Bhartesh0803
Hi People, request for valuable suggestions.
I come from a core Mechanical background and have 10 years of experience. My package is in low 20s lpa at the moment. Given the fact by the time I am able to secure admission, if I secure it into one of the IIMs(my target),I will have almost 11 years of workex. Therefore, is it advisable from ROI as well as career growth pov to leave the job and go for Executive MBA, lose one year opportunity cost and also bear the hefty education loan? Since, I come from core Mechanical background viz product design and development, my inclination is towards Product management role.
Need some suggestions.
Bhartesh0803 hope you are doing great
I, too, come from a mech/industrial background, and over the years, I have helped folks from this industry secure admits to IIM A; most were your age, and I feel people tend to exit this field at a later stage because the jobs and roles are so well organized and systematic.
You present an interesting conflict that has been going on in your mind. How about you think which of the three factors - "comfort" or "passion" or "money" played the most significant role in keeping you in this field for ten years? I am more inclined to think it is between the first and second, especially because you stayed beyond five years when most talent tends to move on to higher education or high-risk ventures for greener pastures. If you feel good about having a certain level of comfort/work-life balance in your job and still feel passionate about the role you have been pursuing, you certainly do not need to move on. You may be set up for success and leadership positions in your field/company, given your vast experience. But only you know what opportunities lie ahead of you currently in this job.
However, if you wish to explore a new realm of the industry in a role you may not have pursued before, would like to be challenged by something new, get fast-tracked in your career or start something of your own, get decently compensated, make cross-industry connections, and most importantly learn something new in school, this might be a good time to do an MBA/PGP. It might sound cliche, but MBA/PGP is more of a long-term investment. But having said that, I am sure you would at least double (if not more) what you currently earn after your MBA/PGP.
Having said the above, an MBA is definitely not a must have for a Product Management role. However, for someone who is trying to build a well-rounded perspective of how Product Managers enable technology businesses to develop market fit, having an MBA can definitely be a plus.
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