Overview: Increasing Popularity of MBA
According to a survey published by GMAC in Sep 2022, almost 90% of Business School students secured employment before graduating, indicating a high demand for their skills.
Despite concerns over a 2023 recession, 86% of business school graduates in 2022 secured employment at the time of graduation, marking an increase from 80% in 2021. The positive trend is attributed to the results from graduates who studied in the Asia-Pacific region and Europe, with 91% of Asia-Pacific business school graduates reporting employment at the time of graduation, compared to 78% in 2021.
These stats demonstrate that the demand for MBA graduates remains strong globally, with companies across various industries seeking to hire MBA graduates for leadership roles.
Therefor earning a Master of Business Administration (MBA) degree in 2023 can open up new doors of opportunity and accelerate career growth. However, getting the most out of an MBA program requires more than just showing up to class and earning good grades. In this guide, we'll provide prospective MBA students with practical advice on how to maximize the benefits of their MBA experience.
But first let’s understand the key benefits of an MBA degree.
Benefits of Obtaining an MBA Degree
An MBA degree can provide a range of benefits to students who wish to develop their professional skills and advance their careers. In addition to the commonly cited benefits, such as increased earning potential and job opportunities, there are several unique advantages of pursuing an MBA that are not widely discussed. Here are some ways in which an MBA degree can help students professionally:
Specialization: One of the key advantages of an MBA is that it offers students the opportunity to specialize in a particular area of business, such as the one offered at Himalayan School of Management Studies at SRHU. The School offers various specializations such as finance, marketing, human resources, and international business management. This allows students to gain expertise in their chosen field and develop specialized skills that are highly sought after by employers.
Network Building: MBA programs provide students with the chance to build a strong professional network, which can be invaluable in advancing their careers. Students can connect with classmates, alumni, and industry professionals, and attend networking events to expand their circle of contacts. MBA internships and job placements provide an excellent opportunity to apply classroom knowledge to real-world situations.
Himalayan School of Management Studies has a strong alumni network and has recorded a 100% placement record for MBA batches.
Leadership Skills: An MBA helps develop critical thinking and problem-solving skills, which are essential for analyzing and solving complex business challenges and making data-driven decisions. Hence, these skills also help MBA students develop effective leadership skills and take managerial roles.
Global Perspective: Many MBA programs offer international business exposure, which introduces students to different cultures, business practices, and markets helping them develop a global perspective and gain a deeper understanding of the complexities of doing business in a globalized world.
Entrepreneurial Mindset: An MBA can also help students develop an entrepreneurial mindset. Learning how to identify opportunities, assess risks, and innovate, are all helpful to create value for all types of organizations so whether a student start his/her own business or takes up a job opportunity.
After understanding the diverse advantages of an MBA program, the next crucial step is to comprehend the process of choosing the appropriate MBA program.
Selecting the Right MBA Program
When it comes to selecting the right MBA program, there are several practical steps which potential candidates can take to ensure that they make an informed decision.
Research potential schools:Start by researching potential MBA programs and the universities that offer them. Some ways of finding the potential programs and MBA schools are through online search on Google such as “MBA colleges in Dehradun” and search educational platforms such as Shiksha, CollegeDunia etc.The other approach to finding MBA colleges is through offline channels such as references from friends, family as well as listings in magazines and newspapers.
Reputation & Track Record: Once you find the 10 potential choices in a given area then you can explore the programs' websites and check the school pages to understand the key differentiators, campus, facilities etc. as well as MBA program pages to know about various specializations, program outcomes, faculty, and alumni network. You can reach out to current students and alumni to get their insights on the MBA program. They can provide you with valuable insights into their experiences, the curriculum, and the job opportunities available after graduation. You can also attend MBA fairs and information sessions to learn more about the programs and their offerings.
Evaluate the cost: It is essential to consider the cost of tuition and other expenses involved in doing an MBA program. Look into scholarships, grants, and other financial aid options that the school may offer to help alleviate the financial burden. Also, for some students, the school's location can be a crucial factor to consider. You may want to consider the proximity of the school to your residence, as this can reduce the cost of accommodations such as hostels or paying guests.
By taking these steps and conducting thorough research, you can find an MBA program that aligns with your career aspirations and maximizes the benefits of the degree.
The next crucial step is to know the process and steps for getting admission in the MBA college of your choice.
Getting admission into an MBA college of your choice
There are some specific steps you can take to improve your chances of getting admitted in an MBA program of your choice:
Prepare for entrance exams: Most MBA programs in India require applicants to take entrance exams such as CAT, XAT, or GMAT. So prepare well in advance by studying the exam syllabus and taking practice tests.
Highlight your achievements: Due to the intense competition for MBA admissions across the country, it is essential to make your application stand out. One effective strategy is to showcase your academic accomplishments, work experience, and extracurricular activities in your application. This will differentiate you from other applicants and demonstrate your potential to excel in the program.
Get recommendations:Some MBA colleges may also require recommendations from employers or faculty members and hence it is important to choose recommenders who know you well and can speak to your strengths and accomplishments. Make sure to give them enough time to write a thoughtful recommendation.
Apply early: Many MBA programs in India have a rolling admissions process, which means that the earlier you apply, the better your chances of getting admitted. At Himalayan School of Management Studies MBA admissions for 2023-24 are open and applications can be easily filled online.
By following these steps and putting in the effort to prepare thoroughly, you can improve your chances of getting admission into your desired MBA college.
In conclusion, earning an MBA degree can provide a significant boost to your career growth and open new opportunities. However, maximizing the benefits of an MBA program requires more than just earning good grades. Strategies such as networking and seeking out leadership opportunities can help you succeed in an MBA program and develop the skills needed for success in any business setting. By following the advice outlined in this guide, prospective MBA students can take full advantage of the opportunities presented by an MBA degree.
For admission enquiries specific to admission in the MBA program offered by Himalayan School of Management Studies, connect with us at +91-135-2471199, +91-135-2471135, +91-8194009631, +91-8194009632 or firstname.lastname@example.org.