Approximately 90 percent MBA graduates are unfit for employment. In merely couple of years, this popular and prestigious degree has noticed over 3% drop in employability of graduates. MBA was always revered as a flourishing career option. For almost two decades, people enrolled in International MBA colleges to ensure high salary, international exposure and leadership position. MBA was the norm and a status symbol. However, in the past years, there has been a wind of change. The number of employable graduates has been dipping each year and industry experts have been questioning about the future of MBA. It’s time to address the elephant in the room and look for the solution to increasing jobless MBA graduates.
It’s time when employers and educators sat together to find future course of action. When it comes to preparing students for the future, government also has a critical role to play. Students need to be taught skills necessary for performing their jobs in the real-world scenario. While there is still ambiguity over the approach and methods of learning, but there is hope if all the stakeholders are on the same page.
There is a dire need for reskilling students. In the next few years, emerging technologies like artificial intelligence, machine learning, blockchain, and data analytics are believed to kill 50% of the total jobs currently performed by humans. Of course, it will lead to new job roles, but students have to be prepared for these new skillsets. MBA graduates must be also prepared for rapid automation and it is possible only through continued reskilling.
Another cause of concern is increasing number of MBA graduates. There are more than 4000 b-schools only in India. Every year, lakhs of graduates are churned out from these MBA institutes. However, only a few thousand vacancies are available every year. The massive gap between supply and demand needs to be brought down. It is possible by following a wide range of stringent measures. For instance, law makers and educators can shortlist the best international MBA programs and ensure that they have pinnacle level education standards. The remaining institutes and programmes can be asked to restructure their curriculum and pedagogy.
We are a premier business school. In order to cope up with the challenges faced by the education sector and increasing numbers of unemployable MBA graduates, we have made drastic changes in our pedagogy. Our modern approach is showing positive results. Our students are getting placed in top companies across the globe. To find out more about our MBA programmes, reach out to us at firstname.lastname@example.org