Chaos is too small a word for what this pandemic has caused. It has affected millions of lives across the globe — including increasing unemployment, decreasing standard of living, and grappling healthcare systems. Education, especially postgraduate education, is not at the forefront of the pressing issues list of most economies.
On the flip side, as companies are actively looking for more efficient employees with limited resources at disposal, an excellent post-graduate education can amp up your chances of getting a great job profile, even the pandemic-infused chaotic global markets. Let us comprehend the different aspects of applying to B-schools during a pandemic for you to make an informed decision.
Competition:
Are you in doubt about applying for an MBA program?
Well! You are not alone. These unprecedented times may discourage many MBA aspirants from applying to B-schools this year.
Hence, it would ease the competition for the MBA admissions — resulting in a high probability of getting an admission in a great MBA program. If you can tap into this opportunity, you would have improved career prospects in the future.
Even business schools have been actively adapting to the changing times and new normal. Additionally, the admission aptitude exams like GMAT, GRE, IELTS, and TOEFL can now be taken at your home. Taking the test home would give more confidence and comfort than taking it at the test center.
However, don’t take this trend for granted. This trend may not last long— the reason the anticipated economic decline would only encourage more people to apply for higher education like MBA. As career prospects in the job market get slimmer, people would want to improve their profiles with higher education and better skillsets.
An MBA is such a higher degree for students and professionals coming from different streams and industries. Even during the past economic downturns such as the 2008 recession, business schools have experienced a surge in MBA applications.
Hence, be quick to leverage this opportunity as it may not last long.
Will be missing the campus experience?
With the pandemic seeming to stay here for now and different countries having different types of safety measures, it might not be possible to experience a campus life like before. If you wanted to do an MBA for the comprehensive experience, which would also include a distinguished student life at the campus, you might not get that now.
An Opportunity to boost your career
As the economic slowdown deepens, the job opportunities in the market shrink. In such scenarios, working professionals turn towards higher education when they cannot find jobs.
This is an extraordinarily prudent decision because students start their MBA when the economic downturn is surging will also pass out when economic recovery begins— the right time to find appropriate and improve job opportunities. This has been the case with b-schools graduates of classes 2011 and 2012, who passed out at the right to take advantage of post-recession economic recovery.
Demand for education is not an issue at this crisis time for business schools; instead, it is an influx of applications that the b-schools have to deal with at this time. However, this pandemic also presents a unique challenge in the form of strict lockdowns and travel restrictions.