Is investing in MBA still worth during this time of Global Crisis?

COVID-19 has brought challenges for everyone. Who all will tackle with them strategically, may find the way out. Students, who are graduating this year from college or not, their learning is going to get suffered anyway. They have to get the best out of the worst and learn consistently.

No one has to stress out because crisis makes people learn and survive through difficult circumstances. So if you are one of them, congratulations! You are going to get immense learning through the crisis.

But what about the students who are graduated and want to pursue an MBA?

More than 5 Lakh people appeared for various competitive exams such as CAT, MAT, CMAT, XAT, SNAP, and so on. They might be experienced or fresher. They might have done, BBA, BA, BMS, Engineering, and so on. How many from these are actually going to join B-school this academic year?

Rethinking the purpose of MBA

Whether to invest in this academic year or may be next year, a tough decision making has to be done by MBA aspirants. With canceled internships and revoked job offers, fresher needs to rethink the purpose of an MBA.  If the major purpose is on-campus learning and exposure, then this year is not good enough to invest in an MBA.

On the other hand, look at the market trends, there are layoffs and pay cuts. If people opt for MBA, they give their 200% effort to gain knowledge, learn newer skills, do strong networking, then they are the ones who are getting most out of it. You know why?

Because they will be looking for a job after two years. At a moment, they will be concentrating on gaining knowledge and skills. They will be concentrating on networking and holistic development. They will shape their attitude to fit into the corporate world. They will build their confidence as well as the ability to enter into the corporate world.

Hence, fresher will pass the recession along with getting knowledge. After two years, they will be more likely to get a job. What is better than that?

What about people who already have a job?

People, who have a job and want to pursue MBA or Executive MBA might be still confused. As they have jobs and confused about whether to invest in an MBA.

What is the purpose of them? If it is to get knowledge regarding the field they like, they can definitely join. Because they have some experience in the corporate world and they have some idea of how it works.

But, a few people might think, “What if the job market gets worst? Leaving my job at the moment consists of a huge risk!” These people have always an option of pursuing an MBA with distance learning. They will get the knowledge they need, they will be stress-free, as they are pursuing an MBA while having a job at hand.

These people have one more benefit. They can apply concepts learned in their jobs. They can gain theoretical and practical knowledge at the same time, the best combination a management student can ever have.

Still not able to decide and want to consider a few more points?

Who can invest in MBA in the academic year 2020-21?

1. Who are passionate to talk to people virtually and do networking on professional social media i. e. LinkedIn! So that they can find opportunities for internships and jobs.

2. Who are passionate about entrepreneurship or will join the family business!

3. Who are okay with not having on-campus events and competitions!

4. Who has an efficient internet connection at their residence and can sit 7-8 hours in front of the screen!

5. Who are passionate about industries, such as FMCG, pharmaceuticals, and so on!

So now, you must have decided whether to opt for an MBA program this year or not.

If the answer is yes, continue reading. There is more to know before you pick universities and start applying. A decision maker would want to be fully informed before making a final decision.

How to choose college/university during COVID-19?

1. Who can provide online classes/tests/study material!

2. Who have altered their courses to learn from the global crisis!

3. Who stands by your side for internships and final placements!

These were the tips for choosing college/university during COVID-19. MBA aspirants may also want to know how to chose an MBA college in general, so for detailed information on this refer: what to look in a MBA college or university?

Here, the journey does not end. When students will complete MBA in the year 2022 or 2023, they will be competing with not only students from other B-schools but also other job seekers, such as laid-off employees, job changers, fresher, and so on.

To sum up, people need to consider what kind of skills they want to develop in the next two years in order to stand unique.

So get ready for the competition.

Be confident.

Make sure you stand unique in the crowd. Good luck!

Author: Pooja Metai

Also Read: Life of a B-school student in times of covid

Also Read: When is the right time to do an MBA – with work experience or as a fresher?