Every year tens of thousands of MBA grads are churned out by some of the best MBA schools in India. This figure is more than the total population of many countries. However, the sad reality is that a study conducted by ASSOCHAM found that only 7 percent of MBA grads are employable.
MBA graduates spend lakhs of rupees to complete their education, but a vast majority are either employed on a meager salary or remain unemployed for months. Various reasons contribute to the rising numbers of unemployed MBA graduates. Some of them include:
Lack of Skill-Based Education:
When it comes to skill-based education, only a handful of MBA institutions across India value its importance. Such a biased approach has led to the skill gap. While traditional form of education has its merits, skill-based education focusses on advanced learning and hands-on-training. Moreover, it features specialized courses with industry experts. Such an experience helps students become job-ready.
The gap between the market expectations and the skillsets of MBA grads is widening. Policymakers can fill this gap if the syllabus of MBA institutes is updated regularly. Because while the industry is changing and evolving at a rapid pace, the MBA syllabus does not get updated for years. The onus also lies with students. Of course, an MBA with guaranteed placement is everyone’s top priority, but they must simultaneously look for an institute, which evolves with the changing times.
Modes of Education:
We live in a technologically-driven era. These disruptive technologies are impacting companies across the globe. However, most B-schools still trust upon case studies, notes, lectures, and other mediums of education.
We need to bring about a radical change in the mode of education to reduce the unemployment numbers. For instance, imagine an individual is sitting in a classroom. While the traditional model of education will inform him about flying the plane, but with the help of technology, the individual can get hands-on-experience of flying a plane. That is a simulation in simple words. Similarly, there are various other technologies, which can come in handy to widen the horizon and perspective of our students.
At Regenesys, we focus on the holistic development of our MBA students. With the help of industry experts and highly experienced faculty, we help students cultivate the necessary skillsets needed to fulfill the market expectations. For more details about our skill-based MBA programme, you can reach out to us @ firstname.lastname@example.org .