PLACEMENTS IN THE LIGHT OF CURRENT SLOWDOWN IN THE ECONOMY
Indian economy is facing a slowdown in the economy, and it is affecting placements in MBA colleges too, not only there are a fewer offers but also less remuneration.
Unemployment is on the rise in the country. Jobs are on the decline. Placements scenario in colleges across the country is bleak. The job market is severely battered at present. India, being a country with the youngest population needs to harness its potential effects to ensure the development of the nation.
Companies are offering very low salaries to even well-deserving candidates due to the abundance of alternative candidates. They have abundant applicants for a single post. India, being a labor surplus country, is reaping the results of overpopulation which have trickled down to jobs.
Despite offering low-salaries, the working hours are illogically high. 9 hours a day is the least an employee works in the private sector. The actual hours can be anywhere between 10 to 12 hrs a day. This leaves very little time for the individual for their personal development. In turn, they do not get the chance to make themselves competent to explore other fields of occupation. This forms a vicious circle where the individual gets stuck without any prospects of growth.
Placements-
Very few graduates are actually employed in the field that they did their graduation in. Most of them get employed in completely different fields, sometimes almost irrelevant to what they have studied in their colleges. Instances of engineers being employed in Sales roles, Mechanical engineers in IT jobs, etc. are very high and have become commonplace.
In comparison to corporate houses, start-ups are emerging as a savior of the job market in India. Though they offer a heavy workload but the work-environment, learning opportunities and growth potential are ample. The job roles are not monotonous and offer a great opportunity to learn for the graduates.
The blame does not entirely lie on the businesses and companies. The education system of the country is creating incompetent graduates. Businesses and corporate houses have time and again raised the issue of unemployability of the candidates. Statistics show that 80% of India’s engineering graduates and 99% of MBA graduates are unemployable by the industry. Graduates do not have any relevant skill set required to be useful in the industry. What is taught in the college curriculum is, to a great extent, out-dated, irrelevant and only theoretical. Indian graduates lack highly in their practical knowledge and communication skills.
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Source - Edumyra
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