Impact of Covid-19 on MBA students

The CoViD 19 pandemic has stood as an obstacle in the way of most of the industries and their businesses. There is a state of global uncertainty that is prevailing. According to the IMF’s (International Monetary Fund) prediction, the global economy might contract by up to 3% which is not only worse than the 2008 financial crisis, but also the worst economic recession after the Great Depression of the 1930s. And these factors, without a doubt, are going to hugely affect the career plans of the MBA students as well as the global business schools.

The present batch, which is the 2020 batch, might be the worst affected batch, with the economy slowing down and companies trying to cut down their costs. Business schools worldwide are also facing a tough year. Campus placements are also being delayed. This leads to difficulty in finding satisfactory job offers for students. Choices available to students have also been compromised.

However, there are also students who have already been placed. With some companies backing off with the offers they have made to students, there are still a number of companies that stick to the commitments they have made.

The future batches like the 2021 batch and 2022 batch and further should not be worried much. The economy is expected to be going through a recovery stage by 2021 which means that the 2021 batch would be at a much better state with companies reopening and resuming work, but of course, with a few compromises. However, we still don’t know what might be the scenario with colleges. Colleges are gradually reopening. And even if lock down extends, it would be the online mode of education at the rescue.

The 2022 batch and the further batches are the least at risk. By 2022 the economy would have come out of the clutches of CoViD already and with normalcy restored. Both, job opportunities and college scenario, are expected to be back to normal conditions.

But again, nothing is certain. It all depends on how the current situation is being handled.