Landing and keeping corporate positions require extensive educational background. No one is going to hire applicants with little to no business skills, knowledge, and experience.
Therefore, those aiming to be in the top business corporations must undergo rigorous studies, training, and internships. A Master’s in business administration is the key to open opportunities in the corporate world. But, is it worth it? See its advantages and drawbacks.
Pros
- Networks
People who are inclined to business have one goal: to become a CEO. There’s nothing more satisfying than surpassing limitations and finally reigning at the top of the ladder, isn’t there? Being a CEO is one of the most hectic jobs in the world. You need to be capable of handling the CEO Responsibilities & Role. Leading a growing business empire is far from easy.
This is the primary reason networks are essential, especially those that begin even before joining the corporate world. A Master’s in business administration can help with networking. As students pursue their studies, they can build networks with fellow aspirants. Internships allow the students to work with different industries. In this way, there’s a higher chance of acceptance after graduation.
Aside from that, networks are beneficial when a business faces a debacle such as bankruptcy. Reliable networks can aid in building the company as well as sustaining it for a long time. There is no friendship in business, only guaranteed professional relationships with merit.
- Credibility
Another perk of an MBA is credibility. This is because schools which offer this program are most renowned and prestigious. They mostly have a history of producing successful business people in their time and are continuing to produce competitive graduates.
Moreover, it’s a plus during hiring. An MBA tells corporations that the applicant is knowledgeable. It’s just a matter of showing employers the degree of education, background, knowledge, and experience one has.
- Skills
Business is always a hands-on type of career. Lack of attention and negligence may cost a business millions of dollars. An MBA program offers all the necessary techniques and strategies to lead and build a business. With it comes tasks and challenges where one can apply business problem-solving skills to mitigate risky circumstances. Getting an MBA is an excellent opportunity to hone pre-existing skills and develop more to their maximum potential.
A business is not a game. It takes years to build but may take a few minutes to topple down permanently. There’s no guarantee that it will stand back up again.
There are many tips to survive in the business industry. One of them is realizing that expert skills are essential. No company will trust an applicant who doesn’t know how to adapt and overcome simple problems.
Cons
- Career Decline
Despite the sparkling and endearing benefits of getting an MBA, there are also disadvantages. The MBA career has been steadily declining over the years, and it was most evident when Covid-19 hit. Countries were on the brink of economic collapse. People struggle to do anything to earn extra income as the market was forced to inflate prices.
As a result, people became businessmen without degrees or whatsoever. Online selling became trendy, and start-up businesses were popping up everywhere. People learned to set up tricks and strategies to promote their products and services. The realization that one can become a businessman without an MBA or a business degree has caused people to ignore MBA programs.
- Opportunity Cost
Another disadvantage of getting an MBA is the opportunity cost. The program is very expensive, depending on the school which offers it. Instead of using money on tuition, why not use the funds for capital and start a small business? You could start earning and not have to shell out money for further education. A lot have succeeded in their start-up business without spending a dime on an MBA. This drawback discourages people not to pursue the program and just focus their energy on other own business or career opportunities.
- Not For Everyone
Apart from skills, business takes talent. It simply isn’t for everyone. No matter how much one spends on an MBA and how hard one works, some things don’t go according to plan. Many people have tried and still failed. You can determine this by exposing yourself to the business world early on. If you don’t like what you see, then an MBA program might just not be for you.
Conclusion
Aiming for an MBA career truly presents advantages and disadvantages. To understand better, check out these pros and cons. It pays to lay your path ahead of you before you even begin to take that first step.
