Option 1 - Life Is An Open Door!
Option 2 - What doesn’t kill you makes you stronger.
Pros of doing an MBA
- Network - The network is diverse. It doesn’t end with your peers but also includes alumni, professors, corporate recruiters, successful corporate leaders and entrepreneurs.
- Resources - You get access to a plethora of resources that allow you to produce some amazing work and research at an MBA college. The faculty is brilliant, and working with them lends perspective and knowledge.
- Brand - The brand holds immense power. An email with “@iimb.ac.in” will always have a high open-rate than an “@gmail.com” email.
- Skills - The soft skills of leadership, communication, managing people, etc is one of the crucial learnings that you gain from a business school. A finance student will learn how to manage a balance sheet and P&L on Day 1. Similarly, marketing student will learn what are the 4 P’s on Day 1. Yes, you don’t need a management institute to teach you that, but you may just perfect the art of bullshitting in your time in b-school.
- Money - Fact is, that the CTC for an MBA graduate is higher than that of an undergraduate or an MS/M. Eng. graduate. And, it takes longer and more determination to do a PhD. Opportunity cost in a nutshell.
Cons Of Doing An MBA
- Classes - You’re going back to school can be stressful. Especially, when you are not a fresher and have moved away from academics. It takes time to settle in.
- Fees - MBA is an expensive dream costing 20+ lakhs in some cases. This excludes mess bills, living expenses, and parties you might want to attend.
- Opportunity cost - There are people who have sacrificed a promotion that places them at the same level as hire from final placement. B-school in such cases can set them back 2 years.
- Value creation - MBA does not give you instant success. It may or may not speed up the process. The network and skills that you build in the course of your MBA can be acquired over time. In fact, there are cases when a network you build through the course of your work is much more meaningful and relevant.
How To Make Your Profile Stronger If You Have One GAP Year?
- Freelance/Internship: Freelancing or freelancing are two great choices to spend a gap year. You can take up projects from freelancer.com or an internship that can be found on internshala. It will be a great learning opportunity and provide you exposure too.
- Vocational and Online Courses: Acquiring new knowledge is never a bad thing. You can take vocational training or take up relevant courses related to MBA. Coursera, edX, udemy etc are some of the few portals that have certified courses, acting as an add-on to your profile.
- Play to your strengths: Are you a painter, a singer or a meme maker? Work on your passion and scale it up. You can even turn your hobby into a successful mini career if you are good at it and if you have time. Your entrepreneurial streak will make your profile more attractive.
|Online Coaching||Offline Coaching|
- No matter how big the name of the coaching is, it’s only your self-study that will pay you.
- Since you may or may not get the chance to get taught by the best teachers in a classroom coaching, but in an online platform you can always view the lectures from the elite ones (in fact, they mostly put the best ones)"
- Travel time - As aspirants every second of the next 11 months is crucial and you have to use it as efficiently as possible. For eg - If you are from New Mumbai, you cannot commute 4 hrs daily to Powai for your classes. These 4 hrs can be devoted - 4 sectionals, 1 mock, or finishing off the syllabus.
- Cost - Institute A can charge more in Mumbai as compared Ranchi. Whereas, Institute B will have uniform costs across branches. You need to consider that along with travel costs. Half of your salary/pocket money cannot go in taxi or bus-fare.
- IMS - IMS Application Builder Modules
- TIME - Sectional Tests
- CL - CL Sectional Tests