MBA in India: Busting the Most Common Myths About MBA

  • By Sanjay
  • 11 July 2022
MBA in India: Busting the Most Common Myths About MBA

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What is an MBA qualification?

Does an MBA admission pay off? The subject is debatable and has been brought up numerous times. However, no one has yet reached a decision regarding the usefulness and significance of the best MBA courses in India.

Especially when it comes to education, we Indians are a competitive people. Our parents constantly compare us to our peers, whether we are children, teenagers, or adults. There is always someone in our network who is held up as an example of someone who is leading the ideal life and is infamously known as "Sharma ji ka beta" It is common to discover that this "ideal" group has an MBA. Many people are motivated by a competitive spirit to enter the race of earning a management degree, but do they all succeed? Do all of them receive a return on their labour, even if they succeed in reaching the end?

What are some common myths about MBA courses?

Even while each person's motivation for pursuing an MBA may be unique, there are some factors that are frequently given as to why Indians consider an MBA admission as a possibility.

If I earn an MBA, I'll take the lead in making decisions.

Getting out of the rat race is another of the most frequently touted benefits of an MBA. to climb the ladder and leave the execution job in order to take the decision-making position. But does it actually occur? It is true that an MBA course can provide you the skill sets you need to make that leap. However, this may not be the course that candidates should choose if they see an MBA as a cure-all for every organisational problem. Actually, no programme can ever truly get you ready for the corporate world. Many MBA graduates are hired as Management Trainees or at the bottom of the management ladder by organisations. It takes a lot of effort to climb the corporate ladder, and it's here that expectations and realities diverge. An MBA won't guarantee you a career managing important major clients or product portfolios. You'll need to put in a lot of time and effort to get there. If you view an MBA as an "easy solution," though, you will be let down. It gives you a platform to help you climb the corporate ladder.

Others seemed to have had success with it.

Have you watched the movie 3 Idiots? The narrative effectively captures the method most of us use to make decisions. Even though Farhan loves photography, his father pushed him to major in engineering. Then there is Raju, who decided to major in engineering since it would guarantee him a high-paying job and allow him to support his family. The key takeaway is that the majority of applicants base their choice of a particular course on the norms set by society. The judgement is based on the fact that someone else tried the same thing and received good results, even if the applicant is enthusiastic about something quite different. The fact that we are taught that a select few universities will determine our destiny is another factor to consider. Aim for an IIM and you'll live comfortably, for example, or "get into an IIT and your future is set." This thinking will undoubtedly bring us to our knees sooner rather than later if we continue to make judgments based on it. It's time to reevaluate your goals if you choose to enrol in an MBA course only because it appears to be successful for others.

MBAs make money, I can live with that.

Additionally, the statistics for those sought B-Schools that you'll see in the same newspapers don't accurately reflect the situation. The statistics are distorted by a small fraction of candidates receiving a fat-paycheck and the inflated figures presented by the B-School typically make up the average package. So what about the bulk of the batch? They do receive respectable parcels, but not enough to merit being featured on the front pages of the publications we read.

I intend to be an "Entrepreneur," not a subordinate.

You always work for someone, to be clear. Even though you may be fascinated by the entrepreneurial lifestyle, you will still be trying to either secure that funding or win over your board of directors or shareholders. If you have a concept that you firmly believe in, work on refining it, speaking with others who have "been there, done that," and trying to assemble a group of like-minded individuals. Being an entrepreneur is a skill that cannot be learned. Our recommendation is to concentrate on honing your company idea and invest the money in your startup if you are only considering a B-School to launch a firm. Consider taking an MBA course along the way to strengthen your education. Numerous non-MBAs have gone on to become prosperous business owners. Are Mark Zuckerberg and Steve Jobs familiar names? These names serve as further evidence that having an MBA degree is not a must for being a successful entrepreneur.

Is an MBA degree done after 12th? Is it a necessity?

Neither the qualitative aspects nor the quality of education can be printed on brochures and sold. Ironically, we discovered in MBA that numbers are important! Not only will the lives of MBA graduates improve if the curriculum is industry-focused and the emphasis is on giving students the tools they need to successfully negotiate the complexities of the corporate world, but the economy will also benefit from having a workforce that is more highly skilled.

Wrapping Up

When it comes to our educational system, there is much to be desired. The emphasis has definitely changed from quality to quantity in higher education, particularly in management education. The expectations of the candidates and the manner in which the best MBA courses are marketed differ significantly. However, by making sure we alter the way we view education, a lot of problems can be resolved. 

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