According to ASSOCHAM study, only 7% of MBA graduates from Indian Business Schools are employable. Read full report here.
Narsee Monjee Institute of Management Studies slammed the report and the Dean, Dr. Debashish Sanyal argued that the survey has taken into account only B and C grade B-schools. He further argued that this deliberate ignorance of the placements from top notch B-schools led to such results. Dr. Sanyal refuted the result, saying, “We had the lowest package at Rs 17.09 lakh last year at NMIMS and the topper got Rs 23 lakhs.”
The results of ASSOCHAM report was also repudiated by Sunil Verughese, Chief Brand and Sustainability Officer at Xavier School of Management, XLRI, Jamshedpur. “We have no problem with placements”, he said. He says that the problem arises when students do not qualify for good B-schools or are not equipped for the grueling course studies at B-schools that do not have good faculty. “if anyone then believes a corporate will offer placements at Rs 15 or Rs 18 lakh packages, then it is far-fetched.”
A professor from a top B-school says that the issue is about the greed for an MBA degree from any college. In the US, there’s an aptitude test for admission in a B-school, says Anirudh Motwani, cofounder of CollegeSearch.in, an online portal that provides information about educational institutes across the country. “Almost everyone chases an MBA and because they believe the degree will take them to a better life. You could be an engineer, a pharmacist, a fashion designer who believes that an MBA degree will open the career doors for you. However, employability is about your readiness to work and the training you have received. You may be lacking that in ill-equipped B-Schools you have enrolled in,” points out Motwani.
ASSOCHAM Secretary General D.S. Rawat noted that the quality of higher education in India is poor and does not meet the demands of corporate world.” The survey excludes the top 20 B-schools highlighting the concern with regard to the quality of higher education in the country. “The report should open a dialogue regarding the nature of the problem, its causes, and steps that need to be initiated to correct the situation”, says Prof. Debabrata Chatterjee, Dean (Administration), IIM Kozhikode.