MBA - A Good Idea during Recession?


Do you constantly feel that you were made for better things in life? That you are constantly underachieving? Do you wake up every single morning, feeling...? Just knowing that you can do a better job than your boss? If only you were equipped with the right tools, do you think that you can put other high fliers in your company to shame? No... I’m not paraphrasing the opening sequence of the movie - Wanted, before the dorky McAvoy was courted by a bad-ass Angelina Jolie… If you nodded your head in the affirmative for the questions, maybe it’s time you considered an MBA, and thereby moved up the value chain.

There’s never a perfect time to get an MBA, just like tying the knot or getting your butt kicked by the town bully.However there are a few factors that might positively influence your application. Like experience and versatility.

Right now, there might be a few, make that quite a lot, of people who are second guessing their earlier decision to enter the MBA rat race. With the recession not quite bottomed out yet, it’s hard to refute their concerns.

Look on the bright side though. When the business world gets mauled beyond recognition, you are safe within the confines of a school environment. It’s similar to a ringside view with live commentary in a boxingmatch. You watch the rank novice getting bashed up, again and again and yet again. Someone suddenly suggests that the newcomer should have acted in such a way. Someone contends that opinion. People analyze the reasons for the collapse and so on. The learning opportunities are endless.

Many students rely on loans in order to get through b-school. With the current scenario, the interest rates have skydived. Perfect time to pick up a loan. The only issue with this being that, it might be tougher to find some institution willing enough to loan you the amount you need. If you can procure a loan in the country where you plan to do your MBA, it would also negate the effect of exchange rate fluctuations that could occur as a result of the economic upheavals that we are witnessing now.

By the time you’d have graduated, i.e., in a year or two, major restructuring processes would have been underway in a huge majority of companies. This will invariably open up quite a lot of great opportunities for many a smart and agile professional.

But as the saying goes… you can’t punch someone, without expecting a punch back in return. There’s the big risk of leaving a good job, to pursue your management dreams. What if, the economy doesn’t recover in time (within a few years?) Will I have lost the one bird that I had in my hand?

Another doubt could be - how effective are these MBA degrees anyway? Aren’t these the same guys who brought about the unholy CDS troubles and the sub-prime crisis? Why would someone want to imbibe the same culture that brought about a global economic catastrophe?

There, you have it . Two sides of a coin.

To reassure you- it’s true that the harbingers of the crisis were top notch grads from esteemed b-schools. A crate of bad apples in a shipment could mean that the environment or the weather could’ve been bad- not necessarily that the apple orchard was non-conducive to nurturing. From what I’ve heard and have witnessed, a lot of B-schools are reorganizing their curriculum, changing the almost total emphasis on competition and wealth generation that has been pervasive till now. A B-school that changes with the times will in turn produce individuals who are much more connected to the society they live in. This surely cannot augur bad for the world community at large!

It seems to me that right now might be one of the best times to go ahead and earn some valuable business education. It’s a risk, of course. But then again, who has achieved anything by just walking on one side of the road? When the time comes to cross, cross you must, lest you get left behind.

Author : 

  Vineeth George Abraham is an International MBA student from MIP, Politecnico di
  Milano, School of Management 2008/09. He cracked the GMAT with a 740 and
  received a
scholarship from MIP.

2019 MBA Research Guide - Choose your MBA

"I attended three MBA Tours in US and Canada. I could just scratch the surface compared to what the guide has included. Thank you guys for the amazing book"

F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach. 

Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?

We cover them all through our extensive analysis. 

Pages: 500

+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method 
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour

Comprehensive MBA Research Guide:
Top MBA Programs by 19 Specializations:
+ General Management
+ Finance
+ Consulting
+ Marketing
+ Strategy
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Accounting
+ Energy
+ Non-Profit
+ Wine
+ Sports
+ Sustainability
+ Leadership Development
+ Military &
+ International

+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)    
Top 31 MBA Programs in United States – Total Cost & Salary (2017)    

Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary    
Top 20 European MBA Programs (Based on Actual Salary Increase)    
Top 20 European MBA Programs (Short-term return on investment)    
Top 20 Affordable European MBA Programs    
Top 10 MBA in UK – Salary & Fee (2018)  
Top MBA Destinations Based on Happiness Index    
Top MBA Destinations based on Innovation Index    
Top 10 MBA Job Markets based on Cost of living and Purchasing Power    
Top MBA Destination: By Economy    

+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)  
MIT vs. Stanford MBA   (2017)
Haas vs. Ross MBA    
Kellogg vs Ross MBA    
Booth vs Wharton MBA    
MIT Sloan vs Tuck MBA    
IIMA vs. ISB   

Harvard vs. Stanford MBA (2017)

+ MBA in France (2018)
Top Industries in France   
Top MBA Programs in France  

  Class Profile   
  Post-MBA Salary

Scholarships in France
External Funding 

+ MBA in the UK (2018)
Top Industries in the UK   
Top MBA Programs in the UK

  Class Profile   
  Post-MBA Salary

Scholarships in the UK
External Funding 

New Visa Rules: Post-Brexit

Download F1GMAT's MBA Research Guide (2019)

Navigate F1GMAT

F1GMAT Services (MBA Applicants) 

F1GMAT's Books

MBA Salary(Latest Salary Data)
MBA Admission Interview Tips



MBA Application Essays

MBA Recommendation Letter

GMAT Tutorials

GMAT Question Bank

Top MBA Programs

Get F1GMAT's Newsletters (Best in the Industry)
Included in the Newsletter:

  • Ranking Analysis
  • Post-MBA Salary Trends
  • Post-MBA Job Function & Industry Analysis
  • Post-MBA City Review
  • MBA Application Essay Tips
  • School Specific Essay Tips
  • GMAT Preparation Tips
  • MBA Admission Interview Tips
  • School Specific Interview Tips
  • Funding Guidance and
  • Special Consultation Service (only for Subscribers)

Subscribe to F1GMAT's Newsletter