The frenzy over an MBA degree nowadays is clearly visible in the educational spectrum. Students are flocking in great numbers towards MBA programs. Today, an MBA is considered as the key towards opening gates to thriving career prospects. But the question ‘Is MBA the key towards a fat pay package?’ continues to prevail because of the piles of colleges that offer MBA degrees. Does an MBA degree suffice to be the key to get a great package?
A number of students are often bewildered over the fact that even the IIMs that provide an average placement of 13-14 Lc Inr per annum are not sufficient to repay their loans that they undertake for the tuition fee of these prestigious institutes. A college cannot guarantee you a fat package; it is the student who has to work harder than anything to make things work out for himself.
Moreover, not all the students land up to be in the IIMs or the top B-schools of India. A number of them, the majority, take up MBA courses from private institutes across India that do not guarantee fat packages.
A substantial number of engineering graduates try to add up more worth to their graduate degrees by taking up an MBA degree at the next level. About 70% of the candidates enrolling in an MBA program are B.Tech graduates. There is a very hot craze of MBA among engineering graduates.
An MBA from a top school will increase the likelihood of a person's success in the corporate career. It is thus always advisable not to think only as a money minded person, but to have a proper understanding of the course and preparing seriously for it will make you bag a good college from which you can expect a decent placement, fat or not; depends upon you!
Tests like CAT and GMAT are useful but not sufficient by themselves to predict the potential of a candidate to succeed in a corporate career. There are non MBA entrepreneurs who are running colossal businesses all around the world.
It is not a disheartening thing for the MBA graduates, but the key to get a fat placement is not just you MBA degree but your personal analytical and logical abilities that are tested at the time of the placement. If a company plans to give a fat salary package to its recruits it will expect them to be the cream of the management graduates in India.
There are also loads of options for an MBA in foreign. Universities in U.S. and U.K. offer great programs in business. Comparing Indian and foreign education the only mark able difference is that in a foreign university you will have greater options for placement as there is a large expanse of HR companies and organisations that need MBA graduates.
The notion that an MBA degree is enough to make you stand apart from the crowd is wrong. Your degree is solely not responsible for your placement but the college, its reputation, student’s personal performance and abilities are what makes a fat package be yours!