Why is 2020 the best time to do an MBA?

At a time when the job market depresses and the economy is in crisis, it is the education sector that flourishes. A holistic degree like MBA turns out to be the best use of the time to acquire new skills and be market-ready for a bright future ahead. As industry experts proclaim that we are ahead of the worst, let’s discuss why an MBA makes sense now!

Why consider doing an MBA now?

Should securing an MBA seat just be an escape hatch from your current mess, there is definitely more to it. To begin with, if you are a final year graduate or a fresh graduate struggling to find a good job, an MBA brings you a chance to go back to the job market with greater value. A decent career start then increases your wealth manifold through compounding effects on pay packages each year. For those in the job market, the MBA provides a golden chance to make a career switch.

The pandemic has shown how important it is to be agile and MBA is a one-stop-shop to form a solid base of all the essential skills to deal with a crisis situation. Pursuing an MBA from a top B-School puts you in the club of elites. You get premium access to a number of resources. Even though the realities might differ in a few instances, you do bring along a lot of credentials if and when you graduate from a premier B-School. You witness a major change in your world-view. Apart from this, you become reliable in the eyes of the world for taking the right decisions. An MBA degree makes you trustworthy and customers would like to rely on your product. Even investors would be more open to hearing you out.

Abhishek Kothari, IT, ISB, Co-Founder FlexiLoans in an interview with D2C shares that “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.” says Abhishek Kothari, IT, ISB, Co-Founder FlexiLoans in an interview with D2C..

Our two cents on B-School selection

The decision to go for an MBA opens a multitude of options to choose from. B-School selection usually a determinant of the country you wish to grow your career in, MBA options which colleges provide, and of course the placement statistics. The best way to find out more about how much B-School matches your aspiration, the idea is to look through news articles and have conversations with alumni. Do remember that the MBA college will be on your resume for your life. Cost, duration, education loan, post-MBA placements, and the opportunity cost of time away from family are other factors one might want to look at. 

You might want to reconsider if:

Doing an MBA just for the sake of having it on your resume might not be the best option. You might want to think through the decision in case:

• You are short on finances. MBA is a cost-intensive degree as compared to other masters courses and might not be a great option if your pocket is empty and getting a loan is not an option.
• You are content in your current job role and profile. MBA provides a great chance to make a career switch. If that’s not something you are looking for, why not stick around?
• You are adept. A highly skillful person might not want to do an MBA for the sake of learning business.
• You are not a people person. An MBA might be a misfit for people who hate socialising as the structure of the course is designed to do that.

Doing or not doing an MBA is of course your final call to take. However, given the pandemic levelling up skills to be industry ready is definitely the best use of the time and an MBA is just a perfect degree to learn it all.

With the MBA entrance exams coming soon, we wish all the aspirants the best for their preparation. Look out at this space for more tips on acing MBA exams, upcoming deadlines and topper stories!