MBA remains one of the hottest post-graduate programs with millions of aspirants. So, if you’re planning to steer the same way, welcome abroad! “MBA” on your resume will position you for better roles in organizations and higher salary. To that, the program will arm you with inherent skills to build and scale your own business. You can’t ask for more!
But let’s address the other side of the coin…Are these promises of a better future valid for all? Do they come true for every MBA graduate? Not really!
MBA Graduates in India
A study done a few years back underlines 93 percent of management graduates in India are unemployable. Less than half of students with MBA degree have the right skills to be hired. It is no more a key to land jobs in India. So, while MBA remains popular, it has its other side that aspirants (and their parents) must attend to.
MBA in India vs. Abroad
MBA graduates in India don’t get paid a lot. For instance, the average salary of an MBA (Finance) in India is INR 678,000 PA. For MBA in HR and marketing, it is INR 603,000 and INR 752,000 PA respectively. In comparison, the aggregate average salary for MBA graduates in the US is $134,991. The average salary of MBA jobs in London is £57,500.
Where to do MBA from?
So, while MBA will certainly help your career grow and aid you in your dreams, where you do your MBA from matters a lot. Doing MBA abroad, from a good university, assures you of greater returns. If you’re in the planning or preparation stage, consider getting admission to renowned business schools in the US, UK, Australia or Germany. Studying abroad isn’t as expensive as is assumed. Read this: Studying Abroad is Not Expensive Anymore
What after MBA?
After doing your MBA abroad, you can either look for jobs in the same country or return to India. Either way, you can find plenty of jobs in different verticals, based on your specialization – right from human resources and marketing to finance and operations.
Back home, with MBA degree from a college abroad, you would have more weight in your portfolio, which will subsequently unlock you plenty of incredible opportunities, including top management roles and higher salary. You can also create your own startup. With the right qualification from a reputed business school, raising funds or attracting angel investors would be relatively easier.
For more opportunities and higher career growth, you can also move to different countries where you’re more likely to get a high-paying job if you have completed your MBA from a top business school abroad.
Make the Right Decision
In all, MBA is popular – and it can take your career to newer heights. But it all depends on where you get your management degree from. Doing MBA from globally renowned business schools promises you better professional and personal growth. In contrast, doing this course from some less-known or less-reputed university will negatively affect your employability and career prospect.