Think twice before joining MBA

By Our Special Correspondent

It is true that better job prospects and big money lure many to MBA. But are hefty salaries being offered on all campuses?

They are offered only in the best B-Schools in India or abroad. Ask any employer, and they will tell you about the sea of MBA graduates in the job market who expect a salary not many companies can offer.

Only the financial companies can afford those kinds of salaries. There are only a few opportunities in that class and there are more than enough people aspiring for those jobs. Most of the plum placements from the main schools happen in this sector.

Almost all the MBAs constantly think that they are worth bigger salaries; but mostly, the skill sets those poses do not command such packages. The result is that the surveys show a lot of underemployment and candidates being perpetually dissatisfied.

Skill sets

Here one should understand, especially while studying MBA that the degree itself does not command any salary, only the skill sets one possesses.

A comparison of the salaries of batch mates of an MBA programme after the placement season will bring to light this stark reality. The gap between them is seen to widen over the years as well.

The average salary figures given out by B-Schools year after year often downplay this aspect as it is in their interest to do so. The low salary placements do not come to the public domain as the figures quoted are always that of the highest and average salaries.

This is especially true with the second-grade business schools. They usually report only two things: the number of jobs offered on campus and the highest salary offered maybe, the average salary also gets a mention.

All these are fancy figures and candidates should not take these as the outcome that every MBA graduate can expect. For each of those plum offers, there are scores of other offers not worth mentioning.

What earns you the big bucks that are the envy of others?

An interest in financial sector with excellent analytical skills and a commitment towards hard work is the key to these lofty offers.