INFORMATION-TECHNOLOGY director Samuel Schwarz, 38, believes that doing a master of business administration (MBA) will help him during the current economic slowdown.
"I think it assures my employer that my skills are up-to-date and...it would be easier to find employment elsewhere should I unexpectedly get retrenched," said the Singapore permanent resident, who is doing the course at online graduate school U21Global.
And he might not be alone in taking up an MBA programme during bad times.
Mr Nick Hutton, chief executive of U21Global, said that past experiences have shown that a downturn "often led to a surge in MBA course applications".
Tertiary institutions my paper contacted also made similar observations. However, they are unable to provide the latest application figures for their MBA programmes because applications are still ongoing.
But they said they did notice more applications during previous downturns such as the one in 2003, when Singapore was hit by the deadly Sars disease.
This year, among those who attended information sessions for the MBA offered by Nanyang Business School, employees from the financial-services sector showed "strong interest" in the course, said Associate Professor Chung Lai Hong, head of the MBA programme.
Additionally, an economic downturn is a good time for employees to acquire new skills.
A National University of Singapore Business School spokesman said that "many applicants will take the opportunity...to upgrade themselves".
And many think having an MBA allows them "to take advantage of the economy when it recovers", said the Singapore Institute of Management.
But human-resource practitioners said that an MBA is not a guarantee for job security.
Said Mr David Ang, executive director of the Singapore Human Resources Institute: "When a company is retrenching, it retains employees who have performed well, are experienced and have contributed to the company."
It takes more than an MBA to get a job. Said Mr Tim Hird, managing director of recruitment firm Robert Half Singapore: "As the job market gets more competitive, individuals with relevant work experience, qualifications and a strong skill set will have an edge."
