2020 has no doubt been a merciless year imposing a mountain of unusual situations at individuals. The unprecedented year has had an impact on every industry causing massive economic downturn. The aftermath of Covid-19 could also be seen in the education sector. While schools could cope up with the digital medium shift, colleges and exclusive courses that depend on practical implementation found it hard. Since everything shifted to digital platforms students began to either defer their applications or drop out of the program. A hopeful attempt of onsite education and face-to-face learning in 2021 led to monumental deferral of applications. The case for the ‘most competitive admissions year ever’ is a result of extraordinary occurrences meeting at one point. MBA applications to business schools typically go up when the economy turns down. 2020-2021 can see the largest application turnover in history.
Reasons for 2021 being the most competitive admissions year ever.
Considering the speed at which the pandemic set in and the sudden economic and business slump, there is quite a possibility that this year many business schools will receive record-breaking applications. Admission consultants reported an enormous increase in interest as well as booking by applicants in round one application at the most prestigious B-schools around the word. Indeed a plethora of schools have seen a surge in the number of applications lately.
The websites that provide updated news of business schools experienced and reported a shoot up in visits. This is yet another sign of increased demand and interest in MBA program.
Recessions have always worked in the favour of business schools. In the spirit of being more qualified and experienced in the candidate crowd, demand for graduate business educations rose.
Additionally, the applications have skyrocketed due to many students putting off their application to the future. The ability to postpone their enrolment into college is a major contributing factor. Lockdown norms, travel restrictions, difficulty in acquiring student visa and studying a hands-on course like MBA online has led to a multitude of deferred applicants.
Business enthusiasts view MBA as a safe career prospect. They visualize that graduating business school 2 years from now will mean entering a much powerful job market than the current scenario.
There are a bunch of smart people who did not think it right to apply in the past years but now will. It would not be surprising if applicants filled forms out of boredom.
One more reason for soaring demand is that many employees have been thinking of pursuing MBA as their postgraduate qualification. But they have also been putting off this thought due to strong and beneficial business job market. Their return to education postponed ever since will now be executed in real.
Impact of Work from Home.
Well aware of the new normal being work from home (WFH), celebrated companies such as Google and Flipkart have announced permanent WFH until 2022. It may seem like a stepping stone for those already employed, but is challenging to the candidates in the market. The same provision allows employers to hire from anywhere across the globe eliminating all geographical boundaries. Furthermore this adds competition to an already existing and increasing pool of participants.
Role of Lincoln University of Business and Management.
To best prepare and make their students ready for any hurdle, Lincoln University of Business and Management offers world-class learning. Well-equipped practical and observational learning through their MBA programs is mind-blowing. LUBM teaches a coursework that is up-to-date and always matching the contemporary business market needs. Through extensive MBA curriculum students learn key subjects and crucial soft skills for better chances at employment.