Many 40-plus executives go in for MBA to fast-track their career

Many 40-plus executives go in for MBA to fast-track their career

“Several senior executives realize they lack a firm wide perspective that will help them to move into leadership roles”.

Being on the wrong side of 40s is no reason not to go to a B-school. In a country where an overwhelming majority of MBA students are in their early 20s, top institutes like Indian School of Business (ISB), MDI Gurgaon and the IIMs are seeing a steady trickle of 40-plus executives signing up for a mid-career MBA hoping to fast-track their rise.

One of them, Sudhakar Murthy, 56, is now in ISB’s current PGPMAX (Post-Graduate Programme in Management for Senior Executives) batch. The group CEO of Dubai-basedAcore Group - it earns $10 million in revenues from aviation, education and media – has worked for 32 years in which he was an entrepreneur for seven years. “I needed to learn the language of the 27/28-year-old managers,” he says. “At my age, I thought all that I’d learnt was stale. The whole world has changed.”

Rajiv Nair, former business head of general merchandise and apparel at Hypercity Retail - he completed ISB’s PGMAX in 2011 – is another example. He has since become the CEO of Celio Future Fashion. He was keen to hone his skills as a business manager and profit centre head. “There were certain things I was good at earlier and certain areas where I needed to garner knowledge. This course helped me bridge that gap and gave me the motivation to move.”

Need to Reskill in Challenging Times

A tough, ever-changing economy demands people stay on their toes.

So, some of these 40-plus students are returning to learn some new skills while sharpening their existing ones. Others are going for the opportunities that an advanced degree may bring them, in terms of better, higher-paying jobs or even providing an edge in an increasingly competitive environment.

Many such 40-plus MBA students do not have a formal management degree or have gone through one several years ago, says Deepak Chandra, deputy dean, ISB. “Several senior executives, especially those who have risen rapidly in their functional domains, realise they lack a firm wide perspective that will help them to move into leadership roles,” he adds. In ISB’s PGPMAX, a majority of students are 40-plus.

At the IIMs, the average age of students in the post-graduate programmes for executives with significant work experience is 30-32. But Sudhir Kumar, a second-year MBA student in IIM-Kozhikode PGP course, where students are even younger, is an exception. He is 54. The former chief manager of Syndicate Bank quit his job to pursue an MBA.

Kumar sat for CAT on a whim while helping his daughter out and cracked it himself. Once he got a call from IIM-K, he was hooked. “I thought I’ll recycle myself,” he says. “Otherwise you get stuck with the same ideas, the same notions.” He lost his legs in an accident and operates with an artificial limb.

Many civil servants and IAS officers are also opting for a mid-career MBA. Devbrat Negi, 50, a commandant with the Border Security Force, MHA, is studying in MDI’s PGP-PPM. The course, he says, has given him an invaluable grasp of corporate finance and financial markets, which are relevant even in his government job. “This is extremely useful in the implementation and maintenance of programmes for better utilisation of public funds,” he says. Such government candidates, SK Tapasvi, chairperson of PGP-PPM says, are handpicked for key postings or given key appointments.

Anecdotal evidence suggests many who have opted for an MBA after crossing 40 have fared well. They have started new ventures and the existing entrepreneurs have either diversified or expanded their businesses. Executives have moved into leadership roles in their own organisations or have been hired by others.

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