When it comes to choosing the right management program, students
often face the confusion of choosing either a masters or an MBA program.
- MBA programs typically demand work experience of 5 or 6 years. These are generally for those who are already in a management position, with a team working under them, and are looking to climb up the corporate ladder. For individuals who fall under this category who know how to manage budgets and people, MBA programs are the right study option.
- The Masters in Management, however, is for freshers and students with no experience in the field. Generally for those who have completed an undergraduate degree and have a year or two of experience, the Masters in Management is the right choice. This will give them ground standing in the area he chooses and is more specific and technical in nature. On completion, students may work in senior positions but these won’t fetch them promotions to top managerial roles. For reaching these kind of positions, MBA is required. After completion of the masters, students are suggested to work and acquire 4- 5 years of experience and then go for an MBA program.
1. Kick-start your career
Having an MBA degree in your 20s or early 30s, before you have carved too deep a career, is a great way to utilise your sharp and youthful brain, as well as your still lavish amount of free time. If you are targeting the corporate world to start and develop your career, business school is the right place for you.
2. Change the course of your career
This is the most common reason why people choose to take on an MBA. It has indeed been shown to be an almost foolproof strategy, as more often than not a business degree provides a number of assets in that direction: it allows you to immerse yourself for one or two years in a totally new environment where you think, sleep, dream, and devise strategies for your new field of expertise, 24/7. You will have access to case studies to prepare for your new career, sometimes more useful than one or two years of actual experience in the field. If you choose a top school, you will be visible to business scouts as soon as you have completed half of your studies. Surveys show that the top business school alumni manage to secure a job before the end of their studies. You may want to look at some career placement statistics available online as well as from the various schools, statistics that provide information on the salary prospects of MBA graduates, as well as the chances of finding a job within certain periods of time both before and after graduation. Such information is usually readily available either on the schools’ websites or from their admission offices. Among other valuable information, you will also be able to see how many graduates have found placements within your industry of interest.
3. Become business savvy
Being successful in business is dependent on many things, including good luck. Still, there are some very technical and hands-on techniques that are crucial and usually take years of experience and bitter trial-and-error to muster. An MBA programme really can spare you a load of headaches in that department. Learning from others’ successes and mistakes is valuable beyond calculation. Think of it as precious advice from very fancy lawyers, bankers and financial advisors. Programmes based on case studies offer just that: the opportunity to tap into the hard-earned success (or failure, for that matter) stories of hundreds before you who have left their mark on the world of business. Again, if you are currently practising in the humanitarian field, you are teacher, a lawyer, a creative type, or hold a less commercial position within a very commercial company, etc., it is only natural that you might be lacking purely business skills. Then an MBA is right for you. Make a practical choice: select a programme where you will be able to achieve just those skills. You need results more than you need student vibe and pretty campuses. Go and learn how business really is made, now.
4. Expand your network
Joining an MBA programme, you will be spending your busy days with other ambitious and intense personalities who may end up being your business partners, competitors, employers, lawyers, accountants, suppliers, etc. They in turn may provide you with access to their own networks of valuable individuals. A Full-time MBA will be the best time in your life to build some of your most enduring and valuable contacts in business as well as some of your best friendships. In order to make the most of the programme then, you need to think of a good location and an appropriate size. If you are in the banking sector, then focusing on an MBA in a bank-intense region would be key, as ultimately it would attract similar types who could form a strong, consistent and prolific network. It would hardly be practical to join a school known for its successes in the pharmaceutical industry.
5. Last but not least: “To thine ownself be true”. (Shakespeare)
You are talking of one or two years of your life and your youth. Make sure you use them well. Follow your instincts and choose a place that you feel will suit you. If you wish to challenge yourself and test your limits, that’s fantastic. Go for it. If not however, don’t go counter to yourself. If you are the quiet, focused type, maybe a smaller programme with a more intimate environment would be a better fit for you. If you are expansive and larger than life, make sure your school reflects that too. Be pro-active and study your options. May this be the most informed decision of your life. It is well worth the effort.
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