“MBA is the best investment during recession,” screamed the headline of an article in Economic Times last year. The renowned publication made the big claim after taking into account opinions from industry and academia experts in India and abroad. It was when our economy had shown early signs of a downturn and yet B Schools like ISB, Hyderabad saw a rise in number of applicants to its flagship program by about 20%. Today the economy is headed for a downward spiral with the impact of Covid-19 pandemic and ET’s theory stands stronger than ever.
B-Schools globally, which had seen a drop in number of applicants lately, is seeing a surge this year, all credit goes to COVID-19. Management institutes in India are no different. It’s a curious case of why rise in MBA applications goes hand in hand with recession. But according to experts, the logic is fairly simple. Recession leads to fewer opportunities for career growth and interesting job profiles. MBA enables you to add value to your CV while boosting your industry-required skills to the next level. And top Indian B Schools are geared up to equip you with these cutting edge skills.
Reasons why you should pursue your MBA during recession include:
- Build a strong foundation across different domains of the business world while getting first hand insights through live projects and case studies. Top B Schools like Jaipuria Institute of Management, MDI in the country constantly endeavor to create a seamless blend of theoretical learning and practical exposure.
- Pick up new age specializations in your area of interests or fields that are predicted to boom in the near future. For example, Jaipuria Institute of Management is offering sepcialised program in PGDM (Financial Services), PGDM (Retail Management), PGDM (Service Management), which can give you a foothold in lucrative sectors. Not only that Jaipuria has an option for Industry-run-certificate courses by BSE, KPMG, Thomas Assessment, IBM Analytics, TrakInvest, and British Standard Institute (BSI). These courses are over and above the electives and students have the choice of opting for one.
- Boost your long-term career prospects with new age skills like Business Analytics, Artificial Intelligence and Machine Learning while mixing your MBA major and minor areas. Most of the premier B Schools like ISB, Hyderabad, SPJIMR, Jaipuria Institute of Management also incorporate these courses into their on-trend curriculum.
- Imbibe leadership skills that will take you a long way in your career. According to industry experts, it is one of the most sought after skills for candidates for management jobs. B Schools encourage you to be part of various student clubs and take an active role in organizing activities and events, which polish the leadership skills in you.
- Network you can rely on for the rest of your career. Renowned B Schools have a strong industry connect and alumni network, which you benefit from. And at a time like this with rapid changes in the world, your network is to decide your net worth in more ways than one. At the same time you can build long term bonds with your faculty members and mentors.
- Get placement opportunities that fast track your career growth. Even during the pandemic and subsequent lockdown, top Indian B Schools have performed brilliantly as far as placements are concerned. In fact, blue chip organizations and e-commerce companies are hiring MBA graduates from top B-schools in full-swing to help them establish order and market in the new economy. Jaipuria had fared well in placement despite pandemic.
Remember recessions don’t last forever, your skills and the transformational experiences B Schools provide do. You can build on those skills and insights to work towards a future-proof career.