We seem to be living in an era where everyone from fresh graduates to those with some years of work experience seems

ms to want to earn an MBA degree! Many a times, people make this decision without really knowing how an MBA helps or how to go about getting one. Given all the information available on the internet, the biggest blunder most MBA aspirants commit is to start preparing for their MBA application without answering the fundamental question Why MBA?

Why MBA may be one of the shortest questions in the professional world, but it is also one of the most important ones. For one, you will be making numerous sacrifices on your professional and personal fronts in order to get the MBA tag. It will be a life-changing experience for you; possibly the second most important decision in your life. (I think you can guess the first one. As a Chinese proverb says, A journey of thousand miles begins with a single step! If you are toying with the idea of applying to an MBA program, you need to have a Pre-Application Plan before anything else. Yes, you may have done your bit of research on B-schools or even taken your GMAT, but if you do not have a clear idea about why you want to pursue an MBA, it is going to be a tough (and perhaps unfulfilling!) journey.

2 Categories Of MBA Aspirants:

There are basically two categories of MBA aspirants, especially in the Indian context:

Those who have just completed their graduation or are still in their final year. These people typically take the CAT journey.

Those who have some years of work experience (typically 2 to 6 years) and whose objective is to reach their maximum potential in their professional life. This could entail either Career Progression or a Career Shift. These people typically follow the GMAT route.

2 Common Reasons Do MBA:

However much you try to be diplomatic and politically correct in your essays, recommendations and interviews, the truth (that even MBA Admissions Committees are aware of) is that most MBA aspirants want to earn an MBA degree because:

To An

They want to earn more money Their current job sucks

However if these are the only two reasons you wish to do an MBA, then you have a very limited and short-term perspective; because after a point neither of these aspects will mean much to you. For instance, if you are a senior manager at a reputed IT company, and your job involves client interaction, business development, international travel etc., then you need not do an MBA at all, as you will be earning well and will be having an envious job profile too. But if you want to enhance your knowledge and perspective, or want a life-changing experience, you may still consider doing an MBA. So, if you present these two reasons to the MBA Admission Committees you will definitely be considered as a misfit to their MBA program. There is such a thing as brutal honesty!

You need to have more value-based and well thought-out reasons to pursue an MBA.
Here are the 7 Real Reasons to do MBA: 1. Career Progression:

Typically

professional

begins

his/her

career

with

an

operational role. Being fairly smart, hardworking and result-oriented, you get promotions and reach a decent position in the management. So now you have a good academic profile and good work experience. What happens next? After a few years you start feeling stagnated. This could happen after 3 years or it may take even 10 years for you to reach such a stage. This is because in todays performance-oriented professional world, most of the people around you also have the same qualities and credentials that you possess. So, at this point it is crucial for you to ask what unique traits do you have that will differentiate you from the herd? The answer is: an MBA degree. Actually, not just any MBA degree but an MBA degree from a premier business school. An MBA from a top B-school will help you make a quick transition from a mid-level role to a senior management position, where you will have the opportunity to take strategic decisions. If you browse through the job descriptions of senior positions across industries, you can see that MBA is the preferred degree, though perhaps not mandatory. Consulting is one profession where an MBA is mandatory to grow to an Associate or higher levels. So, the lack of an MBA degree may not be a show-stopper but it will be a huge reason for career stagnation. 2. Career Shift:

What are the chances that with your current education, your current role and your current experience, you can actually switch to any other role or industry? Very little! Consider this situation you have been in IT for the past 5 years, but with time, you realize that your true calling is marketing; What steps can you take to make a switch? You can take up small marketing projects over the weekends

Read about marketing on the internet and make changes to your resume Take an online marketing course

Even if you manage to get past the interview for a marketing role, you would still be joining at an entry level. Your great IT experience will not help you much to get a senior level role in marketing. It is here that an MBA program can help. In fact, one of the most important reasons why professionals choose to do an MBA is to change career tracks smoothly. 3. Knowledge:

An MBA from a top business school may set you back by about INR50 lakhs for a 10-month course. The figure may be even higher depending on the location of your school and the duration of the program. This works out to about 1.2 lakhs per week. In India, you may end up spending 20 lakhs for a similar MBA program. Imagine spending such a huge sum of money just to gain knowledge!

Wouldnt it be prudent to quit your job for a year and browse the internet to get all the knowledge in the world?
However the truth is that knowledge that will help you progress in your career will not be found only in books or on the internet. The interaction and intellectual debates that you will have with your professors and peers at a B-school will be extremely enriching. Secondly, the pedagogical methods employed in top schools are very innovative and effective these include case studies, presentations, projects, research papers etc. If you are joining a typical two year MBA program, in the first year you will have the core curriculum consisting of marketing, accounting, finance, statistics, economics, management, organization behavior etc. These lay the foundation of your understanding of business. To be a future CEO, you need to have a 360 degree view of how to run a company and manage people. The language of business is the language of money. Apart from the core subjects, B-schools offer a plethora of electives, usually in the second year, depending on what stream you want to specialize in. It is at this point that you need to have a very good idea of your career path, so that you can make full use of your MBA program. 4. Networking:

What is networking?
Knowing people? Getting contacts? Yes, knowing people is a big part of networking, but surely it is not just that! Even with all the social media hype, how many people from your college are you in regular touch with? 20? 50? At the most, 100! Even at work, how many people do you really know? Your immediate superiors, your team, and the people you meet at the cafeteria. And what happens once you quit your current job and meet your ex-colleague after two years in a mall? You may even find it hard to remember his/her name! So, according to this definition of networking, it means you are ready to spend 1 crore just to know 100 more people! Nothing could be more foolish. So, what is networking all about? Networking at business schools means that you will be carrying the same tag as thousands of alumni. You may or may not have studied together, but if a Harvard alumnus receives an email or a job request from another Harvard alumnus, or is interviewing a candidate who went to the same school, there will be an immediate bonding between them, something like an Old Boys Association! We all want to be identified as part of a group of high achievers. Doing an MBA from a reputed B-school gives you a great opportunity to network with smart, talented people who will hold top strategic positions in major companies or will be great business leaders someday. 5. Brand Equity: An MBA degree is certainly a feather in your cap. But an MBA from a top B-school is a more brightly colored feather! You can feel this difference within India itself. All things being equal, there is a big difference if you do an MBA from a lesser known B-school in your region and if you graduate from a top school such as ISB. As most recruiters are aware of how difficult it is to get into a top B-school, an MBA degree from such a school holds a lot of brand value. Employers already know that you have cleared the first level of acid test: high GPA, high GMAT score, essays, recommendations, the tough interview itself and of course, a very rigorous MBA program. Just like gold, an MBA from a reputed B-school gives you a certificated hallmark that you are competent to become a successful leader in near future. As the job of assessing a candidate is already done by the MBA Admissions Committee, recruiters are well-assured of your potential. 6. Self-Growth:

What do you really learn at a B-school?

Most importantly, the confidence to be somebody who matters, in your professional life. A reputed B-school program gives you the opportunity to think in the direction you want to. Whatever goals you may have had before joining an MBA program, once you join, you may realize that your true calling lies elsewhere. The entire classroom experience, interaction with faculty and peers, student activities, case studies all these may radically change your perspective, both personally and professionally. Many MBA students discover a new person in themselves once they graduate from business school. The irony of life is that when you were a student, you had no responsibilities, but you also lacked the right perspective. Once you started working, gradually, you learned who you are, what your potentials are, but at this stage you are so burdened with responsibilities that you dont get the chance to follow your passion. An MBA gives you a second chance in life to do what you always wanted to do. It gives you the independence of a students life as well as the perspective of working for many years. 7. Change of Geography:

There must have been instances when you wanted to move to Australia or Canada or any other foreign country to work there. In your current role, you may be able to move to an international market as a C++ coder but definitely not as a project manager. An MBA, say from Stanford or INSEAD can help you understand the foreign market well, increase your international network, learn about the requirements for an international career and get exposure to a totally different culture and way of life. Do you identify with some of these reasons why you should do an MBA? At the end of the day, its all about your passion, your career and your long term goals. Before you even think of applying anywhere, analyze why exactly you wish to pursue an MBA and articulate it well in your essays and interviews. A systematic approach to following your dreams will make your MBA journey meaningful and enjoyable

Samples: I believe that the experience that I would gain by working on a flexible course in London business school would provide me with the necessary skills to solve the myriads of real business issues that a company face. Also, being an Information Technology (IT) consultant for five years, I have instilled in me a structural approach to problem solving. I can improve my business-solving skills with my experience and the training that London Business School (LBS) would provide. I believe an LBS MBA can provide me with the knowledge and tools necessary to open my business. I understand clearly that this career goal require skills such as business insight, management capabilities and networking skills. An MBA from LBS is a perfect choice since it will equip me with the skills and knowledge necessary to make a professional business plan, finance new ventures, assess the value of a company, and create a self-sustainable business. During my MBA course, I hope to discuss my business plan with my classmates. The innovative ideas and business insights that a diverse and talented group could generate would be of tremendous value for me. Furthermore, LBS has a unique educational philosophy that stresses on leadership and practical learning. A flexible exit scheme and relevant set of electives have ensured that the course remain action-oriented. The concentration on entrepreneurial management is what excites me the most, as this would be in alignment with my long-term goal of starting my own business. I choose LBS because its employment record shows a high percentage of students getting opportunity in business consulting and general management that perfectly bolster my short-term goal of pursuing a career in management consultancy. The work of consulting is rewarding, since it will call on critical skills, developed both in my course work and through my work experience, to complete consulting involvements that have senior executive visibility. These intensive involvements will deepen my understanding of the key elements that a company requires in order to succeed. Solving strategic problems in a team-based environment can significantly polish my teamwork and leadership experience that is invaluable for a startup company. (Conclusion) I believe that an LBS MBA, when combined with my experience, will provide the right skills and knowledge to pursue my short and long-term goals in management consulting, entrepreneurship and new venture creation.

This work position gave me an opportunity to interact with businessmen from all over the world which expanded my international perspective. Working with American partners and English consultants, I gleaned the subtle meaning of being a professional. Though it was unusual for a young associate to be a representative for my company at such events, I am proud to say that my outstanding work performance allowed me to seize the opportunity to attend various meetings with local and international governmental bodies such as OPIC, IFC and the World Bank that increased my self-confidence and improved my management skills.

While working in various business lines, such as automotive industry, consumer durables and energy sector, I have realized that the root cause of many environmental problems is financial. I believe that many people in the environmental sector are so ignorant or insensitive that they will cheat customers to increase profits. Furthermore, businesses do not prioritize environmental investments and, as a result, insufficient funds are allocated to adequately prevent problems. For instance, with a population over eight million people, Istanbul, the biggest city in Turkey does not have a properly operating sewage system, and in most of the areas wastewater is discharged directly to Bosphorus. Ultimately, I am interested in helping to solve my country's problems by starting my own environmental services business in Turkey, serving both local and international customers giving cost effective and appropriate solutions differing from waste management to safety management. WHY MBA AND XXX SCHOOL? Despite my experience, I still lack some important knowledge and management experiences/skills, especially in finance, marketing and entrepreneurship. I also miss important knowledge of American environment. It is essential that I master these skills since dealing with aspects of international business will be an integral part of my job as an entrepreneur. The XXX School's MBA program is the bridge where I am and where I want to be. The inventiveness and uniqueness of the XXX School's both entrepreneurial and finance programs impressed me. I believe that I will increase my practical knowledge of entrepreneurship from interacting with my XXX School classmates. I value the fact that at the XXX School, entrepreneurial education does not stop at the classroom but continues through internships and extracurricular activities. I feel that a business school for entrepreneurs should balance a dose of theory with real-world application. The XXX School's curriculum and hands-on experiences through associations, internships and the management field study provide this balance, as demonstrated by the variety and success of its alumni. I am also drawn to XXX School because of its emphasis on teamwork and technology. XXX School's MBA program proposes such exciting courses and programs as High Technology Entrepreneurship, International Finance,12-week field application projects, global immersion program directed to teach thinking and acting globally. Further, the XXX School's flexible entrepreneurial program allows students to choose electives from 200 courses that will allow me to tailor my course of study directly to my career interests. After a long search I found in XXX a top quality business school, able to provide me with the opportunities to gain the knowledge I need for my future in addition to putting me in contact with a diverse student environment and ensure my perception of American values. Moreover, my background and my desire to succeed will allow me to flourish in the XXX program. I liked the alumni network and student clubs present at XXX.XXX has one of the strongest and largest alumni networks with 70,000 alumni in more than 130 countries of which I would like to be honored to be a member of. I count very much on earning a XXX School MBA degree to help me strengthen both my finance knowledge and entrepreneurial skills, necessary to enable me to secure a position as an environmental specialist in a multinational American-based firm; this, in turn, will prepare me to accomplish my long term ambition of starting my own company and helping Turkey improve its environmental record.

I am now on my way to the next step in my career planning which involves receiving an MBA degree from XXX. My experience and technical knowledge guided my success during each new venture I attempted. These early accomplishments boosted my confidence that I would soon be closer to my goal of being a successful young entrepreneur. I believe I am on the right path to achieve my goals. I now anxiously await the next phase in my development. I know that my skills along with my experience will continue to aid in achieving my longterm objective.