Friday 19 July 2024

Secure Your Career With An MBA from A Top Rated Institute

A Master of Business Administration or MBA as it is popularly known is one of the most prestigious and rewarding professional courses not only in India but the world as a whole. MBA graduates from top level business schools are highly sought after resources in the job market with organizations offering them high remunerations to get them on their payroll. Before we proceed further, it is of utmost importance to mention beforehand that an MBA degree’s worth is generally calculated by the brand value of the institute from which it is obtained.  A management graduate from top management institutes in Jaipur or for that matter well-established business school anywhere will command a premium in the job market whereas an MBA graduate from an inferior management institute is likely to struggle big time to find a decent job.

An MBA is a serious investment of time and money which means that you cannot afford to go wrong with it at any cost.  Tuition fee of this two year postgraduate degree program in management is runs into several lakhs. What it means is that the high tuition fee associated with the program will invariably compel majority of students in India coming from a middle class family to finance their education through education loans and sundry other means.

Let’s sketch out two different and distinct probabilities or outcomes of financing your MBA program through loans.  Student A manages to score exceptionally well in popular and well-known management competitive entrance exams like CAT or MAT. He gets interview call letters from few top rated management institutes and also does very well in group discussion (GD) and personal interview (PI) round.  His exceptional performance wins him the acceptance of a top rated business school and he gets a chance to study in its highly prestigious management program. The tuition fee for the entire program is 10 lakhs and he is financing his degree from the loan he has received from a bank.

Since he is studying at a top rated institute, he gets an employment offer from a top multinational corporation at the end of his degree program. He is offered a salary package of say 16 lakhs per annum. The initial annual salary he is promised ensures he is able to pay his loans and the interest associated with it within a couple of years of joining the workforce.

Now consider an entirely different scenario. Student B fails to score well in either CAT or MAT and as such is forced to seek admission in an inferior quality institute. This business school he has chosen unfortunately does not have the expertise or the infrastructure to deliver an education that is of any relevance in the job market. The tuition fee for the entire program is 8 lakhs and he is financing his degree from the loan he has received from a bank.  As the business institute where he will be studying does not enjoy a high brand value in the job market, the bank lends him reluctantly and that too at a higher interest rate. Since he is studying at a bottom rung institute, he fails to get an employment offer from a good firm at the end of his MBA program. He after much hard work manages to get a very low paying job. Under such circumstances, you can imagine how hard it will be for him to pay back his loan and all the interest it has generated.

In other words, best mba programs in Jaipur or any other place generate a very high rate of return where as a second string institute offers very little or if worse comes to worst no return at all.  This is why it is said that with the amount of time required for preparation and the high tuition fees, you simply cannot take a casual approach towards your choice of business schools. You need to study at a business school which offers top class infrastructure and facilities and an academic environment highly conducive to learning the theories and practical of management.