Why MBA graduates in India should stop looking for jobs
It is very common for MBA students to think of landing a great job after they get their degree. After all, an MBA is carved out to meet the needs of the corporate world and fit in just like a professional would.
You meet your financial needs, you invite a certain social status and you get a regular nine-hour job to fulfil your career goals. Often you have to work hard to go up the corporate ladder, but it is more often than not worth it.
This, however, is a conventional path. With stagnating economy, lack of growth and security in today's jobs, it has become very difficult to survive. Jobs are few and far from the access of everyone.
Also statistically it has been proven that we have far less percentage of people who are getting into new businesses. And also interestingly, most of the fresh new jobs are created by youngsters who start their own business. But there is a huge gap in the economy between people who create jobs and those who seek jobs.
So, either you are a regular MBA guy or an online MBA guy. There are reasons why you should go for your own start-up than sticking to your job.
1. It gives you freedom to develop your skills
If you want to do justice to your skills and know how to, it could be fully explored only in your own start-up. Because sometimes your job profile is stuck in an economy where there is limited existing scope. You open doors to others and yourself, but it only comes with practice. Also you can creatively give in your inputs in a start-up.
2. You do not have to settle for flexi jobs
In this kind of economy, about 30 per cent of the working-age population do some kind of extra/freelance work to meet their needs or at least to justify their growth and bring stability to their careers.
Also, the trend of permanent secure jobs has declined leading to lack of security in the economy. Employers prefer employees to meet their short-term objectives, and the benefits attached with a long-term job no longer exist.
3. You create more jobs for people
One advantage of going with your own business idea as an MBA instead of a job is that instead of relying on a single employer, you open the horizons, help expand the economy and contribute towards creating more jobs for people in the economy instead of depending on anyone.
4. The stakes are higher so are the returns
If you go for your own work then you have to do various planning that involves consideration for a lot of risk management. Of course, the stakes are higher, but you no longer depend on incentives and job promotions to lead a better life. If you have a genuine business idea and succeed at it, then you have the entire share in terms of profits. And the profits are more rewarding than your salary.
5. It is the need of the economy
As an MBA it seems like a very logical decision to stick to your jobs and enjoy a lustrous career. But due to different circumstances and a "dynamic" economy, it has become difficult for companies to employ everyone and sustain the momentum. As an MBA going for your own business generates momentum in the economy and add to the greater benefit.
6. Number of jobs are far less
The number of jobs in the economy are rapidly shrinking and due to this there is a lot of disguised unemployment. One has to face the consequences as there is also high competition and lack of opportunities for freshers.
7. You understand needs of the industry better
An MBA has to do what they have been "designed" to do. To get into the industry, make the necessary changes and get things going for everyone. So an MBA can rise far more in a new business than with a job for an MNC. Also, it creates more space for freshers to enter in a new business.