The chief of India’s premier technical education body sees a grave future for engineering and MBA students on the job front. The business process outsourcing (BPO) industry added the lowest number of employees in the fiscal year 2018 in seven years, according to data from trade body Nasscom. The similar situation is running in IT sector. This is an alarming situation for Engineering, MBA students.
If the situation is not reversed quickly, unemployment ratio will increase. Engineering, MBA students will sit ideal. We will land ourselves in a scenario of having a large number of people with Engineering, MBA degrees but not enough jobs in IT and BPO sectors.
As per Anil Sahasrabudhe, Chairman, All India Council for Technical Education (AICTE), ” Days for big recruitment sectors such as IT and BPO industry are over and there would be no mass hiring industries in India in the near future’.
He added,” The job scenario in large-scale industries is stagnating but small and medium enterprises hold out hope’. According to the latest report, hiring activity for the Engineering, MBA professions have seen an annual decline across the region.
Thousands of management graduates churned out by the 5,500 B-schools in the country, only 7 percent turn out to be employable, says a study conducted by ASSOCHAM. Engineering, MBA graduates are spending huge money on their education, but after graduating, most of them are earning a measly 8000 to 10,000 rupees per month-that too, only when they are able to find jobs.
The IT sector registered a 32 percent decline in job offers followed by BPO sector at 30 percent. Seeing the facts, we can assume that Engineering, MBA students are not able to bag jobs in IT, BPO sectors. Even pharma has registered a decline in jobs for Engineering, MBA students. Now, jobs will be generated outside the main sectors such as ancillary sectors and startups.
AICTE Reported, in 2016-17, more than half of MBA graduates could not get hired in campus placements. Last year, a study by employability assessment company, Aspiring Minds, claimed that 95 percent of engineers in the country were not fit for jobs.
Recently, CP Gurnani, CEO, and MD of Tech Mahindra said that 94 percent of engineering graduated were not fit for hiring, while chairman of Manipal Global Education, TV Mohandas Pai claimed that the country has 10 crore people in the 21-35 age-group with bad skills, which are unsuited for the economy.
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