Covid-19 and MBA cycle for Fall 2021

Covid-19 or novel coronavirus has affected industries across without any distinction. The pandemic has reaped a havoc which for most of us is unseen and unparalleled. Even our education system is overwhelmed with so many restrictions caused by the pandemic. As the education industry is hampering to shift online, academic calendars are going for a toss and physical classes look distant as of now. MBA admissions too have suffered because of the virus as the entire chain has been disrupted. In this article we specifically cover how the pandemic is shaping the MBA choices for Fall 2021 classes and why it might be the best time to start early.

For all the students who we helped for class of Fall 2020 admission, most of the university are still in flux of whether to start course on time albeit in a virtual classroom setting and in case of international students be generous with deferrals if students persist for on campus teaching. For instance, London Business School has indicated clearly of their intention to start classes online with compulsory 2 weeks’ virtual introduction but on time as per academic calendar. The problem for international students would be to secure visa on time as a lot of countries are still under lockdown with severe restrictions on air travel. Some of the other US universities are allowing students to defer their admission by a year or two but any sort of financial scholarship which they secured would be under review, leaving a huge risk on students. In general, all the admitted students who are scheduled to start classes in Fall 2020 share a common view that universities are reluctant to defer admissions and want students to start classes online and as and when situation permits relocate to respective campuses.

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Given the state of economy it won’t be too bad an option to start virtual class than to continue in a macro environment which is far from stable. As of May, 21st 39M Americans lost their jobs in 9 weeks of pandemic with official unemployment rate at 14.7% almost at levels of Great Depression of 1930s. The scenes across the world are on similar lines. Even in Indian context we see startups firing people on a daily basis with some of the industry stalwarts like OYO, OLA, Zomato, Uber, PayTm and CureFit laying off staff in huge numbers. Conventional wisdom speaks about using a crisis to muscle up on skills and the timing could be no better than now.

In terms of admission cycle also there would be marked change from previous years. Some schools even till now are accepting applications for their Fall 2020 cohort. While it has not been a secret that for last few years, number of applicants seeking admission in MBA programs have decreased Y-o-Y owing to a growing economy post 2008 debacle and hostile immigration policies, the numbers should see a rebound due to worsening economic conditions across the world. As more working professionals choose to attend school the applicant pool would definitely widen. Also with increased base of deferral candidates forming the Fall 2021 cohort the competition would definitely intensify for fresh applicants.

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While the admission cycle for 2021 would remain uncertain, we at Careercarta have put together points which could help applicants during these difficult times:

 

• GMAT score: While GMAT exam centers are still beginning to come back to normal one of the most important thing is to take the exam at the earliest available date. With all the time saved due to lesser commute time, it could well be spent on boosting your score past 700.

• Profile building: Given the uncertainty of GMAT exam expect some relaxation in terms of its requirement in next admission cycle. This would have a direct bearing on overall profile as it would become increasingly important. So now would be the most opportune time to take that extra course you always wanted to or volunteer to organization you always dreamt about.

• Target school: It would be worthwhile to start shortlisting target schools and identifying their requirements. While we normally suggest students to apply to 5-6 schools every year, for this admission cycle we would highly recommend to apply in 8-10 schools given the higher competition in also high probability of lower seat count.

• Reaching out: It is never too early to reach out to schools for information. While there is a probability that schools might not have all the information currently it always helps to reach out to alumni, current students and attend webinars or other virtual session to keep abreast of the recent changes. 

 

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While times are uncertain, flexibility of plans and thorough preparation can definitely help realize dreams in these times of crisis. Business Schools saw an upsurge in demand after 2008 Financial crisis and if history is any indicator to go by, we see similar trend in this crisis as well. A well thought out strategy could help not only circumvent the crisis but also come out on top of it. In case of any additional queries contact us here.