1. Anyone can do an MBA
Perhaps anyone can complete one of the low quality MBA programs available. However, to attain an MBA from a respectable B- School will mean a lot of hard work and dedication.
2. All MBA Schools are equally good
If you are looking to improve your career path, enhance your salary or develop yourself then only a few good MBA programs will be of any use. Top business schools are ranked highly in reputable MBA rankings
3. MBA Rankings are not that important
Attaining a top ranking on one of the influential MBA rankings is extremely essential to the reputation of an MBA program as this enhances the chances of good placements and career progression
4. An MBA guarantees a high salary
Attaining a good MBA makes achieving a high salary more probable however there are no guarantees. Just as career progression isn’t guaranteed by having an MBA so a high salary isn’t guaranteed either.
5. Distance/Correspondence MBA Courses are adequate
Not at all, as a great part of MBA programs is learning from others in your class and learning to work in high performance teams.
6. MBA Programs are expensive
Good MBA programs are costly to attend. However, an MBA should be treated as an investment rather than an expense.
7. Competent business people don’t need to do an MBA
Self development is necessary to better oneself and employers frown upon people who do not enhance their skills. An MBA program is one of the best ways to do so.
8. Experience isn’t necessary to attend an MBA Program
Having relevant experience, and being able to apply that experience to MBA studies, is essential in getting the most from MBA programs.
9. An MBA Program teaches everything needed to succeed in business
Wrong! Natural ability is indispensable and MBA programs don’t teach absolutely everything. If for example, you are a terrible communicator, then completing an MBA won’t necessarily make you any better at this essential competency.