In today’s time when many would agree that a right skill-set holds more significance than a degree or a diploma course, there are many who still feel that an MBA degree is a prized possession. There is no dearth of applicants applying to MBA schools even though casting doubts on the merits of pursuing an MBA degree has become one of the latest fashions.
With millennial joining the workforce and flexible work on the rise, a majority of candidates are keen on living the life of digital nomads and taking up freelance gigs based on their hobbies and skill set.
In a given scenario, it might seem that degrees like MBA, which predominantly focus on imparting knowledge related to a business along with quantitative and analytical training, are losing their significance. This is, however, far from the truth. There is absolutely no difference in the number of candidates sending their applications to business schools. Having read that, you might want to question:
What could be the possible reasons for people to still consider MBA as one of the top degrees?
What are the reasons for candidates getting rejected by top-ranked MBA schools year after year?
The truth is that young people still remain passionate about pursuing MBA.
You might want to contribute money and power as reasons to making someone highly interested in doing MBA. It is generally perceived that all prospective MBA applicants are after money and power. While these reasons can’t be denied completely and they might be true in some cases, they are not always true and are necessarily not the only reasons in people wanting to do MBA.
The findings from different surveys reveal that the younger generation is interested in the actual learning and skill-set expansion. They are inclined towards gaining knowledge and acquiring skills that will help them pursue what they are most interested in. Furthermore, they want to expose themselves to opportunities that will help them make a transition into a new career or make career progression within the same industry. For the same reasons, the students are not at all reluctant in enrolling themselves in second- and third-tier business schools or even opting for distance MBA learning.
The younger generation, these days, looks forward to meeting new people and gaining an exposure to interesting work opportunities. Because an MBA degree guides them towards a path that guarantees them all these things in their careers and a lot more, why would they not want to explore this field of study?
While an exposure to interesting career opportunities remains one of the top reasons for candidates to consider studying regular MBA or distance education MBA, there are quite a many applicants who want this degree in order to have an exponential rise in their salary and pay cheques.
Because the business schools emphasize group learning, the students get to learn a lot from their fellow students. The fellow students become fellow alumni after the completion of a course, thereby, offering MBA school pass-outs the access to a network of influential head honchos, depending obviously on the choice of a business school and program. Access to such a powerful network is one of the most valuable benefits of pursuing an MBA degree and a reason strong enough for students to still want an MBA degree.
Leaving aside the candidates who have better career prospects as one of the reasons (direct or indirect) in pursuing an MBA degree, you’ll be amazed to find that there are many candidates who wish to study this masters degree in order to become capable of making a positive contribution towards society and make this world a better place to live in. Because the young people are very well aware of the fact that business schools make leadership and interpersonal skills a high priority, they make a quick choice of doing an MBA in order to get right guidance for the accomplishment of their goals.
The business schools are famous for conducting experiential activities with an objective of bringing students together by helping them analyze and understand their strengths and weaknesses. With an objective of promoting self-awareness, the activities conducted in business schools follow a completely different approach from the ones conducted in traditional classroom learning.
While the reason people want to or don’t want to pursue an MBA degree remains personal, it is crucial to determine whether the things an MBA degree offer align with your expectations or not. This is important so as not to have any regrets later in your career. It might help you to ask yourself:
Are MBA programs under your consideration specialize in offering leadership and management training?
What are the experiences of students who have already completed these courses and if they got any benefits by pursuing them?
Will the courses under your consideration help in honing your practical skills?