We hear a lot of news about heavy job cuts or low salary issues with the most demanded career option in India i.e. MBA & Engineering. A few years back they were one of the most reputed career options. The admission process was quite tough and the level of education in such courses was too good, later on, it became a big business opportunity for colleges and universities. And this directly affected the lives of students that even after studying from the best colleges they are not willing to earn much or are not to that position which they want or are capable of.
But today 70-80% of students from MBA and Engineering students are earning less than a cart operator or labor! yes, it’s the bitter truth and we have to accept this. In tier, 2/3 cities students are ready to work even in Rs.6000-8000 per month’s salary after investing huge money and 2/4 years.
Why Is This Happening?
A simple concept of demand and supply applies here. The demand for these courses is too much so the fee was is in comparison to other courses and supply is 8-10 X higher than the demand so the salaries are becoming less day by day as other people are ready to work in less than what you expect.
Why are Some Students ready to work at a low salary?
Maximum students are arranging the fee by personal/educational loans and they have to pay it off in any condition as soon as possible, hence they are ready to work in a low salary too. And to survive in this world with lots of inflation they are forced to do so.
Why is This Culture Ruining Life Of So Many Students?
We all know that education is an investment and made of good returns but the return is good/bad is based on numerical return which is having a certain numerical investment, again it’s a simple cost of ROI (Return On Investment) for example you paid 8 lakh rupees for your MBA course including Fee and your living and other basic cost and invested two years. Now you are earning 8000 rs per month which means Rs 96000 Per Year. If you keep 8 lakh rupees in a bank FD you’ll get approx Rs 64000 per annum which means you are actually earning Rs 32000, which means less than 3000 rs per month by putting your 2400 hrs a year. Shocked?
Let me give you one more shock, with the above calculation you are actually earning 13.33 rs per hour and this is the cost of a computer which cybercafe owners used to charge before few years where the cost of the computer was just 15000-20000 rs per unit and you have invested 8 lakh rupees,
Want To Cry? Wait I have one more calculation
If you were working with a basic job of 6000-8000 for those two years, you would have approx 2 lakh rupees in your bank account isn’t but there is no such money.
Is that mean MBA & Engineering Courses Are Useless?
NO, A big no, they are not useless at all the only thing is are you in that top 20%? if yes. It’s not useless at all. But if you dint got selected in the top 20% of colleges or you are not able to fight with that top 20% yes it can become useless for you. Or if you are selected but have not started earning that much then it is useless.
Now What?
Skill Based Education, Why PM Shri Narendra Modi is struggling to develop skill India campaign is a simple reason, in developed countries, people pursue their passion for the profession and what we do?
Hum Summer Camp Me Jaate Hai
This is the only solution, there are thousands of professions available in India where the fee is less than 1 lakh rupees and the demand is too good in the market hence they are getting paid a good amount and this is the only solution, come out from the sheep march and explore the opportunities, what is the demand and why it is, grab the opportunity and get succeed. No one is going to give you a job because you have XYZ degree from ABC college or you need a job, you’ll get a job/business opportunity only if you give them a reason to hire you / take services from you and that will be only possible if you can justify yourself with the current demand.
Understand The Fastest Changing The World And The Needs And Upgrade Yourself from Time To Time, Else Get Ready For A Struggling Life for LIFETIME.
– Varun Surana
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