Getting an MBA degree is a sure-shot way of professionals leading to their dream job, or future entrepreneurs finding their dream jobs. Getting enrolled in one of the leading MBA campuses in the world can enhance your skillset and train you for all the leadership opportunities for management roles that the future beholds. However, all of this comes with a hefty price, unless you get into CAT coaching and back up your studies with a decent scholarship.
On the other hand, we witness people with little or no business experience making it big in the startup ecosystem. It does sound like a fairytale now, doesn’t it? One cannot help but ponder the significance of an MBA considering the present scenarios. The truth be told, the relevance of MBA has become more than ever, especially after the pandemic year. Let us understand how.
Did you know? Melinda Gates, the sixth most powerful woman in the world is transforming human lives with her business acumen. Over the years, the world has witnessed visions of this ambitious lady driving the world with her high spirits. Did you know that she received her MBA degree from Fuqua School of business?
What is the Scope of MBA in 2021?
Source: Franklin University
Whether you’re an aspiring entrepreneur, successful manager, or a recent graduate, CAT 2021 can be a big step for your career. It can help you enhance your job prospects or increase the chances of a promotion at the workplace. You can either land a high salary, develop an immensely professional network, or be your own boss.
While MBA is always a go-to option to establish one’s expertise in the field of business, the current market scenario is pushing us to question MBA degrees considering the substantial monetary investment required. But, even in the post-COVID world where technological adoption is accelerating, management skills are quintessential to long-term career success.
Only those positions are secure which cannot be automated or outsourced to a third-party platform. Managerial positions or entrepreneurs in residence are such a category of career prospects and require a high level of interpersonal skills, emotional intelligence, and hands-on industry experience. That’s where an MBA degree can help you reach your goal. Overall, 2 in 3 MBA programs reported an increase in applications in the past year.
Moreover, with the economy slowing down, there is an urgent need for people who have graduated from reputed management courses. Candidates want to fend off the age of recession by enhancing their credentials and capitalizing on emerging business opportunities. As compared to the previous years, several programs saw a growth in their applications which clearly indicates the scope of MBA is increasing in 2021 and beyond.
To boost your MBA dreams, here are the top 10 reasons for pursuing an MBA program, which becomes easy by enrolling in a helpful online CAT coaching.
1. Develop Leadership and Management Skills
Statistics suggest that as many as 61 percent of the candidates want to pursue an MBA to secure a leadership position in a reputed company. Undoubtedly, the best MBA programs give you the opportunity to develop professional management skills as well as a leadership quality.
Courses taught in the MBA can help you develop the necessary skills required for managing a company and coming up with strategies to take it forward. Some of the other professional skills you develop include advertisement to sell products and services, networking, and finance management. Pursuing an MBA course helps you get out of your comfort zone and prepare for the challenges of a business.
2. Become a Specialized Professional
MBA courses are popular all across the world and many schools have come up with specializations. This means depending upon your interest in business operations, you can pursue an MBA degree of your choice. For example, some of the top management courses are offered in general management, international business, strategic management, finance, marketing, entrepreneurship, operations management, IT management, human resources, consulting, etc. Apart from this, several MBAs offer dual specializations, helping you enhance your skills for the market and jobs.
3. Grow your Networking Opportunities
Being an MBA student gives you access to an extensive business network. You develop plenty of networking opportunities as you interact with fellow students, teaching staff, and professors. Moreover, an MBA degree also gives you instant access to the alumni network with excellent management experience. It proves to be an incredible opportunity to grow your network and connections globally!
4. Brace Yourself for a High Salary
One of the obvious advantages of pursuing MBA programs is getting one of the highest salaries in the market. Job security and high salary are one of the perks of an MBA that makes most people pursue this course.
Employees with a master’s degree in business administration have a much higher salary package than someone with any other Master’s degree. That’s why more than 47 percent of the candidates pursue MBA. Some of the popular jobs available for MBA candidates are business operations manager, top executive, market research analyst, HR manager, management catalyst, etc.
5. Enhance your Entrepreneurial Abilities
Boost your entrepreneurial dreams with management skills by learning resource allocation, taking care of finances, and hiring the right people. When you’re pursuing an MBA degree, you get to meet people with similar interests which provides you with the right environment to start your own business. You can share your ideas with them and find a reliable partner for your business. Nearly 17% of the MBA graduates set up their own company within 3 years of graduation and find co-founders from their campus itself.
6. Receive Thriving Business Opportunities
According to Statista, about 63.4% of people undertake an MBA degree to improve their career prospects. MBA programs allow you to enhance your business prospects. Many students enroll in MBA to change their industry and advance their existing position in a company.
During your program, there are a plethora of opportunities that you receive. But, you should narrow down your goals to be specific about what you want to achieve. Decide if you wish to move to a different industry or advance your position. Aiming for both can be a little challenging for young graduates.
7. Get a Perspective on Global Business Opportunities
Whether you’re pursuing an MBA course in India or abroad, you get access to many global business opportunities during your term. This helps you broaden your horizons and prospects for an international career. Some programs also help you get hands-on experience in the industry through internships and projects. As an MBA candidate, you can leverage these for your career. Moreover, if you pursue your degree from one of the top MBA programs such as an IIM, your chances of getting a job in the competitive market become even better.
8. Dedicated Efforts for Compound Growth
While most candidates think that MBA programs are the hardest, it’s quite the opposite. If you have a knack for business and a little dedication, you can easily excel in your MBA. All one needs is an attitude for professional success. It is best to adopt the right mentality and go through with your business program like you’re investing in yourself.
9. Study Part-time or Online Flexibly
One of the best parts of pursuing an MBA program is that it helps you enhance your business knowledge flexibly. A recent research by GMAC highlights the fact that the future of MBA will be flexible and affordable.
Be it full-time, part-time, or distance learning, you can pursue an MBA from anywhere you like at your convenience. An online MBA is also much more flexible and has lower tuition fees.
10. No Age Barriers to the Program
There are no age barriers to enrolling in an MBA degree. It doesn’t matter if you are 30 or 24, you can pursue an MBA as per your professional requirements. Most of the Ivy Leagues have an average age of 29.
The Bottom line
With time-tested courses and industry leaders across the globe, we can carve your path to your desired MBA campus. Be it an IIM or an Ivy League, our expert faculties with a decade of experience assure you of a better college degree across the globe. With over 3000 IIM Alumni and around 15,000 Top B School Alumni, Endeavor’s Robust Test Series proves to be a gamechanger. Take your shot and start prepping with an online CAT coaching! As it rightly said,
” Be the change you want to see in the world“.