The most common generic answer of pursuing an MBA program is just to get a rewarding job presuming the institute as a placement agency rather than an ecosystem of nurturing skills and industry-oriented transformation. It's widely believed by these aspirants that an MBA degree is a magic pill that will automatically traverse us to the magic world of shine and success.
Because the student expectations are not realistic the deliverables of most of the tier B & C rated MBA B-schools are also virtually inflated. There MBA institutes are selling glittery dreams to the young minds riding upon their aspirations of a super successful future with virtually deceptive placements records.
According to ASSOCHAM, many B-Schools mislead students by failing to contribute skill-set to a student's career. These B-Schools excel at nothing more than giving an MBA student a theoretical information without any experiential learning.
This is just not a loss to the students by spending a lot of money on these B-School but also a serious national loss of wealth and energy. Moreover, it is quite disheartening to see how the regulatory bodies like AICTE, UGC, AIU etc are silent on this whole context.
Here are some of the points placed for the management students to be aware of thereby preventing themselves from being fooled by such B-Schools.
Factors that Contribute to Inflated Placements
Inflated placements are observed as a result of numerous variables, both internal and external. Some of the factors are as follows -
• Competition Among B-Schools
• Avoid Reputation Damage
• Retain Ranking
• Attracting a Maximum of Students
• Fear of Negative Consequences
• Encouraging financial support
• Revenue Generation
• Peer Pressure
Hidden Tactics of B-Schools to Attract MBA Aspirants
It is noteworthy that certain B Schools under Tier A and Tier B colleges, have placement records that are both factual correct but when it comes to Tier C and Tier D institutes, it is often noted that the placement figures are largely twisted with inflated figures.
Some of the key practices followed by the B-Schools to deceive students are :
1- Displaying Inflated Salary Packages
On any B-School's official website, the average and top placement are deceptive claims made solely to entice prospective students. Many of you will be surprised to know that generally the placement committee is constituted of students who are responsible to craft the final report on placement.
Placement committee is under constant pressure to show a hike in the packages depicting a year-on-year progression.
2– The false claim of 100% placements
Contrary to popular belief, not all prestigious B-schools place their 100% students. They just depict the highest salary, which is generally not a clear representation of batch performance. Its also noted that the highest placement acquired in a particular year is showcased as a sales tool for sessions to come in order to attract as many prospective MBA students as possible. Colleges hide information about un-placed students in order to preserve their good name and protect the B-School brand.
3- Showcasing Fictitious Companies
Showcasing fictitious companies to give the impression that top companies are offering high placements is another fascinating strategy used by B-Schools.
Generally, the placement reports are very superficial without the student wise placements details. A general summary is provided without the details of the placements like sectoral, functional, location highlights, salary and other key details. Alas colleges are competing to outperform one another in order to survive in this fiercely competitive market.
4- Internships Counted as Placements
Some MBA schools intentionally adopt the tactic known as "Internship as Placement," whereby they incorporate internships into their placement data in order to indicate that a larger proportion of alumni have found jobs after graduation. By doing this, MBA schools give students and their parents a virtual impression of successful placement drives.
Essential Factors to Consider When Applying to Business School
1. Go Through the Portfolio of the companies: Always check at the diversity of the companies recruiting within a management college. Try to make a list of the sector wise companies along with the profiles for which they are hiring. Make use of portals like www.glassdoor.co.in where current and former employees anonymously review companies.
2. Look for the Audited Placement Report : It is never specified in the placement report which student receives what kind of package and from which employer. The provided generalized placement cannot be regarded as accurate. In order to ensure that you don't regret having a not-so-good package offered tomorrow, you can request the college to provide you with the audited placement report thereby giving you a desired transparency.
Every student must think wisely and should not just run for the average salary instead try to relate with the specialization offered by the college.
3. Consider Other Factors: While placement reports are essential, consider other factors such as industry connections, alumni network, internships, and career services provided by the school to support student placements.
4. Review social media and Official Publications: Check the school's social media channels, official publications, and newsletters. Often, they share success stories, job placements, and other student achievements.
5. Alumni Network and Student Forums: Reach out to alumni or current students of the B-school. They may have insights and information about the school's placement track record. Online student forums or LinkedIn groups can also be helpful for gathering information.
6. Consult Team Get My University: Your work may be easier if you have a right mentor by your side. As a consultant can offer you sufficient information and assistance during your MBA journey, they play a critical role. Get My University guarantees to offer professional expertise and experience that will help students make an informed decision about which B-School best suits their needs, taking into account their budget and areas of interest.
Conclusion
Exposing the real story behind MBA placement is to empower prospective students with the information they need to make wise decisions, not to minimize the significance of an MBA. In the realm of business education, accountability and transparency are critical. Students can start their academic careers with open minds by removing the layers of exaggerated numbers and closely evaluating the reality of MBA placement.
Make a well-informed decision while selecting an MBA College with Team Get My University. Learn the tricks as how to request and verify transparent placement data from MBA Colleges by our experts.
As the reality of placement can be far more complex than what saturated brochures and marketing materials portray, prospective students should approach the decision to obtain an MBA with a critical eye. People can make better decisions that fit their expectations and career aspirations by asking business schools to be more transparent and accountable.
Thus, if you intend to pursue an MBA?
Get help from Team GMU to determine which college is a right fit for you.