What 2021 Brings To The MBA   

2020 may be over, but its impact on the world has created a number of new normal from an explosion in online MBA’s to a shift in hiring practices. 2021 is expected to be one of the most competitive applications years for MBA candidates.

Dr. Ravi Kumar Jain, Director & Professor at the Symbiosis Institute of Business Management Hyderabad Campus, recently outlined a few things that 2021 will bring for MBA candidates in an article for India Today.

VIRTUAL NEW NORMAL

With Work From Home (WFH) being the new normal, companies are shifting not only how current employees work but how they search and source new hires as well.

“Since geographical boundaries have been eliminated with WFH being the new normal, it has also provided employers the ability to hire from all across the globe,” Jain writes. “This adds further competition to an already increasing pool of candidates.”

While the new virtual reality brings certain benefits, Jain cautions against the automation of hiring.

“In some cases, companies have altogether shifted to entirely automating their processes, which constitutes another obstacle for graduates/candidates,” he writes. “In those situations where complete automation is not possible, it becomes difficult for the company to fill limited job positions from a stockpile of qualified candidates and adds more fuel to the fire.”

AN MBA APPLICANT SURGE

2021 is projected to be a fiercely competitive year for MBA applicants, in large part due to the increase in applicants and COVID economic downturn.

“The pool for MBA aspirants now also includes those who were laid off and believe that a Masters qualification will not only give them the required skills to secure jobs but also propel them into a market two years later with more job openings,” Jain writes.

Deferred applications will also contribute to the increased applications this year.

“Deferred applicants along with those who refused offers of hybrid classes to attend regular, in-person classes add to what seems like an ever-growing list of MBA aspirants,” Jain writes. “What may seem like a mountain of factors against MBA aspirants for 2021, are essentially stepping-stones for those who want to achieve the best for themselves.”

Sources: India Today, P&Q, Forbes, P&Q