Should a banker pursue MBA? Here’s why and why not

Many universities are offering MBA courses for bankers these days. It is seen as one of the popular options for bankers as you get an opportunity to pursue MBA while continuing the job. Banks also permits their employees to pursue such courses.

But are you puzzled by the question of whether you should pursue it or not? Many of us face questions that really make it a difficult decision. So here’s the pros and cons of doing MBA by bankers:

Pros:

1. Having a MBA degree really boosts your profile.

There’s no doubt that having a MBA degree makes your profile outshine others. It shows your professional competency and capability. It is bound to give your resume some extra brownie points.

2. MBA gives an opportunity to pursue various other opportunities.

Believe it or not, MBA is seen as a prerequisite for many institutions/companies of the service sectors today. If you hold an MBA, you are seen as a more deserving candidate for managerial and supervisory posts. This degree might help you more to top the corporate ladder.

3. Better knowledge and skills

MBA is a degree that make you learn the soft skills and attitude that would help you execute the work more effectively and efficiently.

It is a fact that best of the managers and working professionals pursue MBA to learn the art of getting things done efficiently and promptly.

4. If you want to switch from your present job, MBA is the way ahead

If you ever feel that your present public sector job is not giving you the required livelihood, and you feel that the future lies in a shift towards the private sector, than MBA is the only solution.

Now, coming on to the cons:

1. Who cares about your degrees? The real picture is ugly

Every banker knows how much does your qualifications matter in your promotions. After you have been working in a bank for a few years, no one really cares about your degree or competence.

What matters is your tenure of service and liaison with people in the bank. Your qualifications and degrees are like the sparkle on a birthday card that only adds to the attractiveness without any meaning of its own.

2. There are no perks or rewards for so much of your effort and money.

While you give so much of time, money and effort in pursuing the MBA, there’s hardly any reward for the same. At the most, you might hope for the fee reimbursement and a little one time incentive.

But if you look it from a long term point of you, what are you getting? Nothing! You have to work on same terms, same salary, same conditions. This makes the whole point of doing MBA meaningless.

The only reason that appears to be the driving force is : For your personal satisfaction.

 

3. Quality matter. It’s all about the brand name

There is no question regarding the difference in value of an MBA degree from a reputed Management institute and one from a common private university. The brand game does exist in the degree you want to pursue as well.

It is difficult to find good management institutes offering part time management courses. So, it is important that you don’t fall into the trap of an institute that might make your degree look mediocre.

To conclude:

MBA is a good option to refine your soft skills and capabilities. Pursuing an MBA might be a good idea if you have good plans for the future. But if you are expecting wonders to happen in your banking career, then you might be disappointed.

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