Why pursue higher education now, rather than take up a job?
The Sars-CoV-2 has wreaked havoc worldwide and the Covid 19 pandemic has already claimed more than 100,000 lives globally. Besides the impact on human lives, Covid 19 induced lockdowns have spurred the fear of a recession and the threat of global economic disruptions looms large. There has already been a drastic slowdown in global trade and growth. The grip of the pandemic has devastated several major economies of the world. Given the number of cases and unfortunate loss of lives, European nations especially are going to face an uphill task to recover from this economic recession.
Covid 19 induced economic change
Even though forecasts are hazardous in the present circumstances, India is expected to overcome Covid 19 faster as the nation went into lockdown mode earlier than other countries, limiting the spread of the virus amongst its populace. It is expected to emerge from this looming economic crisis in a much stronger position than before. China is facing a lot of negative sentiment for the irresponsible handling of the deadly coronavirus which led into its turning into a full-blown pandemic which has impacted the entire planet. One of the world’s major economic power, has already set the ball rolling by earmarking huge funds to ease the transit of its manufacturers out of China. This could be the tip of the iceberg which could very well tilt the shift in India’s favour.
India: Services and manufacturing solution provider
After its battle with the pandemic, the world is going to see a realignment and most developed nations will look for manufacturing and service solutions. India has several years of experience of being a service provider and has been a hub of backend support for many big organisations. On the manufacturing front, India has the technology and the advantage of ready cheap labour; plus, government incentives like the recent lowering of corporate tax and the policy of “Make in India” has already set in place a healthy manufacturing ecosystem. More and more nations are going to turn to India for their services and manufacturing solutions. This is expected to lead to more international organisations setting up offices in India
IMF projects quick economic recovery for India
Even though the Financial Year 2020 has taken a harsh beating and the world is in its worst recession; On April 14, 2020 the International Monetary Fund (IMF) projected a GDP growth of 1.9% for India. In 2021, IMF has projected a rebound growth rate of 7.4% for India’s GDP, which is among the fastest growth rates in the world. India’s economic recovery is expected to follow a V trajectory rather than a slow rise.
Real Estate sector expected to recover faster
The real estate and built environment sector is expected to emerge from this economic upheaval quicker than some of the other sectors. Organisations setting up offices in India will increase the demand for office space and ancillary needs like housing, malls etc. The Indian real estate and built environment sector was already facing a shortage of skilled professionals and this is expected to increase this gap.
Why pursue higher studies now rather than take a job
During this recovery phase of the economy, as organisations all over the world restructure themselves and align themselves to the new world order, there is expected to be a gap in job availability in the market. Even if one manages to find employment the salary offered in these trying times would be far lower than the expectations. Unfortunate though it is, the current lull in the economy could prove to be a blessing in disguise as it seems to be the right opportunity to pursue higher education and be ready to be placed just when the economy is looking up.
Upgrade your skills in the right sector
Since the real estate sector is expected to recover fast it would make sense for young graduate civil engineers and architects to upskill themselves by pursuing real estate post graduate courses like an MBA in Construction Economics and Quantity Surveying and Construction Project Management or Facilities Management from institutes that have an international accreditation and make themselves ready to be a part of the new emerging growth. As the economy bounces back there is going to be an increased demand for highly skilled professionals and a mere bachelor degree will be insufficient to secure a well-paying job with potential for growth.
Choose the right institute
There are relatively few institutes in India that offer courses in real estate. RICS School of Built Environment Amity University is the only institute that offers RICS accredited courses in India. Accreditation has proved to be the key differentiator in terms of the quality of education that the students get. The MBA in Construction Project Management from this institute is the only program in India to be granted a PMI accreditation. The globally accepted accreditation along with a curriculum that trains the students in all the relevant theoretical, practical and software skills ensures that students get good placement offers in India as well as in the international market.
No doubt this is a very tumultuous time for the economy and the recovery from the devastation caused by Covid 19 will not happen overnight. Eventually the economy will certainly bounce back and the question that you need to ask yourself is, “Do you want to apply for a job now or would you rather be the building block of the new emerging economy?” Smart young minds will use this low phase to pursue higher education and be absolutely job ready and employable when the time is just ripe.
About RICS SBE:
RICS School of Built Environment (RICS SBE), Amity University is an industry led academic institution which delivers specialized undergraduate and postgraduate programs to students ambitious to work in real estate, construction and infrastructure sector. It also aids as a hub for research and development of technical proficiency in built environment.