The first question which often hovers in the minds of students after completing the Bachelor’s degree is whether or not to pursue an MBA program?
The very thought makes them count on the benefits one get by pursuing either a full time MBA or a distance MBA. Well, there are numerous benefits the MBA program offers to the aspirants right from better career prospects to personal growth and skills development.
With the world currently engulfed in the hands of the pandemic named Covid-19, the students have turned skeptical about prospects of pursuing an MBA program. However, it is expected as per the hiring projections that the demand for MBA graduates is expected to rebound the next year i.e. 2021. Although, like any other qualification, MBA is also not immune when we talk about the impact of covid 19, however, the employers have showcased confidence with regard to the skills an MBA graduate brings to the table when he/she joins an organisation.
Now, coming back to the question why MBA in 2021? The students these days feel lack of clarity when it comes to expectation from an MBA degree and many often end up doing MBA, because others are doing. Hence, the students should really understand the purpose behind doing an MBA program rather than simply jumping on the bandwagon.
Here are the top 10 reasons for pursuing an MBA program in 2021:
Exponential career growth
An MBA degree opens doors for promotions in the long run. Each and every company these days handpick candidates who have completed a full time MBA or a distance MBA course or are currently pursuing an online MBA program. This is because having an MBA degree equips the candidate with the required knowledge needed to head the various managerial roles. Hence, with an MBA degree in place, the career gets a kick start.
High salary potential
As per the statistics, there is a huge difference in terms of salaries being paid to an individual having an MBA degree in comparison to those who are simply graduates or are having other post graduate degrees. Be it a full time MBA or a distance MBA graduate, they are bound to be compensated better and heavily in comparison to others. This holds true for appointment of MBA graduates in both public and private sectors. Thus, an MBA degree can enhance the salary potential to a great extent.
Entry and growth barriers
Decades back, having an MBA degree was considered as an added qualification, but with the growing time, the blue chip and branded organisations have made it mandatory for entrants to have an MBA degree, even an online MBA program to secure a job position. Also, having an MBA degree serves as an added weapon for candidates being considered for further promotions to higher positions in the long run. In a sense, the corporate structure these days is being run by the army of MBA professionals. Thus, be it immediate placements or long term professional growth, everything is dependent upon a degree of MBA program.
Development of management skills
The offline or online MBA program aids the students to leave their shell and develop the much needed management skills which are required for working effectively and efficiently in an organisation and secure a job position. There is a considerable development of skills such as networking skills, communication skills, management skills, advertising skills and leadership skills. During their full time MBA or a distance MBA course, they are taught on how to work under circumstances of extreme pressure and when and how to take right decisions at the right time.
MBA specializations fit to one’s goals
The MBA programs are so well defined these days that they make the students do specializations in a particular aspect of the business world. There is a huge range of MBA specialisations for an individual to choose from and each one of them is different from each other, but all of them have a huge demand to their credit. The various specializations available are general management, international business, finance, human resource management, international business, strategic planning. IT management, marketing, entrepreneurship, Human resources, operations management and consulting.
Launching of own business
There are some individuals who enroll in an online MBA, full time MBA or a distance MBA program to enable themselves to better perform their job duties, they are few who pursue the degree for starting their own business. With an MBA degree in hand, it becomes easier to reflect one’s goals and uniquely position the upcoming business.
Inter sector transition
Transition to a new sector becomes a lot easier and simpler with an MBA degree in hand. Irrespective of it being a financial service sector, consulting or business analytics or operations management, the transition is always way smoother. An MBA degree customizes the learning of the individuals through specializations and aids in exploring new business areas and competencies.
Expansion of network
An MBA is considered as a desirable degree because it helps the candidates to meet like minded and successful professionals who not only become a source of inspiration, but also a guiding source. The crucial connections help in becoming a great business leader with the presence of every short and long term business opportunity.
Knowledge development
This is another valid reason for enrolling into a full time MBA or a distance MBA program. The start of the business program makes the students aware with concepts related to career management followed by electives and specialisations which further enhances the knowledge bank of the candidate. Thus, the holistic foundation of the business discipline is developed in the students which can help them lead a better and stable career ahead.
Flexibility
The best aspect related to pursuing an MBA program is the availability of flexibility in terms of options such as full time MBA or a distance MBA or an online MBA. Thus, the students can enhance their career with MBA degree without leaving their current employment. Also, with the option of online MBA, the students can attend the lectures at their ease without being stressed.