For decades, earning a MBA degree to brighten up the career prospects in management, has been the coveted dream of students and professionals alike. Employment quotient of MBA graduates are always high and they climb the ladder of success expeditiously and smoothly as compared to their counterparts. But in last few years, there has been an exorbitant decline in the number as well as interest of MBA aspirants. The pervasive notion that success automatically gravitates towards MBA graduates has been challenged and unlike the earlier days, job market does not bring windfall gains to the MBA graduates. Now, having a MBA degree does not mean that you will receive the top notch jobs, rather burgeoning number of unemployed MBAs is an uncomfortable reality. Statistical analysis of campus placements in last five years in different management colleges of the country also does not give encouraging results.
Image Source: Hindustan Times
However, placements are market-driven process but still human resources professionals ascribe the reason for surging unplaced students in B-schools to the absence of competent faculty and industry training facilities. Employers argue that quality of MBA pass outs are not upto the mark and they are not job-ready.
The latest Higher Education report by FICCI (Federation of Indian Chambers of Commerce and Industry) and Ernst & Young (EY) reveals that ninety-three per cent of MBAs and eighty per cent of engineering graduates in India are unemployable due to the lack of connect between what they are taught in colleges, and the industry requirements.
Image Source: DNA India
But amidst dwindling hopes, the GMAC 2018 Corporate Recruiters Survey report, released by the Graduate Management Admission Council (GMAC) fills MBA aspirants with unbridled enthusiasm and brings a ray of hope for them. The report says that four out of every five companies were planning to hire MBA graduates in 2018.
According to the report, around 90% companies in Asia Pacific plan to hire MBAs in 2018 and among all respondents globally, 52% of companies intend to increase MBA starting base salaries this year.
So, if you think earning MBA degree is not worth it, you err. If you pick up an institution of repute that could bridge the gap between your skill set and industry requirements, certainly you can land your dream job.