What is the Advantage of Being an MBA?
Going back to the old days having a graduate degree was considered a big achievement in itself. This mindset dominated for long however talking in the current context and tough market conditions, only one degree isn't enough to get your dream job. An MBA degree seems to be an apt solution to make your resume stand out from the rest of the crowd and add wings to your career growth. Attachment of an MBA tag or program today have a value proposition understood by everyone. The education industry has undergone a major transformation for the number of oppurtunities it offers to students allowing each one to pursue the career of their choice which is close to their respective aptitudes and interests. The number of people applying for MBA programs comprising of national as well as MBA international programs are from two to one year mba programs. The employers look for differentiators when they are look out for talent. And possessing an additional degree is a definite differentiator. Secondly, given the unprecedented decline in availability of jobs for fresh candidates due to the global slowdown, students see this time as a great opportunity to hone their existing skills or even add a few. And having an MBA degree in addition to your regular ones is certainly the way forward.
Does an MBA Degree ensures a job especially in the current economic upheaval?
Placements for MBA graduates from premier institutes continue to be quite attractive even now. However on account of the downturn, companies are forced to tighten their budget and the number of available jobs continues to shrink with firms starting to get more selective in terms of where they hire from. The MBA tag alone does not bring with it any guarantee of a job; where one gets the degree from is also a factor that influences the decision making process of the employer.
An MBA degree ensures the employer of the candidate of having a basic level of competency. The slowdown has affected all job opportunities at different levels, and it has affected students with MBA degrees too. However, the impact is not as high, as by and large, more MBA graduates do have a job offer as compared to a student with a bachelors' degree alone.
However, is the slowdown a good time to quit the job and go in for higher education?
Going for a higher education anytime is a wise decision, irrespective of the ongoing slowdown and is a practical approach that will bear positive results in the future. When the economy is booming, people who are already working may be too busy to think about getting a degree or going to a technical school, but when the economy is slow and people are re-evaluating their priorities, education, especially in terms of an extra degree does hold a lot of significance and becomes a consideration. However, one needs to evaluate his/her priorities, for example, family life, age, financial status, etc. to take this kind of a decision.
Why the upsurge in enrollments?
For starters, a tougher job market forces people to strengthen their resume. Slower growth within the ranks in their organisations during a downturn also means that there is a lower perceived opportunity cost of taking two years off to pursue an MBA. As the job market becomes tougher, an MBA allows one to differentiate themselves from the crowd. It always helps to add to one's skills, irrespective of what career stage s/he is in. However, skills can be added while working on-the-job, or through a formal, full-time program. If given a choice, it makes more sense to earn-while-you-learn.
While an MBA is certainly a differentiator in today's job market, a degree alone does not ensure accelerated career growth. Some of the ingredients for a successful career continue to remain constant: a go-getter attitude, excellent team management skills, and most importantly, one's ability to innovate. Today's job market demands professionals with abilities beyond just the knowledge of the subject and an MBA degree is certainly the way forward. Distance Learning MBA Programs from reputed institutes are also gaining importance. There are also part time classroom courses available in case one is reluctant to leave his current job status to pursue higher studies. Why is an MBA degree important?
MBA as an education - makes one understand the language of business.
MBA as a degree - makes one equip with enough analytical skills to be able to take appropriate decisions.
MBA as a career decision - fosters excellent career growth opportunities.
Ideally, the benefits that one can derive from an MBA education is much higher when the student has prior work experience.