How to Pursue an MBA in Uncertain Times

Whenever there is change, and wherever there is uncertainty, there is opportunity!” – Mark Cuban, billionaire, co-host of CNBC’s Shark Tank and prior co-owner of the Dallas Mavericks. 

In today’s socioeconomic, financial, and political uncertainty, you may be wondering how best to navigate and optimize your career trajectory. Whether you’re concerned about job stability, visa policies, or long-term planning, the decision to pursue an MBA in uncertain times may be on your mind. While no one has all the answers, we want to offer both context and optimism.

Psychology shows that during tough times, people often freeze. They may cling to the status quo or fall into “analysis paralysis.” But we urge you NOT to sit still. Instead, now is an ideal time to bet on yourself – sharpen your skills (through education, new roles, etc.) to make yourself more valuable in the job market and take control of your career path instead of letting external forces decide your fate. Thinking strategically about an MBA can put you in the driver’s seat.

We don’t suggest ignoring the challenges around you as you consider your decision to go back for an MBA. Instead, apply strategic thinking to make smarter decisions when headwinds blow. 

History offers a powerful lesson: proactive leadership and community matter in uncertain times. For example, during the 2008-2009 financial crisis, MBA programs became a “real-time laboratory.” Students at the top programs learned from faculty who integrated current market analysis into coursework, building resilience and analytical skills. Programs with dynamic curricula and strong communities offer greater value. This is especially true during periods of external change.

Why an MBA Still Makes Sense During Uncertainty

You might worry about a shrinking consulting workforce. Or the effect of global tariffs on your industry, or even going into debt while hiring is slow. You may also wonder how AI could impact your future role or whether you’ll be able to work in the U.S. after graduation. We’re here to help you face these challenges head-on.

Let’s explore if an MBA can boost your career without creating unnecessary risk – and how to approach the application process with confidence. 

Strategically Build Your Skills and Brand

So, how can you take thoughtful action in uncertain times? Start by reflecting on questions such as the following: 

1. In which industries are new opportunities likely to present themselves and which of those am I interested in?
2. How can I make myself more marketable in a changing economy?
3. How do I make the most of internship opportunities? 
   

For example, changes in tariff structures are likely to disrupt the supply chains of multinational corporations – and that disruption will create demand for innovative solutions. If you’re interested in logistics or operations, this may be a timely opportunity to stand out. Use this insight to craft a compelling MBA story and seek a supply chain internship that builds expertise in high-demand niches.

If you adopt this mindset early, you may even find that you identify opportunities to pursue a pre-MBA internship that can boost your resume even before you set foot on campus and internship hiring starts. 

For more guidance on how to tell your story effectively, check out our article on writing compelling MBA essays.

Prepare For Multiple Outcomes

In periods of economic uncertainty, flexibility becomes one of your greatest assets. Unexpected shifts in the job market may require you to consider alternative routes to your goals – and being open to those possibilities can pay off. 

You may want to land a job in the U.S. after graduation. But it’s also important to think through a realistic plan B.. International experience can be invaluable and broaden your network. If you have never studied abroad or have family or friends living in other international economic hubs, think through the pros and cons of taking a more global path in the short-term. We rarely work with clients that have regrets about pursuing international internships, secondments, or studies. Being open to a less traditional path can make you far more marketable in the long run.

How MBA Programs Support Students in Uncertain Times

The Career Services (also called Career Management) offices at top business schools have extensive expertise in helping students navigate challenging job markets. While they may not be able to speak with you directly until you’re admitted, you can ask admissions officers what proactive steps the school has been taking to increase alumni hiring, attract more employers to interview on campus, and improve student’s value proposition in highly competitive hiring environments. They may also be able to share what shifts they have already seen in MBA hiring in the current cycle. These insights can help you feel more confident that the programs you apply to are actively supporting students.

What Strong School Leadership Looks Like in a Crisis

A bit of history for you: In the aftermath of 9/11, Kellogg’s newly appointed Dean, Dipak Jain, traveled the globe himself to personally uncover internship and full-time opportunities for the school’s students in an effort to truly leverage the school’s highly engaged alumni network. That graduation cycle, 91% of graduating Kellogg students were employed within 30 days. 

Separately, after the 2008-2009 financial crisis, Columbia Business School quickly rallied alumni and employers, hosted town halls to provide clarity, and leveraged its career services and network to support students who lost job offers. You can read more about how Columbia navigated that period in this article.

The bottom line is that programs with strong leadership will continue to navigate challenges effectively, attract top talent, and preserve alumni loyalty. These are exactly the types of programs you want to target when pursuing an MBA in uncertain times, especially if you feel like you are swimming upstream.

Financial Planning for an MBA in Uncertain Times

If you’re worried about going into educational debt when job markets are suffering, consider this: if the job market is weakening, then the “opportunity cost” of obtaining an MBA shrinks. For example, if your bonus is likely to trend downward for the next two years or if you fear that you may not get that raise you deserve because your employer or industry is struggling, then you aren’t forgoing as much income to make the leap to a top MBA program. This is a key reason why MBA applications often rise during recessions.

Education is often deemed a “safer” place to ride out economic uncertainty and volatility. 

Strategies to Reduce the Financial Burden

You can also pursue scholarships proactively. Target programs that offer more funding earlier in the admissions cycle. For example, you may choose to apply in Round 1 versus Round 2 when more scholarship money is available, or you may wish to apply to more niche dual-degree programs that have smaller enrollment numbers. Once admitted, don’t overlook the potential to negotiate. It’s more common than you might think. You can read our advice on negotiating business school scholarships to learn how. Taking a proactive and informed approach can make a meaningful difference in your financial outlook.

We’ve guided hundreds of clients with financial concerns through the MBA application process – including during the uncertainty of the pandemic. At that time, many worried about affording their degrees and finding jobs in a rapidly changing, remote-first work environment. We helped them identify programs and financing options that aligned with their goals. If financial concerns are weighing on you, don’t let them stop you from exploring whether an MBA in uncertain times could be the right next step.

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In these uncertain times, remember to believe in your potential! Be willing to make slight adjustments in your plans rather than derailing them entirely. Lean on mentors, loved ones, and experienced professionals who can help you move forward with clarity and confidence. 

If you’re considering an MBA, schedule a consultation with us. We’ll connect you with a thoughtful, honest coach who can help you assess your options and navigate this pivotal moment in your career.