COVID-19 Pandemic has changed the whole definition of normal for all the people round the globe. Social distancing, wearing masks, healthy lifestyle and many more things are the new normal. Covid-19 has brought down all the big economies to a record fall and it will not be easy for the big economies to cover this hault. Now, impact on the economies has led to decrease in jobs, paycuts and some companies have even laid off thousands of employees and this has left many candidates wondering that what is the right way to move on.
Now, it has left many candidates question whether it is worth it?The answer to this question is quite difficult to evaluate but what we can observe now a days is at the time of job cuts, MBA personnels are also experiencing a lot of problems in the corporate world. But what needs to be considered is that impact of COVID-19 on MBA jobs and after MBA scope is much less as compared to other fields. Because if a candidate is passed out from a reputed top B-school, so the chances of getting a placement after that is quite high as all the company’s are now looking closely for the best profiles rather than better profiles. They are now more focusing on the quality. So the candidates who give GMAT also has a better chance of getting into business schools as it helps the universities to check certain abilities of the candidate which is tested by the GMAT exam. Now students can give GMAT sitting at home by booking an appointment on GMAC official site till 17th July.
The Graduate Management Admission Council (GMAC) has surveyed more than 1,000 business school candidates, documenting their concerns about how COVID-19 could affect their education and career prospects. According to the survey, 35% of candidates are ‘very concerned’ or ‘extremely concerned’ about the impact of coronavirus on their pursuit of a business school degree. Worries have also emerged over how coronavirus will affect the job market when these candidates graduate. Since the IMF projected a 3% drop in the global economy in 2020—a worse slowdown than the financial crash of 2008—future employment prospects could be affected. Additionally, the coronavirus situation is prompting many to defer their business school applications. According to the GMAC survey, 44% of candidates are considering this alternative. According to GMAC’s survey, 50% of prospective business school students say that the post-coronavirus job market is a specific area of concern for them. MBA candidates seem to be more concerned about job prospects than their business master’s counterparts.
In this economic crisis, it becomes more important for every MBA candidate to be best in their particular fields because competition will be drastically increased and those with a good business school profile and having expertise in their particular field will not face more difficulty in evaluating and growing in the corporate world.