For choosing the right MBA programme or specialisation, a candidate should be clear with the reason for pursuing an MBA and why he/she wants to pursue it now. Pursuing an MBA is appropriate for those who have a natural aptitude for business studies. It is very important for others to identify the purpose and need of a management degree. It should not be equated with high pay packages or promotions, as primary reasons. In addition to this, one should also consider the timing of pursuing an MBA, asking oneself if it is the right time for pursuing it.
Consider the following steps to make a wise decision for choosing the right MBA programme for you.
To understand the industry and market dynamics, a few years of work experience is essential. It also helps in deciding the MBA specialisation. Experience helps you know what the market expects from you as the objective of an MBA is to bridge the gap between market requirements and skills offered.
However, work experience is no compulsion but it has its benefits. For a fresh college passout, adequate market research and alumni feedback can help in selecting the right course.
Define your career goals
You need to ask yourself that do you want to continue in the same industry after doing MBA, take up a new domain, or start your own venture. It all depends on what you want. So you must keep a clear and focused view while searching for the apt course and college. Work experience plays a role in defining career goals.
Two-year (regular) or one-year (executive) MBA
The next crucial step is to decide which MBA do you want to pursue – a regular two-year course or one-year executive MBA. Major factors to be considered here are course affordability, peer age group, learning experience and career plans for future. A two-year MBA provides a much more in-depth course of study and learning experience. However, a one-year MBA will prove to be more beneficial if you have more than five years of work experience and intend to continue in the same industry.
Feedback and Research
Feedback from current students and alumni is vital to choose the right course. Alumni, college faculty, networking, placement statistics, all are important aspects that one must consider. You should also research market potentials, research the key and emerging areas along with volatile aspects. It is not wise to go for an outdated MBA course or specialisation when the demands of the market are different. A candidate must also check the viability of the course and return of investments.
Interest & Aptitude
As mentioned earlier, why you want to pursue an MBA is extremely important. You need to assess your strengths and weaknesses, whether you are a team player or an individual contributor, or if you are comfortable with extensive travelling, and so on. You need to indentify the best fit for you.
Also, One must also be clear about the difference between MBA and PGDM. MBA degree is necessary if you wish to pursue higher studies. However, top institutes offer PGDM (Post Graduate Diploma in Management) which may not be accepted internationally.