- Get upskilled with professional certifications: Get a professional certificate with proper instruction from highly qualified professionals.
- Assured return on investments: Full-time MBA does not assure you the ROI, but you are paying less for the education and earning more with an online MBA.
Why Online MBA? Is it wise to get an online MBA degree in India?
UGC (University Grants Commission) recognised online MBA courses. Students learn all the aspects of business administration and management and are greatly valued by top organisations if they graduate from an accredited institution. You can get jobs in the private and government sectors with a fair salary package.
Get an online MBA degree from Online Manipal
The demand for an online MBA degree in the Indian market enables students to learn at their convenience. You can join the online course at Online Manipal at a reasonable price from the prestigious Manipal University Jaipur. The online MBA programme costs INR 1,50,000 for the full period, of which INR 37,500 is for each semester. MUJ’s professors are the best in their field and teach with different methods so that students should not face any problems in the real world. The certification by the Manipal University Jaipur opens the door for the students to get good positions in top organisations.
MBA comes as an essential programme for each working professional. Regardless of changes, the industry needs MBA graduates to be compatible with the changing trends. The more MBA qualified people enter the business world, the more secure a place it will be for the upcoming generation. Get enrolled yourself in the best online MBA program in India and secure your future.