NEW DELHI: There are more Indian management students unemployed this year than in the US and other parts of the world with the unemployment rate for Indians at 13% compared to an average 10% globally for the class of 2013. The Indian unemployment rate marks a sharp jump from last year's global average of 8%. Indians also on an average earned one-third less than their American counterparts this year, according to Global Management Education Graduate survey — conducted by the Graduate Management Academic Council (GMAC) for management students in their final year of business. The poll for Indian students showed that 13% graduates are not working. The top three reasons for not having found a job include lack of industry or functional experience (47%), not being able to find a job that paid well enough (29%), while 29% felt overqualified for jobs on offer. "Economic conditions vary around the world, and the employment rates among business school graduates vary as well. The poll itself did not ask alumni about the economy per se, but some mentioned tight job markets when asked for open-ended comments," said Gregg Schoenfeld, director, Management Education Research, GMAC. The median starting annual salary offered to US citizens who graduated from a full-time two-year MBA in 2013 is $90,000, with a bonus and additional compensation of $10,000. US citizens, who graduated from a part-time MBA programmes, report a median annual salary of $85,000. In comparison, Indian students, who graduated from full-time two-year MBA programmes report a starting salary of $34,988, while their European counterparts with full-time one-year MBA programmes reported starting salaries of $101,093. In the class of 2013, 90% alumni were employed as of September, which includes 5% identified as entrepreneurs or self-employed. This is an improvement upon the 60% of jobseekers, also from the class of 2013, who reported they received a job offer a few months prior to their graduation. Moreover, class of 2013 alumni reported improved employment status compared with the majority of global alumni in the past five years. Employment rates vary by country and region, with 95% of US respondents employed, Latin Americans (92%), Indians (87%), Europeans (82%) and 85% for Asia-Pacific countries. Findings represent responses from 915 students from the class of 2013 — a 19% response rate— from 129 business schools around the world. A profile of respondents by citizenship shows that 433 alumni come from the United States, India (129), Latin America (109), Asia and Australia/Pacific Islands region (96), Europe (89), Canada (25), and West Asia/Africa (20). [Reported in TOI dated 20.11.2013] Educate, Empower, Elevate Prof. Bholanath Dutta Founder, Convener & President MTC Global & Knowledge Cafe
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He has pointed all the points quite accurately, particularly point 7). Although the UGC/ AICTE recommended qualifications for associate professors/ professors in central/ state / certain deemed universities stipulate industry experienced persons with flair for teaching are most welcome, it is rarely implemented across the selection committees consisting of primarily senior and traditionally come up through educational institute route. They give more importance to educational teaching experience years and less on teaching quality effectiveness, PhD qualification and research publications that border more on theoretical knowledge creation and less on managerial relevance! On the face of it and in media conferences, all senior persons of HRD ministry and Educational commissions profusely talk of engaging industry people in education, but they do not accord encouraging status to those who have moved from industry to academia and doing an effective job to train the students!
regards,
Dr.P.S.Raychaudhuri
New Delhi
Date: Tue, 26 Nov 2013 03:42:39 +0000
To: join_mtc@googlegroups.com
Subject: Re: [MTC Global] 13% of Indian management graduates fail to find jobs
From: raolb@rediffmail.com
Dear Prof.Bholanath,
This had to happen.When there has been
1.Total disregard by many management institutes to focus on imparting quality education.
2. There was a rat race among the institutes to advertise that their institute has produced 99% ,100%,98% pass results (The fact being that students are being awarded internal marks as high as 95%, 96% and so on and the same students scores just pass marks in External examination. This was only to attract more students to make money.
3.There are institutes where the Attendance records are manipulated for inspection purpose and the actual attendance is different.
4.There are faculties who want to be unbiased while giving marks but they are facing pressure from the management to inflate the marks so that the students pass and they can claim good pass percentages.
5. The institute have adopted a double edged weapon of calculating the pass percentage of students with other subjects/faculty obviously the faculty inflates the marks to prove that the subject which he teaches has better pass percentage.
6.Institute have appointed totally fresh or one or two years experienced faculty (since they come cheap) to teach the M.B.A. students. How can industry accept this.
7.Do all Ph.D. teach will Is it that non Ph.D. and several decades experienced corporate person are very poor teachers.
8 Management education is predominantly for catering to the corporate requirements.
9. Corporates will chose and pick candidates as per their evaluation. They seldom compromise on the requirements.
10. Commercialization of education by compromising on the quality has led to this.
I strongly feel there is a demand for quality M.B.A students in corporate but corporates will not pick up s**t
Rao.L.B
From: "Prof. Bholanath Dutta" <bnath.dutta@gmail.com>
Sent: Mon, 25 Nov 2013 16:06:21
To: <join_mtc@googlegroups.com>
Subject: [MTC Global] 13% of Indian management graduates fail to find jobs
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Re: [MTC Global] 13% of Indian managementt graduates fail to find jobs
As long as education is regarded as just another way of minting money, and as long as there is no proper check for teacher's quality, the downward drive will continue. Everyone in India, having money and/or the right reservation stick, can become higher education faculty and get a PHD - provided he/she has some average intelligence and the ability to learn by rote. This way, book-knowledge is purported (even if long outdated) which has nothing to do with the real challenges of modern economy and modern workplaces. Also, the ability of learning by rote shows poor intelligence because those who are in fact highly intelligent have difficulties to do so. They incur problems from their very first days in school as their creativity and questioning is immediately suppressed by teachers of the ilk I mentioned above.
If our educational system is not radically revamped (not "reformed"!) we have no chance to really rise to the challenges of a globalised economy!
Most of the time, our teachers at all levels are mainly concerned with pay rise instead of quality teaching. Those few who try to change things, become ridiculed and isolated by their own colleagues.
To sum up: as long as education is solely defined by being expensive and corrupted, nothing will change for the better.
Irmel V. Marla (Sociologist/Anthropologist)
In a message dated 26-11-2013 23:10:13 India Standard Time, psray61@hotmail.com writes:
Dear Mr. Rao and all members,
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