<p><em>Go back to school to 'experience' an MBA in a vibrant setting with smart brains all around to enrich the skill-set and reinvent the charm, writes<strong> Mayank Srivastava</strong></em><br><br>For long, the trend in India has been to complete the education in one go and then, focus on the professional career. The idea of getting back to school after gaining substantial experience is relatively new but is fast gaining popularity in India; over the last 15 years, an increasing percentage of Indian corporate professionals have been aspiring to pursue MBA after gaining more than two years of experience; the trend is here to stay and grow- as is the case in the developed nations. However, a significant number of corporate professionals realise the need for an MBA after 30; they witness the growth curve plateau and thus, realise the need for getting back to school for enriching the skill-set, gaining greater credibility through a management degree, and leveraging a platform for interacting with the potential recruiters for assuming bigger roles for a renewed growth trajectory. There is every merit in realizing the need for an MBA, however late in one's career, and taking the right steps. However, one needs to take well informed decisions as at this stage in one's life, the opportunity cost is high, risk appetite is low, and personal responsibilities are on an increase. Here is an attempt to educate the 30+ MBA aspirants take wise, duly informed decisions. The order of options is in decreasing degree of recommendation...<br><br><strong>One Year Indian MBA</strong><br>Many IIMs and multiple other Indian programs offer one year, full-time residential programs. These programs require certain minimum years of experience for eligibility and boast a class of highly experienced candidates. An Indian MBA has its own benefits in that gaining employment is easier, the logistical hassle is marginal, education loans for good institutions are easily available, and, very importantly, the network one develops is easy to retain and leverage. This option is strongly recommended for candidates who wish to stay in India and avoid the heavy investments and uncertainty associated with global MBAs. Here is the statistics for the prominent one year Indian MBA programme...<br><br><strong>One Year International MBA</strong><br>Most European MBAs and a few American/Canadian/Asian MBAs are one year long. The average work experience in these programs is generally around 6-7 years and the average age of the class is around 29 years. The opportunity cost in these programs is less, the brand value of these programs is high worldwide, student body is global, the feel of these programs is quite international, and the ecosystem is truly intellectual owing to the long history of these programs and the universities they are associated with. One of the disadvantages of these programs is that most of the prominent ones are mainly in the Europe where the economy has been on a downturn for several years now and thus, employability is not certain- especially for international students, even if one graduates from the programme in the geography. Further, one year is not long enough duration for building a case for a management career in an international location; a career switch is extremely difficult through these MBAs as assuming leadership positions without prior experience in a domain is a rarity and most one year MBAs don't include internships. Overall, this option is recommended only if a candidate is not looking for a change in role and carries serious, tangible skills that boost one's employability prospects on completing the MBA.<br> </p><table style="width: 500px;" align="center" border="1" cellpadding="1" cellspacing="1"><tbody><tr><td><img alt="" src="http://bw-image.s3.amazonaws.com/chart-lrg.jpg" style="width: 643px; height: 333px;"></td></tr></tbody></table><p><br><strong>Two Years International MBA</strong><br>Almost all of the premiere MBA programs in USA, and many in rest of the world, are two years long; the average work experience of the class in most of these programs is around five years and thus, the average age of the class is generally around 27-28 years. These are the world's most prestigious programs and bring along the highest brand value, strong global network, and a strong curriculum in general management with the flexibility to concentrate in 1-2 disciplines. Most of these programs are a bit reluctant to consider the 30+ candidates as 1) the candidates with 3-6 years of experience derive great benefit in their roles and salaries after their MBAs; such return for 30+ candidates is always difficult and 2) schools doubt whether a 30+ candidate will be able to face the academic rigor in a business school and compete with the 20 something classmates! Further, these programs are generally quite costly and a longer duration means higher opportunity cost. But then, those aspiring for the world's best brands for their MBA, or wanting to shift their work location to USA, or considering a shift in career (for which a longer MBA is better) cannot overlook these options. While applying, the 30+ candidates must present solid reasons for the need of an MBA late in their career, portray well deliberated, meaningful career goals, and ensure very high GMAT scores to prove their academic abilities. Moreover, the candidates must conduct serious financial planning before treading this path. Recommended for candidates looking for a shift in role, relocation to USA, or strong brand value.<br><br><strong>Part-Time/ Online/Correspondence/Weekend MBA</strong><br>Various big brands have the option of such degrees and the idea of having such brands on Resume is enticing, especially when they come without the need for leaving one's job, at a reasonable cost, and mostly without the appearing for GMAT or CAT. Things that come too easy are seldom worthy. Practically, these are not MBAs but merely certifications- nowhere close in value to a full-time MBA, and provide no assistance in placements. Through these programs, one keeps studying a few things over the weekends or after office, clears multiple exams, and eventually gets a degree one day; but the change on one's profile or career trajectory is insignificant. Not recommended; pursue this option only if your circumstances do not allow the flexibility to take a sabbatical and study full-time. Expect dividends, marginal, only in the longer run.<br><br><strong>Two Years Indian MBA</strong><br>The conventional two years Indian MBA through CAT is the least recommended option for 30+ candidates. Most students in the two years Indian MBA class have 0-1 years experience and thus, the average age is around 23 years; a 30+ student is like a senior citizen in the class who finds it difficult to relate to the maturity level of most students and loses out on peer learning, an essential part of the MBA experience when one pursues the education from schools accepting only the experienced candidates. Further, the companies visiting campuses assume hiring candidates with no to little experience and thus, getting middle-management profiles (that one must expect at an MBA at 30+) is impossible after from campus and one needs to find a job oneself. Not recommended. Strongly.<br><br><strong>Verdict</strong><br>It is a difficult decision to take a break from job and go back to school when you are over 30. It sounds that this education is going to be expensive; but as the saying goes, if education is expensive, try ignorance! If you feel that your career needs the push of an MBA, go for it and you shall never regret. However, don't look for short cuts through cheap or easy options; score high on the GMAT, apply meticulously to only the esteemed programme, and go back to school to 'experience' your MBA in a vibrant setting with smart brains all around to enrich the skill-set and reinvent the charm. You shall then reap the benefits of a true MBA.<br><br><em>The author is Founder of Experts Global - an education firm</em></p>
