Is 30 Lakhs MBA Worth it 🤯 (Ex-BCG, ISB MBA)

Why should every Indian do an MBA

What are the true assets and opportunity costs associated with this prestigious degree and do my views align with Elon Musk's views on MBA ?

Find out in this video a detailed analysis find whether every Indian should do an MBA?
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Shatakshi is Co-CEO of 🚩Global Governance Initiative (MBA program recently featured by Poets & Quants), an Ex- 🚩Boston Consulting Group, BCG, management consultant, a 🚩writer, and former public policy advisor in 🚩Tony Blair Institute for the Middle East region.

She has been also felicitated with The Most Promising Women Leader 2021 award by ET and 🚩Linkedin Top Voice 2021.

She will be uploading daily content on 🚩career advancement, 🚩personal finance, and 🚩productivity hacks. Be sure to subscribe to the channel to get notified whenever she uploads the video.

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Should every Indian do an MBA? Is MBA really worth it? Do you need an MBA for a start-up?

Discussion and deliberation over the answers to these questions are perhaps dinner table conversations for most Middle Class Indians. In this career insight, I will be sharing my opinions on this topic while tracing how I concluded. I would be using 2 parameters to support my answer.

1. Career Growth

1.1 Salary

Salary tends to be the primary factor in decision-making regarding career growth. Salary advancement is also the most common and perhaps the most justified reason to pursue an MBA from top Business School. While MBA tends to be an investment in itself, its learning outcomes can help you in the long run.

On the brighter side, if you are on a step or a linear growth curve in terms of your salary, you are pretty sorted in life. In this case, you have stability and growth opportunities. Thus, you have no immediate need to apply to an MBA program.

Though before you make a final judgement, there are other parameters also you should consider such as below-

1.2 Specific Roles

If you want to pivot into specific industry roles without prior experience, MBA can be a good option for you. This is quite similar to my rationale for joining the MBA program at ISB Hyderabad when I had wanted to work at BCG or McKinsey to be employed at an intersection of the private and public sectors.

With working experience under the Government of India, this big jump into a different industry was facilitated by my ISB MBA degree.

1.3 Peer Group

Pivoting from the professional to the more personal reasons to go for an MBA. While many may not realize this but going to an educational institute is all about networking and putting yourself out there. It is a great place for those who are stuck in their social lives, and unable to relate to their peers.

MBA provides a great platform to meet a diverse group of people who make your learnings more holistic by sharing their experiences. You become acquainted with a fresh bunch of peers and alumni, with whom you can share your learnings and connect for future career advancements.

2. Opportunity Cost

As it is well known, MBA is a big investment in form of time as well as money. To put it in perspective, Ivy league degrees cost more than 1 crore. While you are most likely to get a premium job in the USA as an ivy league graduate, it is still a big chunk of money. Nevertheless, your earnings or return of investment in dollars will enable you to clear your debt in about 5 years.

While this sounds like an extremely attractive proposition, there is an opportunity cost to consider. You can not ignore the fact that these 1.3 crores could instead be utilised as investments in the stock market or your venture. It is easy to get blind-sighted by the glamorous assets without considering the rather brighter alternatives.

I will never be able to justify attaining a degree worth a crore. I am a firm advocate of investing in yourself and developing your skills, but there must be a threshold. Of course, I realise that the justification could differ from person to person, but hailing from a middle-class family, it does not work for me. The bottom line for all of us differs, for none of us have the same past or expect the same future.

[HIMROSE_BHAGAT]

I don't want to get into any particular sector mba pays more that's the only reason for me

[shankarsuman]

Mam, I wnat to get into PE, VC and I think MBA will help me pivot into these finance roles.

[AbhishekSharma-vmtr]

But man there are some who has btech graduation they joined bains
They says that if you want to be a bussiness analyst you dont need mba degree necessarily

[dip_]

I do have the same point of view. It's not the salary but the sector that I'm looking for. I'm looking for an IB role but I'm an engineer. So, MBA is the real option here. How do I frame this for the interview?

[harnansandhu]

please tell the name of colleges of DU where Mbb firms visit for campus placement

[amazingVideozs]

MBA is dead field...v interview for developer role in my company and many were managers who r afraid they will get fired... managers or Management ppl r non productive ppl who don't add any value.. like Elon musk who prefers as little Management as possible..
Ppl need technical managers... better do masters and be skilled developer