There are many people who wonder what the value of an MBA is in the world of banking. The answer to that question primarily depends on what the current role and field of the individual is. There are many people in banking who do not have fancy degrees. They joined at a very low position. Then through dint of hard work, and a little bit of luck, they rose through the ranks. After having spent a few years in banking, and having worked in different departments, and having gained a lot of experience, they become invaluable to the company. This gives them a lot of accolades and they get promoted quickly from one rank to the other. Towards the middle and end part of their careers, one can find many of these people occupying top positions in their respective organisations.
Then there are many people who do not want to go through this grind. They want to rise to the top quickly, and they wish to handle key responsibilities at a very early age. So they enrol themselves in an MBA course. One of the reasons that many people do an MBA course is because it teaches them about management. Once they have a management degree, they think that many doors will open for them, and they will find themselves in the top echelons of their industry.
This is not always true. Yes, the MBA degree does open many doors. This is especially true in the initial stages of one’s career. An MBA does not have to start at the low positions and meagre salaries that some of their less educated compatriots do. They get a pretty decent position at the very beginning of their careers. But whether they reach the top or not is another question. That mostly depends on how they perform.
There is a lot of difference in acquiring an education degree, and being successful at the workplace. When one is studying, marks were very important. But once one goes to the workplace, they have to deliver results, achieve targets, and lead people. Many MBAs falter in the real world. They are unable to turn their academic inclinations into real world success. They find that the task of people management is too difficult for them or that achieving targets in the workplace is not as easy as it seems.
On the other hand, there are many people who did not do well academically, but armed with the right people skills, and ample knowledge acquired through experience, quickly make their way to the top positions.
Getting an MBA degree is good, and also quite useful. It teaches you many things. But success at the workplace and reaching top positions depends on many factors. In conclusion it would be fair to say that while a management degree can open many doors, and get you entry into many roles, sustaining that success and reaching a high position depends on what kind of talent and soft skills a person has.