In a awful disclosure by a recent study, around 3,300 B-Schools of India produces over tens of thousands of management graduates every year out of which only 10% are ‘Employable’. This fact has resulted in an immense frustration among MBA graduates in India. Interestingly hardly 10% are employable or possess basic necessary skills required to work in sectors like marketing, finance, HR, etc.
The test quizzed graduates on topics including grammar and quantitative analysis. The result was negative in terms of basic English grammar skills, the foremost requirement for working in the corporate world, particularly in fields where they have to face clients directly, as in consulting, banking, marketing and sales. Also, less than 50% of the students were unaware of key industry terms and concepts in their areas of specialty itself.
On the other hand, a study (August 7, 2012 ), which covered 2,264 MBA students from 29 cities and 100 B-Schools, unveils that the employability of management graduates in India has declined in the past five years, as only 21% of MBA students surveyed are ‘employable’, it’s shocking to note that 11% drop down is observed, in gap of just 5 months.
Surprisingly, the number of MBA seats in India has grown almost four fold, from 94,7049 (2006-07) to 3,52,571 (2011-12), resulting in a five-year astounding annual growth rate of 30%, but their employability rates have dropped down greatly, the study noted. (On the contrary, the MBA degree is slowly losing its luster in Karnataka with 50% of the government seats remaining vacant this year)
Well, these findings are evident that India’s MBA curriculum is flawed because of its emphasis on rote learning rather on hands-on experience. The MBA schools invent new labels but teach old stuff, enhanced curriculum with increase in hands-on experience is required.
Indeed, increasing complexity of business makes the need of management graduates imperative, who are equipped professionally in strategic thinking. Moreover, It is quality and the excellence which matters, great majority of MBA graduates from quality programs are employed within a few months of graduation. Superior quality MBA education still has same market value. There is always a demand for good professionals but educational institutions are unable to provide it. Education should not be a business but a platform to feed resource of information.