Indians have proved themselves in every aspect and the business in one of them. Most reputed companies now have Indian-origin CEOs. Recently Raj Subramaniam joined the elite list when FedEx announced him as the new CEO of the company. Indians have created a remarkable impact on international business and become a change-maker. According to some reports, around 33% of CEOs of fortune 500 hundred companies are Indians and 10% of Indians are CEOs of leading tech companies in the world. The list of top Indian CEOs has become quite long in the last few years.
These CEOs of foreign companies are of Indian origin and they are doing their job better than many out there. These people have not only maintained the decorum of their company but have innovated ways for the firms, giving them better escalation in terms of profits, proficiency and profoundness.
Indians are making their presence count around the globe in every single field. May it be finance, economics, technology, science, peace-keeping, politics or anything else; we Indians know how to bring every eye in the room to us. And these few CEOs are no exception to this trait. These CEOs who are Indians by birth are one of the most renowned and successful ones.
Along with being Indian, there is one more thing common in Indian CEOs, most of them are MBA degree holders. Some are from Indian colleges and others have completed their management degree from international colleges. Management degrees help them in enhancing their skills, attitude, and leadership quality. All of them are doing great and become pioneers in their respective fields. You can count them in the list of top MBA personalities from India.
The Cost Of Not Getting An MBA
Applicants often dwell on whether getting an MBA is worth the price-tag — and rightfully so. But it’s also worth contemplating the cost of forgoing the degree.
COVID-19 has sent the global economy spiraling into a recession that has affected many of us.
During times of financial strife, it’s normal for people to react by tightening their purse strings. We often become more inclined to guard our nest eggs, and less likely to shell out our savings. However, at least one big-ticket item has bucked this tendency during the current recession: an MBA degree.
While questioning its value is important, perhaps we should also start asking ourselves another question: “What is the cost of NOT getting an MBA?”
A Thought Exercise Worth Doing
Before writing off the degree or staying stuck in “analysis paralysis,” which can also have negative consequences, We encourage you to engage in a thought exercise. Ponder what you would hope to gain with an MBA, such as a dream job with meaningful impact. Write that down. Next, think about what you could feasibly accomplish without one — write that down, too. Compare the two — what are you losing? Is that worth forgoing? Will pursuing this degree be something that you regret later?
If we are focused on the potential benefits, we’re likely to take the action, thereby approaching the positive. If we’re focused on the potential costs, we’re likely not to act, thereby avoiding possible dangers.”
Cuddy stipulates that power makes us approach challenges, and powerlessness makes us avoid them. “How does this relate to applying to business school?” you might ask. We would encourage anyone toying with this life-changing decision to take hold of the steering wheel. Contemplate the cost of going and not going, as opposed to pushing the question to the back of their mind and procrastinating for the safety of the status quo.
Dramatic Increases in Earnings are an Obvious Advantage
It’s also important to note that a recent study examining the reasons behind people’s regrets revealed that our strongest regrets concern not living up to our “ideal selves” — or becoming the person we wanted to be. We must lament not becoming the person we aspired to be, rather than not becoming the person we were expected to be.
Even the most conservative estimates of the earnings potential of a top MBA make a no-brainer case for the degree. The most thorough analysis, though dated since it was done six years ago, found that a graduate of a top 50 MBA program made $2.3 million in salary alone during a 20-year career span (see The Most Lucrative Seven-Figure MBA Degrees). That is $1 million more than someone with just a bachelor’s degree.
One of the top motivations for getting an MBA is to make a career change.
In fact, employers understand MBAs will most likely be looking to make a career change. MBA programs have been a common source of talent for companies for many years, including fresh and sometimes, non-conventional talent.
First, let’s define what a ‘career change’ means.
There are three primary dimensions of a career change: geography, industry, and function.
In general, changing one dimension has a higher probability than changing three dimensions. Many MBAs can change one or two dimensions, and even three-dimension changes happen occasionally.
So, is it better to pursue an MBA, or should I just apply to jobs in the new sector? It depends!
Employers are looking for transferrable skills and new skills acquired during the MBA program when evaluating career switchers.An MBA is a good way to pick up new skill sets to make you an attractive candidate. One of the more common scenarios is engineers that are looking to make a career switch. By picking up new skills in marketing, operations, finance, strategy and HR, an engineer can pursue a broader set of roles after completing the program.
This is just one example and the same applies to other categories of career switchers.
New Networks
In addition to new skills, an MBA will allow you to develop and extend your network.Networking is the most effective way to find a new job, especially for career switchers. Many times, HR is not open to career switchers, but by networking within the organization, you will be able to open doors. If someone in the organization recommends a candidate, HR will most likely include them in the recruitment process based on the recommendation.
During your MBA, you will meet classmates, alumni and employers. Your classmates will be a valuable resource for the rest of your career for finding new jobs, finding business partners and finding funding for start-ups.
Exposure
One final benefit of an MBA for career switchers is exposure.Many times, students find their direction during the program. Through their classes, career services office or classmates, they discover a career path that they had not even considered previously.
The best way to present your career change plan to the admissions committee is preparation.
The committee understands that you may change your mind as you discover new opportunities. As part of the review, the committee is evaluating that the candidate has thought about their skills, motivators and interests; that they understand themselves. Also, the committee is evaluating that the candidate has thought about the job market and the skills required. The key is to demonstrate understanding of yourself and the market and also, to demonstrate realistic expectations. The admissions committee will appreciate honest, thoughtful and coherent answers to all parts of the application including career expectations.
What an Employee with an MBA Brings to the Table
So, why are MBA graduates so employable, and what do companies get out of hiring and investing in their MBA talent?
MBA graduates see the big picture
When we work for one organization for some time, it’s not uncommon to lose sight of what else is happening in the business world. MBA students spend significant time analyzing businesses, developing a broad understanding of what others are doing, what has worked, and what has not worked. As a result, they graduate with an up-to-date understanding of the business world and the complex issues associated with it. Through the process of analyzing and solving these business issues, an MBA students’ ability to think strategically is challenged and refined.
MBA graduates think long-term
Employers are seeking employees that will assist in the long-term growth and sustainability of their businesses. Thanks to the comprehensive and integrated nature of the course content, students develop an understanding of how each business function (or department) operates, and how company decisions can affect each function. An MBA’s holistic understanding of a company will mean that he or she can contribute to achieving a sustainable position in today’s changing business environment.
MBA graduates possess valuable leadership qualities
The practice of leadership and the development of leadership qualities is something that MBA students engage with all throughout their degree – from start to finish. Studying with AIB, Leadership is the very first subject that students undertake, and this helps to lay the foundation for developing an understanding of how leadership integrates into all the future subjects they will study. Studying online, students are quickly able to apply these learnings to real-world business situations in their work, helping them to make an impact with the MBA as they continue to study.
Upon graduation, MBAs will have developed a holistic view of the business world, and as a result, they’ll be better equipped to lead through the broad lens of business, rather than just their department or area of expertise. This promotes a more cohesive, considered and collaborative workplace culture.
Due to the challenging nature of the MBA, students will also develop greater self-discipline and problem-solving skills, their communication skills will greatly improve, and they’ll experience a boost in confidence. These are just some of the qualities and development outcomes MBA students gain, all of which help to make them better leaders.
Additional Info: Why Are MBA Salaries So High
Get Help from Leap Quest on Your MBA Applications!
Leap Quest will show you how to proactively address each potential ding and increase your chances of earning an acceptance letter. Adding dimension to your profile isn’t easy. There are no quick fixes to the dings we’ve discussed in the article above. Self-awareness is your secret weapon in the battle for a spot in the most competitive business schools. The better you understand who you are, what you’re motivated by, and what makes you unique, the easier it’s going to be to communicate those things in your application.
Leap Quest has developed a comprehensive program to help you to formulate an inspiring career vision, career goals, and career action plan. If you define your career goals in the way we recommend, you will be prepared to convince admissions officers that you have the capabilities, passion, and purpose to achieve something significant in the future.
Leap Quest MBA Admission service includes all elements of MBA applications that consist of:
- Shortlisting the list of target B-Schools
- Guidance in building MBA application essay write-ups (how to draft essays for MBA application)
- MBA essay editing and guidance in organizing any other aspect of MBA application.
- Guidance in preparing CV/Resume
- MBA Interview preparation service in the event an MBA applicant gets an interview call from a shortlisted B-School
- Any other related part that is inside the scope of B-School application process
- Social Media Consulting
- LinkedIn Assistance
- Drafting Scholarship letters
- Application Form Guidance
We’re determined to get you the admit you deserve. Our question is, will it be yours?
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