Should I go for an MBA?

Many young people, when they come to know that I am an HR professional, ask me “Should I go for an MBA?” followed by some more related questions like “What is the scope after that?” or "Can you suggest me any other courses" etc .

I have tried my level best to honestly answer such queries but with experience I can tell that I have hardly satisfied anybody. This is not because I am not good at explaining things or I don’t know the facts, it is because this question is put forward with wrong mindset.

Let us understand the mental state of a person in question. This person is in the midst of his/her career planning. I have specifically mentioned the word midst because we Indians actually come to realize the importance of our career path only mid way. We can’t blame anybody for this because our generation is in the evolution stage and this evolution is so rapid that it tends to confuse the minds of even the wisest with the options at hand.

This is the generation that saw the gas stove, TV, Telephone, Mobile Phone, Computer, AC, Washing Machine, Car etc.  from being a rare commodity to an essential commodity while growing up. Every day we see a new advanced product in the market. We saw our parents retiring from their first jobs. We traversed as a family that was run happily with a meagre solo income of 8 – 10k per month to now a collective income of excess of 1 Lakh per month with the same worried lines on the forehead. I want to just portray here that this generation is going through a much mentally challenged state then any of its past generations. I think we all would agree to this fact that uncertainty is feared by all and today’s generation lives in midst of the most uncertain tomorrow. 

I don’t know in how many presentations, seminars, talk shows, we have been exemplified the names of Bill Gates, Dhirubhai Ambani, Warren Buffet, etc. with their stories from rags to riches without even having any significant degrees below their belt. But nobody has ever mentioned that why their company does then hires graduates with best degrees from the best colleges of the world. They were successful may be because they did not had any option or anything to lose and this made their 100 percent energy to be vested in their one track dream. 

Imagine a situation where you have the option of 4 tracks for the same finishing line and in another situation where you have the option of only one track. I can bet that at the end of the race most of us would be in a better position in the later situation. 

I think I have cleared myself in rendering you my opinion about the mental condition of the present generation youth. But it is also true that every generation has faced its own difficulties and have overcome and similarly this generation will also come up triumph. 

So what should be the best methods of career planning?

I can’t specifically and surely state the stage when you should start your career planning because it depends on so many different aspects that I can only say that whenever you yourself realize at any stage that yes, I need to plan my way ahead, is the right time. Before that no words will make any effect on your thinking. 

The first and the most important of the stage of career planning is your self assessment before looking at the options at disposal. It is important to assess your needs, your strong and weak points, your desires, your dreams, your skills, your personality etc. 

This means it is better to choose a career that will fit you rather than make yourself fit for a chosen career. I am saying this because at the start of every decade there will a change in the list of best careers available but your list of skills, personality, desires, values, aims can only upgrade but not change.

I will certainly cover this topic in detail in my future posts as I should not deviate myself  from directly answering the question about "Why an MBA?"

Why you should go for an MBA?

An MBA is not an end in itself, but a medium to an end. It is a degree that gives you an ability to develop your career to its fullest potential, at an accelerated pace. For example, for running an engine smoothly without any breakdown for a longer period of time we need proper servicing and lubrication. It acts as a catalyst which will propel you. So what will you get from an MBA? Aside a very rich life experience, it should supply you with three value propositions : Skills, Networks and Brand.

 Skills

These  are hard skills like finance, marketing, operations, accounting, management and economics as well as soft skills like leadership, teamwork, ethics, communication which are so critical for effective management. MBA Students acquire these skills in classrooms through classroom lectures and outside classrooms through assignments, projects, seminars and internships. Since MBA program attracts people from very diverse industries and culture, there should be a program to leverage this diversity into a learning experience.

Network

An MBA program gives you an excess to a network of MBA students, alumni, faculty, and business and community leaders. These networks are very useful in the beginning of your job search, developing your career path, building business relationships in your current field, pursuing expertise outside your current field. For example, MBA students and alumni are from various industries and sectors and hence your job prospects are widened when looking out for a job or moving ahead in your career path. This can help you throughout in your career movements. The network of faculty acts a the focal points for all these networks. Through these networks you can build upon your business relationships like entrepreneurs need access to investors, clients, vendors, suppliers for their business. Specific businesses like art related or technology related need funding and strategic management services in order to position themselves in the market. Global business needs access to local business culture in order to expand to other territories.

  Brand

An MBA degree is recognized brand for leadership and effective management training. The particular school or the type of program you attend also has brand association that can open doors for you in the job and business markets depending upon the reputation of the school you attend. The strength of the school brand depends on the program history, its ability to provide skills to students, opportunities for personal development, and the reach of its alumni and industry network. This brand can help you throughout your career development.

Now, it must help those seeking advise on their aspiration to go for an MBA, in making a decision in the right direction. The problem with this program is that it has been perceived in a very misappropriate way not only by the aspiring students but even by the industry experts and educationists. 

Myths or misconception going round about MBA

There are certain myths that are prevalent in the market regarding MBA programs and many have been spread by various beneficiaries. The most common that come to my mind are:-

Anybody can do an MBA 

Yes, it is a myth. Doing an MBA from a reputed school in a reputed program needs lot of hard work and focus. However, anyone can complete one of the many poor quality MBA programs available.

All MBA schools are good and all MBA programs are the same

Only a few MBA schools are reputed and have  good programs, faculty, brand, alumni and industry network. All MBA programs are not the same because while all accredited MBA programs teach the same principles and theories, their major and elective courses vary.

An MBA guarantees a career progression or a higher salary

It is true that an MBA certainly communicates that a certain level of expertise and knowledge can be expected from an MBA Graduate but it does not guarantee the progression in your career or a higher salary. It will again rely on your hard work and the use of the skills attained in your role.

Distance/ Correspondence MBA programs are as good as others

Learning is through experience and hard facts i.e. theories. A great part of MBA program is learning through classroom experiences and working in high performing team environment in outside classroom assignments which the Distance MBA programs certainly lack.

An MBA Guarantees a Management level Job

Possessing an MBA degree doesn't guarantee students a Management level positions straight out of college. They have to show their potential in entry level jobs before they can be considered for added responsibility.

MBA programs are expensive

MBA programs are expensive when compared to different other courses but the skills and knowledge it provides gives you ample opportunity to get the ROI rather quickly however education loans are available. It should be considered as an investment rather than an expense.


Experience is not necessary to go for an MBA

Highly regarded MBA programs use case studies to work through practical examples. Without practical experience the benefits from the practical case studies are nullified. Hence, having relevant experience and using that experience in  management studies will make you gain the most from the MBA programs.


Competent Business people don't need to go for an MBA

Self development is always highly regarded in professional circuit and nothing is better than going for an MBA to enhance one's business skills. You will hardly see anybody who has not gained from a good reputed MBA program.


It is not me or anybody else who has to answer or who can answer your question whether you should go for an MBA or rather for any higher studies, but you yourself. A senior, an experienced, a counselor can only guide or show you different pictures but it is you who has to choose what to leave and what to grab.

It is good to ask for advise from others but do ask in form of their experience don't let them judge your path as it is you who can do the best self assessment of yourself.

Never mind searching for who you are.  Search for the person you aspire to be.  

~Robert Brault,