Why Should You Do An MBA? Here Are The Top 40 Reasons To Do MBA In 2023

Do you often wonder- “Why MBA? What are the reasons to do an MBA?”. If you have just started thinking about pursuing an MBA, we are sure that you might not have answers to these questions yet. But it is vital to know the reasons why MBA would help you career-wise, which we will discuss in the next section.

Why MBA?

If you ask most aspirants who are starting their MBA journey, they may not know why MBA is the next step in their career. Sometimes, it is parental pressure, peer pressure, or assuming that all their career issues would be solved.

Unfortunately, these reasons are not strong enough to help someone get into a top B-school. Neither can anyone else give you the answer. It must come from within. That is why we are helping you gain some clarity by sharing not one or two but 40 reasons why MBA would be good for you!

Let us look at the topics that will be covered in this blog:

One of the primary reasons an MBA is essential is that it will help you climb your career ladder. Yes, that is right, the career ladder is a thing. And you need to go up the ladder if you are looking to be something in your life, workwise.

If you get the recognition you deserve, you will easily make it to a middle management position. This is when things start to get tricky. Promotions seem harder to come by. You have to add another 100% to your existing output, even when you are at your optimum, to prove that you are not just another brick in the wall.

This is precisely where an MBA from a top B-school can help you in your career. How? An MBA is a shiny tag that signals prospective employers that you have done what it takes. It tells them that you have that ‘much required’ cross-functional knowledge or bring a diverse perspective that you developed from engaging with your MBA peers.

Also read: A Definitive Guide to Post MBA Career Paths

Consider this situation: you have been in the IT industry for the past five years, but you realized that your true calling is marketing. You decide to enroll in weekend courses or take up internship opportunities to gain some marketing know-how.

Even after all this, you see that every job you are eligible for is only an entry-level job. This also means that you will take a massive pay cut to switch over to marketing from IT. And no one wants to do that. What other option do you have, then?

That’s right. Just get an MBA in Marketing!

If you look through the placement reports of major B-schools worldwide, you will find that many students switch over to a new career right after graduating. Their pay packages are significantly high as well. It goes to show that an MBA is a great way to switch over to a different career.

Also read: What to Do After MBA: Here’s How You Can Become a Marketing Manager

Getting an MBA through GMAT at a top B-school is like having a buffet at a restaurant. You take a little bit of everything in the beginning. But, you only take second helpings of the stuff you like. In other words, when you start your MBA program, you will study a bit of everything.

Gradually, you will be allowed to choose and study just what you want, like the second helpings that you take at a buffet. These will enable you to explore the subjects you like in more detail after getting a basic understanding of all your options in the beginning.

Besides, MBA programs use classroom discussions as a teaching method. The faculty members encourage debates and discussions so that students can learn from each other’s experiences and perspectives. You will be exposed to the overall knowledge of the business from different areas like Marketing, Finance, Sales, etc. Case studies, presentations, projects, and research papers are also common teaching aids used in MBA programs.

What is it that an MBA gives you that no other course can match? An MBA gives you the confidence to be somebody who matters professionally. And how do you get this confidence?

A reputed B-school program gives you the opportunity and makes you think in the direction you want to. You may have had many goals before joining an MBA. But you may realize your true calling only once you join the course. And this is personal growth.

The entire classroom experience, interaction with faculty members and peers, student activities, case studies, all these may radically change your perspective, both personally and professionally. Many MBA students discover a new person in themselves once they graduate from business school.

Let us make this clear – It is not WHAT you know but WHO you know.

We will give you a simple example to understand the aforementioned point.

Everyone who has ever graduated from Harvard Business School will have the ‘HBS Alumni’ tag. They may or may not have studied together, but if a Harvard alumnus receives an email or a job request from another Harvard alumnus, or is interviewing a candidate who went to the same school, they will bond immediately.

And this will come in handy if you are looking for placements. If you have got a job offer from a company, but want to know more about the people or culture and even when you are looking for a job change or even when you are looking to start a business! You never know who will be willing to join you just because they know “where you are coming from.”

So, while an MBA can connect you with other brilliant minds, it is up to you to decide how to take your connection forward.

When you do an MBA, wouldn’t it be a better option to do it at one of the top B-schools?

Someone from Harvard doesn’t need to “prove” himself as hard as someone from a lesser-known institute. It is immediately granted to the former, purely based on the pedigree of the institute.

Recruiters are aware of how difficult it is to get into a top B-school, so an MBA from such a school holds a lot of brand value.

Also read: GMAT Strategy: How to Think Like a 760-Scorer

If you get an MBA from a top B-school, potential employers already know that you have cleared the first level of acid tests: high GPA, high GMAT score, great essays, glowing recommendations, and tough admission interviews.

You must keep in mind that this brand equity can only open doors for you — after that point, you have to prove yourself. And this needs to be done throughout your career. And everyone does it.

There must have been instances when you wanted to move to Australia or Canada or any other foreign country to work there. Often, the biggest obstacle to doing this is finding a job abroad that will make such a move possible.

Also read: Is an MBA in 2020-21 Worth It Amidst US VISA Bans and Looming Recession?

In all probability, a job similar to the one you currently have will not offer a salary that is viable for you. So, you need a job that’s at a higher level. The problem is that you’re not likely to get a promotion or a job in a different field abroad that easily. If you don’t have exposure to the local markets, getting a job at a higher position in other countries is nearly impossible.

To get a job that can make a living abroad viable, you’ll need a job that pays well. An MBA, say from Stanford School of Business or INSEAD, can help you land such a job.

An International MBA from a top B-school can help you understand the market, increase your international network, and learn everything you need for an international career. This, in turn, makes it easier for you to find a suitable job, allowing you to live a successful life abroad.

Moreover, during your MBA, you will be given time to gain experience through your internships. And this is an opportunity for you to get a first-hand experience of the kind of work you are looking for in the future. This opportunity will also help you build contacts that will be of use later in your career.

Almost every year, new technology arrives and disrupts the existing norms. And with the COVID situation, several industries are trying to adapt to the ‘new normal’ lifestyle.

What this means is that unless you are adept at constantly improving yourself and walking side-by-side with the market, chances are you might be left behind. That is why an MBA can be a useful tool that will help you learn and upskill yourself.

In a B-school, you will learn the necessary skills to help keep a company or your start-up successful. While your preferred program may differ, but generally, MBA will help you develop these competencies:

– Develop leadership skills
– Understand the market and release products and services
– Improve people management skills
– Create effective network
– Gain insight into crisis management
– Make informed decisions

These competencies are wonderful assets that can help you thrive in your career, but you need to step out of your comfort zone. Once you cross that threshold, a world of opportunities will open up to you.

Also, with an MBA, you will be prepared to face a challenging business environment. How may you ask? B-school curriculums are designed to test and challenge you at every step. It is not a breezy ride, but at the end of it, you would have gained the experience to handle challenging situations with knowledge and experience.

A good salary is a great incentive for you to work and devote as much time and energy as possible. With an MBA, you are assured that you get a salary that fits your expectations and needs. With an MBA degree, you will receive at least twice as much salary as someone with a regular university degree.

This salary hike is because most successful companies value MBA graduates and what they can offer to the organization. These MBA graduates will be able to spearhead and adapt for the future with changing business landscapes. That is why companies offer lucrative salaries to talented MBA graduates.

Speaking of lucrative salaries, 2019 saw one of the highest median starting salaries of MBA graduates at $ 115,000.

What do Richa Kar (founder of Zivame) and Supam Maheswari (founder of FirstCry) have in common? Both are successful entrepreneurs with an MBA degree.

A quick search would reveal thousands of entrepreneurs who have either become very successful or, in the making, have completed their MBA. It seems necessary to pursue an MBA because you will learn HOW to start and grow a business.

Also read: Top 10 CEOs with an MBA Degree

Let us warn you that starting a business is more than just hard work. There are a lot of variables involved. That is why, if you are equipped with the right knowledge from a reputed B-school, you will be leagues ahead in terms of understanding the various divisions of a business- operations, marketing, sales, etc.

In a B-school, you will meet professors who have a lot of experience in business, and apart from teaching you the fundamentals, they will also help you realize the traps you should avoid. Equipped with this knowledge, you will also get the chance to interact with several of your peers who would also have brilliant ideas of their own.

Once ideas combine and clash, you will refine your thought process and might just happen to find your future business partner!

Also read: MBA Admissions Committee & Venture Capitalists: 5 Aspects They Look For in Their Prospects

Consider this scenario: you are performing well in your career and have a good understanding of your field. But down the line, you realize that you could improve upon your understanding in your subject area to step up in your career. One of the best ways to do it is with an MBA.

Several B-schools around the world offer various specializations aimed to provide in-depth information about the management stream. These programs will help you gain tremendous insight and gain a wider perspective towards the problem at hand.

Ask any MBA graduate, and they will tell you the wealth of experience and knowledge that they have gained and how that helped them see the world in a better light. Armed with acute knowledge, soft skills, network, you will be in a better position to leverage your career unlike ever before.

Your MBA will equip you to view a problem at a macro level and utilize all the information you have gathered while in the B-school to apply real-world solutions. Every B-school worth their salt would always emphasize learning both inside and outside the classroom. You would do this by collaborating with other like-minded individuals with different experiences and levels of skills.

This collaboration would help you manage people and leverage their expertise to get the job done- be it a B-school project or handling a million dollars project.

Also read: 6 Traits Top MBA Programs Look For – #5 Overall Personality

Many MBA alumni can vouch that an MBA degree from a reputed B-school can open doors of opportunities and help you build professional credibility. We hope you realize that while other university degrees will also help you find opportunities, they would be lesser than what an MBA can do for you.

Case in point, an MBA would speed up your career towards a decision-making position. Why? Because your organization knows that you have gained the required expertise and skills that would make you a better manager. In other words, you gain the respect you deserve.

Also read: Which MBA Rankings Are Reliable?

Leaders are made, not born.

A reputed B-school does not only impart you with knowledge in their classrooms but outside it as well. In a B-school, you will participate in several team activities, clubs, extra-curricular activities, and community programs where you will learn the valuable lessons of teamwork, leadership, public speaking, deliberations, and negotiations.

These skills are not only crucial for life but also in your workplace. These will be the bonus that you will offer to your organization, which will invariably mean that you can climb your career ladder higher.

Also read: Selecting the Right MBA Program – 6 Factors to Consider

Several leading companies worldwide like Apple, Deloitte, Amazon hire from reputed B-schools like Wharton School of Business, Harvard Business School, Schulich School of Business, etc.

These companies, much like several others, often have a prerequisite of an MBA either at an entry-level or after a particular position. This means that if you do not have an MBA, your progress would be halted.

If you are keen on career options like Consulting and Finance, let us inform you that an MBA degree is a prerequisite if you wish to advance in these industries. So, what do we notice? An MBA would be the hammer that helps you break the barriers into the corporate world.

Did you think that MBA is a young person’s game? You are in for a surprise. B-schools do not think of your age as an essential or decisive factor during admissions. Of course, some courses are specifically designed for freshers and experienced professionals.

This distinction exists to accommodate people from different walks of life to get an MBA degree. It is a seminal experience that serves as a bridge to advance you into leadership roles.

Also read: Should I Get an MBA After 30?

Your MBA degree from a reputed B-school would be recognized worldwide. An MBA would prepare you to work in any environment and country. This means that no matter which country you go to work post your MBA, you would be able to utilize your skills and create a lasting impact.

Also read: MBA in India vs. MBA Abroad

With changing times, MBA programs too have taken a global outlook. Now, most MBA programs focus on international exposure and experience. That is why, almost every program has its version of an abroad trip where students learn more about business in another country and get a peek into their culture.

Take the case of ISB YLP. They have a TriSep program that allows their students to visit the top B-schools of Asia. To know more, read the blog: ISB YLP: The Guide for Every Fresher’s MBA Dreams!

Pursuing an MBA degree can be a lucrative way to move and work in your favorite country or city. Several students choose an MBA program based on their location and with a long-term view to stay and work in that location after their MBA. However, you should be aware of visa regulations if you plan to stay after graduation in a different country.

Also read: Study Abroad: Top 4 Reasons to Do Your Master’s Abroad

Typically, a full-time MBA is for two years, but many B-schools also offer their students the flexibility to study as per their choice. This means that you can choose to pursue your degree part-time or even online. And that not all. Business schools like Schulich School of Business provide an option to complete your degree in either 16 or 20 months.

Also read: How To Choose Between a 1 year vs. 2 year MBA Program

One of the key learnings of an MBA program is the richness outside the classroom. This means that you will be exposed to various challenges, connect with people from different backgrounds and socio-economic scenarios, and communicate effectively. You will learn to gain a global perspective on common issues that will also help you plan and strategize efficiently towards the problem you will face after your MBA.

Different B-schools go the extra mile to help their students in the business world. You will gain fantastic internship opportunities and get to interact with talented people who will create a lasting impact in your life.

A good B-school is only as good as their students. With an MBA program, you interact with a talented bunch of people who will create a name for themselves. Also, they will help you understand a topic or discussion from a different perspective that you have not considered previously.

An MBA program will help you analyze any company from many different perspectives and develop the ability to understand their strategy, operations, and performance. This is a vital talent that will help you become an effective businessman/ woman.

An MBA program will open doors for you to interact with the top leaders across the world. And with several seminars and events, you will be able to grasp their knowledge and impress them along the way!

If you look closely at the life of any successful person, you will realize that they did not achieve fantastic results all by themselves. Every successful person would require a mentor who can guide them in the right direction, accelerating their growth and potential.

An MBA would help you meet talented and experienced business leaders across different platforms and interact with them on a deeper level. Think about it; if you get a chance to meet someone who is phenomenally successful in your desired field, you will get to learn a lot from their experiences and insight, which previously would not have been possible.

This opens up a world of opportunities and learning that you can now utilize and create your success.

Also read: How Personalised Mentoring Led to a 100% Scholarship & Stipend

An MBA degree would be the icing on your resume that nobody can ignore. Keep in mind that the level of importance of your MBA degree would also depend upon the reputation of the B-school you attended.

This means if you follow a Business School like Harvard Business School or Stanford School of Business, your resume will automatically contain more weightage for any employer that you wish to work for. This gives you the negotiating power to ask for a better position and better salary than others.

Interested in policy work at the World Bank, the Federal Reserve, or the IMF? If you wish to choose this unique track, let us inform you that previously a PhD was required but not anymore. You can do that with an MBA as well. Case in point, MIT Sloan School of Management organizes a career trek to Washington DC, which would be a great boost for your career.

Consider the scenario: you’ve been working at an organization for several years now, and you are compensated based on your experience and skills. However, you will realize that after a point, you reach a plateau where it is difficult to progress ahead.

In such a situation, an MBA would help you bridge the gap between stagnation and your success effectively. Once you complete an MBA program, your employers and your organization begin to reassess and revalue your impact in the company. This means that you would now be considered for better opportunities which would invariably mean greater pay.

We all know that the world of business is constantly changing. With the COVID-19 situation at hand, different industries respond to the new normal differently. This presents the opportunity to look at the current situation without silver lining and adapt to the present time.

An MBA degree provides you with the required skills to adapt yourself by incorporating technical and conventional knowledge about the business world. You will have the ability to lead and manage in a complex work environment with the confidence to make decisions that will push transformation.

An MBA offers you a unique combination of academic rigor and business relevance. Any other university education does not provide a real-world experience.

With an MBA, you will experience a unique combination of knowledge with practical business experience that will help you make effective decisions in an organization. You can make effective decisions because you have experienced a wholesome experience at a Business School that has improved your decision-making abilities.

Do you know what it takes to survive in the cutthroat world of business? Pushing boundaries. That is what successful entrepreneurs and CEOs are constantly doing. If you wish to join that elite league, you need to be a world-class performer. And an MBA can be the fuel that helps you propel faster ahead.

With an MBA, you get to walk away from the conventional path and move past your limits. You get to work in a fast-paced world and create a lasting impact.

Do you know what is a ‘covered period’? It is the time that you take to experiment and take risks without anyone enquiring what you were doing at that time. Sounds fun and exciting, right? This is what an MBA can offer you.

Think about it; you can explain that gap in your resume (assuming you have) and explore the world of possibilities with an MBA. Even if you have no gaps, an MBA offers you the opportunity to explore various options that you might not have considered before.

You may have many assumptions about yourself and your capabilities, but an MBA program will help break away the unnecessary mold and keep what is needed. In other words, an MBA will expose you to a wealth of information that you would not have known previously. And this is not just inside the classroom but outside as well.

Here you will realize that there is more to the world than you previously thought. This revelation will help you become a better person, accept others and their opinions, and become an effective leader.

If you think about it, you would only work for a total of forty years- starting from your 20s. What this means is that you have a small window where you can make an impact. Now, if you are unsure about your future, it is okay. But what is not acceptable is to be uncertain for a very long time.

That is where an MBA comes into the picture. Here you will learn a bit about many different subjects, interact and work with different peers and gain a broader understanding of the world. These opportunities will offer you the chance to know and refocus on your life and your priorities.

Consider this- most of us are in a rat race and an MBA program, with its school-like education, offers us a chance to escape the grueling reality into a different world. Here, we can unlearn and absorb a lot of new information, which would help you re-enter the race but better equipped.

As per the GMAC Corporate Recruiters Survey 2020, recruiters hired 77% of MBA graduates during the pandemic in 2020, and this year, they are planning to hire 89% of MBA graduates. These numbers are encouraging, considering the pandemic had hit everyone across the globe, which meant a shortage of jobs. But that is not true if you have an MBA.

Every B-school provides its students with scholarships that would help them financially. These scholarships become important for you if you wish to pursue an MBA abroad. Now, different B-schools have different requirements for their scholarships. Sometimes, they may ask you for specific documents or essays, and other times, your application would be analyzed.

Also read: All You Need To Know About MBA Scholarships Offered By Top B-Schools

Most students with a non-professional graduate degree would notice that there is not much demand for generic profiles. This means that it will be harder for them to find jobs that they would love. While we do not advocate that everyone needs to have specialization like Engineering or CA, we do encourage students to include technical knowledge in their resume.

One of the lucrative ways to do so is with an MBA. Again, we will mention that you do not need several years of work experience to do an MBA. Several B-schools like the Indian School of Business offer special programs like their YLP or Young Leaders Program, directed towards college graduates. We urge you to consider your options carefully and choose a program that would suit you.

Also read: How Did A Fresher Achieve His ISB YLP Dream? And how you can do it too!

Finally, getting an MBA would exponentially increase your earning potential. Think of an MBA as a long-term investment, and the sooner you invest in yourself now, the better results you will get in the future.

Please keep in mind that your MBA would start giving its returns in your 30s-40s. This is because by then, you would have gained the requisite experience needed for your MBA to help and raise your level of competence.

Also read: What is the ROI of an Executive MBA?

For those of you who wish to pursue an MBA in your 30s, it is still a great investment now; you already have several years of experience behind you to help you navigate the business world and find yourself in a leadership position where you can make impactful changes.

Now that we have given you the 40 reasons to do an MBA, you will now surely know why you should get an MBA. But hold on, here are four things you should do before you begin your MBA process:

i. Take your time and think about how an MBA can benefit you
ii. Then take a call on whether it is worth pursuing
iii. Once you make up your mind, you will need to decide whether to get an MBA in India or abroad
iv. Then decide whether to take the GMAT or the GRE.

We hope this post has made a positive difference to your MBA plans!

If you’d like to share what works for you and what doesn’t, please leave a comment in the comment section below.

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