The MBA as a Commodity

Look around and you would observe that an MBA degree has become equivalent to a commodity - one that you can trade. The observed trend, in my opinion, goes as follows: “If I pay Institute X, a sum of rupees Y, then will X assure me a job that pays me a sum of rupees Z?” More often than not, Z (= your dream salary) is at least two to three times A (= your current salary, if you are earning one). Mathematically, the MBA program then reduces to a simple problem: “Maximize Z.” In fact, people often choose X based solely on Z.

Unfortunately, the media, I believe, is responsible in part for this phenomenon. Almost every newspaper, business magazines, non-business magazines, online discussion forums, etc. concentrate on only one question: “How were placements at Institute X?” Nobody seems to be bothered about the educational aspects such as it’s relevance to contemporary industry and such. It’s all about “the highest domestic salary,” “the average domestic salary,” and “foreign placements.”

My advise to all you eager students: “focus all your efforts on the learning and knowledge that you can acquire from the program.” Work on becoming a capable and innovative manager (of everything - time, money, people…). If you’re good enough, then you will earn that “Z.”