Concerned over the drop in the number of management graduates netting offers at campus placements, the All India Council for Technical Education (AICTE) that governs management education in institutes other than the IIMs, proposes to go in for a major revision and updating of the curriculum.
In 2016-17, Around 200,000 students had passed out of an estimated 5,000 management institutes across the country.
However, only 47% of Master of Business Administration (MBA) graduates got campus placement, a 4% drop compared to the previous year that also marked a five-year low. At 12%, the drop was far sharper for postgraduate diploma holders, the Hindustan Times newspaper said in a report.
While 73% of PGDM students found placement in 2012-13 and 76% in 2013-14, it dipped to 60% in 2014-15. It recovered and went up to 72% in 2015-16 and came down to 60% in 2016-17.
The data, however, does not include the placement records of the Indian Institutes of Management (IIMs) as these are outside AICTE purview.
The data for MBA graduates from 2012-13 shows 49% placement that goes up to 51% in 2013-14 peaking at 52% in 2014-15. The figures for 2015-16 show 51% that drops to 47% in 2016-17.
While 73% of PGDM students found placement in 2012-13 and 76% in 2013-14, it dipped to 60% in 2014-15. It recovered and went up to 72% in 2015-16 and came down to 60% in 2016-17.
Experts have placed the blame for the fall in recruitment on sluggish economic activity as well as a mismatch between the curriculum and industry expectations. A senior AICTE official, who preferred to remain anonymous told the paper that the higher education regulatory body was taking steps to update and review the curriculum in 3,500 affiliated institutes.
Meanwhile, HR Managers, expressing concern over the quality of the graduates, say that instead of getting “job ready” executives, most of them are unemployable, lacking the requisite skills.
Management education, by and large, had remained confined to the IIMs for decades, till the opening up of the economy resulted in soaring demand for management graduates. In such a situation, several new private and government institutions were set up all over India.
However, the quality of education varied with some of these institutes not investing in building a proper faculty or admitting students with requisite qualities.
Another AICTE official stated that work on the model curriculum for management institutes was almost complete. The revised curriculum places more emphasis on skill development and practical training for the students rather than theoretical knowledge. These could include more internship opportunities for students in well-known firms.