Why is the MBA Program Losing its Edge with Each Passing Year

“The difference between school and life? In school, you’re taught a lesson and then given a test. In life, you’re given a test that teaches you a lesson.” — Tom Boded

The MBA Program has been gaining prominence since it was first introduced as a management course by the Harvard Business School in the year 1908¹ and today is offered as a program by universities globally. The reason for this program was and still is to prepare students for the ever-changing business environment and provide a scientific approach to understanding the management aspects of the business.

With time the degree has not only gained significant goodwill and popularity amongst parents and children, but it has also evolved to be the Gold Standard of Education globally. That is probably one of the reasons even I chose to pursue an MBA.

It’s been over three years that I have completed my degree, and in hindsight, my education still feels incomplete to a great extent. I don’t blame the institute I studied as that was my choice as the overall experience was one to cherish, but I wish my education were more related to the career I am pursuing. This thought made me realise that maybe an MBA is not always the answer, and it certainly isn’t enough to rely on.

Some of the reasons that an MBA is simply not enough are:

Education Relevance vs Career Opportunities

While MBA programs have evolved with time to include specialisations such as Entrepreneurship, Marketing, Finance, etc., the programs are still not well equipped to prepare students for a wide range of profiles that each industry offers. Simply put, you have one or two years to learn as much as you can about one field of study. The fact that the process of learning is time-bound shows you the limitations of the scope of the study.

False Sense of Security

The notion of pursuing an MBA is so exciting and filled with so much promise that most of us believe it is the answer to all our future professional problems. Most people believe that an MBA is your gateway to getting a job, good pay and a work-life balance.

An article in 2020 indicated that only 35% of the MBA graduates land up getting jobs². The sheer global supply of MBA graduates in the job market has led to the program losing its value over the years and proving to be