A month into lockdown, and it's clear that the COVID-19 pandemic is not one to be taken lightly. While there is an immediate health and safety concern, there are a ton of repercussions that are soon to be felt by everyone around the world. Right now, you might be worried about placements and summer internships, but an event such as the coronavirus crisis has long lasting effects. So, let's take a look at some of the predictions that experts have made based on the current situation.
An immediate effect you're probably witnessing is on your summer internships and final placements. This is the season where you experience the corporate world first hand. Instead, you're probably still wondering what the status of your internship is, or you're already doing your internship, but from the confines of your homes. Internships aren't the only things that are going virtual. Already, many b schools have shifted their classes to online platforms to continue functioning. Many institutes are offering MOOCs, and the numbers are projected to rise in the coming months. However, if this continues, then students might demand lowered fees since they won't be able to avail of the many facilities that a b school campus offers. What's more? No face-to-face classes will mean that students will miss out on relationship building and networking opportunities that come with co-curricular activities and classroom environments.
A very negative effect will be on jobs. While placements are already being affected, people with existing jobs aren't safe from the on-coming economic slumps. Layoffs and pay cuts are a real possibility. The financial crash of 2009 taught us that in such times, people resort to upskilling themselves, which hints at a rise in MBA applications in the coming years. If b schools do succumb to students' demands and lower fees, there's nothing that can stop applications from flooding in.
Lastly, there are the STEM certified MBA courses. With b schools abroad seeing a drop in MBA applications from international students, they have already begun introducing STEM certified MBAs to attract more international students.
So that's it from us. Our 5 Predictions:
00:39 Online Courses and Classes
01:35 Affordable MBAs
02:22 A Spike In MBA Applications
03:30 Employment Challenges
04:14 More STEM MBA Courses
Do you think we missed anything? Do you have any predictions to make? Tell us in the comments section below!
Here's What We Recommend You Take A Look At Next