Busting 9 Biggest Myths about MBA
MBA is amongst the well-known advanced degrees in the world. Every year thousands of students all over the USA earn their degree in MBA. Students who want to pursue an MBA can sometimes be superstitious about the entrance exam. Some myths about MBA that you might have heard from people around you may prevail in your mind, leaving you bogged down and under stress.
Despite the millions of candidates applying for a master’s in business administration, the degree is still linked with several myths. These myths can hold back a lot of aspirants to acquire an MBA as their higher qualification. This is why there’s an urgent need to debunk those myths and help students fulfill their ambition.
If you are considering pursuing an MBA, go for it regardless of your age, professional life, and personal life. What you need to do is, toss the myths you hear aside.
Let’s look at some of the biggest myths about MBA that need to be debunked.
#1. You Have Family, Kids, and Job; You Are Short ON Time
Everyone is living a different life and has different career paths. One of the myths you will hear is that it is impossible to complete or succeed in a higher education degree program like MBA if you have kids and family responsibilities. You may hear people saying they want to pursue MBA but have insufficient time due to their family.
You may sometimes feel that you have been caring for your family or have been on the job for too long, and your time for doing MBA has now passed. Believe us; it’s never too late to pursue an MBA!
If you have spent a good amount of time in the marketing domain after earning BBA, consider an online MBA, as it will help you boost your skills and knowledge. This could be the best decision if you want to keep your full-time job while spending time with your family. Business schools usually offer MBAs in various specializations, including data analytics, entrepreneurship, finance, human resources, general management, and supply chain. Depending on one’s interest and expertise, online MBA programs are a great way to handle everything together.
#2. MBA Is Not Important
After completing their undergraduate studies, students sometimes believe that there is no need for higher education. However, they are unaware of the fact that specialization is essential when you start hunting for your dream job.
#3. Application Is Time-Consuming
Many prospective students give up on their plan of doing an MBA because they think that the application process to post-graduate studies is difficult and time-consuming. However, it is not always true because many institutes skip the application process and accept candidates through personal interviews.
#4. MBA Is Only For Men
It is widely believed that women pursue MBAs less than men. In fact, data published in 2019 backs this as it proves that this is true for 39% of all graduate degrees, including MBA. However, recent studies show that now women are more likely to register than men for graduate degrees.
Today different organizations strive to bring women into leadership roles by creating different events for networking. This helps men and women learn various things from each other and allow women to expand their leadership skills.
#5. MBA Degree Is Hype
No matter how many people believe and say that MBA is nothing but hype, what we say is: if you do it successfully, it will be worth all the hype. There can be various reasons behind this, one of which is you can land the job of your dreams if you possess all the necessary skills. The returns that an MBA degree offers you after graduation are wonderful.
#6. It’s Too Expensive
MBA indeed requires a little more money, but it should not be the reason you back off from applying for an MBA program. There are many options available for financing an MBA that people might not know.
If you are passionate about applying for the program, explore different financial options for your education. Almost all universities offer financial support to students to help ward off their worries. Check out the university’s website for a list of loans and scholarships. Students are awarded merit scholarships and fellowships, need-based scholarships, and loans depending on their status.
#7. No Job after Graduation
Another big myth you might have heard is that people don’t get their desired job once they have completed their MBA degree. It is believed that the market is saturated with MBA grads, and the need for them is decreasing because of the unavailability of jobs. However, if we talk about reality, good managers and people with expertise will always be in demand, no matter which specialization.
Many institutions pay attention to things like networking and job placement while educating students. Services like on-campus networking and recruiting help candidates traverse the job market.
#8. MBA Is Not Suitable For Non-Business Background
Want to pursue an MBA with an engineering background? No worries.
Let go of the myth that you are not eligible for MBA if you do not have a business education background.
MBA is a versatile degree program that helps inculcate skills like analytical and critical thinking, time management, entrepreneurship, leadership, and strategic reasoning among professionals. Whether it is manufacturing, technology, business, healthcare, management, marketing, or agriculture, qualities acquired through an MBA are applicable extensively. For this reason, you should not assume that MBA is not for you.
#9. People Do MBA Because They Get Higher Salary Packages
Ever heard people saying, “you must be earning a lot as you’re an MBA graduate”? For most of you, it would be relatable because many people think that an MBA degree gets you a higher income. What’s more, it is even said that students choose MBA not because it’s their choice of career, but because they know someone who did it, succeeded and now earns a lot.
The reality: MBA is a program that offers various options for career paths and is not limited to one domain. One of the reasons why most students opt for an MBA after their undergrad education is because it provides them with a wider spectrum to decide their area of work from. Moreover, having an MBA degree motivates individuals to get out of their comfort zone and try new things.
Opting for an MBA degree has become popular in recent years; universities across the US offer MBA programs. But some myths about an MBA can discourage aspirants from applying for it. You must let go of these myths and start your preparation for the entrance exam because, with the right homework and direction, you can achieve success.