MBA is a post graduate degree; the full form of MBA is Masters of Business Administration. When an individual completes graduation there is always a dilemma whether one should go for higher studies or look for a job in the company and start earning money. Majority of students whether they are science or commerce graduate prefer to do Masters of Business Administration as it opens of plenty of job opportunities, however, at the same time it involves fees and time of an individual. In order to have clear understanding and remove the confusion of whether to do MBA or not, one should look at advantages and disadvantages of doing MBA –
Advantages of Doing MBA
Increase of Knowledge
An individual while doing MBA gets to do so many things because in Masters of Business Administration one does not get only theoretical knowledge but one also gets exposure to the real world through study trips to different cities or going to various industries in the same city, meeting other students through an exchange program and so on. Hence in a way doing Masters of Business Administration apart from increasing the theoretical knowledge also enhances the practical knowledge of an individual.
Value Addition to Resume
MBA helps in enhancing the resume of an individual and it’s a nice value addition to an individual professional qualification. If an individual is applying to MNC than having an Masters of Business Administration degree along with professional qualification can go a long way in ensuring that an individual gets selected ahead of other candidates. Hence in simple words having an Masters of Business Administration degree can do more good than harm when it comes to getting selected for a job in the company.
Master’s of Business Administration is done not only by commerce graduates but also by science graduates and engineers and the primary reason for doing MBA by professionals is that it gives individuals more career options. Hence for example, if an individual is the software engineer and is working in an IT company but after 5 years he or she feels that job is becoming monotonous and an individual is interested in going for investment bank job than having an MBA degree can be of great help to that individual.
Disadvantages of Doing MBA
MBA course is for 2 years and when an individual who is doing a job decides to do Masters of Business Administration by resigning from the job than this opportunity cost of not doing a job has to be taken into consideration. For example if an individual is earning $80000 per year and he or she leaves the job and after doing MBA he or she is unable to get good job than he or she will be in loss from two sides one is fees of MBA course and other is not doing job for 2 years and sacrificing on salary and growth in the company in which he or she was doing the job.
Lack of Quality Colleges
Another limitation of doing an MBA is that not all colleges or universities offering MBA program are good and if one does not selects the right college for doing Masters of Business Administration than there is no use of doing it as such colleges neither give good education nor provides campus placements. Hence in simple words, one can find plenty of colleges which are offering Masters of Business Administration programs but out of those only few provide quality education to their students.
Another disadvantage of MBA is that majority of people do it because others are doing and not for learning or starting a business. In simple words the majority of individuals do Masters of Business Administration for not gaining knowledge or starting their own business rather they do it because others are doing it or it is in fashion and they do not want to be left behind.
As one can see from the above that doing Masters of Business Administration has advantages as well as disadvantages and it depends on an individual whether he or she wants to do it for knowledge and career progression or just for telling the friends and family that he or she is an MBA.