The ongoing economic slowdown has affected a majority of B-school graduates as they are unlikely to get plum jobs this time. On-campus hirings have dropped by a massive 40-50 %, as per a study. Barring top colleges like the IIMs, most other B-schools fear a lean placement season, along with reduced fresh admissions, says the ASSOCHAM report.
Moreover, the salary packages offered at B-schools and engineering colleges have also been curtailed by 35-40 % as compared to last year's. Sectorally speaking, the financial and telecom sector jobs have gone down by 35%. Predictably, the lean scenario has led to a drop of 40-50 % in fresh apllicants' numbers for B-schools and engineering colleges, as placements are of prime concern to the students studying there.
The trend is also mirrored in the steep 35 % drop in the number of students for the MAT exam, conducted annually by the AIMA (All India Management Association). Consequently, more than 190 B-schools have already shut down in major cities while another 165 are struggling for survival.