Second MBA-Analysis

Are you the one planning to graduate another MBA despite having an MBA degree from India? You are not alone. With fierce competition out in the corporate sector, we observe many working professionals are following the same path. The trend is picking up not only among the ones who have completed MBA from obscure colleges in India and did not get expected surge in their careers, but also with the ones who have the badge of IIMs or the ISB.

There are some reasons which is fueling this trend.

1. Some of the fresh graduates from colleges in India directly opt for MBA with no experience. But when such MBA graduates come across colleagues with global MBAs, they have a feeling of a sort of utopian MBA which they missed due to a decision taken in haste.
2. MBA curriculum of some not so great colleges in India is highly theoretical. Students only look up to faculty and books to learn the business world. Most graduates are fresh engineers who have never been part of business and when they enter jobs after campus placements they feel totally out of sync to what was taught in MBA.

Why It Seems Logical?

1. Focus on applied learning instead of theory based learning.
2. Matured Peer Group: The group in your foreign MBA will be from diverse races, languages, colors, and ethnicity. Also the average age size and work experience there will be of 5-6 years unlike Indian MBA where major chunk is of fresh graduates. You will be equipped to work along diverse workforce in your corporate career.
3. Global Brand Equity: It is quite obvious that a branded MBA is a visa to big corporate houses and strategic roles. A global MBA will open more doors across the globe. You will not be bounded only in India.

Such factors are reasonably enriching to take this decision and pursue an MBA abroad.

Why It Seems Challenging?

1. There will be a big question by the university you apply to. Not all schools are acceptable to the fact that you want to undergo the pain and effort of a rigorous MBA program again. Why an MBA earlier was not beneficial to boost your career? Last but not the least, appearing for GMAT or GRE, the lengthy application processes that includes SOP, LOR writing might be grueling for many.
2. When it comes to financial angle, the cost of a global MBA is exorbitant. There can be huge opportunity cost in leaving the current job and start afresh as a student. It may affect your savings resulting into financial setback. A fresh MBA graduate in India might have saved 2x 3x more than you after 5 years of second MBA. You may see yourself repaying the loan back to the banks and that too in dollars.
3. Lastly, there will be huge risk involved in convincing your future employer if you expect to change domain after your 2^ndMBA. That means you are left out with very limited options. Also graduated with second MBA would expect higher salary than graduates who are in market for the first time. Again the latter has a competitive advantage.

Should you go for it?

Well after pondering upon the above pros and cons you can assess your circumstances. Are you doing well? Are you financially secured? Do you have time for additional pain and effort to go under the grind again? What does your family say? The choice is personal but necessitates a deep thinking. Be careful!

If you have opted to proceed with a second MBA you can reach out to CareerCarta for all the support needed for GMAT Prep, GRE Pre, IELTS Prep, University Shortlisting and SOP Writing. Reach out to us on connect@careercarta.com or leave a message on our website www.careercarta.com. Whatsapp the counsellor on +91-8287291076.