What is it that you can do with an MBA? An MBA from a good business school will offer many advantages. Getting a high salary after graduation, developing a professional network, landing a management position, or even becoming your own boss are just some of the advantages of having an MBA degree.
MBA in Finance would be Great for financial controllers, bankers, chief financial officers, and finance managers. Most of the MBA Courses will focus on Data Analysis, Statistics, Accounting and many more. For MBA admission in India, there are numerous national-level management entrance tests. CAT Exam is one of those exams for admission into reputed universities or colleges.
Here are a few more reasons to have an MBA degree:
1. MBA salaries are one of the highest in the world of jobs
High Salary and job security are most important among the benefits of an MBA degree. The average income will be much higher than an employee’s with a regular Master’s.
Some popular career choices after MBA are Management Analyst, Business Operations Manager, Top Executive, Market Research Analyst, HR manager etc.
The average MBA salaries around the world would be in a range of 77,200 USD/year in Germany to 102,100 USD/year in the US
The top 5 high salaried industries for MBA graduates are Consulting, Financial Services, Technology, Healthcare, Consumer Packaged Goods. You can get paid even higher with MBA as a foundation by acquiring a project management diploma online.
2. Start the company on your own from scratch
The main reason why students choose an MBA is that they want to learn how to start and grow a business and become entrepreneurs. They want their big dream to turn into reality.
You’ll learn to communicate effectively and know why it is essential for the success of any organisation. Whether a contract is being negotiated with the suppliers or you’re explaining your vision to prospective investors, knowing how to express your ideas clearly makes the difference between winning or losing the support and attention of your audience.
MBA professors share their real-life experience in starting a business and tell you the major traps that need to be avoided and what is to be done to make sure your company grows and remains stable over time.
MBA colleagues having similar interests can be found. Share the ideas you have with them and see if you can form a common vision. It’s easier to succeed with a start-up by having a reliable partner who has your back and vice versa.
3. Flexible and advanced management skills are developed
MBA applicants are usually young business people with fewer years of professional experience.MBA helps in developing the skills necessary to keep a company successful. Here are a few of the most common competences you’ll develop depending on the study programs you choose:
- Develop, advertise and sell your products and services
- Improve people management skills and leadership
- MBA in finance helps in keeping the company’s finances healthy
- Difficult situations management
- Network and create partnership or connections
- Making tough calls at the right time
4. Extensive business network access
You’ll have great networking opportunities as an MBA student by interacting with fellow students, teaching staff and professors who are business people with great management experience. And this context will expand your management capabilities.
Eventually, you gain access to the vast alumni network of the particular MBA programme. The connections you make will give you a great overview of the business world and have a deep understanding of the slightest changes in the business environment by discovering new ways to adapt fast.
5. Business Administration Degree is great for a career change and thriving business opportunities
Many take MBAs to either advance to a managerial or administrative position or change the industry they’re working in. The diversity and versatility of MBA programme specialisations provide great support for those preparing to switch their career.
MBA graduates have better chances of holding a high-level management position and enjoy successful Business Administration careers. Specialized degree programs like MS Business Analytics from Carroll University degree can help kick-start your career or enhance your professional development.
The two main exams for overseas MBA programs are GMAT and GRE. For those having long term plans here in India and are not very keen to work abroad, the MBA programs from top Institutes in India could be good options. The primary requirement is a good score in the entrance tests like CAT, XAT, CMAT, MAT, etc. following group discussion rounds and personal interview rounds. CAT Exam is considered to be one of the most difficult entrance examinations as the complexity of exam increases because of the competition and high stakes.
The Bottom Line
If you are an Aspiring Manager entering the competitive business world of today, we believe having an MBA degree from a reputed business school is worth it.