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India’s MBA Education Sector Faces Uncertain Future
The decline in value of the Masters in Business Administration (MBA) degree over the past four years has actively contributed to the closure of MBA colleges in India. Once considered a ticket to lucrative jobs with salaries in lakhs per month, the MBA degree has failed to deliver on its promise. As a result, the initial rat race for the degree has slowed down, and students have begun to question the quality of education provided by MBA colleges. This has led to a further decline in educational standards, ultimately contributing to the closure of many MBA colleges in India. In this article, we will discuss why MBA Colleges in India are closing down.
Why most of the management colleges are not doing well for students
MBA education started gaining popularity in the Indian education market since late 1990’s and early 2000 saw sharp increase in MBA colleges
across different part of country. At one time, there were more than 5000 Management colleges that were certified by AICTE, and many national and International level exams sprouted for different management colleges. Apart from government-funded colleges like IIMs, IRMA, and IITs, private institutions such as Nirma, SP Jain, and NIMS pioneered management education and set a benchmark for quality. These institutions attracted students by providing excellent management education, thereby drawing them towards this field.
Downfall of MBA Education In India
Over time, MBA education proliferated, and many considered it an easy entry point into the corporate sector. However, colleges neglected to focus on enhancing the quality of students pursuing management degrees. Furthermore, institutions failed to prioritize personality development and analytical skill development in students, leading to a lack of acceptance in the industry
Earlier, the most credible colleges were the government-run IIMs, with a few privately run management colleges like MDI Gurgaon, IMT Ghaziabad, S.P Jain, etc. making their mark, but with time, management quota seats started bringing educational standards down to the least possible level. College owners had no interest in educating a child; rather, colleges remained much interested in the Placement of students to get enough media coverage. In due process, colleges forgot that placements were a byproduct of proper knowledge that needs to be imparted by colleges to students.
Lack of Education
Furthermore, the Indian government never made serious efforts to develop MBA education, except for top-tier colleges. The Indian management education system actively allowed anyone to secure admission to MBA colleges, which in turn attracted fresh graduates from various job sectors to pursue an MBA education. Candidates with no knowledge of the industry were not able to grasp the practical aspects of marketing, human resources, or operation management.
Many examinations came into the picture, but in more than 90% of MBA colleges, you need not have marks of any exam like that of CAT, MAT, CMAT, XLRI, etc
I came across many students from different management colleges and was always bewildered by the expectations a fresh pass-out had. Every candidate coming out from a management college thinks to get a job with a cabin and telephone with a receptionist to fix his or her appointments and attend calls but nothing like this happened and many students with time fealt cheated due to heafty fee charged by colleges. Many students also felt that they were deprived of jobs because of over qualification, and many fealt that their previous job was more satisfying than what they achieved after MBA degree.
In short, ROI or return over investment by candidates was not proper. This led upcoming generations to move away from colleges that have not proved themselves well in the past and had more focus on placement.
Students also did not focus on their knowledge and blamed college for everything.
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Why MBA colleges in India are closing down
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The article why MBA colleges in India are closing down due to lack of education and colleges are not doing well for students and more.
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Tushar Kumar
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