Pursuing an MBA is a no brainer for most students. Most of them see MBA as one of the rare Master’s degree that offers you a great job as soon as you complete it. There are two sets of students who pursue this prestigious course:
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Working before Studying: Students who complete their bachelors and work for few years, once they feel stagnant or stunted, or if they want a change in career they opt for an MBA.
Studying before Working: Student who finishes their bachelors and then straight away goes for Masters; without any gaps.
Both these set of students, have their own reasons for pursuing MBA:
- Some want to gain industry exposure, earn some money and gain experience before they opt for a Master’s degree
- Some do not believe in wasting time and straight away go for Masters, and want to get over with their education in one go.
- Some do not crack the entrance exams or do not get into colleges of their preference and choose to work for awhile and try later.
- Some look forward specifically for an Executive MBA, knowing it is for 1 year and till then you can also earn some money.
- Some are those who never thought about a higher degree. They were happy completing their Bachelors, but over the time at their work place, they see people who are MBA graduates are moving up faster and as a result they also opt for the same.
- And some are those students, whose parents have en-grained in them that an MBA is the only source of redemption, so if you don’t pursue it; your life would be fruitless.
So while everyone has their own reasons to pursue Masters in Business Administration, we are here to understand when the right time for you to pursue an MBA is.
Masters in Business Administration is such a course that is not only custom built for every individual – but also it doesn’t have an age limit. You could be 20 or 40; you can pursue this degree if you wish it. So if you your think time is running out, it is not true. So understand few things before you jump the gun.
What is your undergraduate degree?
Your undergraduate degree has an extremely important role to play, while deciding what master’s degree you should pursue. When you want to get into business and managerial side of things – an MBA makes sense. If you have pursued sciences or applied sciences – You should reconsider an MBA right after your bachelors. Once you have worked in your field and are looking for a change, think about it then. On the other hand if you are from the commerce background, economics or finance then this course suits you the best.
Gaining industry exposure not only gives you credits and work experience, but also the capability to understand what the degree entails and how would it benefit you. For example if you are an engineer and you have worked for 4-5 years; you have already gained enough experience in the employment genre and once you have completed your masters degree; you not only would be getting a higher pay than other graduates but also you would be sought after by many companies.
How old are you?
Age is just a number, but when it comes to taking risks; the younger you are – the farther you can fly. Having said that; the older you are the wiser you get. So both ways you have your pluses. If you finish your MBA right after your under graduation then you have a longer time period to experiment, in terms with your career. If you have worked for decent amount of time, you would be wiser and know what you want for your future, you would be more settled; doing an MBA now would take you directly onto your desired path.
Why do you want to pursue an MBA?
Are looking for an MBA, as an easy way in to the corporate world? Do not pursue an MBA just because you have nothing better to you. This degree is specifically designed, for those who are interested in subjects like Marketing, Finance, sales, Operations etc. For example if you are someone who wants to become a filmmaker, or get into arts – an MBA wouldn’t serve your purpose.
Can you afford it now?
MBA is an expensive course. You need to have a financial backup. If you are getting into the degree with the guarantee of a job post the course; you can take the risk of taking a loan. Otherwise there are chances that you might end up in huge debt. So unless you have a surety and have the mean to pay the fees, you can apply now; or wait for few years; work and gain some experience. Experience always adds on to an MBA degree and gives you some sort of a surety when it comes to placements.
Predicting the Job Market?
The global job market always has a wavy trajectory. If you are working and you are seeing the market is low, don’t quit your job. On the other hand, if you see yourself out of a job and no prospects – MBA would give you the chance to jump start your career.
And lastly, are you ready for it?
Pursuing a business administration degree is not a piece of cake. To get into the A listers you have to clear a list of entrance exams and preparing for them takes a long time. You have to brush up your maths, grammar and other course subjects. Some people prepare for their entrances for atleast a year. If you are hell bent in pursuing this course, you should start preparing for it now.