Right time to do an MBA: Lets articulate!

When it comes to choosing a career, students are often perplexed over the future prospects.

Will my future be secured? Am I really interested in this line? Will it be beneficial for me? Is this career actually what I want in life? These are the questions you are likely to face when deciding upon your career option. And once you reach at the answers for these questions, the next question that crops up is that, ‘Is it really the right time to pursue the particular program?'

Is it the right time to do an MBA?? Investing time and money in an MBA programme in downturn can be tricky. This is the most natural question that strikes every student's mind taking up this most sought after course!

Determinant factors

There is no market timing to do an MBA. But there are scores of factors that influence the market for MBA's and determine the correct time for pursuing an MBA.

Experience: It is often considered that those who pursue this program after gaining experience are sure to be better placed than their inexperienced peers. But hold on! The question now arises after what level/quality of experience it would be worthwhile doing an MBA. 1-2 years of experience is optimum and >4 is dangerous as it won't give you any leverage.

Age: In India there is a trend/advantage to do it early so that you start an executive life early. But without the necessary experience, wouldn't it end up a more theoretical exercise with some gains in the short term? The ideal age bracket for studying the course is 25-28 years. Undoubtedly, starting early might help you in fetching good positions at an early age but it may not prove to be fruitful in the long run. Being on either end of age spectrum has its potential challenges.

In case, you are a student whose offer letter was recalled due to the slowdown, you could still go for an MBA. Since it will be difficult to get job-experience before the MBA, one could look at pursuing a part-time job in an industry of choice, while pursuing a part-time MBA. There are many good B-schools that offer part-time executive courses and other MBA courses. You can choose the one that suits you the best.

Those who are already employed can also think of taking up this vibrant program. In case the person is indispensable resource and the organization wants to retain him, the concern will further aid the person in his nourishment. This way, you would not have to scorch your pocket to go for the MBA. If not, you can always opt for educational loans that are easily available and need to be paid back only once you are employed.

Finding a job during a period of economic recession is bound to be tough for a fresh MBA grad as compared to a period of prosperity. But still, there are ample jobs available during the period of economic slowdown also. The only demand of the recession period is that the grads need to be much more proactive in their job search, the search being directed towards the hidden job market. This time period is actually the best time for learners to hone their skills. Acquiring additional skills will enable them return to a better salary and job-designation level than they were at before the slowdown. Upgrading the skill-sets would enhance the pupil's relevance to the job market. Recession is not a permanent feature and so the skills acquired would pay whenever the scenario improves.

The demand for MBA graduates has always been high and will continue to soar and the market is always looking for top talent. Even during the economic downturn in the wake of September 11, 2001, more than 90 percent of MBA graduates found a job.

With tremendous number of students graduating as MBA's, it is important to secure an education that is of the highest quality in a world-class school. This is sure to enhance your chances amidst the strong competition that you are likely to face in the job market. Thus, your chances of succeeding in your career would also increase manifold.

The right time to do an MBA is when you are mentally prepared to start the journey. External market conditions need to be factored into your decision, but they should not be the driving decision. Conditions come and are bound to go, but the MBA degree will continue to be of unsurpassed value.

Intellectual curiosity and learning should be the only guiding factors in the journey ahead!!

Source: Latika Leekha (Shiksha Team)