What are the pros and cons of going for an MBA?
An MBA is the most pursued master’s program in India. It gives you the opportunity to lead a fruitful career in specializations such as finance, marketing and operations, which are vital for the functionality of an organization. Moreover, MBA graduates have the guarantee of job security, which puts them in a relaxed state of mind for their future.
However, every course has its pros and cons, and an MBA is no different. Hence, before appearing for MBA entrance exams like SNAP Exam 2019, here are the pros and cons of pursuing an MBA that you must know.
Pros
- Builds your business acumen
An MBA program will educate you about business principles from every domain, which will give you a holistic understanding of how organizations function. Thus, an MBA will drastically improve your business acumen and make you competent in any management role. Moreover, succeeding in an MBA will require tenacity and self-discipline from you. These are qualities all business owners look out for in their employees. Overall, an MBA will take you places in the business world.
- Expands your networking potential
While studying your MBA, you will make friends with your classmates and students from other batches. You will also interact with your professors and exchange ideas regarding your specializations. By fostering such relationships, you will expand your professional network, and enjoy meeting more of such like-minded, business-oriented, and driven individuals. You might also receive exciting work opportunities through recommendations from your professors or your peers. Thus, good networking can take your career to the next level.
- Improves your communication skills
To thrive in a business environment, you must concisely communicate your ideas. Whether it’s in a public forum or in a private meeting, you must show clarity in your speech and thought process. Hence, MBA programs have included a public speaking class in their curriculum. In this class, you will have to present your ideas and projects to your peers and professors. This activity will help you develop your confidence in communication, and transform you into an excellent orator.
- Teaches you self-discipline
After getting admission in an MBA program, you will be solely responsible for your planning, studying, and submission of your projects. To do well in these aspects, your self-discipline should be your driving force. It will help you complete these tasks on time, and do them well.
Being consistently disciplined in your work will help you become more confident in your abilities by the time you finish the program.
- Builds a platform for entrepreneurship
The first year of your MBA will familiarize you with many business aspects, including economic decision-making and marketing principles before you pursue your specialization. It will help you set up for a career in entrepreneurship, as an MBA will teach you the intricacies of leading an organization.
Cons
- Program cost
While an MBA is undoubtedly beneficial for your career, the course is expensive. The average fee of an Indian B-school is around INR 7-10 lacs for two years. If the B-school ranks amongst the best MBA institutions in the country, the fee can shoot up to INR 14-20 lacs for two years. Therefore, you must pursue an MBA from a college that is worth the substantial financial investment. It will help secure a good placement in a top company, which will help you pay off your loans quickly.
- Program quality
India is home to more than 3,000 business schools, with over 150,000 students graduating every year. However, not everyone gets the top jobs. It is because the quality of your MBA program matters in the eyes of your prospective employee. Therefore, pursue an MBA program from a reputed and accredited program, like an MBA from Symbiosis.
- Income sacrifice
Pursuing an MBA would mean quitting your job for two years and loss of steady income. It would require immense patience from your go back to the student life one more time. However, every dark cloud has a silver lining. You will fetch a summer internship, where you will be paid well for two months, before getting placed at the end of the program.
The pros and cons will help you make an informed decision before appearing for an upcoming MBA entrance exam, or joining a B-school like Symbiosis admission. All the best!
