Eight of 10 MBA students at the University of Pennsylvania’s Wharton School, said that they are not thrilled about the coming fall semester because the deadly pandemic has forced learning online.
With that adds, all of the anxiety, fear, and frustration. Many graduates from the most prominent business schools, including Harvard and Stanford universities, thought of their internships and job offers were scratched back by companies because of the COVID recession. Many more are highly scared about their prospects for getting a job over the next year as still many companies have fixed budgets and hiring plans.
What’s next?
It’s a matter of doubt that opting for an MBA program will turn out to be a smart decision later or not? Well, you must believe it will be, and we’ll tell you why.
The Class of 2023 will certainly graduate into a completely recovered economy, better composed to take full benefit of the upturn.
A recession or a health crisis, no matter how serious, will certainly not last forever. But till it lasts, most of you will find your chances to advance at work diminished or fully curtailed.
Many of them have already found themselves unemployed. With the time this year’s recent MBA individuals graduate in 2023, it is almost a thought that both COVID-19 along the economic downturn will possibly be in the rearview mirror. The Class of 2023 will certainly graduate into a completely recovered economy, better prepared to take all the benefits of the upturn. They will be soaked in both, data analytics, and particularly they will know how to smartly tackle huge datasets for decision making also, they will also master to hold new technologies like artificial intelligence and machine learning, to take crucial efficiencies in a business moving ahead.
Of all the other graduate degrees you could take, an MBA from the best business school is quite a no-brainer investment.
The Views
- “If you remained at work in 2021, your career choices and earning potential in 2023 would be more controlled if you had gone to business university,” said Soojin Kwon, managing director of MBA admissions and program at the University of Michigan’s Ross School of Business. Why? Kwon states that students will have three advantages by going back to the university that they won’t attain by remaining in a job during the pandemic.
“First, you’ll meet and learn from many of the smart, ambitious and knowledgeable people you must not have met if you didn’t reach the business university.”
“Second, you’ll be learning how to connect and interview for jobs in any industry or sector that you likely want to go into. So you’re going to know how to interview in the way in which recruiters will be going to recruit.
On further adding, she said, “You’re going to have access to a web of tens of thousands of business university alumni and also hundreds of thousands of alumni in the wide university section. You could definitely find a different job through LinkedIn, but there’s no secret to the fact that you’ll possibly get a response if you have some sort of connection, and an MBA from a top university with the help of alumni gives that irreplaceable connection for life.”
While the Great Recession of 2008-2009 was going on, the job condition was just as poor and chances for many MBAs appeared so dark that some directly questioned their choice to borrow money to get the degree.
- The dean of the University of Virginia’s Darden School of Business, Robert Bruner, found himself starting to safeguard the value of the MBA. He woke up to the challenge, and his terms then made very much sense now. [2]
Education adds eminent value to human potential. “Basically, research says that they found real rates of return on investment going upwards of 10% and as high as 50%. And there is a connection between years in college and earning capacity, but that’s only the quantitative part. Each year, students graduate who are more self-assured, good communicators, and more encouraging leaders than when they took the admission. And they have united in an alumni network that has supported in good times and bad.”
- Undoubtedly, long-term thinking strikes short-term thinking most of the time. Growing professionals have a great career ahead of them. “With the advantages of modern medicine, you can certainly look forward to a career growth of 50 years,” Bruner wrote.
“Are you determining the significance of an MBA by only the first job you get out of Business school? You need to take the long view. If you could deduct the marginal advantages of an MBA from a competitive university over the next 50 years, I’d think that they will well exceed the costs. You’re not supposed to discount the future too sharply.”
Conclusion:
The truth is that you can gamble with certainty that hard times will appear until this pandemic is under control and the economy retrieves. The power to assess and take sensible risks is the core of entrepreneurship and business. Taking a graduate degree in business to attain valuable skills, grow one’s leadership potential, and have a helping network of associated professionals is a risk worth taking.
Therefore, the Class of 2023 will certainly graduate into a completely recovered economy, better prepared to take all the benefit of the upturn.
Citation/References:
- https://www.clearadmit.com/2020/07/admissions-director-qa-michigan-ross/
- https://poetsandquants.com/2011/01/25/3414/
