-
Target Test Prep 20% Off Flash Sale is on! Code: FLASH20
Redeem
What Omicron Might Mean for Your MBA Degree Plans
It is hard to believe that nearly two years after publishing our first article on the global pandemic, we are continuing to consider how COVID-19 is affecting the MBA application process.
It is easy to jump to panic mode as news of yet another, potentially vaccine-resistant, variant spreads around the globe. However, Personal MBA Coach would like to share a few thoughts about how this new strain of the all-too-familiar virus might affect the MBA application cycle and your MBA degree plans.
First and foremost, uncertainly is here to stay – at least for the foreseeable future.
While this is the news no one wants to hear, it may be time to accept the fact that COVID-19 might change some of the realities of the MBA experience. Putting your MBA plans on hold until some point “after the pandemic” might no longer be practical. Throughout the pandemic we have sent clients around the world to top schools. They have studied, networked and recruited. We hear positive things from all clients at top schools. Post-MBA employment is very strong and with many remote positions, additional opportunities have emerged that were not possible a few years ago.
The pandemic may not be “over” soon, so Personal MBA Coach advises candidates to consider whether an MBA is right for you in the long run. If the answer is yes AND you already have 3 to 6 years of pre-MBA experience, waiting until things are back to normal may unfortunately be futile. Personal MBA Coach advises 2022-2023 applicants to begin their Early Planning in January/February of 2022. It seems unlikely that we will have any answers as to when the pandemic will end by that time.
The good news is that MBA programs have learned to adapt to this new reality, and while technology has certainly changed the MBA education, it almost every instance this change has been for the better.
While the days of online learning are essentially behind us, the technological investments schools made during the pandemic remain, facilitating connections like never before. Further, some schools are starting to invest in Virtual Reality (VR) and other forms of educational technology. For example, INSEAD has turned to VR as a new learning experience to help students explore different scenarios and business challenges.
Programs also now offer courses that delve into this virtual world. Columbia Business School’s Virtual Reality & Artificial Intelligence class examines how these new technology forms are forever shaping and transforming the media landscape.
Even if you are not worried about the MBA experience, you may be asking: But why should I go to business school now when jobs are easier to find?
The answer to that question is simple – the MBA is a LONG-TERM investment. As information gathered from the Graduate Management Admissions Council’s latest Enrolled Student Survey Report shows, the vast majority of MBA students remain confident that business school is worth the price tag.
Even with the pandemic, MBA graduates are reporting a 77% increase in median salary post-MBA compared to the salary of those with a bachelor’s degree. With the median post-MBA earnings at $115,000, this salary premium could help MBA graduates earn $3 million more than bachelor’s degree holders over the course of 35 years.
Plus, by applying to business school when employment is strong and uncertainty is high, your odds of getting admitted to your top school or earning a coveted scholarship increase. Taking a risk during these tumultuous times definitely can work in your favor.
All of that said, we do expect that some changes to the MBA application process will remain for some time:
1. Interviews continue to be virtual (for the most part).
We do not expect a return to in-person interviews anytime soon for all schools. However, one of our clients interviewed in-person with a school this week, so this is happening in small pockets. As technology becomes more sophisticated and interviewers adjust to the virtual format, they are beginning to see the benefits of virtual interviews in reducing travel time and scheduling complexity. While at some point fully in-person interviews may become a reality, we would not be surprised if virtual interviews continue to account for a sizeable percentage of overall interview volume.
2. Test waivers may be extended another year.
While the jury is still out as to whether GMAT/GRE/EA scores are truly needed to make optimal admissions decisions, Personal MBA Coach would be surprised if those schools with waivers in place rush to remove them for the upcoming cycle. Of course, it is too early to know for sure.
3. Candidates will not be expected to visit campuses.
International travel remains a risk, and we do not expect any admissions directors to fault candidates for not making a trip to their campuses. The good news is that this lowers the barriers to application as candidates no longer need to include travel expenses in your MBA application budget.
All together, these factors ease the MBA application process. So, if you have been considering an MBA, do not let Omicron hold you back!
About Personal MBA Coach:
Founded by a Wharton MBA and MIT Sloan graduate who sits on the Association of International Graduate Admissions Consultants Board of Directors, Personal MBA Coach has been guiding clients for 14 years and is consistently ranked #1 or #2 by leading sources including Poets&Quants.
We help clients with all aspects of the MBA application process including early planning, GMAT/GRE/EA tutoring, application strategy, school selection, essay editing, and mock interviews. Our team includes former M7 admissions directors and former M7 admissions interviewers.
Last year, our clients earned more than $6.5M in scholarships!
Recent Articles
Archive
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009