subject: Is MBA worth of money in present market conditions? [print this page] Is MBA worth of money in present market conditions?
Years before mba was considered as the hot degree to earn smart money as most of the corporate were eying the MBA graduates. Every MBA student had more than 5 high paying MBA jobs and the business school was making enough money. But the time has taken turn after the recession leaving most the MBA graduates jobless.
We have reached the time where we need to consider few points before taking admission in the business school, whether it after graduation or having some job experience.
What is MBA?
Commonly known as Masters in Business Administration is a one and two year post graduate degree offered by different universities. It provides theory and practical education about the practices in the business management i.e. corporate world. It is considered and to a very large extent true that MBA degree holders have better chance of being promoted early and getting high salaries.
Best time to have MBA degree
Some have opinion that just after graduation, they need t have MBA degree, while some have opinion to have it after a minimum of year of work experience. But the choice is never easy. The aspirants should make a clear idea why they want MBA degree.
Some person believes management degree is important to have promotion in the current job. Some are even believers that during the down time in the economy the MBA degree is waste of the money.
MBA trends
From 5,000 MBA degrees in 1960 to 1, 00,000 in 2000, the degree has got much importance. There was a time when the management degree was high reputed in the job market, but not is the case in the present time. The value has gone drastically done. The single reason is the more MBA pass-outs coming I the market with no or very low knowledge of the management theory ad practical approach.
ROI on mba degree
As per one salary guide, MBA is worth about $ 10-30,000 a year, but the salary increase will depend on the following factors.
How much time you have spent with a employer
The experience
Reputation of the MBA college
The job profile you are applying to
Location of the job
Conclusion
Whatever may be the reason for joining mba degree, don`t run straight into any business school, do the necessary research; look into the market reputation of the college and also the past placement. Most important will be the research of the industry interaction and the faculty.
