MBA from IIM is deemed to be a great accomplishment. IIM being a premium institution has over the years seen 100% placements, however according to an ASSOCHAM report out of the students enrolled into the top 20 B-schools, only 7% of the students from other colleges get placed immediately after getting their degree, such an enormous difference. Even if you manage to land a job, it doesn’t pay well.
“MBA” not long ago was something you must do, whether you’ve graduated in arts discipline or engineering or law or even MBBS, you must do MBA. WHY? Because you earn well, business will hire you in the split of a second, pay you whopping salaries and trust your financial wisdom blindly just because you have the MBA degree.
So what happened to this paramount status of MBA over time?
The IIMs and other top B-schools might still have their aura however the other B-schools have lost their charm. Today, one can find at least 1 B-school rather an institution offering the degree of MBA in every 20kms radius in small villages and towns which has resulted in the ignorance of quality control, hiring unqualified faculty along with poor infrastructure.
Another popular career choice more like the parents’ favorite in addition to MBA was engineering, which too is losing its supreme status. According to a McKinsey report out of the entire population of engineers only a quarter actually have the competence to be employed.
Engineering like MBA has faced similar problems primarily of the influx of students along with influx of engineering institutions and employment problems. Secondary problems for both include dearth of qualified faculty, ignorance of quality control, obsolete curricula, lagging in industry linkages, etc.
AICTE i.e. All India Council for Technical Education the regulatory body for technical education in India has taken a few steps recently for the betterment of quality of education like making 3 Internships mandatory for the engineering students while they are pursuing their course in addition to releasing a new updated curriculum for the course soon. It also decided that the curriculum will be revised every year along with encouraging startups by students, change in examination systems, ad-on courses that will develop a student’s technical and soft skills and most importantly regular training for teachers from time to time.
The claims of technological development are all a façade in the face of this issue, which is a matter of serious concern as the youth is the future of the country, the youth that is unemployed and whose output is zero when it comes to anything other than routine work. In addition to this, the helpless IT industry cannot be counted on to improve the situation as most of them have prospered by depending upon labor rather than on innovation and “real” development of Human Resources.
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