What’s the most popular profession in India besides engineering? It’s MBA. If you are an MBA living in India, you are gold in the matrimonial market. There are MBAs everywhere. But somehow finding a job is still difficult. And even when you do find one, the pay you get is so mediocre, it won’t even pay your MBA loan for the next 20 years. Well, Associated Chambers of Commerce and Industry of India (Assocham) has answered the question everybody is unwilling to answer.
According to the organization, except the top business institutions like IIMs and a few others, the rest of the business schools in India (over 5500 of them) produce graduates who are mostly ‘unemployable’. And even if they do get jobs, the pay is really abysmal, often amounting to only Rs 10,000 a month. “Barring a handful of top Business schools like the government run IIMs and other few, most of 5,500 B schools in the country are producing sub-par graduates who are largely un-employable resulting in these pass-outs earning less than Rs 10,000 a month, if at all they find placements,” the study pointed out.
© Yash Raj Films
“Lack of quality control and infrastructure, low-paying jobs through campus placement and poor faculty are the major reasons for India’s unfolding B-school disaster,” Assocham stated. Apparently, only 7% of MBA grads are employable.
“Around 220 B-schools had shut down in the last two year in cities such as Delhi-NCR, Mumbai, Kolkata, Bangalore, Ahmedabad, Lucknow, Hyderabad, Dehradun etc. And at least 120 more are expected to wind up in 2016.”
Well, we are not surprised. Considering the flooding of MBA grads in the Indian job market, it’s no brainer to guess the quality.
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