This is the right time to do an MBA
This is the right time to do an MBA
Students across professional streams are perplexed over their hiring prospects in the current market. Even for professionals looking to pursue an MBA, the big question is: ‘Should I or shouldn’t I?’
Investing time and money in an MBA programme in downturn can be tricky. The general feeling is that it might turn out to be a waste of both if the job market doesn’t improve. However, just the contrary may be true.
Now is the best time to hone your skills. Upgrade your skill sets and make yourself more relevant to the job market. While looking to do an MBA, the intention of the aspirant should mainly be to add to his skills and to get ready to explore other career options.
Adding supplementary skills will facilitate your return to a better salary and job-designation level that you were at before the slump. Remember that the rough times are not permanent and whenever the tide improves, your newly acquired skills will become a trump card for you in the job market. For instance, those who are in sales could pursue an MBA in finance and strategy and thus become employable for bigger roles.
God forbid, if you are a student who got his offer letter recalled due to the slump, you could still go for an MBA. Since it will be difficult to get job-experience before the MBA, one could look at pursuing a part-time job in an industry of choice while pursuing a part-time MBA. There are many good B-schools that offer part-time executive courses and other MBA courses. You can choose the one that suits you the best.
If you are already employed, it may be a good idea to try and convince the employer to sponsor you. If you are a valuable resource and they want to retain you, they will help you develop yourself. This way, you would not have to burn a hole in your pocket to go for that MBA. If not, you can always avail education loans that are readily available and would need to be re-paid only after you have got a job.
While applying for an MBA, widen your selection of schools to include a couple more. Research about the curriculum thoroughly 
and then make your choice. Also, get to network with the alumni of B-schools. Try to find out about the placements of those B-schools. Get information on how many companies visit the B-school during the placement season. Remember the cost of sitting idle is more than the cost of going to an MBA school during a recession.
So, an MBA during the slowdown would only help you be prepared when the market is up, when the hiring is on in full swing. That time, you would be ready better than your peers.
Source: http://besteducationcoaching.blogspot.com
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