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Management education as a fad began spreading like wildfire when the top management colleges in India started attracting multi-national organizations offering huge remuneration to the fresh-out-of-college students. It came with a promise of greater career growth, wider horizons and a larger perspective of the business world. The need for these colleges was fuelled by the demand from the industry. Especially today, recruitment continues to rely heavily on these schools to fill jobs foreseen by the potential growth in the country due to globalization and various government reforms.
Chasing this trend and the anticipated future demand, several B-schools have sprouted in the last two decades. A large number of them, however, have found it difficult to fill complete intake capacity. Based on the list of the top ranking MBA colleges in India by Getmyuni.com a platform that connects students and colleges in India, there are about 2,986 reputable and credited MBA colleges in India; two thousand of which have empty MBA or PGDM seats. The interest of applicants is dwindling in spite of heavy spending on advertisements, seminars, education fairs, etc. because only a few of these schools truly provide the education that makes students industry ready.
For MBA colleges to survive and thrive they will have to focus on preparing their students for the workforce and for this they must actively solicit help from the ecosystem that it is providing talent too.