The global pandemic that took 2020 by storm is bound to have lasting repercussions on the world. It has been a significant deterrent in the economy’s growth, and no sector has been left untouched by it. MBA too has been affected significantly, and while job opportunities were thin, experts project that the hiring graph for MBA graduates is bound to rise in 2021. Apart from the pandemic-induced slowdown, Masters in Business Administration is a challenging course that requires dedication and perseverance, and while there is no shortage of opportunities if you have MBA qualifications, you still need to work hard to achieve your dreams. A lot of people also pursue MBA after Engineering as it can offer very lucrative opportunities.
Here are some challenges and opportunities associated with pursuing an MBA this year:
- Challenge- Exhaustive Curriculum
MBA is a rigorous degree that tests your mental faculties and presence of mind at the same time. While intellectually stimulating, the course can get hectic, especially if you are a working professional balancing your MBA degree with a full-time job. Apart from balancing your student life and work life, devoting time to the degree can get a little tricky.
- Opportunity- Career Growth
Despite the lull in the job market because of the pandemic, an MBA degree helps you bypass the hierarchical order and easily get you to management positions. The career growth you experience after getting a degree from a good B-school is quite significant. An MBA degree opens up previously inaccessible vistas for you as a working professional and allows you to join the top brass.
- Challenge- Networking
Many people use socializing and networking synonymously, but in a good B-school, you must learn the differences between the true. Networking entails making professional connections with like-minded or enterprising people who can help you further your career and vice-versa. A reliable, professional network can help you gain new heights in your career and be very useful when pursuing your entrepreneurial dreams. Let’s be honest; most MBA aspirants dream of running their businesses.
- Opportunity- Change career paths
Once you get an MBA degree, it becomes straightforward for you to change career paths. For instance, if you have been working in sales, you can shift to business administration in a manager’s capacity. An MBA degree is the gateway to changing your career paths or growing substantially in your chosen department. Whatever you specialize in during your degree, you can undertake as a career path. It also infuses you with the confidence to handle your own business, even without prior experience.
- Challenge- Schedule
As mentioned earlier, an MBA course can be quite hectic. Getting used to a heavy class schedule, assignments, and presentations will not leave you with a lot of free time to pursue other interests. If you are working along with a full-time degree, juggling the two can be quite challenging. Although this has a silver lining; it gets you the chance to develop time management and organizational skills.
- Opportunity- Global Credentials
An MBA degree gives credibility to your resume. The degree is acceptable worldwide and prepares you for leadership roles in any country or environment. The degree is an experience that helps you develop and grow holistically, providing the necessary skills for team management and negotiations. Graduates from top B-Schools in India are heading large multi-national organizations simply because of their MBA degrees skills.
- Challenge- Changing perspectives
It can be challenging to adapt to an MBA mindset, mostly if you have worked as a professional. You will have to develop a learning perspective to make the most of your time as an MBA student. Pursuing an MBA requires you to be resilient and willing to learn from both the faculty and your peers, which can be challenging if you have already outgrown the student phase. However, you must remember that a job also requires you to learn and adapt all the time.
- Opportunity- Better Salary packages
This is perhaps the most obvious benefit of a Business Administration degree, a more attractive pay package. An MBA teaches you the required skills to manage teams and become a leader, translating to higher salaries and other perks. In short, an MBA degree gives your career a major boost in terms of both growth and finances.
An MBA degree is a journey that helps you grow as a professional and as an individual. It comes with a set of challenges, but they help you become the best version of yourself. These challenges are imperative to developing leadership qualities and team management skills. This journey can have a lasting impact on your life. With an MBA degree, the world is your oyster.