Business schools are expensive. The cost of the most coveted two-year Post Graduate Programme (PGP) course at the Indian Institute of Management, Ahmedabad, currently stands at Rs 22 lakh ($31,900). IIM Bangalore and IIM Calcutta cost marginally less. And the course fees at IIMs also go up almost every year in line with inflation. Compared with private institutions, though, this is positively cheap.
Going beyond numbers
Jobs over careers: India’s premier B-schools keep making the wrong choice
The placement process at B-schools in India is broken. It is also reflective of the larger education system, which needs an urgent overhaul
With society and students focusing on jobs and salary prospects, B-schools—which were supposed to create intellectual capital—have become glorified placement agencies
Companies are equally complicit. Most of them do not empower hiring teams to spend quality time engaging with promising candidates
Nobody wants to change the system. Students have loans to pay, B-schools need to stay competitive and companies have hiring targets to meet
In the scramble for jobs, money, and placement numbers, education is the ultimate loser. Students are incentivised to take high-scoring classes rather than challenging ones