Thinking about doing an MBA? You must be having a zillion questions in your mind like which domain to choose, which college, online or offline degree, what are some of the online MBA courses in India etc. Well, let’s break it down into these five simple steps.
First things first, what are your future goals? More importantly, how is pursuing an MBA degree going to help you achieve these goals? We often get believed into doing something (by parents, friends or society), so thinking deeply about what you want to achieve will make it easier for you to decide on whether or not MBA is for you. You will mostly be leaving your job to pursue your MBA so wasting lakhs of rupees and being unemployed for one or two years is not worth doing it if you are not sure about it in the first place. Take some time off from your day’s activities, go to a quiet place and just think about what you want to do in the future.
Once goals are decided, think about which domain interest you. There are many areas of specialization in management like Finance, Consulting, Banking, Human Resources, Information Technology, Medicine and Biotechnology etc. Research on all these domains one by one. Look at what you can do after graduating, which companies might hire you and what kind of work you will be doing in such companies. Is it what lights up a spark in you or are you just doing it because you have heard that that’s what the “hot” field is right now? I am not saying that the field which is buzzing with money is bad for you, but what might not interest you now, might not interest you later as well. So chances are that you might not be willing to wake up every morning to go to a work that you don’t love.
Next step is to decide whether to pursue the course by being at the college in person, or doing it online. If you are doing an MBA to get promoted to a better position while working at your current job, then online MBA is the key for you. There are many good colleges offering online MBA courses in India. These colleges offer a myriad range of different domains so be sure to check them out properly.
If MBA study online is not your cup of tea, then you have to research on the quality colleges that fit your budget. Look at the top 25 colleges in India offering an MBA degree and calculate the expenses that you may incur in each of these colleges. Then research about the type of companies that come for recruitment there, their packages and finally decide whether it’s worth all your money. There will be a trade-off between cost and quality companies coming for recruitment so will have to make an educated guess here.
While you are shortlisting colleges, don’t go on the fact that this X college is known for Finance and I want to study Finance so let me go to X. All top 25 colleges will have good faculty and infrastructure and subjects that you will study will also be more or less the same. So, the right thing to do here is to go to that college which has a better ranking. I am not saying to go to a college which is not fit for you, but don’t also don’t give social stigma more importance than needed. Think about it this way, if a finance company goes to college X (which is the best MBA school for finance) for recruitment, then chances are that all the students in that college are also finance aspirants and your chances of getting selected in such a vast pool is limited. If you go to another well ranked college instead, which may not be known for finance, chances are that there will be a fewer number of people aspiring for a finance related job like you and you can see yourself getting placed in at least one of the finance companies that visits your campus.
There’s no hard and fast rule when it comes to choosing online MBA courses in India or domain for your MBA. I wish I could give you a detailed cooking recipe to it, had it existed. You have to know about yourself and the colleges you are applying to and take an educated guess. These steps are only to help you get thinking and initiate the process. The further hours and hours of research is to be done only by you.
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