The decision to pursue an MBA is a significant one at any time. During the uncertainty of the COVID-19 pandemic, however, questions about whether or not an MBA makes sense may be heightened. According to many experts, it is exactly this uncertainty that makes now a uniquely opportune time to get an MBA degree. Here’s a closer look at the many reasons to consider enrolling in an MBA program during the coronavirus era.
Applicable -- and lasting -- lessons The COVID-19 pandemic has impacted the world in profound and lasting ways. While the specifics of the pandemic may be unprecedented, it is not the first, nor will it be the last, crisis to severely affect the world’s financial and economic wellness. According to insiders, a business school education may hold the key not just to navigating the challenges of COVID-19, but also to those that follow. The common theme? Disruption.
The coronavirus is just one example of the many ways the world is always changing. In order to survive, businesses need to quickly and effectively respond to these changes. The ability to do so relies on understanding disruption. And while COVID may be the disruption of the moment, thinking about disruption in a broader context can equip the next generation of business leaders with the knowledge and skills to navigate whatever comes next -- be it another pandemic or something else entirely.
Managing Director of The MBA asserts, “There is no doubt in my mind that an MBA is still worth investing in. An uncertain future will amplify the need for business leaders with strong management skills, the ability to build a vision and inspire and lead teams through challenging times. These are all skills that MBA students learn and practice. This is confirmed by what the candidates are telling us. A recent mba.com Prospective Students Survey found that prospective business school students remain determined to pursue a graduate management education degree. Only 5% among almost 500 respondents said they would no longer pursue a graduate business education due to the impact of COVID-19.”
While there have clearly been downsides for higher education due to COVID-19, it has led to incredible access and connection for students and prospective students all over the world. “It’s easy to feel shortchanged,” she says. “Yet I can’t help but think of the incredible access that this has created, expanding the ability of students to attend classes from virtually anywhere. And so many schools have made significant leaps in adjusting to online education and delivering a truly great experience. Call me an incurable optimist but I see this as a gain – for students and schools alike.”
New business models mean new value Of course, not all business degrees are created equal in terms of the value they offer. And with the value an increasingly important factor for many prospective business school students, business schools are responding with new models aimed at helping them deliver more value.
A Financial Times piece recently indicated that while tuition fees may not go down, business schools are endeavouring to become more appealing with measures aimed at increasing agility and flexibility. These include everything from enhanced career support services to subscription-based payment models. Business school dean Dough Shackelford says, “I still think the MBA offers an incredible return because you typically recoup the cost of your studies in four years. But why not pay those fees over an extended period in the same way that you would by the house.”
So whether worries about the job market or resistance to the upfront price tag of business school are giving you pause for thought, know that business schools are not only aware of these concerns, but taking steps to mitigate them.
Mantissa College’s MBA program boasts a dynamic global network of more than 80,000 alumni. One recent alumnus, Harrison Jub, says, “I took the 15-month Master of Business Administration course and in the first week, I was discussing the Real Case Study with groups of working professionals from different fields. And so I was learning from real people with real problems. Thanks to the case study based learning approach I am now capable of taking up more projects because I had been exposed to a wider perspective on handling matters from my learning experience.”
Certainly, evidence attests to the tremendous value of case studies in business education. Between its focus on this learning style and many other desirable attributes, Mantissa College’s Master of Business Administration offers an invaluable inside edge for aspiring business leaders.