The MBA is no longer a passport to a successful career. Almost two-thirds of graduates passing out every year - barring the handful of top B-schools, including the IIMs - are struggling to find meaningful employment, according to multiple estimates. This was reported by the Economic Times. There is plenty of anecdotal evidence to back this up. Even the IIMs took longer than usual to place their entire batch this year.
Less than 4 lakh students sat for national-level B-School entrance tests (MAT, CAT, XAT, CMAT etc) in 2012-13, compared with a 2008-09 peak of 5 lakh plus, according to AIMA. It also said some estimates suggest that 400-odd startup B-Schools have shut shop during the past year or so.
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