How to Make a Successful Career Transition after MBA?
Are you considering pivoting in your career after slogging for years in middle management? You aren’t alone. Career counsellors at business schools worldwide are very used to this phenomenon. It might seem like you are being weak or ungrateful to even consider a career switch after working and rising through the ranks at your current organization, but you are not. It actually takes great strength to risk everything and seek a new direction in life, and the top MBA colleges in Mumbai are very welcoming to that sort of individual.
However, you must be aware that just taking a big leap of faith isn’t enough to transition careers successfully. While the repertoire of skills that you will gain while studying in an MBA program will equip you to handle a lot of things, you must still have a strategy. That is where we come in. This blog details all the necessary things you might want to know about an MBA if you’re still on the edge about whether to do it or not. Plus, we will also discuss the ways of making a career change after completing your MBA. Read on to find out more.
Table of Contents
All About the MBA Degree
MBA, which stands for Master of Business Administration, is one of the most well-recognized postgraduate degree programs all over the world. This is a course in management and administration, as the name implies. The USP of this program is that it usually acts as a great stepping stone to secure major breakthroughs in careers, either in the same organization or elsewhere. The duration of an MBA program varies from one B-school to the other but generally falls between 1-2 years.
The eligibility criteria to get into an MBA program changes from one college to another too. Generally, most of the best MBA institutes in Mumbai require their MBA applicant to be a graduate with over 50% marks (there is of course 5% relaxation for persons belonging to the reserved categories too).
Students from any stream can apply to an MBA program as long as they have a graduation certificate. Some B-schools require their applicants to be above a certain age or have work experience for certain MBA programs, so you must do thorough research before applying for one. Many reputed management institutes also take admission into their MBA programs based on entrance exams. The most common among these are listed below.
- CAT (Common Admission Test)
- XAT (Xavier Aptitude Test)
- CMAT ( Common Management Admission Test)
- GMAT (Graduate Management Admission Test)
- CET (Common Entrance Test)
MBA Admission Process
The first step in the admission process to enter any MBA program is usually to sit for the entrance examination. Once that is cleared and out of the way, you can apply to MBA colleges in Maharashtra, or wherever else you find your favourite B-school to be. Other things you might need to do to get admission include:
- Submit a letter/s of recommendation and a Statement of Purpose (SOP)
- Give a Written Ability Test (WAT)
- Sit for a Group Discussion (GD)
- Attend a Personal Interview (PI)
MBAs have the unique advantage of being as specialized in a specific area of business operations as you might need. Hence there are a lot of MBA specializations that you can choose from to make your career transition. Some of the common ones include the following:
- MBA in General Management
- MBA in Finance
- MBA in Marketing
- MBA in Strategy
- MBA in Operational Management
- MBA in Entrepreneurship
- MBA in Management Consulting
- MBA in Human Resources
- MBA in International Management
- MBA in Information Systems/Technology
- MBA in Supply Chain Management
Career Transition Strategy after MBA
The plethora of specializations that you can go after in an MBA degree will help you a lot in your career transition. However, to make the most of your investment – both in money and time, we would advise you to have a strategy in place. Here’s one strategy that we recommend.
Decide if you Want to Change Industry or Function
Having a clear goal in mind helps a lot in life, and that holds true even for getting an MBA. It is extremely difficult, nigh impossible to switch both industry and function at the same time. So, take one step at a time. For example, if you have a strong background in content creation, but lack analytics skills, then choosing an MBA focused on Analytics would be a good choice. That can land you a management position overseeing the strategy of a product-based company, for example.
Assess the Skills you Have vs the Skills you Need
Going back to the previous example, a content creation background probably means that your communication and marketing skills are up to snuff. So, based on what you want your next job to look like, assess all your transferable skills. Then, make a list of the ones that you are not sure about, or might need to develop. You can then choose your MBA specialization based on what skills you need to develop.
Build a Strong Network
While studying in any of the MBA colleges in Mumbai, you will have plenty of opportunities to network with people who are in a similar position in life as you. Here, you might focus more on building strong networks with people who have been in the same area of interest as yours.
Why Internships are Necessary
Finally, don’t take the internships that most B-schools in India and also the best MBA colleges abroad for Indian students offer as something you just gotta get through. Instead, think of them as a chance to try something new without any repercussions. Try to get one in the area you want to steer your career toward and gain experience while you can.
There can be no doubt that an MBA can help you make one of the most dreaded things you can do – a career transition – an easy task. All you need to do is be confident in yourself, make a strategy toward attaining your goals and stick to it. An MBA school like UBS will help you in your endeavour, immersing you in an environment that will equip you with many of the skills and resources needed to survive a career transition and thrive while doing it.
- Which is the best entrance exam for MBA in India?
There is no best entrance exam for MBA in India, though the most common one is CAT. IIMs take admission to their MBA program based on CAT.
- Which is the best MBA entrance exam to get admission to MBA colleges abroad for Indian students?
GMAT is the entrance exam that most MBA colleges abroad for Indian students accept.
- What is the alternative to an MBA degree for a career change?
Programs similar to an MBA, like an Executive MBA, PGDM, or PGD are the best alternatives to an MBA for a career change. They also offer specializations in various areas just like an MBA.
- Can I pursue an MBA online?
Yes. Many colleges offer online or distance education for their MBA students. Executive MBAs and PGDM programs are specially tailored for working individuals who can’t attend regular classes daily.
- How much does an MBA course cost?
There is a wide range of MBA courses available so the cost may vary depending on the institution, certification, specialization, and a lot of other factors. A typical MBA program may range from INR 20,000 to INR 3 lakh in India.