If you’re attracted to the idea of returning to school to complete a Master of Business Administration (MBA) degree, you no doubt want to make sure that an MBA is truly worth the investment. For some students, it turns out to be more than worthwhile. For others, it isn’t worth spending the money or time. Let’s take a closer look at whether or not an MBA is worthwhile– and the factors that help to determine this.
MBAs in India
In India, one study reveals that only 7 per cent of MBA graduates are employable. This means that 93 per cent of the time, an MBA is likely to not be worthwhile in India.
That does not mean you should avoid enrolling in an MBA program if you live in India. Instead, it simply means that you must be extremely careful in choosing your MBA program.
There are many low-quality MBA programs available throughout India. The educators and administrators in charge of these programs will gladly take your money and teach you, but they are unlikely to teach you all the information you need to know to get an outstanding job when you are finished your studies.
The 7 per cent of Indian MBA graduates who are employable were highly selective in their choices of degree programs. In some cases, they chose to study at the top elite universities in India. In other cases, they chose to enrol in a foreign MBA program hosted in a country outside of India. One example of a worthwhile global MBA program is James Cook University’s global MBA, which is based in Australia.
Global MBA programs are typically taught online and open to students all over the world. For Indian students or other foreign students whose English language skills are advanced enough to enable them to complete the coursework, a global MBA could be an excellent option.
MBAs in Australia
In the recent past, the MBA has been one of the most sought-after degrees in Australia. They’re popular with Australian students, and they’re also attracting students to Australia from other countries around the globe – particularly from Asia. Part of the appeal is that the business schools in Australia have forged beneficial relationships with numerous businesses in the Southeast Asian market. Both the educational opportunities and the networking opportunities make the degree beneficial for those who seek business careers in that market.
Financially, the value of an Australian MBA degree does tend to be profitable over the course of a lifetime. David Donaldson at the Mandarin reports that an MBA adds an average value of nearly $300,000 AU to a person’s overall earning potential.
MBAs in the United States
In the USA, experts at the Bureau of Labor Statistics report that workers holding masters degrees earn an average of $12,000 US per year more than those who only hold bachelor’s degrees. Business is one of the most prominent fields in which workers do earn significantly higher paychecks after obtaining a master’s degree.
Conclusion: Is an MBA Worthwhile?
Whether or not an MBA is worthwhile is largely a question of where you are located, which MBA program you enrol in and what you hope to get out of your studies. In the end, it’s a question that only you can answer. However, in India, an MBA tends to be a waste of money unless you study at an elite university or enrol in a global MBA program, either online or by leaving India to study abroad. In Australia and the USA, an MBA degree is likely to be a worthwhile investment.