In recent times, an MBA degree has become imperative for aspiring managers to ensure a promising career in the growing competitive and demanding market. For students having career goals for MBA opens them up to a myriad of job opportunities that sometimes goes beyond the technical skills and training of an individual and comes as essential to powerup your self-confidence, communications, and decision-making skills. Such all-round growth possibilities have made MBA as one of the most prestigious and coveted post-graduate programs recently that is accredited globally.
However, it is essential to note that having just an MBA can prove to be futile in terms of bringing value into your career. It’s necessary to set career goals before pursuing the degree since different purposes can come with its distinct predefined path and honing different skills. With the right set goal, the degree can help you attain credibility in the market, keeping you aware of the relevant industry trends and discerning tasks based on priority. A neat example can be that of:
If there are two candidates for the role of a product manager, each with their own experience and MBA degree, the employer will go with the candidate having a deeper understanding of the company’s role, products, relevance in the current market. It would be best if you had well-researched, informative solutions, or product improvements that can give an edge to the enterprise to that of its competitors in the market.
Such exposure can only come to a candidate when the scope of a job opportunity comes well within their strengths, technical skills, and industry experience. Unlike popular belief, not every MBA degree holder is deemed fit to be a product manager in large corporations, especially when it wasn’t something you’d prepared to be right from the beginning.
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What’s in it for you?
For a candidate setting MBA career goals and labeling them as short-term and long-term based on its relevance, it helps candidates to attain those one at a time. People often perceive the MBA degree as an instrument to multiply salaries into one’s career, but in reality, it brings a lot more responsibilities in terms of understanding how businesses work in the ever-changing market. The moment you set your own goals, you’re handpicking your industry (needless to say its challenges and rewards).
An example of the same can be starting as a fresher in management consulting and learning from client engagement strategies to network and devise custom-strategies that can help aspiring students and clients leverage most of the financial services industry in value, investment, and learning.
Read: Career Options for MBA
Here are some of the long-term benefits of pursuing an MBA in terms of acquiring career goals:
How MBA Helps You Acquiting Career Goals
1. Build advanced, robust management skills
It is the primary objective of every MBA professional to ensure proper skills development in an organization to keep it up to the industry standards.
Therefore, without adequate competence, you won’t be able to deliver your best in your role:
- Develop essential leadership and management skills
- Devise, promote, and sell your products and services
- Connect and build networks for successful partnerships and collaborations
- Provide helpful solutions during the crisis, essential to the company’s revival
- Ensuring constant revenue flow and maintaining brand reputation
- Collate and curate targetted reports
- Hiring talent and provide employee skill growth
2. Choose from multiple specializations as per your goals
There are many new, vast MBA programs in numerous industries and focus areas that you can contribute, being an active member of the business world. Some of the most in-demand MBA spaces are:
- Digital Finance and Banking: It is apt for bankers, finance experts, and enthusiasts with multiple overtones of Data Analysis, Statistics.
- Marketing: If you’re someone who has always dreamt of providing unique products/services to customers in the market, you can learn more about promoting products in real-time
- Entrepreneurship: Popular in the startup culture for its meaning.
- General Management: It is essential for building and maintaining a healthy business scenario online.
- IT Management: One of the most popular specializations currently as with newer technology comes innovative product ideas and data analysis and research.
- Operations: Suitable for managers in charge of the production line and seamless working of all departments in an organization.
- Human Resources: Completely focussed on maintaining employees’ growth, the value in their work, team development, conflict resolution, and more.
- Consulting: Useful for candidates willing to have expertise across multiple industries and provide counsel to clients and companies to handle conflicts or problems.
3. Access Extensive Business Network
One of the most important aspects of having an MBA degree is the vast network opportunities it brings across several industries and helps you learn better about the business world. It may help you connect, reach out to global leaders, breakdown their working methodologies to learn, and adapt accordingly. You can also work closely with professionals around the world and contribute richly with your helpful insights to the issue at hand.
4. Building a Strategic Thinking Approach
For providing real-time solutions, an MBA degree would teach you to equip yourself for advanced decision-making abilities and get better at weighing numerous options for fixing a problem.
Checkout: Best Online MBA Courses in India
5. Deeper Understanding of Businesses
The first thing that an MBA degree would help you learn is to have a broader understanding of business fundamentals that remain the same across industries and the industry-specific aspects of running an organization in the marketing, advertising, administration, finance, accounting, and other domains.
6. Open To Promising Opportunities
For an industry fresher, MBA helps to have the much-needed headstart to excel in their career by working entirely in crucial administrative and managerial roles in an enterprise. With years of experience, such candidates can gradually reach the top-most positions of the world’s most sought-after brands and corporations.
7. Increasing Demand and High-Paying Career Switches
Estimated figures show that the demand for skillful, experienced MBA professionals will only grow in the coming times. Thus MBA professionals can have easy career switches because of the value the MBA degree holds and the extensive knowledge it provides. Compared to any other masters’ degree, MBA holders can find meaningful opportunities across various industries and even set up their very own businesses from scratch.
Read more: MBA Salary in India
MBA is a ride way out of one’s comfort zone, only to find the perfect balance between chaos and control. While having a successful career for an MBA professional is tricky in its own way, but it sure makes the individual better aware of the dynamic market, the rigorous competition of the corporate world, and the need to cater to growing demands by the general mass.
If you are keen on upgrading your career with an MBA Degree, upGrad is offering an MBA in Digital Finance & Banking in collaboration with the Jindal Global Business School and the Jindal School of Banking & Finance. The program has been designed to Future-oriented content suited for those working in or aspiring to work in finance across domains. Be a JGU alumnus and take advantage of continued engagement and networking with the world of academia, policy, and industry
Is an MBA a good idea?
Certainly. An MBA is an excellent course to pursue, especially if you pursue it full-time from a reputed b-school. An MBA helps you progress in your career by training you with important managerial skills which are crucial once you move up the corporate ladder. A lot of people see an MBA as a short-cut in the corporate world. However, there are certain advantages which MBA graduates have over all others. This includes managerial skills, business strategy acumen, analytical skills as well as the required communication skills. An MBA will also help one boost up their income and watch it rise exponentially over a period of 7-10 years.
Is it necessary to have work experience to do an MBA?
Most b-schools do not require work experience to admit MBA aspirants. Freshers may also be able to apply, provided they match the required academic criteria and have successfully cleared the required entrance exams, group discussions and personal interview rounds. However, certain global MBA programs and executive MBA programs prefer students with work experience. The same also applies if you are planning to pursue your MBA abroad from an international university. This is because these programs are different from the usual curriculum, and aim to help students to develop strategic capabilities which are required for an international career and senior leadership.
What are the advantages of a full-time MBA?
A full-time MBA offers several advantages when compared to a long distance or a part-time course. Firstly, freshers are eligible to attend full time MBA courses from most Indian b-schools. Secondly, since you will be attending the course from within the institute’s campus, you will be able to put in your 100% towards the course and immerse yourself in the coursework. A full-time MBA puts students through intensive coursework involving written exams twice per trimester, weekly assignments, group and individual projects. Most importantly, you will be spending 1-2 years on campus with your peers and have the opportunity to forge strong networks.