Why MBA? Top 10 Reasons to Pursue an MBA Degree in 2023 - CAT PDF Download

It sounds like you are nearing the end of your undergraduate studies and are feeling hesitant to fully transition into the corporate world. You may be considering continuing your education by pursuing an MBA. 

Experts at EduRev have listed 10 such reasons that explain why MBA could be a worthwhile decision for you.

Before we look at the advantages, let’s look at some details around an MBA

What’s an MBA?

• The acronym of Master of Business Administration, MBA is a globally-recognized degree, which is designed to inculcate the skills that mold the students in accordance with the needs of the business and management industry. 
• Nevertheless, the importance of MBA programs is not confined within the boundaries of the business world. 
• Its tentacles have the power to reach out to different sectors including public, private and many others
• Most of the best management colleges in India comprise the “core” curriculum of subjects, like marketing, economics, even operations apart from elective courses which give freedom to the candidates to follow their heart and pick the subjects that interest them

10 Reasons why pursuing an MBA is the right choice

1. Be your own boss

• An MBA can be a stepping stone to entrepreneurship for many graduates. 
• By completing an MBA program, you can gain the knowledge and skills necessary to start and run your own business. 
• MBA degree programs typically cover business management, planning, and financial management, giving you the tools you need to effectively manage a business and contribute to the economic development of your country

2. Higher Salary

• When you compare the salaries of MBA graduates to those with other types of degrees, you will often see a significant difference in pay. 
• MBA graduates tend to receive higher salaries and this is a major factor that drives people to pursue an MBA after completing an undergraduate degree or gaining 2 to 7 years of work experience. 
• MBA holders tend to be well compensated in both the government and private sectors.

3. Networking

• Business schools offer the opportunity to build a strong network of connections. 
• If you attend a well-known school like IIM Ahmedabad, for example, you will share an alumni status with thousands of other successful individuals. 
• This can create an instant bond with others who also attended the same school, even if you didn't study together.
• Being able to identify yourself as part of a group of high achievers can be very appealing. 
• Pursuing an MBA from a reputable business school gives you the chance to surround yourself with intelligent, talented people who are likely to hold top positions in major companies or become successful business leaders in the future

4. Improves Personal Branding

• Alumni from leading business schools receive tremendous respect in corporate setups.  
• This is due to the fact that top-ranked B schools have been around for a long time and have established strong brand identities.
• The MBA curriculum includes assignments based on Business Model Analysis which enables MBA grads to analyze the stock of information, numbers, and data in order to predict and assuage the threats in the business models. 
• These assignments help students become strategic thinkers to design their own brand and business model.
• Many MBA grads have successfully launched their own startups that became billion-dollar unicorns over time.

5. Better Career Opportunities & Flexibility

• An MBA program offers a wide range of subjects including Human Resources, Statistics, Technology and Information Systems, Economics, and Finance, which allow graduates to pursue careers in various business sectors and the public sector. 
• MBA programs can also be taken on a part-time basis, providing flexibility for those who wish to continue working while earning their degree. 
• Part-time MBA programs often offer evening and weekend classes to accommodate students' schedules.

6. Demand for MBA  graduates is rebounding in the past few years

• The latest hiring surveys show that many employers are once again scouting for new management talent in 2021 and 2022. 
• One such renowned survey, the Graduate Management Admission Council’s (GMAC) annual Corporate Recruiter Survey shows significant rebounds in hiring and salary projections for 2021 MBA graduates, compared to their 2020 predecessors.
• According to their findings, after a slump during the pandemic, 91% of corporate recruiters are now hiring MBA graduates in 2021, and 9 out of 10 expect demand to increase or remain stable in the next five years. 

7. Brand Equity

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 tests: 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 certified hallmark that you are competent to become a successful leader in the near future. 
• As the job of assessing a candidate is already done by the MBA Admissions Committee, recruiters are well-assured of your potential

8. Opportunity to Learn Managerial and Entrepreneurial Skills

• In addition to the theoretical knowledge learned in lectures, MBA programs provide opportunities for students to develop practical skills such as public speaking, leadership, teamwork, conflict management, and negotiation through projects, events, and assignments.
• While pursuing an MBA, you may have the opportunity to join student-led clubs on campus, such as finance, consulting, and cultural clubs, which can help you develop entrepreneurial skills. 
• Additionally, an MBA degree can make you a more attractive job candidate as it demonstrates to employers that you have the qualities they are looking for, including entrepreneurship and credibility. 

9. Experience different places and cultures

• MBA will broaden your cultural horizon and open new business prospects. 
• It will give you new perspectives to handle business. 
• Pursuing an MBA will be beneficial even when you move out of the country.

10. Confidence Booster

• Pursuing an MBA can help boost your confidence, which is an important quality for success in the corporate world. 
• Companies often look for managers or management trainees who are confident, proactive, and team players. 
• Completing an MBA program can give you a sense of achievement and help you balance your work and personal life, which can further increase your confidence. 
• Overall, an MBA degree can help you develop the skills and confidence needed to succeed in a corporate setting.

How can I pursue MBA?

The Common Admission Test, abbreviated as CAT, is India’s flagship entrance exam for MBA. Not only is it the best, but it is also the most difficult to crack. Aside from an outstanding academic record, you must be a jack of all trades in terms of academics, personality, and professionalism in order to gain admission to the prestigious IIMs or any other top B-School in India.

CAT exam is conducted in the last week of November and CAT registration starts in August. Those who plan to appear for CAT 2023 must check out the CAT exam pattern and other details.

How EduRev will help you in MBA Entrance Preparation?

Everybody teaches, but not LIKE US. We have built a world class academic delivery model basis in-depth understanding of a Learner’s needs.

Smart Preparation is required to ace the CAT exam and hard meaningless preparation that consumes lot of your time with lesser gain should be avoided.

1. Subject-wise Courses: Courses for all the 3 subjects: Quantitative Aptitude (QA), Verbal Aptitude & Reading Comprehension (VARC) and Logical Reasoning & Data Interpretation (LRDI). Each course offers topic-wise video lectures, detailed notes & online tests for each topic. 

2. Mock Test Series for CAT Preparation: Mock Test Series for CAT Preparation course on EduRev offers section-wise & complete mock tests. 

3. Level-wise Tests for CAT Preparation: This course offers level-wise tests for each topic to help you prepare exhaustively for the CAT exam. 

4. Previous Year Question Papers & Archives: EduRev also offer previous year question papers & topic-wise questions for each topic, which have appeared in different CAT exams in the last 5-10 years. 

5. 100 RCs for CAT Preparation: This course offers 100+ RCs to help you prepare & master in RCs, which will give you an edge in the CAT exam and move a step closer to your IIM dream. 

6. Shortcut Techniques, Formulas, CAT Crash Course & Others: Along with the above courses, you also get shortcut techniques, formulas & others in various courses of EduRev.

7. Mock Test Series for Other MBA Exams: You also get Mock Test Series for other MBA Exams like SNAP, NMAT, XAT, IIFT, TISSNET & others. 

8. CAT Interview Preparation Guide

EduRev’s course on CAT Interview Preparation includes popular personal interview questions, commonly asked topics, myths & facts about interviews, and details on other general topics which will help you prepare for the exam holistically.
You can check the details of the course from the article "What all do you get under EduRev Infinity Package"

Frequently Asked Questions (FAQs) related to 10 Reasons to Pursue an MBA Degree

What is the duration of an MBA program?

The duration of an MBA program can range from 1 year to 2 years.

What are the different types of MBA programs?

There are five types of MBA programs

1. Full-time MBA
2. Part-time MBA
3. Executive MBA
4. Specialized MBA
5. Online MBA

Read in detail about the differences between these different types of MBA programs

Who is eligible for CAT exam?

Candidates with bachelor's degree/equivalent from a recognised institute can appear for CAT. Also, they need to have attained at least 50% marks/equivalent CGPA in their bachelor's degree. Even the candidates in the final year of their graduation can take CAT, but they must be able to fulfil the remaining conditions before admissions.

Check out the detailed CAT Eligibility Criteria given by the IIM conducting authority for CAT 2023.

What is CAT exam used for?

CAT is the entrance test for admissions to MBA/PGDM/equivalent programmes offered by B-schools and management institutes.

Is CAT exam only for MBA?

Yes, it is a compulsory test for people seeking admission to MBA programmes for most of the B-schools in India. However, several B-schools accept other similar entrance test scores also.