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Only less than 10% management grads are employable
Employability of management students remains below 10 per cent for any functional role in the field of HR, marketing or finance, a survey has revealed.
According to the National Employability Report by Aspiring Minds, employability of management graduates is at dismal low levels particularly in the field of business consulting, followed by analyst and functional roles.
"There is an urgent need to audit whether we are training industry-ready individuals," employability assessment company, Aspiring Minds COO and CTO Varun Aggarwal said.
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Only less than 10% management grads are employable
Though there has been a remarkable focus and success on building capacity in management education in India, the same cannot be said for building the employability quotient of the candidates, the report based on graduate class of 2011 covering 32,000 students from over 220 MBA schools said.
"The low employability figures show that management students and colleges need personalised employability feedback and guidance to take the right corrective steps," Aggarwal added.
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Only less than 10% management grads are employable
Management education in India has witnessed a mushrooming growth from just about 200 MBA colleges in the early 90s to around 3,300 MBA colleges today.
The analysis pointed out that employability for males and females is similar across most functions except HR roles where females are more employable.
Employability of MBA graduates is exceptionally low (2.52 per cent) in business consulting whereas it is just 7.98 per cent for the analyst function, the report said.
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Only less than 10% management grads are employable
The report found that employability in corporate sales was 10.56 per cent was almost half of that in consumer (B2C) sales (21.72 per cent). Moreover, the employability for customer service roles is 16.01 per cent.
While marketing records the lowest employability at around 6.99 per cent, BFSI (7.69 per cent) and HR jobs (9.63 per cent) follow closely. Only 7.69 per cent MBA-finance
students are employable in the BFSI sector, which has created a very large number of jobs in the last decade, the report said.