Should you do an MBA during Corona crisis? With Abhishek Kothari, IT, ISB, Co-Founder FlexiLoans

Not everyone has money to burn especially when the entire world is affected by the economic repercussions of the novel coronavirus pandemic. And when it comes to pursuing an MBA, the first thought that flashes in our minds is its exorbitantly expensive 2-year duration. Many even try compromising everything but end up falling into the trap of brutal investments and loans. So, it is fair enough if you are in an acute dilemma whether you should do an MBA during the Corona crisis or not. Another constant worry faced by every MBA aspirant is even if they muster all the courage to break the bank and pursue an MBA from a premier college, will they be able to bring home the bacon during these bleak times?

Well, to put all your worries to rest, we have Abhishekh Kothari, an alumnus of IIT Bombay and ISB Hyderabad. A better description of him can be found in his journey of surviving the Great Recession of 2008 and becoming an accomplished entrepreneur thereafter. Let’s learn from the insights of his rich experience and how to play smart to sail past the current economic ripples.

Is education the best investment for your future?

Discussing whether education is worth investing in or not is incontestable regardless of the time period or economic situation. Unquestionably, there will be deviations in the opportunity cost of getting higher education due to the Corona crisis. As per the analysis, the margin can vary by 30 percent, or simplifying it, there can be a 30 percent reduction in average annual packages. But does this 30 percent matter in the long run? This degree will earn you crores in your entire life. So, worrying about the factor of cost is in vain. 

You will definitely bring the house down, so do not invest your mind and soul worrying about the market, future, and EMI’s. The market adjusts itself, it will give you a moratorium. If this is holding you back from going for an MBA during the Corona crisis, then dear MBA aspirants there are ways to handle EMIs. This will not be a stumbling block down the line for sure.

A blessing in disguise

Think this way, if you opt for doing an MBA during the Corona crisis your mind will be tricked and tuned to work more effectively. You will fight harder for the uphill battle of performing better. Consequently, as you will be going through a change your takeaway during that duration will be more. So, it is a win-win situation, do not let these times deter you from opting for an MBA. It cannot be stressed enough, that instead of worrying about the possible future scenario of jobs, focus on going the extra mile in your 1 or 2 years of learning. Things will fall into its own place with time.

Speaking of the baffling question of correspondence or regular course, peculiarly, serving to these unprecedented times it is strongly suggested to go for a regular classroom course. It is a great opportunity to learn, be with peers, interact with leaders and professors, and debate with others. Everything will compensate for that 30 percent loss! By all means, one should go-ahead for an MBA and join a campus.

Analysing the new normal

Everyone cannot agree more with the fact that things will not be the same post-lockdown. Travelling, hugs, parties, spending time in-crowd, everything will decline. The whole ecosystem will become more cautious, automotive, value-conscious, and empathetic, in short - they will move towards adapting a CAVE structure. 

Industries will incline towards automation in order to combat job-cuts and fewer resources. Everything that we once hoped to come faster, will now come faster. The jobs and sectors concerned with healthcare, automation, technology, data science, and other relatable ones will see an upsurge. People will be more careful and will value lives. The value will overpower the potential hope! The conversations will be more value-driven be it personal interactions or investor relationships. Moreover, everyone will be more empathetic about other's health, safety, personal and professional lives, and services.

If you are an MBA aspirant, some other suggestions for your next read are:

• What to Expect from an MBA? | Udita from XIMB Bhubaneswar
• Use Twitter for your career and take networking up a notch
• The trick to plan your finances to pursue an MBA
• The dilemma of regular MBA vs executive MBA
• Pursue an MBA to get ahead in Tech
• Amongst the many specializations in MBA, which should you choose?
• 5 Reasons why MBA is necessary to become successful in business