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Is 2021 a good year to pursue MBA?

20 Sep 2021
- admin
Master of Business Administration (MBA) involves a significant time and financial investment. Is an MBA, however, still worthwhile in the post-pandemic world?

Due to the worldwide economic slowdown in 2020, it was reasonable for potential MBA graduates to be concerned about their MBA ambitions. However, the economy has eventually improved, and an MBA is and will always be the most cost-effective method for businesses to expand. Even if the pandemic persists for some time, our lives have certainly changed to accommodate it. Employers continue to re-think, re-design, and change their strategies. Employers will be prepared for students who start an MBA in 2022 and finish it by the time they are ready for the corporate world. Students can begin an MBA program in 2022, with the goal of having enough career possibilities by 2023-2024.

After more than a year, much of the business education sector has come to terms with the impact of the ongoing COVID-19 epidemic, and business schools have proved how well they can adjust to offer flexible learning. Also, some of the main reasons to pursue an MBA in 2022 are:

1. Career Opportunities:

An MBA offers a strong basis for a variety of jobs, including executive positions, project management, and market research. While the number of high-level business job openings decreased in 2020 as a result of COVID-19, approximately 90% of businesses said they planned to hire MBA graduates in 2022-2023, which is equal to the percentage before the recession.

2. Increased earnings:

An MBA can help you advance your career and earn higher pay. Despite the fact that the COVID-19 epidemic had a substantial influence on the corporate sector, a survey by the Graduate Management Admission Council indicated that MBA graduates’ basic incomes were still much greater than those without an MBA. Before the pandemic significantly impacted the global economy, MBA median wages are expected to recover to all-time highs of $115,000 in 2022-2024. This translates to a 77 percent increase in wages over people with merely a bachelor’s degree—roughly $3 million more over the course of a lifetime.

3. Emphasis on business management, marketing, and problem-solving:

Economics, communication, accounting, management, statistics, and entrepreneurship are just a few of the areas covered in an MBA degree. Modern MBA programs emphasize business management, marketing, and problem-solving, with case studies being used, making it a vital degree to have in the post-pandemic era.

By Saurabh Kumar
PGPM, Class of 2022