With lakhs of MBA aspirants all set to give the Common Admission Test (CAT) 2017, which is a computer-based test held in India for making it to the MBA Colleges, there arises a baffling question, “Is there a job security after MBA?’
From arts students to an engineering student, one can find every nook and corner of the country replete with students who are ready to give their CAT this year and in fact, there are many who have started their preparation 6 months back for CAT 2018. But is anyone of us aware of the present or future success rate of one of the most hyped courses of the millennium i.e MBA?
As per the report by Hindustan Times released early this month, ‘Fewer than half of new MBAs are placed’ which clearly highlights the fact that in 2016-17, just 47 percent of Master of Business Administration graduate got placed on campus across AICTE (All India Council for Technical Education) Colleges.
A significant fall of 4 percent points over the previous year might be an eye-opener to all as the management course has almost reached its saturation point in terms of rate of return to the students pursuing it. However, the data does not include the Indian Institutes of Management (IIMs) that are not affiliated to the main regulatory body, AICTE.
But since every student does not make it to IIMs, there seems to be a constant dilemma regarding their security of placements. With every year, a huge quantum of students passing out with an MBA degree from a high profile college, the employment rate of the same has fallen down to a significant rate. On an estimate, the country has 5000 management institutes along with about 2,00,000 students passed out of these institutes in 2016-17, but at 12 percentage points, the drop is far sharper for postgraduate diploma holders.
The major reason for such a drop is the paucity of people who are ready to pursue a job right after MBA and the major concern arises to be the quality of graduates in the same field. As per the experts, there seems to be a dearth of pragmatic approach on part of the MBA graduates regarding their future course of action.
Apart from statistical data and analysis, if one looks onto the other side of the horizon, there seems to be a clear display of the reality that the management courses do not have a significant amount of jobs in comparison to the number of students pursuing it. And it is not only about the particular field of management or commerce, as in the present spectrum of time, all that matters is the caliber of the person in any respective field.
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