March 8, 2021
Reading Time: 5 minutes
There are two clear paths (below) that have emerged in light of COVID-19 for those planning to pursue their MBA for Fall 2020. Whatever path you choose, remember there are definitely advantages to entering an MBA program in 2020. Historically, recessions have seen an increase in higher education enrollment. This is largely due to students wanting to be prepared to re-enter the workforce as the economy opens back up again following a financial crisis such as the COVID-19 one (you can find out more about how to get ahead of the job market with an MBA from our recent blog post).
The obvious factors here are cost and quality. Many students choose to study in a classroom rather than online to reap the benefits of engaging with diverse and accomplished colleagues, joining student clubs, building networks, and experiencing the campus environment of their chosen university. Applying to a brick and mortar program right now leaves you at risk of missing out on these benefits for at least part of the degree, as virus concerns are still running rampant and many programs have yet to decide whether or not they will extend their online curriculum into the next school year. However, it is important to note that many top universities like Harvard and NYU are currently facing petitions from their students asking for decreased tuition rates – and have yet to come to a decision on whether or not they will be offering their online classes for a decreased rate. Be sure you are keeping up to date with news surrounding this decision for your institutions of interest, as it could end up working in your favor financially.
Deferring for a year will give you some much-needed clarity and certainty. Since virtually all campuses are closed indefinitely, there is no way to truly know where you will be at the start of the next school year. Taking a gap year before tackling your MBA might be best if you need the time to solidify aspects of your personal life – money, family, health, career, etc. It can also give you more time to perfect your application.
For those applying for Fall 2021, there is less worry that the pandemic will be disruptive to their academic careers. However, you never know what may happen and it may be worth looking into online MBA degrees. Pursuing your MBA online entirely is better for students’ pockets, as online degrees tend to be far less expensive. Furthermore, an online MBA offers more flexibility, which is desirable for some during these uncertain times.
At the end of the day, whichever path you take is up to you – do some soul searching and discover which option best meets your personal goals and needs. If you need some guidance on this matter, contact firstname.lastname@example.org for help.
Communications Director – Write Track Admissions