A Master of Business Administration degree is thought to be a guarantee of a steady, well-paying position. There is a growing trend of job attrition among MBA professionals. As per Deloitte Touche Tohmatsu India LLP’s (Deloitte India) most recent Campus Workforce Trends 2024 report, the nation’s MBA graduate turnover rate is rising quickly. According to the most recent survey, the attrition rates for first-time students, college students, and those who leave within a year or two are 21%, 26%, and 28%, respectively. According to the report, there is cause for concern regarding the high percentage of top university students leaving entry-level positions.
According to recent research, students from schools in the tier-2 and tier-3 categories attrition rates are marginally lower, at 19 per cent, 21% per cent and 15 per cent, respectively. According to Nilesh Gupta, director of Deloitte India, the findings of this year’s report indicate that companies had to reconsider their retention tactics, particularly concerning MBA graduates. He asserted that to retain top people in a cutthroat market, creative techniques are now required and not optional.
Call for more hiring transparency
Nilesh Gupta cited research indicating that four out of five executives would rather base recruiting decisions on talent, advancement, and pay than on experience or connections, emphasising the need to lessen bias and promote transparency. He asserted that for pupils to thrive in the digital age, educational institutions must provide them with a broad range of abilities.
Without MBA graduates, work cannot be completed.
According to the report, 70 per cent of organisations continue to seek out MBA graduates despite the high turnover rate among this group of professionals, demonstrating the significance of MBA graduates to their company performance. Data from almost 500 campuses were examined and the report also reveals a 10% and 26% decrease in the number of internship and pre-placement offers made by companies.
The best cities for MBA grads are Bangalore, Mumbai, and Delhi.
According to the survey, students seeking management degrees most frequently choose Bengaluru, Delhi, and Mumbai. However, the top cities of choice for engineering students are Bengaluru, Hyderabad, and Chennai.
In the areas of management, engineering, law, pharmacy, hotel management, and professional degrees (CA/CS), 508 campuses and 194 organisations were included in the Deloitte survey. The National Institutional Ranking Framework (NIRF) rankings served as the basis for classifying institutes according to tiers.
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