I am an undergraduate student of electrical engineering studying at the National Institute of Technology, Kozhikode, Kerala, India.
I would like to pursue a Masters of Business Administration (MBA). Please advise me on the options available to me in India, the UAE and the rest of the world.
Please advise me on the quality, finance, placements and course duration at the respective schools. Also, what are specialisations I could take in the MBA?
Ashique Siyaduddeen, via email
Before you decide on where to study an MBA, I would suggest you get some work experience.
Generally, MBA schools prefer students who have some work experience, which I tend to agree with. MBA degrees have been facing a lot of criticism, with many people saying several business leaders have no MBAs and is one really needed? I do feel it helps managers make better decisions as well perform better, and looking through research it seems to support this view.
I also feel pursuing an MBA from a reputable school helps you network, thereby giving you lifelong contacts.
The course helps you develop your career to its maximum and gives you a mixture of ‘hard skills' in finance, economics, operations, marketing, etc. along with ‘soft skills' of teamwork, communications and leadership.
I have simplified why to study an MBA as there is no single reason but rather a combination including increase in salary and career advancement.
If you are still keen to do an MBA straight after graduation, there are management schools that would accept you but you are limiting your choices.
Work experience not only helps you learn more from the MBA but would help you decide which field you really are interested in, if you want to focus on one in particular. You should know that you don't need to specialise and can obtain a general MBA.
MBAs are an excellent choice after engineering, judging from the CEOs of Fortune 500 companies who have an engineering and MBA combination.
Many engineers lack knowledge about finance, especially if you plan to go into the management side of business. Project management, marketing, etc are a few options you could consider.