Is MBA dying in India???
“Over 40% seats in India B-Schools to remain vacant this year!!!”
This reveals that the course is losing its popularity, finally setting in students who once coveted MBA courses for cushy corporate jobs, it seems that the competition and the desire for it has ended. The falling numbers to poor job prospects discourage others to go for an MBA. MBA’s are losing sheen as jobs dry up and economic slowdown discourages the chances of getting the desired job.
India produces the largest amount of MBA’s than any other country in the world. With increasing number of colleges every year, and the students opting for other courses, it can be said that the number of vacant seats for the professional course is likely to increase more in future.
The education system in India is also responsible for this disaster. The committee is giving permission to colleges and universities to open an MBA institute whereas it should first concentrate on the existing institutes and keep a check on its quality of education it is providing. The faculty present over there and the facilities they are providing to the students are not up to the mark. This discourages the student and creates lack of interest in the course.
A survey by mbauniverse.com states that “Outside top 20 b-schools only 24% students are employable!”
The system of giving permissions to establish new MBA colleges and admitting students on quota basis, reservation, are responsible for this to some extent. We cannot deny it.
A person getting 50%ile marks in MBA entrance exam gets admitted to an IIM, where as a person with 90+ %ile cannot make it. Also, the students who opt this course may not have clear career goals. Mostly it happens, engineers who have not got a better job, try their hand in the branch for better prospects.
Moreover, sometimes people select their specialization in MBA based on the gender! Finance and HR are likely to be selected by girls and Marketing and International Business, Logistics and Supply chain management by the boys! This leads to the less employability of the student towards the job.
The committees (AICTE, DTE) should develop a proper system to maintain the quality of education instead of focusing to increase the quantity of seats. This may help to save MBA from dying!!!
Sources: DNA, mbauniverse.com, TOI.
– Prateek Aloni