Most people think MBA as a fast money making machine which inturn becomes their main ideology for joining any institute be it a tier 1, tier 2 or for a matter any other institute providing them the required degree of MBA or we can say the degree to make fast money. People get so attached to this money making fact that they don’t realize the actual meaning of MBA. So I happened to ask the same question myself – Is MBA all about money? The answer which I got confused me so much that I thought to pen it down. And the answer was “YES & NO”. The majority will favor the “YES” however the answer is “NO”. Let me justify my stand:
Is MBA all about Money? – YES:
There is no doubt that the money is important for the sustenance of life but there are other ways of getting money rather than going for MBA. So why to spend so much time, money and, energy to get degree and then earn money. Money can be earned through lot other cheaper and less time consuming ways. For a certain group of people MBA can be all about money and this can give them a short term benefits but in the long run they are bound to collapse because they failed to focus on anything else other than money. So beware and don’t fall in this category of people before it’s too late.
Is MBA all about Money? – NO:
I need to come up with a real justification to defend this so let me start with a quote by Henry Ford – A business that makes nothing but money is a poor business. Let me rephrase it so that it makes more sense to an individual – A person that makes nothing but money is a poor person. People get so much engrossed with the fact that MBA is a money making machine, as stated earlier, that they can’t see what MBA is actually all about.
Some of pointers that can be useful to people to realize whether MBA is all about money or more than that are as follows. The decision to get value out of it is purely on people pursuing the MBA as they are mature enough to think wisely about themselves.
MBA is all about:
Career Advancement or Career Change: MBA comes in handy if one wants to have career advancement or career change. This is also helpful to break the management ceiling and gain a position of greater responsibility in current field. Majority of people lose this focus and land up in the Job that has good money but no career advancement in the long run.
Networks: MBA can enhance ones network through students from different states, Alumni, faculty, business leaders, groups, community, clubs, and what not. This is of utmost importance to a person pursuing MBA as its potential benefits can be reaped in long run.
Skills: MBA provides one with the right mixture of hard skills in the areas finance, Marketing, operation and soft skills of leadership, interpersonal, teamwork, ethics, and communication. One needs to focus the right set of hard skill and the soft skills to get the maximum out of the program. Hard skills are essential for any interview but the soft skills will help one to grab that opportunity.
Mindset: It helps to develop the wide mindset by having like-minded people around and it can really change one’s perception about many aspects of life. Two years of rigorous program can bring phenomenal changes in a person and which can make him/her to face any challenges with ease and confidence ahead in life.
To Sum, Don’t go for an MBA because of the money but take the plunge only to gain maximum value out of it. Having given so many pointers one will surely get a good amount of money provided all the pointers mentioned above are imbibed well within two years of MBA journey.
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