Is it a good idea to go for a double MBA?
On LinkedIn, I come across a few profiles of people who have been to IIMs and then pursued another MBA from Ivy League colleges in the US. Does it make sense to do an MBA from a low tier college, and then do another MBA from a better college abroad? What will be the ramifications of a double MBA?
Well, first of all, taking the step towards pursuing a second MBA to get a better brand name may or may not be a good option depending upon the timing of the decision. If you have gathered sufficient experience in the industry post your first MBA (relevant experience, that is) then it might make sense to shell out that amount of money (which may be multiple times an MBA in India especially for Ivy League colleges abroad). Another reason why people might go for a second MBA abroad (or for that matter, any education abroad) is to get a well-paying job and settle abroad (Trump might have ruined the dream for many though). If that is the reason then it is best to go for an MBA abroad without going through the PGP in India (especially from tier 2 or 3 colleges). You can spend that time building your profile, preparing applications, engaging in some social work instead of pursuing PGP from a tier 2 college in India to strengthen your application. In my humble opinion, the first MBA from India doesn’t help much in procuring a seat in an Ivy League college if that is your ultimate aim. It is essentially a risk-reward gamble. The risk of getting a well-paying job Vs the amount of time, money & opportunity cost of the course (which is pretty much true for all Indian students studying abroad). Make sure you survey the job market well (which is honestly very rickety in the US currently for Indians), your risk-taking ability (including your financial situation & associated costs) and of course, your driving factor for going for the degree abroad (expanding your knowledge base, better paying job or getting a better brand-name).
From excerpts on Investopedia-
In this competitive market, one needs to develop every ounce of that extra edge one can get. Among so many ways to do so, majoring in double MBAs is one. Some also use it as an opportunity to specialise in one specific domain, for instance, an MBA grad specialised in general management can further enhance his/her skills in Communications related degrees, hospitality or cultural anthropology. These specialisations hold immense importance in various countries and could help an individual as a job seeker.
People either go for a second MBA degree from abroad (since the specializations mentioned above are more popular in the US, UK and Australia) or they try to take up extra semesters after the completion of their first MBA.
Though the reasons for doing so may vary from person to person, the major reason is to increase one’s hireability. They say they don’t have to worry about who will hire them and instead, worry about which job offer to accept.
Another idea from Quora- Akshat Shrivastava, who is a strategy consultant and have MBA degrees from INSEAD & Wharton, mentioned that a dual degree is pursued if people have lots of time & money and the recruiters don’t necessarily get impressed by the dual MBA unless one of them is from Harvard or Stanford.
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