Every organization looks for dynamic professionals with a specialized skill set. Completing a bachelor’s degree may not help you stand apart from the crowd and that’s why it becomes important to obtain a specialization to gain expert knowledge of your chosen field thus creating a great impression on your future employer. It will help them understand your passion for learning and developing new skills. A globally recognized professional degree will also lead you to explore immense career opportunities. MBA is considered to be the most preferred postgraduate degree and when pursued from an internationally acclaimed university, the biggest advantage is an exceptional global exposure of the business world. It will also equip you with the required skills of solving real-time business situations with its diligent curriculum and projects.
There are several prestigious universities across the globe that offer quality MBA programs. If you are someone searching for the right MBA program, here’s a comprehensive article which will walk you through the various important aspects of pursuing an MBA.
Why You Should Pursue an MBA?
MBA is the most sought-after postgraduate degree that every management student aspires for. The reason why it has become popular are the various benefits that you can avail while pursuing this course. Here, we have listed the major reasons why you should pursue an MBA:
- Endless Learning Outcomes
The main objective of pursuing an MBA is to enable students to grasp every central element that constitutes the field of Business and Management. Regardless of your academic background, it will provide you with the essential knowledge and skills to run a business along with helping you discover diverse managerial careers. Therefore, students from various backgrounds, whether technical, business, arts, or science, can pursue an MBA to enhance their abilities and aspire for greater career prospects.
- Better Career Opportunities
MBA is a globally recognized degree which provides a wide variety of career opportunities to explore in various industries. An MBA can help you look for job opportunities in different fields such as Information Technology, Finance, Human Resource, Economics, Business Management, Statistics, Hotel Management, Arts, Fashion Designing, Cultural Management, etc.
- Great Salary Potential
There is a significant difference between the salary of a management graduate and the package of a postgraduate with an MBA degree. In comparison to other employees, MBA professionals will always stand out and are more heavily compensated. Whether in the public or private sector, you can acquire a higher package compared to someone with a graduate degree.
- Be Your Own Boss
Pursuing an MBA, you can gain sufficient knowledge to execute your own business which is why many students become entrepreneurs after completing the course. MBA provides you with requisite knowledge and skills needed to potentially develop and operate your own business. Students can learn Business Management, Business Planning, Financial Handling and Business Analysis to understand the key essentials of entrepreneurship.
- Personal Development
An MBA can play an imperative role in the personal development of an individual. With a new perspective of the business world, you will get a remarkable exposure into the field of Management by studying under the guidance of business leaders. The course will enhance a student’s problem-solving skills along with enabling them to become amazing conversationalists and advisers.
Eligibility
While enrolling in an MBA course, there are certain requirements that need to be fulfilled in order to get admission into your desired college. Following are the major eligibility criteria for applicants aspiring to pursue MBA courses:
- Applicants are required to complete their secondary and senior secondary education from a recognized board of education.
- Applicants are required to have completed their bachelor’s degree with an aggregate total of 50% in the course.
- There is no restraint regarding the course you studied during the bachelors. Students from any background can pursue MBA.
- Applicants are required to give certain entrance tests specified by the college or university they are applying for.
- Applicants are required to give the GMAT or GRE examinations in order to get admission into an MBA college.
- Applicants are required to have work experience of minimum 2-3 years in any respective field.
- Some universities also require applicants to qualify for language proficiency tests such as IELTS or TOEFL.
Also Read: Eligibility for MBA
Writing an SOP for MBA
For getting admission into your dream college to pursue an MBA, it is essential to submit an SOP along with your application. A Statement of Purpose can help you create a solid impression and stand out from the rest of the applicants. It is a great opportunity to elaborate your ambitions and aspirations to the administrators. People often get confused about finding the right approach for writing an SOP and below are the major things you need to keep in mind while writing an SOP for MBA:
- Brainstorm all the key points and ideas that you will be writing in your SOP for MBA. This is the only opportunity to show the admission committee who you really are.
- While there is no prescribed format for writing SOP, some universities tend to give certain guidelines on how to construct a strong SOP.
- Use storytelling to describe your achievements, qualities, interests and goals accordingly. This can help you build a concise SOP which will provide the admission committee with a clear view of your personality and future goals. Start with why a degree like MBA is important for your career and how it can help you progress in your field of interest.
- Mention your interest in pursuing your chosen specialization in MBA. Explain why you are choosing this particular course at your selected university. Mention a few faculty members or alumni who inspired you to pursue the course.
- Explain your work experience in a particular field along with your learning outcomes and how that experience inspired you to pursue higher education. Mention your skills and work ethics such as your determination towards your goals and career, your strengths and ability to work in a team or as an individual.
- Highlight your personality traits, hobbies, interests and create a complete overview of your personality, dreams and aspirations. Try to think beyond the ordinary and be creative. Be honest in your writing and mention the relevant things that make you stand out from the crowd. Don’t exaggerate things about yourself and paint an honest portrayal of yourself.
Related Read: How to Pursue CA After Graduation
Writing Career Objectives for your Application
Career objectives are a vital element of your resume as it complements your knowledge and skills and gives the employer an idea of your abilities and characteristics. Indicating precise information, it should not be very long but crisp and impressive. Here are a few tips for writing career objectives:
- Be Honest
Honesty should be the essence of your resume. Being clear and straightforward about your objectives and goal is beneficial for you as well as the employer. By being honest on your resume, you can avoid the potentially awkward questions which could affect your chances of getting hired. Be clear about your academic background and future goals to help the understand your interests and forte.
- Keep it Short
Imagine an employer reading the first 3 paragraphs of a resume describing incessantly on “how I could be a valuable employee to your company?” Is it sensible to exaggerate endlessly about yourself? Your career objectives should be crisp and engaging. Don’t exaggerate things to impress the employer. It should only contain a precise overview of your skills and how they are suitable for the job you are looking for.
- Mould your Career Objective According to the Job Profile
Make sure you design your career objective according to the specific role and the company. The career objective should go along with the requirements of an employer. Research about the company and understand their expectations for your chosen job profile. This can help you build concise career objectives accordingly.
As an MBA graduate, you should mention your zeal to learn and the amount of effort you’re willing to put in. This will signify your dedication and attitude towards learning new things. To assist you further, here are some examples of writing career objectives for MBA.
- “Looking for opportunities to incorporate my skills and training to help the company grow. I am looking forward to exploring my potential by working in the various aspects of this field.”
- “I want to join a company that can enhance my skills and strengthen my knowledge. I am willing to explore a wide variety of opportunities that can help me gain a wider perspective and exposure of XYZ field.”
Types of MBA Programs
MBA programs offer a wide variety of specializations. Each program holds a unique value and is designed according to different career fields. There are various types of MBA programs such as:
- Full-Time MBA Programs
A full-time Masters of Business Administration program provides students with sufficient knowledge and skills to enter the fast-paced industry of Business and Management. The course duration can stretch from 2-3 years depending on the curriculum of different universities and colleges. The course imparts students with a strong theoretical and practical foundation in business concepts. Most universities offer 2 year full-time MBA programs for those wanting to get advanced exposure into the industry.
- Part-Time MBA Programs
Part-time MBA programs are designed for working professionals who are already working in the industry and need to enhance their knowledge of a particular specialization in the field of Business and Management. Pursuing a part-time MBA program can be beneficial to avail upscale opportunities without having to break away from your regular job.
- Executive MBA Programs
These programs are also designed for working professionals aiming to enhance and sharpen their administration and managerial skills. This course can help professionals expand their career potential, acquire leadership qualities and gain international management experience. The most interesting feature of this course is its flexibility to customize your course as well as study timings.
- Distance MBA Programs
Distance learning refers to obtaining an education without actually having to attend a course in a college. There are various ways of pursuing distance MBA programs through online or correspondence courses that allow students to gain knowledge and do thorough discussions over teleconferencing and videoconferencing. One of the interesting features of pursuing distance MBA programs is that the courses can be completed from the comfort of our home without interrupting your work commitments. The courses also come with flexibility in terms of study schedules.
Different Specializations
MBA is a course that is structured to help you develop leadership and managerial skills. The initial phase, i.e. the first year of an MBA program is structured to build a solid foundation of the basic management concepts and understanding the core subjects of the field. The latter part of the program is structured to help you learn and develop skills in a specialized area of Business and Management. You can choose the specialization you want to work in and study it in a detailed manner.
Let us have a look at some of the different specializations:
Finance deals with the concepts of controlling and reviewing the collection of money along with numerous monetary resources and investments. It imparts knowledge about the different opportunities in the financial market by teaching them to analyze company reports, devise ideas on for increasing stock values, forecast trends of the economy, predict the risks and keep a balance of both risks and profits. Investment portfolio management also forms a key part of MBA in Finance.
If you are interested in exploring the role of media in the field of Management, then an MBA in Marketing is an ideal specialization for you. Marketing is considered as the heart of any organisation and with the advancing technology, this field is witnessing tremendous change. The course for this specialization is structured to teach students about the field of Marketing along with giving them an overview of marketing strategies, consumer trends, market research and product management in numerous industries.
Recruiting personnel and maintaining a company’s workforce are the key responsibilities of the Human Resources department of an organisation. The field of Human Resources equips students with a complete understanding of handling the recruitment process, providing training for proper development, maintaining the workforce regulations, providing compensation as well as benefits, in terms of health, safety, labour and welfare and assessing the performances of the company’s employees.
- MBA in Operations
The field of Operations is the linchpin of every business and is multidisciplinary in nature. You will get to develop skills such as organizing, planning and supervision of manufacturing, production and the provision of different services. As an Operations Management graduate, you are expected to ensure that an organisation is successfully turning the inputs to outputs in the most efficient manner as this field is more result-oriented than the other branches.
- MBA in Information Technology
This MBA specialization integrates Business Management with the phenomena of technology. There is always a constant need for professionals who possess a complete understanding of Information Technology. Whether your company provides services and products through an online platform or uses technology for its day-to-day functioning, the need for MBA IT graduates will always be there.
Some other key MBA specializations include:
- MBA in Retail Management
- MBA in Construction Management
- MBA in Foreign Trade
- MBA in Digital Marketing
- MBA in Healthcare
- MBA in Accounting
- MBA in Quality Management
- MBA in Fashion Management
Preparatory Tips for Entrances
Once you have decided to pursue an MBA, the next thing is to prepare yourself for the program application. An MBA is different from any other postgraduate degree. We need to understand the diverse factors that differentiate it from other courses. Scoring exceptionally in your entrance test is only a small part of the preparatory process of the course. There are several other aspects that you need to factor into your preparation routine to get into your chosen MBA program at your dream college.
Some of these factors include:
- Research thoroughly about your MBA program, the course structure, the colleges offering it, the eligibility requirements, etc. There are always certain general guidelines and requirements that are easier to follow along with some specified requirements as per a particular institute and the MBA program. Being informed about all the details will help you in following the application process in a timely manner.
- Get in touch with MBA experts who can guide you in making a better and informed decision. Ask your friends and acquaintances who have done MBA and can help you in choosing the right course and college.
- Start working on your essays and SOP for the application of your chosen MBA program. Both of these documents serve different purposes. Through application essays, the institute will understand your academic background and work experience, while an SOP will help them grasp the unique factor of your application, what you will bring to the institute along with your personal expectations from the institute. Make sure that these documents are perfect, unique and have your personal touch, beginning at an early stage will give you an edge in understanding their writing format and style.
- The entrance examination specified for an MBA program is also a key criteria for getting successfully shortlisted. Also, there are other accompanying exams with the entrance test, like TOEFL, IELTS, etc that you need to prepare for. Starting your preparation early, you need to get the right study material along with chalking out a study schedule that will help you prepare better than your competitors, increasing your chance of admission into your dream college.
Top Countries for MBA
MBA programs are offered in universities and colleges across the globe. We have listed down the countries renowned for their MBA programs and their leading Management institutes and Business schools:
- MBA in USA: The most common destination for students to study abroad, USA is home to the world’s top management schools and universities. MBA in USA is definitely a good option as you will get learn from world’s leading business leaders and international exposure to the business world which is another added advantage.
- MBA in New Zealand: Housing universities that offer the world’s best and affordable programs, MBA in New Zealand is an option worth considering. With a diverse culture and excellent academic and teaching curriculum, you will gain tremendous knowledge and experience in the field of Management.
- MBA in Germany: With the academic course structured to provide you with in-depth insight on numerous critical topics, MBA in Germany definitely is a good choice with its affordable education costs and practical-oriented learning that is an integral part of every course.
Other Major Countries Known for their MBA Programs include:
Job Oriented Courses
After completing an MBA, there are millions of other courses you can explore to get deeper into a specific field. There are job oriented courses after MBA that will help you progress in your career. These courses are structured to help you develop skills that are oriented with the role you will be filling and specifically structured to help you enter your chosen career field. Some of these courses include:
- Society for Human Resource Management Certification: Conducted by the HR Members Association, this course trains students for highly competitive situations and for handling pressure in the business industry.
- Marketing Management Professional Care: Structured to provide an overall view of the field of Marketing Management, this course is for those who want to move forward in a career in Marketing.
- Certification for Financial Analyst: This is a course in Finance and teaches students about the important aspects of the financial world.
Also Read: Job Oriented Courses after MBA
Career Options after MBA
An MBA program is divided into two categories:
- MBA General
- MBA Specialised
The two types of programs are structured to suit the requirements of different managerial roles. There is a huge requirement for MBA graduates as there are numerous job profiles that require professionals of management background. Some of the major career options for MBA graduates include:
- Managing Consultants
- Human Resource Manager
- Healthcare Management Experts
- Financial Analyst
- Marketing Professionals
- Entrepreneurship Experts
- Information System Expert
- Data Analysts
Also Read: MBA Career Options
Hopefully, this blog helped you explore the key integrals of an MBA as well as the career prospects that you can discover after completing the degree. It is important to make an informed decision about choosing the right MBA program. Let Leverage Edu experts can guide you through the process of selecting an ideal MBA program, accomplishing the application process and fulfilling the essential steps to successfully land in your dream business school.
Hopefully, this blog helped you explore the key integrals of an MBA as well as the career prospects that you can discover after completing the degree. It is important to make an informed decision about choosing the right MBA program. Let Leverage Edu experts can guide you through the process of selecting an ideal MBA program, accomplishing the application process and fulfilling the essential steps to successfully land in your dream business school.
