With a decline in the number of students opting for admissions in MBA institutes, the once-sought after course is losing its lustre.
A large number of B-schools, other than the top 10-15 institutions, are going through hard times on account of 40-50% drop in campus hiring, a report by Assocham states.
Also, there is a decline in the number of students opting for fresh admissions in MBA schools.
This clearly shows that the once sought after MBA course has definitely lost its lustre.
“Back in 2004-06, when the economy was booming and the BPO sector was just coming up, employers did not care which MBA school you are from, as long as you boasted of a degree. Many MBA schools came up during this period, claiming 100% placement,” says Yogesh Sehgal, from Talisman Advisors.
However, things have changed drastically since then. More than 190 B-schools shut in 2012 in major cities like Delhi-NCR, Mumbai, Bangalore, Ahmadabad, Kolkata, Lucknow, Dehradun etc. Another 165 are struggling to survive, reveals the report. This has also resulted in lower salary packages for students.
“The salary packages which are offered at B-schools and engineering colleges are being curtailed by 35-40%, as compared to last year,” says DS Rawat, secretary general, Assocham.
“I hear from other colleges that some of the top MNCs are even skipping campus recruitment this year,” says placement officer at MS Ramaiah Institute of Technology. This year, Facebook has not registered for placements at any of the IITs. Experts say that the situation in the engineering colleges is worse, since there has been a mushrooming growth in their numbers, with many of them lacking in adequate infrastructure and quality teaching faculty. Global uncertainty has affected placement pattern at colleges in the country, say some experts.
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