Is MBA a rat race?

Background :-

• The MBA degree, Master of Business Administration originated in the United States in the twentieth century and has been the current craze of students in the present years. As the course welcomes students from every stream of academic, people dive in to get the certificates, and sometimes, without thinking twice before starting the MBA journey.

Yes :-

• The annual number of test takers for the very famous CAT (Common Admission Test) to pursue an MBA degree has been 232,434 in the year 2016. The amount of students appearing for this test clearly depicts the heated competition for the top institutions like IIMs, IITs, etc. for a seat.
• Taking a student’s point of view, they get pressurized to some extent, unknowingly by their parents, by institutions, monetary crunches and the people around them, telling them to get an MBA degree which will be beneficial for them in the later future. These students blindly follow the trend of the MBA degree and thus, the rat race keeps on including new runners every year. But the consequences do not turn out to be good always.
• Tough examinations like CAT make it seem all the more dramatic and legit to students to pursue a degree in management or administration, thus contributing in the rat race.
• The belief: “chances to get a job in the corporate sector increases straight up the curve on acquiring an MBA degree” signals the whole play to be a rat race.
• Other streams like medicine, architecture, educational societies, banking sectors, etc. are all at some point, dependent on managerial and administrative stands in their respective fields. The key to these management posts are MBA degrees. This ideology keeps more and more students interested in taking up MBA as a course.

No :-

• A huge percentage of students willingly pursue MBA as a degree in order to get into the corporate world for management or administration posts. They cannot be called a part of the rat race, as they do it on the basis of their personal interests.
• Even if an MBA degree seems hard to acquire and the entrance tests seems very difficult, it prepares the students for a competitive environment as competition persists in every field, develops a mindset for interviews and improves communication skills which is beneficial for their future. Thus, in spite of the pressure and competition, good points are a bonus with it.

Conclusion :-

The MBA courses cover various fields of business which includes accounting, statistics, business communications, finance, managerial economics, marketing and operations. This vastness allows students of different streams to flock in for the seats in the institutions, thus increasing competition as seats are limited.

The courses come with a heavy monetary amount to pay off which is also a factor to think about before taking a plunge into the rat race. Also, the competition is global and has a huge periphery which makes it all the more difficult.

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