With the advancement of digitalization and technology, it would seem that the worth of MBA students is to be reduced to a large degree. But the reality is exactly the opposite. MBA graduates continue to be in high demand both in public and private business organization. Especially in today’s day and age, the worth of MBA students has skyrocketed by a good margin.
So why does an MBA degree still hold value in a developing country like India?
When you enrol yourself into a good MBA program, you are giving your career prospects a good boost. Even today, companies tend to prefer prospective candidates that have an MBA degree to their name. This is why having an MBA degree can actually enable you to gain an edge above the competition.
In fact, a lot of fields like sales, human resources, finance, economy, and management require only one basic degree- MBA. An MBA graduate has the knowledge and the training required to join a business and make it boom.
What are the career opportunities after MBA?
The MBA degree is very versatile and valuable, as there are a lot of job descriptions that require an MBA degree only. You can choose different career options after your MBA, depending upon your specialization, skills, and interests. Here are some of the career paths you can follow after your MBA and what you can expect from them:
- Management Consultant
The job of a management consultant is to advise the employers about how the company’s management should be conducted. It is also their duty to take a look at the problems that may be plaguing the company’s administration, and stopping them from reaching their desired goal. Most management consults are self-employed, and this makes this career path desirable for MBAs, as they can work as per their choice and get a high pay nevertheless.
- Marketing Manager
A marketing manager is responsible for supervising the marketing plan of a company and thus enabling it to spread its roots even further in the corporate business. A marketing manager sets the budgets for the company, organizes teams to conduct market research, launches marketing campaigns, and uses the data collected from the market research to improve the company’s marketing strategies. The marketing manager develops and promotes the company’s brand name, and works to increase sales and bring in more revenue. To do this, they take the help of a lot of different marketing approaches.
- Investment banker
The job of an investment banker in any business organization is to help the company invest their funds through clever investments. This is done by the purchase of equity and debt. They also provide advice regarding monetary transactions and the like. They are also meant to check that all the paperwork for the different transactions is in order and that there is no violation of any government regulation during any transaction.
- Operations manager
The purpose of an operations manager is to look after all the operations of a business or company. These operations include purchasing, inventory, coordination between departments, and policy creation. They are also required to look into the hiring of new employees and negotiating different contracts at times. The job of an operations manager will depend upon the lookout of the company and the expectations of the CEO. Any individual employed in this post is required to have a lot of flexibility and versatility to do a lot of different things at once.
- Financial Advisor
A financial advisor caters to individual needs, rather than the needs of a large company. They are the ones who help families create retirement plans, invest in educational loans, and build individual wealth. This career path is meant for those MBA finance students who want to use their degree and knowledge to help others.
These are only a few of the many possibilities that come with an MBA degree. As an individual, it is up to you as to which of these skills you want to concentrate upon. Once you take a look at the areas and fields of business management that are most suited to your area of learning and expertise, you will be sure to secure a good job with your MBA degree.
Now, let us take a look at why MBA degrees are so relevant and important in the Indian economy:
Why are MBAs in such high demand?
Each year, an increasing number of MBA graduates are added to the workforce. MBAs continue to be in high demand in India, which is still a developing country. Any growing country will require business to generate revenue, and what better way to propagate business than add talented people trained in business management programs to the companies?
- Enormous job opportunities – After completion of the degree, fresh graduates can immediately find jobs in the Managerial or accounting sectors. These jobs are the first stepping stones to an ultimately successful career. With their knowledge, skill and hard work, MBAs can climb the corporate ladder with ease and reach the top job descriptions in a matter of years.
- Need for consultants – MBAs are also sought after in many private consulting firms. This is because they have the business acumen to analyse what fits best with the client’s needs. With that being said, we can safely assume that with so many new career prospects on the rise, the scope of MBA will only increase in the near future.
- Understanding of market economy – In fact, MBA graduates can also run their own businesses and start-ups if they so desire. The first and foremost requirement to run any business is having a through and through knowledge about the market economy, and this is definitely what running a business requires.
In India, job opportunities are on the rise as multi-national companies are opening their firms here, after witnessing the tremendous potential of the Indian market. At a time like this, the value of an MBA degree from a good business school is immense. Companies seek MBA graduates for their knowledge in all things related to business. MBA graduates are required for their skills in order to take care of the company as well as create a good image of the brand in the outside world.