Poor campus placements at many B-Schools across India have caused a drastic fall in the demand for MBA courses, with the only exceptions being the IIMs and a few other top schools.
The ASSOCHAM survey goes on to reveal that only 10 % graduates from Indian B=schools schools, excluding those from the Top 20, get a job straight after the course, compared to 54 % in 2008. Campus placements saw a massive 40% fall in 2012 and B-schools are no more the proverbial magnet for students.
Unsurprisingly, more than 180 B-schools closed in 2012 while another 160 are fighting for survival and may shut down soon. Obviously, there is a problem of plenty here. Sample this: The number of B-schools in India has tripled to about 4,500 in just 5 years. Together, 3.6 lakh seats are on offer every year but the slow economic growth has not created many job opportunities.
The survey blames the private schools by saying that they are more of business ventures by "some management guru to earn money out of investment". It faults the students too, who are not concerned about educational quality and only want to know about the placement and salary figures and fee discounts, thus spoiling the entire education system.
Engineering colleges are not far behind. They have also seen a drop in interest as has the once-coveted MCA. Nearly 95 colleges stopped offering this programme this year.
Predictably, the survey advises the students not to look at an MBA as a tag for professional success. Further, one's current position, long-term goals and finances need evaluation to take a sound, well-informed decision.