Myths about MBA

While everyone has heard about the one million and one benefits of doing MBA, one hardly ever discusses or debunks the myths attached to this “magical” degree. There is so much controversy surrounding MBA and PGDM – which one has more value, which one will be recognized abroad and which one is the ticket to millions of dollars once you become an investment banker. The truth is (drum roll please), in the end it only depends on you. No matter how much you study or how hard you work, if you do not access your full potential you are leading a half-baked life, with or without a MBA. While it may sound very brutal, there is no denying that the right education and experiences always open the right doors, but don’t hold your breath! There are many other factors at play; let’s look at some overhyped MBA myths.

MBA plucks you out of the “masses” category and puts you in the “classes” category: Well some people think that simply doing MBA will make them conversation prodigies and networking geniuses, as they will know how to approach opportunities and create a leverage. Well, while these things may work in a professional environment, if you try to convert every social interaction into a professional opportunity, you will soon find your name being dropped from all lists.

MBA will finally give you the tools to implement that multimillion dollar idea: A lot o aspiring entrepreneurs think that if they go ahead and do their MBA before starting their own venture, then there is no stopping them. While it’s good idea to be positive and ambitious, it’s best to take off the rose tinted glasses in the start up phase. MBA or no MBA, it’s going to be a rocky ride – your idea may not generate the response you thought it would, you may have to shelve the company altogether or start from scratch for the third time in two years of operations.

It will all become smooth sailing and easy with MBA: Nothing could be further from the truth! It’s never going to be easy, especially after your MBA. Today’s corporate world is all about deadlines, strategies, crisis management and cash crunch. So if you think that life will be all about holidays and luxurious lunch meetings after MBA, then think again.

The degree matters, not the institute: Choosing the right institute for doing your MBA is extremely important, if you want it to add to your profile while applying for jobs. It is all about the institute, the syllabus and what you could extract from the whole experience. 

Tips to Succeed at MBA admissions

During the last year of graduation, most students are already either planning internships or doing preparations to get into a good MBA college. While it is a personal decision whether to start working immediately or do a post graduate course, both the options have to be thoroughly investigated before taking a final call. For example, if you want to look for a job, it is important to start scouting for companies that are hiring fresh graduates or the ones that have an internship program. Depending on the field of your choice, it is best to keep your options open. A lot of big corporate companies are looking to hire second or third year graduate students too for their summer internship programs. On the other hand, if you want to pursue a MBA from a recognized college or university, it is best to be prepared way in advance to ensure admission in your choice of institute.

Here are some tips:

1. While keeping your options open is a good idea, it is important to narrow down to at least three colleges that you would want to get into to do your MBA.
   
2. Once you have chosen the top three universities, the next thing to know is the requirements you need to meet to be eligible for admission. Remember, each college may have a different set of requirements.
   
3. The entrance exam is something that you need to prepare for way in advance. It is best to find out the details of the entrance exam, how demanding it is and what kind of score you need to get into the college of your choice.
   
4. It is very important to have all your documents in place at the time of admission. It is advised to keep several attested copies of all important documents.
   
5. Depending on the requirements, the next step after the entrance exam is usually the group discussion and personal interview. Some colleges may only need you to give a personal interview, while others may need you to participate in a group discussion.
   
6. You can get in touch with ex students to know what kind of preparation would be needed for the personal interview. Reading up on current affairs and having knowledge on various subjects are always plus points.
   
7. It is also very important to make a great first impression in the personal interview. Being well dressed, well spoken with your hair in place and shoes spick and span will make a good first impression.
   
8. While it is a good idea to be forthright and confident, steer clear from being too cocky or aggressive in the group discussion or personal interview. Put across your point in an assertive yet calm manner.
   
9. Don’t be disheartened if you don’t get into your first choice. The important thing is that you are pursuing your degree / diploma from a recognized college with good faculty, infrastructure and syllabus to kick-start your career.

Choosing the Right Career

There are a lot more career options today to choose from. At the same time, every field is a lot more competitive today. To make your mark in the professional world, you not just need an edge, but you also need a very strong differentiating factor that helps you stand out from the crowd. Just being moderately good at something is not going to cut it. And since it’s a marathon and not a sprint, it is very important to have a plan in place instead of just going along to get along or going with the flow. It’s amazing how some people can just say that they didn’t go and find a specific career but the career found them. If you belong to this category, where the right career choice just fell in your lap, then lucky you! But if you are part of the remaining population that takes a long time to know what they are meant to do, then waste no time and hop on the search.

Forget about what you “always” wanted to do and forget about what others always wanted you to become when you grow up. Now it is time to find out what you are good at. Are you good with numbers? Is your personality and wit your main plus point? Are you highly creative or do you have a penchant for languages? Sit down and write down on a piece of paper – make a list of all the talents that seem effortless and things that you are naturally good at.

Work without passion is definitely a waste of time. So ask yourself what you are really passionate about? Is it writing? is it coming up with creative concepts? Is it something logical and technical? Is it baking or banking? Is it music and the arts? Imagine something you would want to do all day, every day and it still wouldn’t feel like work to you – what would that be? Make sure to be realistic and honest!

Sometimes it is very difficult the gauge the details of an industry without actually getting into it. But if you really feel that this is what you want to pursue and are not sure how to go about it, then it helps to get educated in that specific industry vertical. Now you are prepared with a degree or diploma and can actually get a job in your desired field.

A lot of people wonder what should be the next step after graduation. Why study MBA when you can land an internship or a job? Well, there is no denying that nothing comes close to the actual work experience. But sometimes getting a degree of diploma can land you the right job to kick start your career instead of taking up an internship as an interim period employment.