MBA programs have some of the best ROI of all the courses. As businesses are booming and economies are expanding, the demand for MBA professionals is rising. MBA can rightly be ranked among the top professional course choices for students.
Labor shortages during the pandemic and the great resignation followed by an increase in hiring from tech giants have set new trends for MBA in 2022. Companies are now looking for multi-talented individuals with diverse skill sets who can handle the uncertainties of the present time. This piece will explore the top MBA trends in the year 2022.
Top trends for 2022-
- Women’s participation in MBA is rising.
As per research by the Forte Foundation, the participation of women in MBA programs has risen from 31.8% in 2011 to 41.8% in 2018. As per the set trends, 50% of the students joining or graduating with an MBA are women. An increase in female participation can be attributed to MBAs becoming more flexible, better education loan facilities and women feeling more confident to pursue higher education in their careers.
- MBA salaries are rising high.
As companies, especially tech firms, are working hard to attract and retain talent, the pay packages for MBA professionals are skyrocketing. Labor shortages have hit the companies hard; as per the recent trend, freshers are offered up to 40% higher pay packages than what the companies earlier used to offer.
Fortunately, this trend will continue to rise in 2022, and graduates will get lucrative placement offers. Earlier top consulting firms like BCG, McKinsey & Co, Deloitte, Bain & Co, etc., used to offer the most lucrative pay packages, but now tech firms like Samsung, Xiaomi, etc., are also taking the lead in offering handsome packages.
- The fourth Industrial revolution will dominate the trend.
The fourth industrial revolution is around the corner. Technologies like- AI, IoT, ML, Blockchain, AR, VR, Data analytics, etc., are now the key drivers of business decision-making. These technologies are used by businesses to gather insights, project data, conduct market research, etc.
As per an article by HBR, Artificial intelligence and Machine Learning will automate business decision-making. Students who are looking to join MBA should definitely develop hands-on skills and expertise in AI-driven business tools and analytics. Data analytics is another critical driving area. Students looking to upskill in 2022 should learn data analytics tools like Tableau, Power BI, etc., to improve their skill set.
- Part-time MBA, Executive MBA and Online MBA are on the rise.
Students are now more interested in part-time, online or executive MBA programs. These programs are of shorter duration and offer good value to the students. Flexibility is now one of the key parameters that students consider while making their learning decisions. Many good colleges like IIMs, UBS, MDI, etc., offer good executive MBA programs for working professionals.
Executive MBA is designed for professionals who are quite ahead in their careers and want to upskill to improve their skills and services. Whereas part-time MBA is designed for professionals who want to attend their classes on weekends or evenings to balance their career and learning goals. In 2022 as employees are looking for more flexible courses, these programs will grow more popular.
- MBA coaching and preparation courses are booming.
The competition for MBA entrance exams like CAT, XAT, GMAT, etc., is rising. This is driving up for MBA coaching and preparation programs. In 2022 students who are looking to join a full-time MBA program and want to join coaching to crack the entrance exams may have to spend a little extra to realise their MBA dream.
The rise in cost can also be attributed to higher business expenses for coaching. Coachings are spending a lot on developing quality content for their students, developing web applications for practice, etc.
- Alternative MBA programs are becoming popular.
Students are now also joining alternative MBA and certification programs to learn skills and increase their knowledge. Some of the famous alternate MBA programs are- certification in Business Analytics program, Data Analytics program, MS in Data Science, MS in Business Analytics, a fellow program in management, etc. In 2022, these programs are set to become a more popular choice for students.
These programs are low in cost and offer good value and skills to students. Business analytics is among the top choice for students looking for an alternative to MBA. Various management colleges like IIMs, UBS, NMIMS, etc., offer many good alternative programs apart from the regular MBA courses. Students who want to quickly upskill at a lower cost can consider these programs.
- More students are now going for International MBA programs.
Pursuing MBA from foreign colleges or pursuing programs offered by foreign colleges through edtech companies is becoming trendy. The top destinations for Indian students for MBA are the US, Australia, UK, Japan, Canada, etc. As students are looking for global opportunities, MBA for universities is becoming a growing trend in 2022.
Many Indian colleges to attract such prospective students are offering global MBA degrees in collaboration with various foreign Institutes.
Want to join an MBA?
Joining an MBA program is like a dream come true for many students. The MBA admission process is a little complex. You have to give entrance tests like CAT, MAT, XAT, GMAT, etc., score a good percentile, apply to the best MBA colleges in Mumbai, Delhi, Bangalore, etc., and then clear the interviews of the respective colleges to gain admission.
Good MBA colleges are present all over India to provide students with the best education and skill development. Students can easily find good MBA colleges in Maharashtra, Delhi, Karnataka, etc. Moreover, the best B-schools are located in major cities where major businesses are located. The B schools in Mumbai, Bangalore, Delhi, etc., are some of the best in India.
The advantages of doing an MBA are manifold compared to the sweat and hard work that goes into admissions. After an MBA, you will possess many business-relevant skills to manage business operations, join the top-level management and even launch your own start-up.
