With your MBA degree, you can expect to make more money. Right? Everyone knows that. With an MBA degree, you can:
- Ask boss for a raise or a promotion, because you’ll have new skills and knowledge to improve your worth to the company
- Seek a better-paying job in another company or even another industry that would probably have been closed to you without your MBA degree
- Apply your new business knowledge, skills, and contacts to start your own business and, with hard work and luck, make a fortune!
- The payoff varies from industry to industry and from job to job, but in most cases you can probably earn back the cost of your MBA degree within a few years after graduation. But the benefits of an MBA degree are not limited to money. What are some of the things you can expect from your MBA degree that can’t be measured in money?
An MBA Degree Lets You WorkiIn The Industry You Want
Whatever you’re doing now, have you ever wanted to hold a high-powered job in finance? Alternative energy? Aerospace? An MBA degree can open doors to jobs in industries that have always fascinated you, but where you have no work experience yet. How about getting out of the corporate rat-race altogether and doing something to help humanity, protect the environment, or aid the poor? Non-profit organizations have management needs just like corporations and banks, and an MBA degree can help you get a job running one that has a mission close to your heart. The number of possible jobs available with an MBA degree, and the range in types of job available with an MBA degree, is huge.
An MBA Degree Gives You Knowledge That Helps With Almost Everything
Stepping outside the job market altogether, consider what you’ll learn in the course of getting your MBA degree. Some of it is basic business knowledge and skills (accounting, marketing, business planning). That’s good to have a grasp of in most of life, not just on the job. Some of what you’ll learn in getting your MBA degree is even wider in application: leadership skills, people management skills, negotiating skills, the kind of hard-to-quantify knowledge that you need to run a big organisation full of human beings. No matter what you do in life, you’re going to have to deal with people. Now, it might not be worth spending all that money and time to get an MBA degree, if you don’t intend to seek a job that makes use of it. But isn’t the positive impact on the rest your life outside the workplace a nice bonus?
You’ll Meet Interesting, Helpful People as You Pursue Your MBA Degree
You’ve probably heard this before, but it still deserves emphasizing: as you go after your MBA degree, you’ll be in the company of others who are doing the same thing. These are all people of above-average intelligence. They’re creative and interesting. Most of them are business-focused and a lot of them will be focused on the area of business that most interests you. These will be great people to know on a lot of levels. Many of them will be good friends. Many will provide clients, investors, suppliers, and even partners for your company or the company you work for. As you pursue your MBA degree, the people you meet can be as important as the skills you gain and the knowledge you learn — maybe even more important!
Today managers are in great demand in every sector of economy. India needs a huge reservoir each year of people who are trained for business and for management and demands is to last for coming years. But it is matter of concern whether the demand is for what they have been taught. In management education, quality has become a necessity. To make India an intellectual capital of the world, we have to create a dynamic environment, which can encourage superior quality management education colleges and effort should be made to breathe life into management education.
Management education is going through changes. The changing scenario offers students more openings, greater self-confidence and out of the box ways to better hone their skills. The current trends include internationalisation with increased focus on international partnerships, international internships, student exchange programs, joint degrees etc. Also, the use of new technologies in management teaching is a trend that is catching up fast. Greater use of the social media to establish connection with students is on the rise.
More interdisciplinary offerings in classes, for example, where marketing, strategy and OM faculty come together to teach a course, are seen as the way forward because in real life situations most issues have multiple dimensions. Yet another trend doing the rounds is engaging students in games that simulate the need to find solutions to complex scenarios through teamwork. Hence, today’s student gives more importance to learning rather than placement. This new approach among students is both positive and enlightening.
The patron god of managers should be the ancient Greek sea-god, Proteus, from whom the word, protean comes to our vocabulary, meaning something that appears in different guises. Proteus was rumoured to be the son of Poseidon, the god of sea, but this was never proven. Proteus was the herdsman of sea, tending the flocks of dolphins, seals, and other inhabitants of the deep waters. He had god-given power to change himself into all manner of shapes: wolf, a leopard, a snake, a whale or even an olive tree. In this ability to transform himself he is like the successful manager who at different times may have to be: entrepreneur, merchant, administrator, decision-maker, organization builder, community leader, analyst, goal-setter, statistician, tactician, charismatic leader and raconteur.
Proteus had another gift from the gods which relates him to managers. If one could catch him when he was in one of his transformations, as a dolphin for example, and hold him until he resumed his god-like form, he was required to answer all questions. He knew everything: the past, present, and future. Many managers will testify that too often they are confused with Proteus and are expected to be able to display the same command of information. Hence a manager must have all the possible shades and should be ever ready to don any hat! An MBA from Oakbrook Business School will help you to nurture all these talents and more.
As business leaders try to navigate and rebuild economies savaged by the global meltdown, business schools around the world are rethinking leadership and how to train the next generation of managers in the midst of unprecedented challenges. It is not time to tweak what has been done before. It is a time for reinvention of management education.
The reinvention may well be led by India, where explosive growth in demand for management training has opened the door to massive growth and innovation in the business school sector. I heard firsthand many of the newest ideas and opportunities being discussed by the elite of Indian business schools, government officials, and corporate leaders in August in Delhi at a global conference called Rethinking & Rebooting Indian Management Education, and also had a chance to visit with individual deans and faculty from a diverse array of institutions.
India has a one-of-a-kind combination of location, culture, and demographics. Like a developing nation that skips the messy stage of telephone poles and patchworks of wires and goes straight to high-speed wireless, India has the opportunity and motivation to leverage the lessons learned by the Western world’s business schools, and create a management education system that will spur economic growth—and become the ultimate state-of-the-art laboratory for global business education innovation.
Some people view an MBA degree the same way that Charlie thought about his Golden Ticket in “Willy Wonka and the Chocolate Factory”: They believe a piece of paper can magically transport you to a place you only imagined. But can this addition to your résumé really be your dream ticket? Yes. No. Maybe. There are no simple answers, but here are ways that an MBA might help you. Let’s face it: If you had your pick between two candidates — one with a BBA and one with an MBA — who were both qualified for a job, wouldn’t you take the one with the higher degree?
Because of the recession’s affect on employment, many companies have a wealth of talent to pick from at the moment and some can afford to be choosy in their hiring. Candidates need to score every point possible, and a graduate degree may give…
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Studying for an MBA requires a huge investment of time, money and energy, so it is crucial to ensure your choice of programme and business school meets your needs. Before making your final choice, you should visit the campus to get a sense of the culture and atmosphere and to see whether you would fit in. Talk to students, professors who work in the industry you are aiming for.
If you’re not 100% sure what you want to focus on, that’s OK! Look for schools that have a strong general management program, so that you’ll get a firm grounding in the management and finance basics—skills you can apply to any post-b-school job. Discover more about the diversity and caliber of the faculty, plus their expertise and achievements. The following points will help you while opting for a bschool:
FACTORS TO CONSIDER WHEN CHOOSING A SCHOOL
- Does the school offer the…
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