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5 MBA Myths Busted

May 24, 2022

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I Need a Clear Goal to Pursue an MBA 

MBA is Expensive

I Have to be Super-Intelligent to Get Admission to Top MBA Colleges.

I Need to Have an Outstanding Academic Record to Get Selected.

I Need Work Experience to Qualify for an MBA

5 MBA Myths Busted

I Need a Clear Goal to Pursue an MBA 

To pursue some specific fields of study, you need to have clear goals in life.

For example, if you want to get into the National Defense Academy, you need to be clear that you are prepared to live that military life. Similarly, if you're going into a journalism school, you need to be clear that you want to be a journalist. 

However, you do not need that for an MBA. You can go for an MBA degree even when you don’t have a high degree of clarity, or any clarity, on what you want to do.

Here’s why. At its essence, an MBA degree teaches you about management. Management is applicable in all organizations around us, whether public, private, profit, or non-profit.

Doing an MBA teaches you skills that allow you to perform multiple functions within an organization. When you do an MBA, it exposes you to many different job roles and how they function within the organization.

So if you are not sure which industry or which role you want to make a career in, MBA is still a good option you can pursue. B-schools ask you to complete Live Industry Projects as part of every MBA degree. These will help you gain further clarity on the roles and responsibilities in different departments of an organization.

In addition, an MBA can lead you to different roles. For example, the official spokesperson of the Ministry Of External Affairs, Arindam Bagchi, is an MBA graduate. Similarly, K.V. Kamath, former chief of the New Development Bank, BRICS Countries, is a pass-out of IIM-Ahmedabad. Another example is Raghuram Rajan, renowned economist and ex-RBI Gover, an IIM-A alumnus.

MBA is Expensive

While it is true that most of the premier MBA colleges charge a hefty tuition fee, do not demotivate yourself by thinking about money.

Colleges such as the Faculty of Management Studies (FMS) allow you to complete your MBA degree at less than a quarter of the cost that the top IIMs will charge you. Moreover, average pay packages at FMS are among the highest in the country.

If you decide to pay the hefty sum anyway, here’s a positive way to look at it. Suppose you spend 20 lakh rupees per year for a two-year program. If you invest in a good institute like IIM-A, B, C, or ISB, the ROI from that investment will allow you to get that money back in just two years! Spending money on quality education is always a good investment. 

In addition, you can pursue options like student loans with low-interest rates. 

In the meantime, check out this video on doing an MBA and how it can affect your career and life.

I Have to be Super-Intelligent to Get Admission to Top MBA Colleges.

Exams like the CAT or the XAT are just aptitude tests. 

Aptitude means the natural ability you have inside you. It is not something extra that you need to learn from scratch. Since you already have that ability inside of you, all you need to do is work hard and polish it further to ace the written test and interview. 

These top MBA colleges are not looking for students who are already great. They are looking for good students who will become great managers and valued members of society in the future. So be confident and keep striving forward. In the meantime, here is a fun article you can read on interesting ways to prepare for the CAT exam.

I Need to Have an Outstanding Academic Record to Get Selected.

Few IIMs have increased the qualification requirements in the academic category; however, it is still not an overwhelming percentage of your overall grade. 

For you, the only grade that matters is the minimum eligibility criteria required to attempt the CAT exam - which is 50%.  

Think of it like this. If the top-tier MBA colleges only wanted to have candidates with the highest academic credentials, they would have raised the minimum eligibility criteria to more than 50%, but they do not. 

They have not increased the 50% cut-off marks because other factors are equally important, along with academic records. 

So don’t worry if your academic records are not stellar. You still stand a chance to bag a seat in one of the top MBA colleges in the country. 

I Need Work Experience to Qualify for an MBA

Hundreds of fresher MBA graduates pass out from premier colleges with amazing pay packages in their hands in any given year. 

Of course, some institutes like ISB and the Great Lakes Institute of Management have special courses where work experience is mandatory. However, these courses are for working professionals or senior leaders only. 

While it might help to have some work experience, it is not mandatory in any MBA college.

Therefore, relax and let go of these myths. Focus on what matters, and that is your CAT score. 

Did you know that some of the top B-schools in the country require you to have at least 80 percentile in the CAT exam? That’s how important your CAT score is. 

For such an important exam, you need the best guidance and resources to help you crack it. And this is where PrepLadder comes in.

PrepLadder has India’s leading faculty for CAT, the Dream Team. They can guide you on aiming and preparing for 100 percentile because these super-teachers have done so themselves as CAT aspirants.

In addition, PrepLadder has high-quality and efficient tools to help you study smarter. 

For instance, you can access tools like Treasures to make revision more effective, exam pattern-based Subject Tests and Mock Tests, industry-leading QBanks, and Custom Modules to customize your preparation according to how it suits you best. Download the PrepLadder app now and elevate your CAT exam preparation 

So there you go. These were five of the most common MBA myths that students believe. So if you hear your friends talking about these myths, be sure to educate them! 

For more informative and interesting content, keep following the PrepLadder Blog. You can also follow our Telegram Channel for more tips, strategies, and the latest exam updates. 

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Auther Details

Arindam Goswami

Arindam is a Content Marketer who looks after the Medical Super Specialty segment, specifically the NEET SS category, at PrepLadder. He aims to help aspirants crack exams and realize their dreams through his work.

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