Whether you choose to do distance MBA or full-time MBA course, there are certain things that one needs to consider and give considerable weightage. This is important because MBA course is a very vigorous course and therefore consumes large amount of your time as well as energy. When any course is going to have a such a decisive impact on your career, it certainly becomes imperative to carry out proper due diligence and all the critical factors have been pondered up on. Mind you, trying to bypass or overlook this process of due diligence can prove to be suicidal for your career. To spare your invaluable career from such adverse or negative fall-out we’re sharing with you critical factors that every MBA aspirants need to ponder before enrolling for the course.
Top 5 factors to consider before joining the MBA bandwagon
Consider pros & cons of doing an MBA
When you decide to commit to anything that is going to consume your considerable amount of energy and time it is important to contemplate all the pros and cons. It is important to remember that everything has a positive and negative side to it and MBA is no exception. For many people doing an MBA may prove to be advantageous while for others it can prove disadvantageous. The final outcome of MBA -whether it proves advantageous and disadvantageous – is eventually determined by many factors – including external factors. Obviously when pros outweighs cons, pursuing MBA is advisable and wise decision but pursuing MBA is an avoidable proposition when the scenario is exactly opposite.
To help MBA aspirants in making better and informed decision, below we’ve outlined some of the most important pros and cons of doing MBA.
Pros of doing MBA
- Enhances your leadership & managerial skills
- Strengthens your resume and helps to climb the corporate ladder rapidly
- Lends clarity in making strategic planning and taking calculated yet bold risks
- Helps in improving your networking
Cons of doing MBA
- It is damn expensive especially if you’re opting for doing full-time MBA course.
- MBA’s theoretical knowledge cannot compensate for the practical knowledge that non-MBA students secure by doing a corporate job.
Consider total number of work experience
It is always advantageous to do an MBA if you’ve considerable work experience beforehand. The practical experience gained through work experience will nicely add up to the theoretical knowledge earned during the MBA training. Above all, work experience couple with MBA degree will invariably help in making your resume stronger and pave way for a lucrative corporate job. Due to this inherent advantage, work experience is a mandatory eligibility criteria for taking admission in top MBA colleges. Therefore, if you still don’t have considerable work experience it is better to put on hold your MBA plan and search for a corporate job instead. The more work experience you’ve, the better it is not only for your prospect in getting admission in a good MBA college but also for your overall career.
Selecting MBA specialization
Although this specific factor applies on all those who are planning to opt for general MBA course, this factor has a greater weightage or applies especially on all those who are planning to opt for specialized MBA courses. This is because in specialized MBA courses all your knowledge and skills will be aligned only towards the specific domain or field that you’ve chosen to specialize in. Simply put, whichever field you’ve chosen to specialize will have a significant impact on your career. This also means that choosing a wrong specialization can simply spell doom for your career. Hence it Is advisable not to make hasty any decision while choosing your MBA specialization.
Here are some of the factors that needs to be considered while choosing your MBA specialization field:
- Properly gauge your strengthens and weaknesses and eventually choose the MBA specialization area that aligns with your strength.
- Choose a specialization or a area that is recession proof and will sustain you career growth on the long term basis.
Do the proper due diligence on MBA colleges and institutions
Even if you get a call from your preferred MBA college it is still critical to carry out the necessary due diligence. You might as well want to know whether your preferred college’s ranking has improved or worsened in the MBA college ranking. Besides, it is equally important to know your preferred college’s recent campus placement track record and the average annual salary that its students have drawn. Students must also do careful due diligence about college’s overall infrastructure and qualification as well as the experience of the faculty members.
It goes without saying that students should preferably only enroll in those colleges that appear to be on a stronger fronting after carrying out a thorough due diligence.
Economy and job market
What economy and job market has to with your decision to do MBA course? Well, it is actually wise thing to do if your decision to do MBA course hinges on tentative state of the economy and job market for next 2-3 years. You might as well want to delay your MBA decision if you believe that the job market is going to be in a bad shape in the next 2-3 years. Buts it is recommended not to make sweeping decisions on job market and economy merely based on your personal intuition. your conclusion should be based on thorough study and not shallow observations.