The Right Time to Do an MBA for College Students
According to the Corporate Recruiting Survey Reports, 81% of surveyed businesses hired MBA graduates. MBA graduates’ demands are always constant. How does a student know if an MBA is suitable for them? Students who want to pursue a management degree are often faced with such questions.
Many people believe it is a waste of time to invest a year for experience and pursue an MBA after completing an Engineering or a bachelor’s. Some people believe that the MBA is more valuable if you have experience, particularly when it comes down to learning the lessons.
Also, check out IIT Bombay and Washington University in St. Louis have introduced a joint degree Executive MBA Degree Program in India.
Right Time to Do an MBA for Students
Get an MBA right after graduation
You don’t have to wait for more than two years to get your MBA. First, you’ll be able to handle your studies quickly after graduation because you are already in the flow. In recent years, the demand for MBA freshers has been higher.
These years, an IIM batch would have between 25 and 35% fresh graduates. The third factor is that the placement opportunities for fresh graduates with 2 to 3 years of experience are almost identical. The most significant difference will be between 4-5 lakhs and 5.5 million.
However, an MBA without prior experience has many downsides. Although the curriculum will be the same for both experienced and new grads alike, understanding and grasping ability will be lower than for the experienced.
Although you will learn many real-world scenarios in your course, it is not necessary to have any experience. Most companies only offer entry-level jobs for MBA freshers. MBA is most valuable when done at renowned institutions. The entrance requirements and exams for top institutions will be rigorous, which will require a lot of preparation.
You should begin your preparations for an MBA in the second year of college if you plan to continue after college. Are you able to spare the time?
These are the pros and cons of getting an MBA after graduating.
After a work experience, you can pursue an MBA
After working for 3-5 years, there are many benefits to doing an MBA. You can gain additional weight directly or indirectly. Some institutions prefer people who have work experience. It would depend on which institution you are applying to.
Second, your ability to understand lessons will improve as you have an understanding of both the corporate culture and the details of management. Companies prefer to hire students who have work experience when they are looking for senior-level or mid-senior leadership positions. Companies are willing to offer higher CTCs for MBA graduates with work experience.
Many top schools offer “lateral placements,” which are only available to students who have experience. After a few years of work, you will have some savings that can be used to fund your MBA.
You would also have a strong credit history and years of experience. You will find it easier to obtain an education loan to finance your MBA. Only a few companies will fully sponsor your MBA. Most companies will sponsor your MBA partially. This is an advantage your company can enjoy that is risk-free.
Taking Decision on the Right time Do MBA in India
The reason you are interested in pursuing an MBA at this time in your career will determine when it is best to pursue one. There are two main reasons to do an MBA.
Step up to leadership roles
An MBA is required if you plan to become a leader or if you want to improve your performance. You will need to have experience if you want to do an MBA. It is better to get 3-5 years’ work experience before you start looking for one.
Change Career Path
An MBA can change a person’s career. If a person works in IT or did Computers for graduation but wants to be an investment banking expert because of his personal interests, he can get an MBA in finance. This will allow him to get hired in top-notch financial institutions with high CTCs.
You don’t need to have any industry experience, as you will be changing your industry. Internships can be a great way to gain an edge while studying for your MBA.
Let’s wrap it up
These are some scenarios that you could consider and their pros and cons. The right time to complete your MBA in Business Analytics depends on your circumstances and the reason you are pursuing it.
Also, check out Reasons Why MBA Pay Rates are So High?
Posted in Education.