The advent of the internet has broken many a myth that was otherwise rather prevalent. In the sphere of MBA, you can be misguided if you rely on such internet myths. Fret not—we are here to break down the most prevalent MBA admission myths. Here are 3 of them.
The most common misconception that people have is associating MBA with core business only. Business school is, in fact, a lot more. Not only does it inculcate and develop skills that you will need in any walk of life, but MBA admissions train you for a lot more.
For instance, if you enrol for MBA in operations, you will not only deal with titbits related to planning, supervising production and manufacturing but also with managing the intricacies of the supply chain.
The list doesn’t end here. MBA in banking and financial services prepares you to understand the depths of accounts more than the production itself per se. On the other hand, an MBA in Human Resource Management trains you to develop skills which you can use to filter in more appropriate candidates for a particular job.
You need to understand that the sphere of MBA is rather vast. The sum of the units is what makes for a great candidate. We’d go as far as saying that in today’s times of versatility, being a jack of most trades may just come in handy.
One look at this prospective study and you will see how few MBA candidates come from a business background. In fact, considering how diverse modern portfolios are, MBA candidates may actually benefit more if they have a different background.
Even before your semester starts, you will be trained from scratch. Rest assured; you will not feel out of place if you don’t come from a business background. To make things even better, MBA courses will put you through a lot of industry training.
Even if you don’t come from a business background, these ground-level experiences will enhance your overall perception of how your specific industry works. Do you need a business background to understand business? Absolutely not!
This one is a bit tricky. We can agree that business schools have a higher asking price when it comes to tuition fees. This is more so when compared with its course counterparts. But is it really unaffordable? If you look at the grander scheme of things, perhaps not.
This is where the idea of Return on Investment comes into play. Sure, the premier institutes may charge up to 20-25Lakh INR for their MBA courses, but the ROI is massive too. The salary packages for the brighter candidates can range anywhere north of their admission fees too! Once you enrol in a business school and brush up on your skills and stay consistent, you will be able to afford to ignore all the myths surrounding MBA admissions!