MBA programs are seeing an increase in the number of students. After several years of decline. According to MBA.com, 67 percent of business colleges reported receiving more applications in 2020 than the previous year. According to the poll, 35% of respondents said their application numbers had increased “substantially” in 2019. With an increase in students considering earning an MBA, now is a good moment to examine some popular MBA fallacies.
MBA myths have existed for decades as business schools, ranging from the cost to the sort of student. Unfortunately, these misconceptions may deter some highly qualified students from enrolling in our program. Realizing the reality of the MBA is critical for a student’s future well-being.
7 Myths Busted!
Do you want to attend a top business school but are concerned over what you’ve heard about the application process? These myth-busters will help you distinguish between fact and fantasy.
Myth #01: To enroll in an MBA program, you must have a business background.
If you majored in something besides college business, don’t think that your odds of getting into the business school are insignificant enough to make it worthwhile to pursue. The truth is that, while a bachelor’s degree is required. The sort of degree generally doesn’t matter.
Students who desire to change careers and focus on business instead of another discipline could use MBA to help them do it. Furthermore, entrepreneurial-minded individuals with a bachelor’s degree in a discipline other than the business can seek an MBA and then combine that business training with their bachelor’s degree in their specialist field to launch a successful business.
Doesn’t matter from which background you are. You can continuously pursue an MBA career. If students new to business face assignment problems first, they can always buy assignment UK of business, marketing, or management from online websites.
Myth #02: MBA programs are too expensive.
A highly prestigious MBA program can easily be worth $100,000 or more. However, many schools now offer less expensive MBA programs. Hybrid degree programs provide flexibility and affordability. It might help you save money on your MBA. Many smaller colleges and universities are launching MBA programs to compete alongside Ivy League universities and offer a more inexpensive educational experience.
Employers also recognize the value of further business training for their employees, and as a result, they frequently offer tuition reimbursement schemes to make the MBA more accessible. Some MBA students save money on their graduate school by taking advantage of employer-sponsored training.
Myth #03: An MBA is only required for managers.
Many individuals believe that the MBA is only for working in management or leadership positions. This is a myth that keeps people from using MBA education in other lines of business. While many MBA graduates wind up in leadership roles, this is not the case for everyone. The degree is very adaptable, with a wide range of concentrations applied to almost any job path.
Myth #04: Online MBA programs are questionable.
Employers increasingly appreciate the importance of online MBA programs and their ability to teach business principles. The caliber of the school that offers the curriculum appears to be a crucial factor. Information is considered credible when it originates from a reputable institution.
A program accreditation can assist in determining whether or not a program is of high quality. Online programs from obscure colleges may distort the facts, but students who pursue an MBA from a reputable school can be confident. In truth, many employers are only interested in the school where the degree was earned, not the form of the degree.
Myths #05- Online MBA Programs Are Smoother Than Campus-Based MBA Programs.
Although online and hybrid programs are more accessible and efficient than campus-based programs, they deliver a high level of rigor and expertise. Indeed, online platforms are frequently more complex than on-campus programs.
They cover the same amount of content in a shorter amount of time, which necessitates more serious study, but learning online necessitates more self-discipline or self-motivation than learning in a classroom with other students. Online students benefit from the flexibility and speedier pace, but these programs do not surrender the education quality on the temple of ease.
Myth# 06: You will be allowed to have a VIP reference.
Do you think having a recommendation letter from someone like your company’s CEO will boost your chances of being accepted? If the CEO is unfamiliar with your professional qualities and cannot comment on your talents and capabilities, the admissions committee is unlikely to be impressed.
Suppose you have the option of receiving a recommendation from such a direct boss who can remark on your professionalism or a high-ranking employee with whom you have never worked. In that case, top school admissions committee members advise you to choose the individual who can aptly represent your expertise, even if they are not in the C-suite (Jatin Bhandari, 2020).
Myth #07: Your application must be flawless.
Most of the most detrimental myths about obtaining an MBA is that many students believe they must have a pristine Grade and a good GMAT score to be considered. However, putting together the proper application can seem impossible, deterring many people from applying to business school.
Many services that provide accounting assignment writing service also provide essay writing for your college applications. When there are problems, there are solutions as well. You just need to look around.
You are missing out when you’ve been holding off enrolling for an MBA program because you believe your application must be flawless. Yes, many programs have competitive admittance requirements, but not all. You’ll see that some components are pretty crucial while others aren’t.
You also need a recommendation letter for some colleges from your last professor. Masteressaywriters (2021) stated that you must ensure that the person sending this letter of reference has authority – something that the scholarship-awarding agency recognizes as well.
An MBA may help you find a better job with a more excellent salary. But it will not instantly transform your life. You don’t want it to be successful and happy, either. Your MBA degree isn’t the objective in and of itself; it’s just a means to get there. You won’t reach your intended achievement in the MBA application procedure or life if you don’t set short- and long-term goals.
Jatin Bhandari (2020). Top 10 Myths About Getting Into the Top Business Schools—Busted. AACSB. https://www.aacsb.edu/insights/articles/2020/07/top-ten-myths-about-getting-into-the-top-business-schools-busted
MEW (2021). COLLEGE SCHOLARSHIP GUIDE. https://masteressaywriters.co.uk/blogs/college-scholarship-guide