MBA is the most sought-after post graduate degree and students are willing to pay an extortionate amount just to get admitted to a B-school. And this investment is a long term investment with long term ramifications to a student’s career. And because it has a profound impact on one’s career, students and parents are skeptical during the admission stage. Students and parents are skeptical when the economy is booming; they are skeptical when there are jobs galore; and they are skeptical even when they are admitted to the top-most B-school.
So, it is obvious that students and parents will be skeptical about pursuing an MBA during a crisis. The obvious question is - should you pursue an MBA during a crisis? Postponing MBA to an opportune time of flourishing markets would be a bad (management) decision.
Timing Would Never Be More Perfect To Beat Competition
The first question that students and parents need to ask is whether they are the only ones who are worried. Every student with an MBA dream is skeptical about pursuing this dream education. So, the timing can never be more perfect to start from November. Most students are awaiting the June 2021 batch to take admission. This gives the November batch an eight-month head-start to leadership.
Let’s admit it, the world is facing a recession. But, luckily it’s nothing like the Great Depression it once witnessed. Market sentiments are a positive factor to consider. The pandemic at the outset threatened to shake the world economy, but barring occasional seesawing, the share market has held its own during the crisis. This proves that although skeptical, people are still investing as they are aware that the economy will bounce back sooner than later.
The last recession proves this point. It was in the year 2008 that the world faced its last recession due to the breakdown in the financial system. Economic pundits predicted a repeat of the Great Depression, but the world bounced back from January 2009. So, even during this recession, the world is bound to re-bounce after six to eight months; and it would be a smart choice if students progressed with their education.
Learning Through Real-time Experience
Visiting faculties are a valuable resource of B-schools. MBA students will get the opportunity to pick the brain of visiting faculties who will be dealing with this downturn in their industry. Students will get a real time know-how of the business landscape dealing with the market dynamics. Institutes too would update its curriculum to include the steps taken by businesses to cope with the current scenario. Furthermore, every B-school has entered into strategic partnerships with businesses, thus receiving information regarding business strategies and knowledge, and skill gaps that need to be filled. B-schools also adapt innovative pedagogies by refocusing the research undertaken by students and faculties.
In conclusion, it is not the first time the world is witnessing a downturn. Economic downturns were a reality even in an erstwhile world without MBA. But, the world has always adapted and innovated. This crisis is unfortunate, but it also presents an excellent opportunity for MBA aspirants to start their MBA journey.
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