The world went through one of the worst recessions when the economic breakdown of 2008 ravaged the entire world. Millions of people lost their investments, houses, and pretty much every other asset they had conjured up through years of employment.
A lot of people lost their jobs, while a lot many positions too have scrapped altogether. This begs the question: Is doing an MBA during a recessive period a good idea?
This article aims to find out a comprehensive answer to that question which has two distinct set of answers to it: the good and the bad.
Endless Learning Opportunities
Imagine you’re at the beginning of your distance MBA in HR after completing a distance BBA, and before you know it, the economy nosedives into recession. Market crashes happen. People lose jobs. And despite all of this, the world will try to find new answers to start a new dawn.
Financial analysts from the world over analyse the crash from every possible angle and you’ll be given the courtside seat to witness the biggest debacle in the history of mankind. All the analysis and viewpoints that are presented give you the grotesque perspective of how business works and you get to learn everyday.
Loans Get Cheaper For Your Education
As the market crashes, you will find that your distance learning loans get way cheaper than they actually were. This means that you get to study in a field of your choice without having to scramble around for scholarships to join a premier institute.
As mentioned earlier, recession brings with it a lot of job cuts. Many key positions might be scrapped as companies go into overdrive to salvage what’s left. This means that you are less likely to land that favourite job of yours, unless you are the next big Mark Zuckerberg or Elon Musk that could spur the market on an upward curve.
Lack Of Avenues To Experiment
The market would undergo such a heavy loss that there won’t be any new avenues left for you to experiment on, which again means you’ll have to suffer the brunt of unemployment.
All in all, choosing to do an MBA (traditional or through online education) during a recessionary period is an extremely risky step to take. But if you are a free-spirit that are willing to test the waters, you can certainly give it a go.