As the saying goes, age truly is just a number. Learning is a continuous process, and you can acquire knowledge and keep learning, regardless of how old you are.
MBA is a universally recognised post-graduate degree which inculcates management abilities such as decision making skills, problem solving skills and communication and delegation skills. among future business pioneers and visionaries. A typical MBA degree covers a wide range of business activities like marketing, advertising, etc. Applying to business schools is an outstanding choice, particularly for those in the age bracket of 26-30.
There are mainly two types of MBA programs. These are:
- A standard 2-year MBA program
An MBA program which is pursued after completing graduation is a 2-year MBA program. There are no restrictions on pursuing this type of MBA: A candidate of any stream can pursue it.
A typical 2-year MBA program offers many specialisations, such as business analytics, digital marketing, finance, marketing, entrepreneurship, advertising, business economics, materials management and international business. Among these, the most popular two are marketing and finance.
- Executive MBA programs
An Executive MBA, or EMBA, is a graduate-level business degree. The primary aim of this degree is to instruct and improve the skills of working leaders, directors, business people, and other business pioneers. After completing an EMBA, a candidate may have a substantial edge over their peers as EMBA is an advanced form of a regular MBA. But before that, prior work experience is a must. The following specialisations are available in an EMBA:
- Human Resources
- Information Technology
- Hospital Management
Apart from age, there are two different variables you should consider while applying for an executive MBA degree:
- Requirement for an Executive MBA degree
This question is one of the most critical that comes to a person’s mind before applying for an executive MBA degree. The minimum work experience requirement for an Executive MBA varies from college to college. Since this is a degree for working professionals, work experience is the primary criteria of eligibility.
- Your readiness for an Executive MBA degree or a Normal MBA degree
You have to manage an executive MBA course with your work. You have to devote time to both so that one activity does not affect the other. Usually, the best age for an Executive MBA course is 28, as per the trend seen in the last five years. For a regular MBA degree, however, you don’t need to worry as you won’t have to manage work with it simultaneously.
If you compare the best age for an MBA in India with other countries, you will find significant differences.
A Statistical Representation of the Effect of Age on Pursuing an MBA
In 2014, Bloomberg surveyed more than 10,000 people who expected to join graduate business schools for full-time MBA programs. The study shows that in their mid-twenties, candidates excel in their professional life. They get economically stable during that age.
A 28-year old aspirant may have more educational and professional experience than a 24-year old aspirant. So, the 28-year old candidate has greater chances of securing a seat in an esteemed B-school. Also, the pay levels offered are higher for candidates in their late twenties.
Factors Affecting the Decision of Pursuing an MBA at a Higher Age
Most colleges believe that applicants in their mid-thirties or late twenties are capable competitors who can pursue an MBA. Nonetheless, the aspirants need to remember the accompanying components. These are important and significant and should be considered before deciding on admission to an MBA college. The points are as follows:
- Career development
People who wish to pursue an MBA during their early thirties or late twenties are known as ‘deep career switchers’. They acquire the most profitable advantages from their profession at this phase of their career, and their income gets consistent. Undoubtedly, they can enjoy top positions in their companies if they have an executive MBA degree. The MBA degree will make an impact on the candidate’s future ventures and improve his or her confidence.
A candidate can stay abreast of different administrative characteristics required to get a top position in the company.
- Personal situation and the right set of study materials
It is expected that with age, you will slowly start to notice a lack of interest or energy towards regular academic studies, and it may gradually seem challenging to learn and grasp new concepts.
If you wish to pursue an MBA at the age of 30 or 30+, you may be bogged down by other commitments, and it will not be easy for you to manage them all. You may have a family, and you may be occupied with some obligations on that front.
- Do you think you have waited too long after your formal education years to pursue an EMBA?
If you are equipped with the correct arrangement of books and a good preparation strategy, you will get the desired GMAT scores. The prospectus of the test includes basic and advanced topics which the candidates generally learn in their secondary school. In this manner, you do not need to stress over learning complicated subjects to clear the test.
So, the best age for doing an MBA will be in your mid or late twenties.
To secure admission to a reputed and top business school in India, you must crack the GMAT or other entrance exams. It is advisable to do an MBA at the age of 25 or 26 as it may be difficult for you to prepare for the entrance exam at the age of 30 or more, as you may be adjusting to a busy career and certain obligations that you may have to meet for your organisation. At the same time, you may have certain responsibilities to your family. So, you might find it challenging to plan for the test with complete dedication. To avoid this, you consider completing your MBA in your mid- to late-20s itself. However, this is a matter of personal preference, and if you feel you are well-equipped to complete an MBA or EMBA at a later age, you should not hesitate to apply for it, as it can only mean good things for your subsequent professional endeavours.
If you’re one of those looking at pursuing an MBA course once in their lifetime, starting to prepare early after your graduation is a good idea. However, there being no age restriction to an MBA or EMBA means that you can pursue the degree no matter how old you are. Studies suggest that the best age for pursuing a normal MBA course in India is 25-27, and for an Executive MBA, it is 28-30. However, these are just numbers, and remember that you can do an MBA at any age!
You can reach out to MBA degree holders and visit B-schools for additional information. In any case, don’t apply in haste, be cautious, and choose your school wisely.
You can find many reputed universities and colleges in India that offer both normal and executive MBAs at very reasonable fees. The fees may differ from institution to institution. Do some thorough research and prepare yourself for the long haul. Most importantly, don’t be afraid to chase your dreams no matter how old you are.