In today's context, is a costly MBA program a smart investment option?
Career Talk Work & Career 2 years ago
Posted on 16 Aug 2022, this text provides information on Work & Career related to Career Talk. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
Answers (5)
manpreet 2 years ago
MBA is costly depends upon the college in which you take admission. The range of fee for various colleges varies from 4 lakhs to 20 lakhs. So cost factor depends upon your admission. Apart from this there are scholarships also available to students in some of the colleges. Yes, it is a smart option, especially for people who have a work experience of at least 2 years. People get a chance to switch their jobs from technical roles and support the same with managerial role with the help of MBA. It gives chance of getting bigger package after completing MBA or PGDM. You can even change your area or domain of work and get into marketing, finance, supply chain management, operations, etc. Apart from this doing MBA degree adds onto your resume and CV plus gives you a break from your professional life.
manpreet 2 years ago
In one word-yes. Firstly, the worldly things. It increases your pay scale. In a few words, you're likely to earn a salary in the low six digits or high five digits if you have an MBA degree. Without one, you're likely to earn below INR 60,000 a month. The stats indicate that you'll be able to pay off your debt (educational or any other) in a few years with the money you're making. It turns out to be more important if you are thinking about setting up a business or start-up. As a founder, you are often faced with the task of making difficult decisions with limited time and information. The only thing that matters in this debate is you. A degree's value can't be measured in rupees only. Its meaning will also depend on your affinity for learning, your career path, and your desire to network. So, I think, it is still a good investment of money and time, it pays back in the future.
manpreet 2 years ago
Rather than MBA, I should go for Leadership SEED cultivation training, because without this even home cannot be run properly. Without leadership skills no project can be completed.
manpreet 2 years ago
Whether you join a public business school or a private business school, assume to pay around 10, 00,000-30, 00,000 in tuition alone. But the actual opportunity cost is the salary you sacrifice and the two years of career experience you miss. If you are in banking, two years is an infinity since it generally takes three years to get promoted to the next level e.g. three years as an Associate before you can be considered for VP, three years as a VP before you can be considered for Director, and three-to-four years as a Director before you can be considered for Managing Director. If you actually do not like what you are doing, and find no other way to get in a field that you think youll like, get an MBA. You still have to go through the rounds of interviews to land a coveted job, don't forget. Just know that getting an MBA could easily set you back three to five years worth of savings as you pay instead of earn.No matter what stage you're at in your education or career, TuteeHub will help you reach the next level that you're aiming for. Simply,Choose a subject/topic and get started in self-paced practice sessions to improve your knowledge and scores.
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Best Answer
2 years ago
Master of business administration (MBA) has always been an expensive program till date. It is hard to find a B-School which provides a cheap and good quality of knowledge in Master of business administration (MBA). Now talking of investment if someone is interested in doing a Master in business administration (MBA) he/she will always do that and if you want to compare with other courses then there are several facts that you should check before getting admission. One of the facts that matters a lot is how the B-School is performing in last few years. Whether the quality of education is same, enriched or declined in recent years? What was the placement scenario in last 2-3 years? Which were the companies that came for placement? What was the last year’s fees structure? After you have the answers of all the above questions, place yourself in the position after two years from now and check whether you can get a handful of package that could recover you cost. If you think yes, then it's a smart investment else you need to think.