ROI - Recovery of Investment of your MBA program

MBA, while one of the most sought after degrees, is often heavy on your pocket. The fact that people from not only management but engineering and other backgrounds are opting to pursue the MBA program as their post-graduate degree is astonishing. But, this doesn't put a guarantee to your cart that will add up your recovery of investment of your MBA program.

The average MBA fees in India of a good Business School ranges from 7-25 lacs depending upon the level and ranking of the B-School. Though the placement stats show that only 30% of the total students enrolled for the MBA Program across India find placement with a decent package.

The biggest worry of most of the MBA pursuant is how do they recover the investment that they have made in their MBA Program. With the MBA fees in India touching the skies with not so promising placement records, what are those ground-hidden secrets which can boost the recovery of investment of your MBA program in India? Well, we are right here to illuminate you with ways that can help in the recovery of investment of your MBA program like a pro!

Paid Internships? How much can you earn while you learn?

Good B-Schools in India are commandeering the management education in a direction in which it has not been led before. With innovation happening at all levels and the pedagogical changes being adopted to give out graduates who are ever-ready to get hired and hone skills which the industry drools for, gets plenty of internship opportunities while pursuing their MBA Program.

Yes, Students! This is the key! Get out of your comfort zone and apply for as many internships as you can. Many a time the internships are paid but there can be instances when they are unpaid. Remember, it’s okay to get your hands dirty for free at the initial beginning but take it as a challenge to learn and groom your skills to get a better opportunity the next time.

Theoretical knowledge does play a great role in getting your facts correct and be knowledgeable but working real-time will always carry a better impact on your resume and increase your chances of getting hired or who knows, maybe even get a pre-placement offer by the company you pursued your internship with. A point to note here is that ROI of B-Schools cannot always be calculated in financials but the exposure that you get sure pays-off the cost incurred by you.

Industry and International Exposure: A Recovery of Investment?

B-Schools in India are driving towards providing holistic development to the future leaders, through inviting industry and domain experts to bring in a fresh breath of knowledge and perspective to the students outside the classroom and the books, of course! Most of you might be thinking how can expert sessions be an ROI of B-Schools’ fee?

Well, let’s look at it from this angle. Learning business studies and finance, etc. might help you get subject-knowledge but what will really add tangent to your professional profile is knowing the real-world application of the same. Such sessions usually teach you something that books or normal lectures won’t. Be sure to attend because these are persons from the industry where you are going to be consumed in the near future. So knowing about this and flaunting your knowledge in the final interviews will definitely help you to get your hands on a good company and a pay-package too.

Another great way to do so is by doing STPs i.e., Short Term Projects and earning a stipend for your work. Such projects provide a handful of exposure through live-projects and enable you to practice the real-world application of your academics,  in turn adding tangents to your skills, your resume, and your bank balance.

Same way, B-Schools also organize student exchange programs which are mostly partially-funded. International visits ensure an exposure which can racketeer your professional profile to great lengths. International universities provide an acute exposure to varied practices and the projects done internationally are altogether considered next level in the Indian job market. Hence, this can definitely add a tangent to your resume making it look shinier than ever and definitely act as an ROI of B-Schools.

Can Networking add tangents to your MBA degree?

Business Schools provide a breadth of networking opportunities to the students of the MBA Program. Many a time, we as students miss out on opportunities that lay in our way to be taken and embraced. What if we told you, that a good career network can do wonders to your career after you pass out of your B-School?

Take for example – There is a fest in your college and you are a part of the sponsorship team. You help bring in 30 % of the sponsorship amount single-handedly by an XYZ Company and built a good rapport with the manager there. Seeing your negotiation skills, the manager offers you a paid internship in the next semester. So, this ways no one knows how your network might come handy to you.

Same ways, being in the good books of your teachers might help you expand your network pretty well. Be sure to make the most of social networking sites like LinkedIn and maintain an updated profile so that the job searchers can find you. Gone are the days when students needed to be totally dependent on the placement cell of the business schools for finding jobs or internship opportunities for that matter. Remember, Opportunities are always there, you just need to look a bit thoroughly.

How can the Industry Connect of your B-School help you?

Business schools these days have a huge industry connect which boasts of tie-ups with various companies that outsource live projects to students and provide an opportunity of internships and placements. They also organize industry visits which enable students to see for themselves the environment, the processes, the culture and learn from it. Such visits also help in expansion of a professional network and provide the know-how of the various industries. For standing out from the lot, the knowledge will definitely give you a plus point during your placements.

Participation in Competitions

Business schools these days indulge in organizing a lot of inter and intra college competitions. Such competitions are usually skill-based and carry a cash prize for the winners. An example could be an inter-college football or talent hunt competition or a corporate competition which requires solving real-life business challenges through practical problem-solving. All these competitions usually carry a cash prize for the winning teams. An added advantage with corporate competitions could be a chance to appear for Pre Placement Interviews (PPIs). Participating in such competitions not only can help you brush your skills but also arrange for good funding if you win.

Recovering the investment of your MBA fee in a subtle manner

All the above will definitely help you reap a good return on the investment made for your MBA Program. On average, it usually takes an MBA graduate approximately 4 years to get a full-fledged return on their investment in monetary terms. But, the same could be achieved sooner by up-skilling yourself through the above-mentioned mantras and adding value to your resume for better opportunities in your professional journey.