Is an M.B.A Degree Just Another IT Bubble?

It is a fascinating thought, earning almost 2 lakhs a month, having a good apartment, luxury car, expensive apparels and flying to different parts of the world. But is an M.B.A degree the surest way to get there? The problem with most career options in India is the necessity of earning quick money. Parents want it, the students want it, and everyone who cannot get it is jealous of it. 8 out of 10 students in India today are pursuing or wanting to pursue a masters degree in business administration. How many of you out there even know why this degree is important in the market and what skills you acquire by getting this degree? While the 'temptations of this island' are very attracting, few parents and students give thought to many important considerations before opting for or asking their child to take up a career in this area.

Lets face it, at some level we follow the crowd. What was considered a boom in India in the 90's i.e. computer education and engineering is no longer the buzz word in career options. Why? Because US companies are not hiring Indians anymore. The pay packages are not attractive and there is a flood of engineering graduates from the thousands of private engineering colleges. Isn't M.B.A another bubble just like that?

What most people fail to realize is that not all who dream of a career in business administration make it to the various IIM colleges. What is the result? A degree from a private college of almost no repute. Now, according to our mentality and social structure, a person who has got a degree from a private institution, which is not of great repute, wants the same pay package that an IIM graduate gets. People, not everyone can make it to IIM for a reason! Moreover, what most people do not realize is that within the IIM colleges also there are different scales for different colleges. On top of that, the toppers get the attractive offers you read about in the newspapers. Getting there is not enough! Most graduates of the IIM colleges, who are not toppers, get only a decent package ranging between 3-7 lakhs. Not everyone is getting 22 lakhs! Students who graduate from colleges other than IIMs often land up in a job requiring a lower qualification and feel dissatisfied because they compare themselves to the topper of IIM, Ahemdabad.

Also, what many do not realize is that the MBA market is getting saturated, just like the IT industry did. How many amazing job offers do we get to hear about from Wipro and Infosys or some American company? The problem lies in our fundamental approach to career options. We chase the money, not the career and unfortunately, parents want their children only to chase the money and nothing else. The monetary benefits a career can offer are determined by market conditions. It is simple demand and supply. What is on top today may be last tomorrow. There is no safe career in this world which will mint money all your life. Though it seems rather cliche, but pursuing a career of your choice and interest pays in a lot more ways than money. (Yes, 3 Idiots is an inspiring movie) Excelling at what you do will get you anywhere. Each job has equal opportunity, and like someone said "opportunity lies in the man who holds the job".