Of education and jobs and you know … money !

We had our final practical exams today – which went relatively well.
The external examiner, apart from being a jovial fellow, turned out to be pretty much entertaining also …
Anyways, I did finish my program (assignment we are supposed to code in 3 hours) well before time and was left musing on some issues, which finally resulted in this post.
A recent news article flashed through my memory – one which in 4 ISB (Indian School of Business) graduates were offered jobs which paid salaries of approximately Rs. 10,400,000 – the highest that any MBA graduate from the country.
Now, ignoring the fact, that the salaries are actually in US Dollars (USD 233,800 to be precise) and these students will probably be abroad (where it is much more expensive to live), the salaries ARE pretty high. More so, when you are starting in a company.
Now comparing this to the salaries that we (Engineering graduates) from the Pune University make – which is more or less in the range of Rs. 200,000 to Rs. 450,000, it would take us approximate 20 years to make the same amount that one of these ISB guys make in 1 year.
Which in more harsh and simpler terms means that one of these 4 guys will make more in 15 days of working compared to what we guys will make in a year of working.
A pretty compelling reason to do an MBA, ain’t it?
However, IIM-Ahemdabad, which is considered one of the toughest schools in the world to get into and which is also one of the better IIMs in the country, has a national average package of Rs. 1,000,000 (10 lacs) and their highest Indian offer was Rs. 3,400,000 (34 lacs). I’m not aware of their international packages.
Makes you do some thinking …
Doing some more research on this subject, brought me to this very interesting artice by the Hindustan Times – titled : The Jobs Paradox
A quote from the article states:

They are qualified engineers and MBAs, but they have no jobs. India had more than 60,000 unemployed graduate engineers at last count, according to government figures. No official figure for unemployed MBAs has been published yet.
And yet, India also has a shortage of skilled technical manpower. The country will face a shortfall of 1,50,000 IT engineers in 2010, says a Nasscom-McKinsey report released four months ago.

The article further goes to say that though India produces a LOT of Engineers and other graduates – many of them are “unemployable”.
The only standard body governing technical education in the country is the AICTE – which sadly cannot maintain standards … Most of the institutes certified by them are not upto the standards at all – and it does not take an expert to notice this.
Another problem (which the article also states) that there is big shortage of good teachers. The main reason being that teachers don’t draw a big salary in most of the colleges. Freshly placed students tend to make as much as the teachers – if not more … one reason, why teaching is not such a lucrative option and why there is such a dearth of good teachers.
Even in my college, though we always tend to get good overall results every year, barring a few teachers, others don’t make a case for joining the college.
This is the case with most of the colleges around Pune – even the so called better colleges.
A good teacher is recognised instantly and respected by all the students – so we do get to hear accounts of “good” teachers – but these have been too far and few …
This finally brings us back to the question of how the results tend to be good irrespective of the teachers?
There are two points to the answer – students who are sincere and/or brilliant from the beginning who carry themselves through and a very redundant and predictable education system – the latter of which I’ll leave for discussion on a different article.
Hence, this creates a catch 22 situation.
Colleges, in order to do well, need to pick good students from the starting — and good students only go to colleges that are doing well.
The case with our college is slightly different – its more of a proximity thing.
Our college is located in the heart of the city – and thus is more or less close to every corner of the city. ( The average time of getting to college is about 15 mins)
This draws more or less the good students from around who probably don’t want to spend their lives travelling to colleges – and hence, the college is doing well.
But at the end of the day, all the colleges are failing to produce engineers which companies can use – so much, that the companies, given up all hope of finding good people, have started picking up good students early (before graduation) and training them on weekends – so that, by the time they pass out, they can start working immediately.
Then there is the question of reservation – and with it now poised to reach 50%, I pity the students and more so the companies – because finding good talent will become even more difficult.
One of the recruiters who came to our college mentioned that they prefer “a particular college in the city” over others – because they have no – or very low reservation policies.
Hence, the probability of finding brilliant students is much more there.
Other colleges do have brilliant students, but they are more difficult to locate and generally lost because of such reservation policies.
Something for everone to ponder about …
By the way, do give the original article a read. Very worth it …
Links here : The Jobs Paradox – Hindustan Times

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Comments (7)

  • Rishi Agarwal 14 years ago Reply

    ok, honestly, i understood what u r trying to say only after reading that link..!!

    anyways, me and abhi today were talking about the same thing.. I was saying that within 2 years , our college will have a reputation of that like PDEA Hadapsar, Shahu or Moze !! thats coz there is no staff or faculty in our college.. atleast it was decent 2 years back,now it is totally out of hand… Teachers come only for 6 months and leave the job, in search of better jobs.

    We need qualified, devoted profs. , not someone who come just for a ” job “.Infrastructure and Faculty are the 2 most imp. things for any college.

    About the IIM thing, everyone knows it was a big hype, i think the IIM people overdid it .

  • Id it is 14 years ago Reply

    Incidentally, the CEO of Exxon Mobile makes $197,000 A DAY!!!
    Prepostrous! especially in a world where there are millions craving for a morsel to put in their mouth!

  • Yuvi Panda 14 years ago Reply

    Yikes. You hit the nail on the head dude. Things like these have lead to the explosion of WTFs on both TheDailyWTF and most Forums : You’ve just got to have a look at any forum to find a really stupid question asked in a really arrogant way, mostly by Indians.

    And, most people who get into Programming and CS do so because they want a Job. When you tell someone about a new language or framework and they ask what’s the market for it, you know they’re doomed….

    Atleast, our School has a big percentage of good teachers, though there are some rotten apples who think that Students = Brainless Morons. Hopefully, I could get into a good college, but from your posts, it seems like Colleges don’t matter anyway….

    And, Do your Exams well;)

  • Saurabh 14 years ago Reply

    — Above comment deleted due to a major typo — :p
    Posting again below

    Schools generally tend to have good teachers. When I was in school, even upto the 12th grade, we had awesome teachers. This is probably because teachers of that era (they were all pretty old when I was studying) were more dedicated and more for the cause of education than the money behind it (which is not so much anyways)

    As for the people lining up for a CS degree just because of the jobs, I have made my peace with it. It has been the trend since ages …
    As a matter of fact, if you were a good friend or a relative, I’d advise you to get a CS degree, as thats a sure shot way of getting a good job within the city (even if you maintained a moderate grades)

    As for whether colleges matter – they do to quite an extent if you want to get a job in the end. As good companies go to good colleges.
    Companies like Google and Microsoft don’t come to any colleges in Pune (except 1 I think)

  • Rishi Agarwal 14 years ago Reply

    and one more thing.. even if there is some open house interview of some good company for college pass outs, they still invite students only from selected colleges.

  • Ajay 14 years ago Reply

    Impressive article i must say. Spare time well utilised. Quite thought provoking.
    so why don’t you join the education sector and revolutionise it ? They need people like you. What say ?

  • Saurabh 14 years ago Reply

    Thanks …

    Joining the education sectore is probably the last thing on my mind right now …

    In a recent “Walk the Talk” Article, Rajat Gupta, who is the chairman of the Indian School of Business said that we need 10 times more IITs and IIMs … so we have more world class education centers …

    (IISc Bangalore is 290 something, and 2 IITs are 400 somethings in the top 500 schools in the world)

    Article here : http://indianexpress.com/story/2621.html

    Thats what we actually want right now … (and also to sack Arjun Singh), but there is nothing I can do either places right now … sooo …

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