Management education is still considered to be one of the most sought-after degrees almost a quarter million students participate in Management Entrance Examination CAT every year in India Alone. While we all know a better career prospect, better learning opportunities, and an anticipated chance to work with worlds best corporate houses are among few things which attract these aspirants towards fight for coveted seats in reputed institutes, but we have also seen that not all management students get all the perks perceived to be associated with MBA education. Some students dose not even get a job after completing the MBA, some lands @ mediocre jobs at below average salaries. So, let’s dive into the question that how useful an MBA program is OR a PGDM degree for an average student.
PROS of an Post graduate Management Degree/Diploma
An MBA / PGDM Program prepares students for corporate managerial roles or leadership positions, where they not only get to learn about best management practices but also get benefitted from influential alumni networks, best courseware and teaching faculties & top of the class learning environment. All this result in grooming candidates into world class business leaders who can tackle business problems more efficiently and more holistically.
Salary is another pros for an MBA degree holder, They generally command a better pay package then their counter parts who doesn’t posses a management Degree. However, this stand true to start years of ones career as in modern corporate world growth on the corporate ladder totally depends on performance, and ability to deliver results. The more you deliver the more you grow faster.
If you notice and MBA coursework you will find that Course prepares you for most of the departments from sales & marketing to finance & Accounting, from Operations management to Human resources, an aspirants becomes a jack of all trades which also gives them a array of wide spread opportunity in various departments of company. One can find MBA in any department of a large organisation. Opportunities across business verticals is another perk of having a MBA degree.
MBAs are considered to be better problem solver and people who have this skill can grow really fast and can have a very secure career path. Job security is a very sought-after quality in today’s competitive and volatile world. At managerial positions job security is good compared to other entry level jobs. This is another factor which make MBA degree a go to Degree. Apart from above mentioned factors a low entry hurdle is also a reason to make MBA degrees so popular, I mean an engineer, a doctor, a chemist or an art graduate can peruse a MBA degree where as other specialisation requires base degree in same discipline. For example a MBBS only can pursue an MD. Or a B.Tech Graduate can only appear for M. Tech Admissions.
Lets also talk about
CONS of a management Degree/Diploma
Two MBA degrees are only comparable if they are achieved from same category of institutes. The quantity of universities, colleges, and business colleges that offer MBAs is expanding, making the space exceedingly swarmed. Except if an aspirant acquires a degree from a decent program, it probably will not be pretty much as significant true to form. HR Managers & recruiting supervisors are not likely to see a MBA procured from an obscure or “online only” to hold a similar Weight as from a best 10 B-schools. For some unfortunate students a management degree Diploma earned from third-level school could wind up burning through their time, cash, and opportunity. I do not mean they will be useless but only intention is to state that their ROI will not be the same as alumnus of TOP B-Schools.
But we have seen some very capable corporate Leaders, Founders, and Business leaders coming out from not so very renowned B-Schools, infect some of them are college dropouts. This holds true in both Indian as well as Global Context.
All in all we can conclude that ability to perform, Go-Getter attitude, decision making capabilities and will to succeed are the most sought after qualities and if you use your MBA study time properly its more likely that you succeed developing these qualities and thus getting perks of Being and <MBA but if you do not posses mentioned qualities at the end of the course then a MBA degree from world’s top management Institute can not do any good for you.
All the best.