GMAT 2020 NEWS
Pursuing MBA during the global pandemic creates a question about the quality of study, and employment after the study. But, completing MBA programs during the COVID-19 recession shows a brighter side. Yes, it sounds unbelievable to get a ray of hope amidst this situation but it is true!
Research shows that amidst this negative situation, the positive sides of COVID-19 can be seen in terms of internships and job offers for MBA candidates. The entrepreneurs who had started their ventures during the recession or financial crisis or faced a recession after starting had agreed with this fact.
Not just that! Right now, most of the top B-schools (6 out of 10) have plans to expand their career offices with the hope that more companies can engage the MBA candidates in the virtual environment. It is not just a prediction – it is according to a survey report.
On August 3, MBA Career Services & Employer Alliance presented a report after a survey done on 250 business schools and organizations. From this report, the findings were
The most interesting factor found in this survey is – the career service functions will remain virtual in the upcoming time. The study will also be continued in the hybrid format as it is going right now. The following statics are very interesting in this regard:
The following graph gives a clearer picture of the participants’ willingness to go virtual for different tasks:
It means a majority of the participants are willing to go virtual. Moving on to the teaching model, a shift to virtual mode is seen during the COVID-19 times.
84% of the participant B-schools in this survey, confirmed hybrid mode and 13% confirmed virtual mode of study for MBA of 2020 fall. Wharton School of University of Pennsylvania announced to move to “mostly virtual” from a “fully hybrid” mode of teaching.
Along with that, there will be some changes in the career services of the B-schools as well.
The main changes in terms of career service due to the COVID-19 can be:
These statistics are quite impressive and it indicates a silver lining for those who will complete MBA during the recession of COVID-19.
Yes, the economy of almost all the countries is going through a difficult situation due to COVID 19 – it will not be wrong to assume that “This too shall pass” and slowly we will slowly come over the tough time. If not, we will find a way to see the light amidst the darkness. It is not just the report of the survey – it is proven!
There are actually many more examples like this where the big companies of today, started just as an entrepreneurial venture during an economic recession or faced a recession in the initial days. At that time, the virtual was not in, but not it is an advantage. So, obviously completing MBA During the COVID-19 recession shows a silver lining - it’s not completely dark.
So, the candidates with an MBA degree will not struggle even during COVID times. It will be better for the candidates to concentrate on their studies. The B-schools will be assisting them in every possible way to get a placement or to start own venture. Remember, this is the tech era and several companies are/will be working remotely and hiring is not paused at all – the process of hiring is changed.
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