Remember the night you could not sleep and you woke up and thought to yourself, “So, today it is!”, you dressed up, reached exam center, saw other hundreds anxiously waiting to write CAT, an exam that beheld their future. And when you walked out of that hall, didn’t you think that the war was over.
But it isn’t.
The results of most MBA entrance exams are out, and aspirants now find themselves in any of following 3 situations:
This article is for ‘Somewhere’ category of aspirants, the ones that have to answer a critical question for themselves, “MBA, this year or next year?”
Team Career2NextOrbit spoke to B-School directors, faculty members and students and here are 4 things that an aspirant must consider before answering this critical question for themselves.
1. Return on Investment:
Most of you will do MBA only once and this might be your last degree. Hence, to a great extent your career will depend on from where you start when you finish the course. And with the fee of schools rising every year, return on your investment is an obvious consideration for any aspirant.
So, as a first step, note down your best option for this year, your investment (in terms of school fee, and salary that you would forgo), and best case start to your career after this school. Similarly, note the specifics in case you drop this year, and the best case for next year. While this might give you some perspective, hold on and read the complete article to get a holistic picture and then decide the way forward.
2. Short Term Vs Long Term Career Aspiration:
Consider this: An FMCG Company while hiring from a tier 1 Campus, offers the position of Management Trainee and that management trainee becomes a Manager in span of 6 months to 1 year. Same company, while going to a tier 2 campus, offers the position of executive trainee and in best case scenario that trainee can become manager in 4.5 years. Finally, the same company when visiting tier 3 campus, offers role of Sales Officer and this set, in best case scenario, will become manager in 9-10 years.
So, with every step down in level of school that you decide to go to, the time to be considered is not just one year that you would be dropping but 4-5 years in longer career scheme.
3. Commitment to Performance in B-School:
Another thing that might help you decide is how you think you would perform in B-School. Too far-fetched? No.
Consider this: The package offered to top 20% batch of a Rank 10 school is more than that offered to bottom 20% of a Rank 1 school.
So, if you, considering other factors, do decide to get an MBA this year only, remember that your performance in the school can still put you at par with your originally aspired league.
4. Social and Peer Pressure:
Lastly, we have found many students getting influenced by the fact that their peers are doing an MBA this year. And that’s not the only reason, some others say that MBA for them is to escape marriage plans. And the list does not end here. But we won’t go on. The only reason good enough for you to go for an MBA this year is because YOU want it and it fits your plans for life in next 2 years and 35+ years of career to follow.
We hope you have better clarity now. Do reach out to us in case of any specific issue regarding MBA and B-School selection and we would be happy to help!
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