An MBA degree opens up worlds of opportunity for its bearers. Many business positions require an MBA for advancement. For example, investment banking and management consulting firms hire large classes of newly minted MBAs each year at six-figure salaries into the "associate" level -- those without MBAs generally don't advance past the "analyst" level. At major consumer products companies like Procter & Gamble, Kraft and Colgate-Palmolive, MBAs are hired as "assistant brand managers" into the brand management department -- those without MBAs are generally not eligible for the department. And it is from this function that these companies' senior executives are generally drawn.
There are two kinds of MBA institutes in India -- a handful from which you leave with a pedigree and the vast majority which offer just degrees. In the first category lie the IIM B, XLRI and, to a lesser extent, FMS and Bajaj -- the institutions which pioneered the concept of management education at a time when the IAS was a far more wanted career path.
In the second lies a vast array of institutes -- the good, the mediocre and the dubious. Evaluating the value proposition in the latter category is the daunting task faced by the majority of MBA aspirants.In particular it:
- thoroughly prepares you for higher level, policy-forming positions
- allows you to make a successful career move from one field or industry to another
- allows a smooth progression from a technical specialism to general management
- polishes the skills and enhances the abilities of people working for themselves or about to set up in business