A Master of Business Administration or MBA as it is popularly known is currently one of the most valued, prestigious and rewarding professional courses in India as well as across the world. Modern businesses operating in a highly competitive business environment require the services of management professionals who can help them gain a competitive edge in the marketplace. MBA graduates as such from top level business schools in Mumbai or for that matter top rated business schools anywhere in India are highly sought after resources in the job market with big organizations more than willing to pay them top money to hire their services. However, it is imperative to remind all MBA aspirants in the very beginning that the true worth of an MBA degree is directly proportional to the reputation and brand value of the management institute from which it has been obtained.
A management graduate from a top rated business school is most likely to command a premium in the job market whereas an MBA graduate from a second string Institute is most likely to find it extremely tough to find a decent job post completion of his studies that can justify the investment he has made in pursuing the degree.
An MBA is a serious investment of time and money which means that you have to get it right the first time. The tuition fee of this popular two-year postgraduate program often runs in lakhs which means that a large majority of students will finance their study through an educational loan. The absence of a decent job post completion of the course can make it incredibly tough for the students to pay their loans and other liabilities accumulated along the course of study. We can best illustrate the importance of studying in a top management college which generates rapid ROI with the help of an example.
Let’s take the example of two management aspirants A and B. Student A manages to score exceptionally well in popular and well-known management competitive entrance exams like CAT or MAT and thereby gets a chance to study in a top rated business school. The tuition fee for the entire program is 10 lakhs and he is financing his degree from the loan he has received from a bank. Since he is studying at a top rated Institute, he gets an employment offer from a top multinational corporation at the end of his degree program. He is offered a salary package of say 16 lakhs per annum. The initial annual salary he is promised ensures he is able to pay his loans and the interest associated with it within a couple of years of joining the workforce.
Now consider an entirely different scenario. Student B does not do as well as student A in management competitive exams and as such is forced to seek admission in an inferior quality Institute. The tuition fee for the entire program is 8 lakhs and he is financing his degree from the loan he has received from a bank. As the business Institute where he will be studying does not enjoy a high brand value in the job market, the bank lends him reluctantly and that too at a higher interest rate. Since he is studying at a bottom rung Institute, he fails to get an employment offer from a good firm at the end of his MBA program. He after much hard work manages to get a very low paying job. Under such circumstances, you can imagine how hard it will be for him to pay back his loan and all the interest it has generated. The above example illustrates the importance of studying in an MBA course in Mumbai or elsewhere that is modern and relevant and can make you valuable in the job market.