Completing an MBA course can be life-changing. If you look around, you can see that most of the top positions in leading companies are occupied by MBA graduates. This is true for most industries.
But, what can you do with an MBA degree? MBA is a career-boosting program that will give an overall improvement professionally and personally.
These days, an online MBA course is preferred over the offline campus course but that doesn’t lessen its importance and benefits. That said, these courses are not cheaper but they give a higher return that is worth the money, time, and effort you put in.
Benefits of Getting an MBA
MBA is a turning point in anyone’s career even if they are at the starting point. While there are several advantages of completing an MBA degree, the most prominent ones are mentioned here.
Salary hike
The primary and most prominent way this degree helps is with a hike in the salary. A good percentage of candidates opt for this degree to get a salary hike. The hike will also depend on where the degree is obtained from. So it is important to choose the school and course to achieve this goal.
Career boost
Professionals who want an immediate boost in their career usually choose an MBA course appropriate for their career. Successful completion is a definite way of seeing an improvement in their positions from a lower to a higher leadership position.
Reroute your career
Not everyone is in love with their present career. An MBA in an appropriate and popular stream or industry leads to a healthy rerouting of their career. The double advantage here is a career change with a significant hike in their salary.
Entrepreneurship
Whether it is a distance learning MBA or a campus-oriented course, an MBA will prepare you for entrepreneurship. It teaches certain skills and tools that are necessary to start a business making it easier for you.
ROI
Investing in any course is a gamble especially if it is a high-priced course. MBA is one of the costly courses but it is also one of the most assured courses that can provide a significant return on investment within a short period. The prospective ROI may change from one person to another. Generally, it all comes around to the other four advantages mentioned here.
Skills MBA Teaches You
Doing an MBA is necessary for management posts. It is an added advantage for career growth. At the same time, an MBS degree teaches you something that will help you progress as an employee and a human being as well. Here are some skills an MBA teaches you!
- Communication skills
- Data analysis
- Decision-making skills
- Emotional intelligence
- Entrepreneurial and innovation Skills
- Financial analysis skills
- Financial management
- Interpersonal skills
- Leadership skills
- Management skills
- Planning abilities
- Problem-solving skills
- Project management
- Strategic thinking
- Time management skills
- Understanding issues in the business world
MBA Career Prospects
An MBA is an investment for an ambitious person. It requires some motivation and hard work to complete it. The real challenge for the graduates is to find a suitable placement. These days, every industry requires some MBA graduates. So one must start thinking before enrolling for a course to find the best career.
Some career options you can choose with an MBA degree are as follows.
- Accounting
- Budget Analyst
- Business intelligence
- Chief Financial Officer
- Chief Information Officer
- Chief Operating Officer
- Entrepreneurship
- Finance
- Financial Management
- Healthcare
- Human Resources Manager
- Information technology management
- International Business
- Investment banking
- Management consulting
- Marketing
- Marketing Director
- Operations management
- Product Management
- Project manager
- Sales Manager
- Supply chain management
Types of MBA Courses
MBA is a collective term and you must search for specialized fields for better job prospects. You can do an MBA after graduating in any field. However, you must choose the right field and specialization for MBA. Some MBA options available for biology graduates are listed here.
The top fields for biology students in MBA are
- Agriculture Management
- Biotechnology Management
- Environment Management
- Healthcare Management
- Pharmaceutical Management
There are other fields where biology students can do an MBA. But they are slightly different fields than your basic academics. These are generic fields but they can be a good option for career diversification and still stay in related fields. Some options are,
- Applications of AI in Business
- Digital Marketing
- Digital Transformation
- Project Management
- Strategic Management
Conclusion
As most of the online MBA courses are offered by leading institutions and universities or are approved by them, the candidates will have the same advantage. MBA is the most popular among professionals who want a career change or boost. People also see these courses as a way of improving their network and getting expertise from the leading business schools. It is also an opportunity to brush up on your skills which will come in handy in the later stages.
FAQs
Which MBA job has the highest salary?
Investment banking, marketing consultant, and management consultant are the top three highest-paying jobs after completing an MBA. However, there could be other areas where you can excel and get a better salary.
Who earns more, a CA or an MBA graduate?
A Chartered Accountant earns more than an MBA graduate. A CA has better prospects as he/she gains experience. An experienced CA can earn much higher than anyone with an MBA degree.
Is an MBA tougher than a CA?
CA is tougher than doing an MBA. The topics covered is vast and wider for a CA course than in an MBA course.
Can I do an MBA after the 12th?
No, you cannot directly do an MBA after the 12th. You must have a Bachelor’s degree to apply for an MBA. You can take a degree in any field to do an MBA.
