MBA: The fading glory
The sheen of a management degree seems to be fading away with times. In the recent years, it has been said every now and then that management degree is loosing its glory.
MBA graduates who once dreamt of a five-star lifestyle are now even looking down at positions which are a complete mismatch with their education.
Rajasthan University has invited applications for 15 positions for peons and to everyone’s surprise most of the applications are coming from candidates holding MBA, PhD, MPhil and Msc degrees. But why do these highly qualified people are seeking for a job profile as low as of a peon? "I have all these big degrees, but there is no assured employment. If I get selected, I'll get to do a government job," says Manmohan Singh Rathore, who holds an MPhil degree in computer science, a journalism degree and is employed as a teacher in a private school.
So it is not that only the unemployed, fresh out of college students are finding it as a suitable job option for them, but those already employed are also luring for these positions.
An earlier article published on CoolAvenues.com—MBA- Much Below Aspirations, mentions about a b-school pass out who even after spending close to 8 lakh on a resident MBA Program from a much advertised Institute, cannot expect a fat salary package. Reason being, his degree hardly fetched him a respectable market value. There are thousands and thousands of young graduates who struggle for a viable job after having done with their post graduation and are finally bound to bow before their destiny choosing to pursue such jobs.
In Rajasthan University the starting monthly salary for a peon is about Rs. 4,700. This might go up to Rs. 7,000 depending upon years of service. But for highly qualified candidates like Rathore, a job security, with assured pension, government accommodation and other facilities are way more luring than a highly paid job.
Statistics reveal that the number of CAT takers has declined over the years, in 2008 about 2.76 lakh aspirants appeared for CAT, while in 2010 the number reduced to 2.04 lakhs (approx.). Moreover, a large number of seats in more than 2400 b-schools around India remain vacant. A source (name undisclosed) reveals, “Country's premier B-schools has wrapped up their admission process and started classes but seats are still vacant in some of the younger ones.”
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