A Master of Business Administration (MBA) degree is generally regarded as a wise investment if you want to progress your career in business. The short-term financial and time expenses of the degree program are frequently outweighed by the long-term advantages of obtaining the degree, which include pay increases and chances for job progression.
Corporate recruiters view an MBA as a valuable credential due to the employment abilities that graduates typically possess, in addition to the possible financial advantages. In addition, the career placement programs at your school, your classmates, and the program teachers might provide you with profitable networking opportunities and business contacts.
Notwithstanding, certain aspects render certain MBA programs more valuable than others. In this section, we will walk you through how to make a cost/benefit analysis to see if earning an MBA would be a worthwhile investment.
The Advantages of Having an MBA
An MBA is a reputable credential to attach to your resume and can indicate a high-value skill set that many hiring managers look for in candidates. More than that, MBA programs offer special careers and networking resources specifically available to students and room for building beneficial long-term relationships.
Career and networking opportunities
MBA faculty and staff care about your success. Your success will make it easier for the school to attract future students with similar potential to succeed, whether that’s through positive employment reports or reflected in their program ranking. As such, many programs offer career resources and networking opportunities that can help facilitate connections during the time you spend in these programs.
Such services—perhaps on-campus recruitment fairs or executive coaching, to name just two examples—can be a step toward even better career opportunities. Even MBA programs with robust alumni networks can provide direct contacts to hiring companies around the world.
A GMAC survey also indicates that 76 percent of graduate business school alums felt their program assisted in building their professional network, and 68 percent believed their program prepared them to speed up their career advancement.
Relationship development
You can also profit immensely from the relationships you can build through your MBA. Seventy percent of alumni felt that their program prepared them for culturally diverse organizations.
Many MBA admissions offices are trying to create classes that have a wide range of students so that a different business perspective is reflected. To seize that co-learning opportunity, most programs will add group projects to the curriculum in addition to classes based on discussion, and many students will also participate in study groups or extracurricular work.
The average cost of an MBA degree
Along with the advantages of earning an MBA degree, there are some notable costs. The cost of both time, money, and energy in getting your MBA degree will determine whether the benefits outweigh the costs, depending upon your situation and career goals.
Time commitment
The time taken to complete an MBA depends on the course one chooses to enroll in. A traditional full-time MBA generally takes about two years to complete. However, part-time studies are extended, while accelerated programs, which may last as short as 12 months, can reduce the commitment period. Some programs have flexibility that allows the student to work full-time and take classes outside of regular business hours.
Is an MBA worth it?
An MBA is an investment that makes sense for anyone interested in pursuing a business career. Still, people pursue this level of education at different points during their careers. For this reason, there’s no standard “right” time to pursue an MBA-only the right time for you, and that’s when an MBA will be most worth it.
Consider the job you are doing at present, your track of growing into your aspiration, and the pace at which you would like to advance in your career while deciding whether an MBA might make sense.
Different Job Roles in MBA
MBA degree holds enormous relevance in the present market and can help you land brilliant job roles provided you choose to study from the right place. UPES is a globally recognized educational institute that offers MBAs in various specializations, such as:
- Aviation Management
- Business Analytics
- Energy Trading
- International Business
- Logistics and Supply Chain Management
- Agri-Business Management
- Oil and Gas Management
- Power Management
- Entrepreneurship and Family Business
- Banking, Financial Services and Insurance
- Digital Business
- Healthcare Management
- Media
- Human Recourses/ Marketing Management/ Finance Management/ Operations Management
- Events, PR, and Corporate Communications
Solely based on your personal interest and professional qualification, you can choose among different job roles such as:
- Management Analyst
- Senior Process Manager
- Administrative Consultant
- Human Resources Manager
- Operations Manager
If you possess strategic thinking skills and can be a good leader with a global orientation, then MBA degree courses from UPES can be really useful in helping you establish yourself. Check out their MBA admission details and give an amazing start to your career.
It is the first Indian university to be awarded the QS Five Star Global rating of employability and enjoys a track record of successful job placement in the past years. UPES also gives you a chance to become a global specialist with a four-week study program in academic partner institutes like Berlin and Vancouver.
The MBA courses are all accredited, which adds to their value in the job market. MBA Oil and Gas Management and MBA Logistics and Supply Chain Management enjoy special accreditation from the International Accreditation Council for Business Education (IACBE), USA.
Why is UPES a great choice?
UPES can benefit all those seeking to work in a managerial position. It thoroughly equips each student to outperform in their specific domain. The courses are customized to meet the needs of individuals in different sectors and prepare them for global management careers.
MBA courses at UPES focus on building management, administrative, and transferable skills that can help you progress in the modern work environment. This is done using high-tech learning technology such as Tableau and other IBM-supported software.
Rated among the top three MBA colleges in Uttarakhand, the university has a remarkable faculty of industry experts with numerous years of experience. It also has a world-class academic infrastructure and a curriculum designed to meet the latest development requirements of the modern world.
UPES has industry tie-ups with top-notch companies such as IBM, Infosys, Panasonic, and many more, which allows students to find excellent job opportunities on campus. Summer internships are an important part of UPES and help students familiarise themselves with the corporate world.
Conclusion
Whichever business school or program they attended, the majority of its graduates claim excellent experiences and great value from their MBA degrees, notwithstanding the cost-benefit analysis. It is imperative to comprehend that obtaining this degree does not guarantee a higher-paying career; you will still have to put in a lot of effort to see the desired results.
If you are unable to pay for the degree, cannot enroll in a suitable program, or lack the time to balance employment and study, you can pursue alternative choices, such as a Master’s of Finance, a CFA, or other business or finance-related credentials or specializations.