MBA in Post COVID Era - Career Progression and Job Security

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8 Nov 2020

How Relevant is an MBA in the Post COVID Era?
- admin
COVID 19 crisis has forced the entire world to re-evaluate work, careers and life goals. In the post COVID era, apprehensions over career progression and job security along with more disposable time are pushing students as well as working professionals to think about how they want to pursue their goals. One of the big questions many young leaders are facing today is their pursuit of a master’s degree, specifically one in Business Management. Investing in the skills that will be in demand as the economy bounces back from recession & crisis, can pay huge dividends for anyone’s career trajectory in the post COVID world.

However, according to the Association of MBAs (AMBA), over 60% of employers lack confidence in the state of the global economy, which is an unsettling sign for the MBA job market.

The relevance of an MBA in these times could have many long term implications. Let’s understand them by looking at both sides of the coin.

Why you should consider an MBA right now:
- Upgrade yourself: Demand for a fresh perspective and entrepreneurial vision in the times that follow might drive one for courses like PGDM and MBA. While one may be adept at their current jobs, now is the time to really self-reflect and upgrade one’s skills to suit the new normal. Especially the unavailability of jobs and suffering economy make opting for an MBA right now a better utilisation of time.
- Learn the right business skills: As the crisis continues, it is becoming clearer that future roles will require new skills and innovative techniques for problem-solving. Essential skills like adaptability, ability to handle a VUCA world, digital agility and interpersonal skills are key and a good MBA or PGDM degree will focus on these. In the near future, this can give the MBA aspirants an edge over the others in the job market.
- Booming sectors: In the post COVID era, an MBA with a passion for specific industries like pharmaceuticals, healthcare and consulting would have many opportunities to choose from
- Virtual career fairs: These times have also presented with a remarkable future of recruiting through Virtual career fairs. Here, companies from across the globe get to interact with MBA students and offer them jobs. This can prove beneficial to both the recruiters and students as it cuts down the travelling logistics for the recruiters and widens the horizon of job opportunities for students. Therefore, MBA degree right now can prove to be a great support system for even those who want to work globally.
- Be ready for an uptick in the economy: This is also being regarded as probably the best time for appearing for CAT, GMAT and other similar exams. By the time current batch MBA students pass out in 2022-23, the economy would be seeing an uptick. Armed with new skills and a fresh perspective, current MBA students would be at a big advantage.
- MBA on digital platforms: Institutes have taken the initiative to provide virtual classes to facilitate teaching and ensure that students don’t lose valuable time. This is a breakthrough in the world of higher education, wherein despite the institutes being at home, one can still earn an MBA degree.
Cons of going for an MBA right now:
- Loss of potential income: In these times of distress, some students may be worried about dropping out of the workforce. To invest in oneself and study might be perceived as a difficult decision.
- Traditional MBAs with a theoretical approach: Students are not looking for mundane education but for practical & innovative processes and insights into the functioning of the business world. This holds even more importance now as these unprecedented times have shaken up the economy and old practices and strategies may not be applicable anymore.
- Tough job market: Many organisations have seen a hiring freeze and professionals are getting laid off due to losses incurred owing to COVID 19. This could be a worrisome cause many professionals.
- Increase in automation and outsourcing: The pandemic has also exponentially accelerated the trends of automation and outsourcing, making it difficult to secure a job with a reduction in the requirement of manual work.
- Worst hit sectors: MBA might be a bad choice for people who were planning for business administrative roles or entrepreneurship in the transportation, hospitality and tourism industries.
One needs to take into consideration all the pros and cons, weigh them up and analyse how it is relevant to each individual’s situation. There’s no one-size-fits-all answer when it comes to a decision like this.

Though, pursuing an MBA has worked wonderfully well for a large number of young professionals. According to the GMAC’s (Graduation Management Admission Council) Alumni Perspective Survey Report:

-Over 80% of B-school alumni are employed, whether for a company or as self-employed entrepreneurs.

-B-school alumni are employed across a range of job functions in different & new industries.

-Majority of B-school alumni feel management course advanced their careers at a faster pace compared with the peers who do not pursue a management course.

Decoding the facts:

While one may need to re-assess in the short term, investing in oneself and one’s career especially with an MBA can prove to be constructive even in times like these.

As the operational ability of business now rests on digital infrastructure, as workforce operates remotely and international trips are replaced with virtual conference calls, one can decipher that tech-savvy MBA graduates will be in demand soon.

There is no doubt that businesses are struggling and the economy has slowed down at the moment, the extent of which is somewhat comparable to the financial crisis in 2008. However, it is believed that the remedy could be as quick as the setback.

So, taking a break from the job market in one of the worst-hit times for the economy would be a wise choice and giving yourself an upgrade with an MBA an even wiser one.

With MBA now being taught digitally, it has become even more convenient to apply for and earn a degree and new perspective into the business world without compromising on the quality of education or the experience.

An MBA could enable one to stand out in a crowded job market, give a better insight into the business realm and even help one to establish a strong network of peers, mentors, academicians and industry support, while the economy gets back on its feet.

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