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Does the current situation due to the COVID 19 lockdown seem like something straight out of a sci-fi apocalyptic movie? Unfortunately, such a movie has become our current reality. It is no fiction that businesses and countries worldwide are facing a monetary drawback due to the Corona pandemic. Since we don’t have a lot of information about it, our best bet is to stay home and stay safe. However, staying home does not mean we cannot plan. Doing an MBA during the COVID 19 crisis may seem like a far fetched idea, but planning for it should not. Need to upskill ourselves for a better future is imminent, so why not use this time effectively and to our advantage. So the question that must be popping in many MBA aspirants heads is "is it the right time to do an MBA? If I do plan an MBA during COVID 19 crisis, what should I plan for exactly?". Luckily for you, these are the things we will discuss in this write-up, so read on!
If We Plan An MBA During COVID 19 Outbreak, What Should B schools Offer?
Remember the economic crisis of 2008-2009? A recorded half a million people had to lose their jobs and livelihoods. Now that the global recession due to this crisis looks impending, one sector that may take a very obvious blow is employment. According to the International Monetary Fund chief, Kristalina Georgieva the world economy is facing “severe” economic damage and that the coronavirus recession could be worse than the one we saw in 2008. However, this does not have to be a doom and gloom situation entirely, the unemployability and losses that businesses had to incur in 2008-09 also led to a rise in the number of MBA applications. The logic here is quite simple, the increase in unemployment or fewer new job opportunities out there hinders the job jumps and switches that perhaps a growing economy would have to offer. With this, several people flock towards higher education institutes in the hope of adding value to their CV’s and augment their skills & learnings. The answer to the question, “what is the right time to do an MBA?” is not as simple. Whether the economic recession will come or not is not in our hands, but dealing with it is. Hence, despite the recession that may follow, one can still successfully plan an MBA during COVID 19 crisis. The silver lining to this big grey cloud is to make an effort into upskilling, preparing yourself to take charge by investing this time into doing that MBA! And that too from a good B school. In this article, we are going to tell you why the economic crisis might be one of the best times to pursue an MBA and what the B school should be offering to make your degree a success in this time of slow economy.
Curriculum Aligned to Changes In Industry
In the aftershocks of the coronavirus, the industry and many businesses will have to change in the way they function and proceed. B schools invest in your future in many ways, primarily through placement assurance and teaching of a program curriculum that is industry-oriented and caters to the current demands of the industry. So make sure, along with you learning the basics of running a business, you also learn about the ways to deal with an economic crisis like the COVID19 outbreak. This way, despite the shelving of employees, companies would require skilled and business-ready MBA graduates to lead their organisations.
Taking Responsibility for Your Career
Economic recession is the time for fewer opportunities, it is advised to make sure the B school that you go for offers to shoulder the responsibility of your career with you. Apart from the placements and curriculum, the institute has to offer, there are several ways the B school can facilitate the success of your career. With the increasing competition and rise in the number of B schools around the country, there are a lot of fresh ideas of fee payment that would be quite helpful to you in the long run and provide you with the best ROI. Fee payment options like No fee, No placement, Money-back guarantee and pay after placement are a few examples of some groundbreaking fee models you should be looking into.
With the building competition among B schools and the array of facilities they have to offer, one thing you can make sure to opt for is placement assurance. In the end, it all boils down to being job-ready and having that corporate job. But with the uncertainty of what’s going to happen in the coronavirus aftershocks, it is always better to go for a B school that offers placement assurance to its students.
Building a Network
B schools are not just about studying and no play. A good B school offers ample opportunity to connect with industry experts, internships with organisations and help build a network. It is a known fact that in the corporate world, your network decides your net-worth! So use your time at the B school wisely, connecting with guest lecturers, industry experts and alumni to make the most of your experience during an MBA.
High Return On Investment (ROI)
Be it a global economic crisis or not, an MBA sure is an expensive degree. One factor that outweighs all others, especially in the case of an MBA is the Return On Investment. ROI is not just in terms of money but also in the amount of time and effort one has to put in. A good B school requires one to slog it out not just to get admission, but also as a student. So make sure that the investments you have made in your MBA degree reap the rewards you hope for. In other words, make sure that after the completion of your degree, you are on the road to a rosy job profile and a hefty pay package. In conclusion, the idea of planning an MBA during the COVID 19 crisis may seem implausible, but most successful ideas and solutions do. The facts stated in this article are no farce and a B school that offers all this and more does exist. Sunstone pioneers the concept of pay after placement fee model in India and provides the best ROI one could imagine. Apply Now as the application process has already begun.
Sunstone is a leading higher education service provider that works with academic institutions in up-skilling students for employability. Sunstone offers career oriented training interventions for undergraduate and postgraduate students at 30+ institutions across 25 cities.
Sunstone’s training programs are industry endorsed to enhance employability. These programs are designed for hybrid delivery with unparalleled focus on soft skills and personality development. Sunstone’s focus is to provide students with holistic educational experience.