Long story short, you should definitely do an MBA if you wish to grow your career in the field of product management in India. Here are 5 reasons why:
- The Network: If you get into a good, full-time MBA program at any of the top 10 colleges in India, you will become part of a ready network of alumni. Pretty much every large tech. firm in India has one or more IIM/ISB alumni working in a senior role today.
- The Knowledge and Skills: I have previously written about the challenges of becoming a one-dimensional product manager. Obtaining first-class training on marketing, strategy, finance and organizational design will have a huge impact on your ability to contribute effectively in many more dimensions. Additionally, strategy formulation, project management, statistical analysis, linear programming and soft skills such as negotiations, effective presentations etc. are not necessarily learnt in IITs/NITs or on the job. Doing a full-time MBA forces you to practice these skills.
- The Job Interview: End of the day, everyone wants to be a part of a top notch product management team at a top organization such as Microsoft, Google, Amazon, Yahoo, IBM or others. An MBA from a top college will make it easier to get your resume shortlisted, when you are starting your career. It will also open doors when you want to change jobs and you have the relevant work experience.
- The Safety Net during Recession: Ignoring the contempt about GOMBAs (Grossly Overpaid MBAs) and their lack of skills, the MBA is the preferred degree when you are laid off, in a recession or likely to face salary cuts. They have the most mobility within the organization and across companies and roles if facing involuntary movement from product management.
- The Confidence: Let’s face it, wearing the hat of a product manager every day while dealing with every department in the company can be daunting for most of us. Gaining admission to a top MBA program and surviving it will give you the edge when you are dealing with anyone in the workplace.
If you are not able to get into a top MBA program, it does not matter. There are still plenty of organizations where you can hone your skills and gain practical experience while looking for career growth opportunities.
A part-time MBA can also be useful, but I would be extremely cautious while evaluating the B-school, the maturity of the program and the subjects and quality of course work it offers. Do not join the program just because it’s cheap or because it allows you to work while you study.
Finally, if you graduated from an IIT, NIT or another top college, you can probably continue in your career without an MBA. But even then, you should consider a part-time MBA or a Masters in Technology for the skills and advanced knowledge they provide.