Industry organization Assocham has said that business schools are facing difficulties in getting jobs for their students. According to the organization, only 20% of the students are getting job offers. This year has been quite difficult in modern times. Assocham said that employment opportunities are being reduced for the students of these business schools due to note bans, weak business outlook, and lack of fresh projects. Last year, 30% of the students got job offers. Business schools also saw a decline in this year.
According to Assocham, salaries offered to students of engineering colleges and business schools have also decreased by 40–45% in contrast to last year. Assocham Education Council (AEC) has said that students and parents are now seriously thinking over the spending on 3–4 years on any course and spending lakhs of rupees on a course.
The chamber said that about 400 institutions have gone far behind and they are no longer getting adequate students. According to the report, a large number of engineering colleges and business schools are not able to attract students. Around 250 business schools have been closed after 2015 in many big cities including Delhi-NCR, Mumbai, Ahmadabad, Bengaluru, Lucknow, Kolkata, and Dehradun. There are 99 such schools that have reached the brink of closure.
The biggest reason for this is rapidly growing institutions, which do not pay attention to the quality of management education. The chamber said that the problem is of such institutes focusing only on filling seats and do not pay attention to the quality of the students. Assocham has suggested that with focus on research, improve infrastructure, teachers should be trained, better coordination with the industry, and focus on making the students eligible for employment.
However, in order to keep the education standard on the top position, institutes need to stay aligned with the latest and connected technology.