The pandemic is taking a toll on the well thought out plans of many; the higher studies student community being the most affected of all. Students are perplexed with dilemmas like -
Should I drop this academic year as campus presence is affected?
Should I continue in my job which is adversely affected or quit and start MBA?
The sector I was planning on joining is badly hit by corona; should I evaluate other growing sectors like Built Environment to make a career in?
If you are also in such a dilemma, understand that no one can take a decision on your behalf. All decisions about your studies and your career affect you. Therefore, you must base your final decisions a thorough research into the situation, predictions about the future and the options available to you.
Although educational institutions have been closed for the past many months due to the pandemic, the closure is temporary in nature and it should not be the reason for a break in education, career, and success. Rather, students would do well to utilise this time judiciously and productively and engage in activities and enroll in programs that will aid in building their future.
Though predictions are difficult in the current times, India is likely to overcome Covid-19 impacts quicker due to its self-reliance and is expected to emerge from this impending economic crisis in a much stronger position than before.
A progressing economy will need eligible and trained workforce
According to IMF report, the World Economic Update in June 2020, the economy will prosper in the coming years and V shaped recovery of economy would be seen very soon. Even the world economic outlook has predicted the bounce back in economy by 8.1% in 2021.
So, this is the best time for students to opt for further studies as once the markets get growing there will be a general great demand for eligible candidates by 2022-2023.
Those opting for an MBA now, for example, would have acquired the desired competence by then and will be graduating at a time offering much better future prospects.
Our quarterly estimates show that real GDP would contract by 4.4% in FY 21. Several high-frequency economic indicators are displaying sequential improvement which has likely set in a sense of triumph among market participants. What we are currently witnessing appears to be a tug of war between improving economic data and still escalating virus situation. Therefore, having appropriate educational skill sets can protect you against the economic chill winds and you can prove to be a primary driver of progress.
Why pursue higher studies?
The economic opportunities right now are not optimum for those desiring to start a professional career. On the other hand, with not many activities to distract our attention, this virus-hit, home-bound times are the best to pay attention to a course and complete a degree with flying colors.
Sectors like real estate and built environment are likely to emerge from this economic turmoil faster than other sectors. Organisations setting up workplaces in India will bring huge demand for office space and other auxiliary needs like housing, malls etc. For young graduates, civil engineers and architects, this is the right time to up-skill themselves by pursuing post-graduate courses like an MBA in real estate and urban infrastructure, Construction Economics and quantity surveying, construction project management or facilities management from institutes that offer international accredited programmes in these areas.
Choose a programme which caters to the needs of a rising industry
One must choose an industry-led academic institution which delivers specialized undergraduate and postgraduate programs to students ambitious to work in their concerned sector and prefer those institutes which offer international accreditation.
Make this year count!
Inputs from Prof Amol Shimpi, Associate Dean and Director, School of Real Estate RICS School of Built Environment, Amity University Mumbai.
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