This post is triggered by a disturbing, although not surprising article about several B-school start-ups that had to shut down in the year that whizzed past. Employ-ability remains a concern and even the average salaries of those graduating and getting jobs is low. Except for the top B schools, there certainly is an issue with demand itself (due to slowdown and other macro-factors that keep the likes of Chidambaram and Samuelson busy). This is putting humongous pressure on the MBA generating machinery, the institutions that come in all shapes and sizes. Hopefully, we will not end up having another 100 IIMs in the next 20 years as a solution … but you never know. If poverty itself can be defined as a state of mind by a likely PM candidate, what is bliss? Inference is that ‘Ignorance of poverty is bliss for many already in a state of bliss?!’
As I was driving towards office, another interesting data point I heard on the radio was about the number of engineering seats that are lying vacant in Tamil Nadu and that is true for all branches including the once sought after elite courses Computer Science, IT and Electronics. Demand for fresh engineers is not sufficient to match the infinite supply potential today. About 50% of seats are vacant in many places and that is a ridiculously high proportion of vacant seats! These are serious concerns if the country has to make progress. We must focus on the means to generate employment. Why are jobs not getting generated? Why are people not getting placed? Why are colleges closing down? At this rate we will have disillusioned youth roaming the streets in years to come. Imagine paying lakhs to get ‘quality’ management education in a 1 bed roomed apartment doubling up as a B-school and then getting a job with zero fixed salary. But not to worry because the variable component is generously loaded with peanuts! This is a bad trend and needs to be looked at more seriously than ever before if we have to keep progressing.
What will you do to contribute? I am working on what I will be doing …. Until then Hope to get freedom from the Hopeless will keep us going! Not sure if chanting Om NaMo Namah will help … but gotta go now and get ready for a big Bored meeting err … Board meeting, I mean 😉