The value of an MBA degree during the recession and pandemic
Here is what an MBA means in times of a financial crisis and a skewed job market.
The bankruptcy of Lehmann Brothers, a financial services firm, in 2008 is what triggered the financial crisis and ultimately led to the great recession back then. This was when the job market started looking arid with limited opportunities. With the COVID-19 pandemic slowly moving from an unprecedented health crisis and escalating into a deep economic crisis, India and the world are once again staring at a recession and from a limited to scarce availability of job.
While in the current point in time, investing in an MBA degree might not seem to be a logical decision, students who were in B-Schools during the 2008 recession, will tell a different story. They will vouch that now is a good time to strengthen one’s professional skills to withstand the current crisis.
Here is what an MBA means in times of a financial crisis and a skewed job market:
It will help you stand out to employees
Considering the condition of the world finances and the job market, while now may not be the time to land in a dream job or the desired promotion, the value of a business degree lives longer than that. Once the conditions improve and the hiring process starts getting more proactive, the corporates will start being quite specific about the skill sets they are looking for. Hence, this temporary dive in the economy might be the best time for students to update their skills. The student who will graduate from the B-Schools will be more capable and hence, desirable by corporates.
An updated skillset
“Upskilling” is a word that has been thrown around a lot during the lockdown by people but in terms of a business degree, this is the perfect time to upskill. A traditional MBA degree may not be sufficient in equipping students with the skillsets desired by the corporates. Therefore students should look for institutions that offer Employability Enhancement Programs and profile enhancing certifications like NISM – National Institute of Securities Markets, NCFM – NSE Certification in Financial Markets, and AMFI – Association of Mutual Funds in India, Google Ads-Fundamental and Advanced Display Advertising Certifications, CII-UK-Certification in Insurance. Though not many B-Schools in India focus on these Employability Enhancement Programs, St. Kabir Institute of Professional Studies – SKIPS, is a name that comes to the forefront as an institute where skill development is at the core of an MBA program.
Learning how to lead in a crisis
The pandemic has tested everything that the modern world stands for and undeniably, there will be many lessons learnt from this. As a job-seeker, the lesson that students can learn from these difficult times, is how to prepare for and respond to a time of crisis, whether financial or otherwise. One thing that young learners have to keep in mind is that, though traditional job opportunities are limited, more opportunities are arising from the sunrise sectors. Therefore students need to be open towards working with emerging sectors and in flexible work spaces. In a fragile economy, perseverance is an indispensable trait.
As a job-seeker and student in the post-pandemic job market, one thing that a student can be sure of is that an MBA is not a time-bound investment and a business degree will most certainly pay dividends for the rest of your career. However, it is of the utmost importance that students choose the right institution that develops and refines their skills and prepares them for the challenges posed by the post-pandemic world. SKIPS School of Business Ahmedabad is one place where the focus shift towards the post-pandemic world and job market has already begun and where students are armed with more than just a business degree but an attitude for professional career.
Log on to skips.in for more details about the diverse curriculum, the skilled faculty and the course structure.
Disclaimer: This content is distributed by Digpu News Network. No HT journalists is involved in creation of this content.