Source | YourStory : By NATASHA DOSHI
Five years ago, the society evaluated your “market value” solely based on your grades, college, and the number of degrees you owned.
Thankfully, through the influence of digital age, these stereotypes are slowly finding their exit route. Today, your grades don’t matter as much as they used to and if you’re talented, you can find yourself an amazing job even with basic qualifications. Those looking to take their careers to the next level often find themselves considering the pros and cons of taking up an MBA.
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For most of us, an MBA programme would either be to increase our business acumen or simply because we need that feather in our cap to show the world.
Let’s run some quick numbers
The cost of your MBA programme abroad would range anywhere between Rs 40 and 70 lakh, whereas an Indian MBA will cost somewhere between Rs 7.5 and 25 lakh. In India, if you happen to do an internship or a job that roughly pays around 25,000 per month, and your MBA fees happen to be Rs 15 lakh; you’ll still take five years to recover the money spent on your education. Not to mention the living expenses, and other miscellaneous costs. Add two more years, maybe? In other words, MBA seems like a dicey choice. Of course, you will earn more in the future and definitely learn a lot but what are the stakes?
With these points in mind, here are a few career choices that cost less than an MBA but will probably do more to advance your career:
Start your own business.
There’s no better feeling in this world than being your own boss. Starting your own businesswould not only boast your moral, but will also help you gain a lot of experience. This is the best option for a midcareer turbocharge. The worst case scenario would be that you’ll end up shutting it down, but you’ll still gain more credibility and it will help you focus in the areas of business management you need improvement.
Join a startup
You get to experience everything at one go in a startup. From handling back end to front end to marketing and promotion, you would get to do it all. You are directly responsible in contributing to the company’s growth. Entrepreneurs are some of the best people to learn from. People who work in a startup have a very different mental and professional frame of mind. They are defined by their innovative and original way of addressing ideas. Not only will you gain more knowledge, you will also learn the key aspects of team management.
An MBA requires you to cover a variety of topics, whether you like it or not. On the other hand, by tutoring yourself, you are free to work on the areas which cater to your interests. You could structure your curriculum on the basis of your requirements and cover a wide variety of business topics. Strategy and marketing, industry-specific lectures, leadership, and public speaking are a few basic attributes that must be learnt in order to have a secure future.
Make a plan for yourself and execute it
A solid life plan will guide you in going forward. Your plan must include a mission, a to-do list, possible business or job options (with a backup plan each) and an execution time frame. Whatever you wish to do, you must do some research and homework first. Assess the market, see the scope, tap your potential and jump in.