Pandemic makes MBA less Attractive for Millennials 

The global pandemic has affected the educational system with challenging hurdles. With numerous students dropping a year, the choice of career pathway has also changed drastically.

Young professionals have been rigorously working in knowing which career sphere would best fit their skills amidst a global change in job profiles, professionals, recruitments and much more.

The MBA courses and b-schools, which were ones considered a world-class pathway with bright future opportunities, have now lost its charm amidst the global pandemic.

Young professionals have been reconsidering their plans of joining any business school or MBA institution in the country and abroad this year.

Millennials uncertain about the scope for MBA

Young professionals have been concerned whether the curriculum is relevant after analysing the prevalent social and economic conditions of industries and its challenges due to the pandemic. Several individuals have come forward to share their experience with the same.

Saloni Mehta is a 24-year-old young professional who would be putting a hold on joining any MBA institution of the country. She speaks of the uncertainty revolving around internships and job offers due to the prevalent situation in the corporate world and the limited employment of new people.

Moreover, she adds that she would be continuing as a digital marketer until the economic sphere gets better.

However, she would be looking forward to applying for an MBA course again next year if the situations get smoothen. Mehta is based in Nagpur and currently works in an e-commerce company as a digital marketer.

Considering the disruption caused by the global pandemic to the firms, companies and other organisations, several students have dropped the idea of joining a B-school till the economic degradation overcome the losses.

Due to the limited hiring policies of several firms and a 360-degree change in their strategies, young professionals have been questioning whether the current curriculum is fit or not.  Moreover, students have also been concerned about whether the institutions are ready to teach with modified approaches or not.

Institutions believe the crisis to be temporary

On the other hand, the leading MBA schools are considering the present economic crisis to impose little or no challenges in the overall course deliverables.

The authorities believe that the classes and executive programmes will be impacted for a short while; however, the economic crisis will be smoothened until 2022. Thus, causing no harm to the current curriculum or activities in any MBA schools.

Moreover, the leading organisations believe that the middle and lower-ranked institutions will suffer massively in terms of their placement activities, recruitments, and internships. This would be major because sectors like travel, sales, etc. have been hit hard amidst the health crisis, says Ranjan Banerjee, Dean, Bhavan’s SPJIMR.

Amidst the havoc creating the global pandemic, several institutions have been embracing the changes in their teaching facilities and curriculum deliverables. Course duration and medium of teaching have been modified to offer a quick solution to the growing concerns of students.

Institutions like Indian School of Business (ISB) has modified its programmes as well. The current students have witnessed the shrinking of total semesters from 5 to 4.

Not only this, but the institution has also adopted virtual mode of conducting classes during the initial stages of the lockdown.

Siddharth Singh is an associate professor of marketing who believes that the steps were taken as a partial solution for the executive MBA courses, thus adopting the same approach for several other programmes.

Students not sure about the future

Hybrid modules have also been in talks for students who would not be able to join them once the situation recovers. Hybrid modules would also be allowing students to reach out to different resources for the betterment of their future and widen their approach to international faculties and mentors.

The virtual model of learning will enable students to open the pathways for more ideas, opportunities and much more. However, as virtual classes are concerned, the authorities have been gaining mixed reactions from the students.

Several students have expressed their concerns about the high fees associated with the online classes and its learning experience.  Aditi Khade, 25, is a resident of Pune who got enrolled in one of the Paris-based business school this year.

However, due to the restrictions on travel and global economic crisis, she has deferred her plans of joining the institution amidst the outbreak of the virus. She states that online classes do not fulfil the deliverables of physical classroom classes.

Contrary to this, professor G Raghuram believes that the fee associated with the virtual classes and learning through an MBA course has a fixed cost majorly. G Raghuram is the director of Indian Institute of Management, Bangalore.

Varun Shrivastava is a 28-year-old young professional looking forward to joining an MBA school in Canada. However, Shrivastava believes that due to the prevalent situation, restrictions have been imposed on networking as well.

Networking plays a major role in developing links in the corporate world. Moreover, interaction with mentors and industry leaders are also a great way of opening further opportunities. However, the students believe that virtual interactions with the mentors or leaders are less effective as compared to physical interaction.

Clear difference between the thought process of students and management

There is another segment of young professional who is in a dilemma of whether an MBA degree would be helpful in a future run or not.

The post- COVID scenario will reflect clearly upon whether an MBA programme holds similar opportunities as before or not. Several students are looking for courses which offer a better practical learning experience in times of consumer behavioural changes and the changed business sphere.

The authorities believe that the value of the foreign MBA programme will remain undisrupted since the curriculum deliverable would remain the same.

Students may lose out on the physical essence of learning or networking possibilities; however, the online classes would ensure that students do not face issues as far as future opportunities and career stability are concerned.

Numerous institutions have been working rigorously in transforming their curriculums as per the current requirements of the corporate world. Thus, polishing the fundament concepts, approaches and other relevant aspects. Innovation must be made amidst the sudden change in the work sphere.

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