Management colleges – quality vs. quantity

There is no dearth of management colleges in India, but how many of them offer quality education to students? The answer is ‘a few’. Some of the management colleges that offer quality education are the Indian Institutes of Management (IIMs), the Indian School of Business (ISB), Symbiosis Institute of Business Management and SP Jain Institute of Management Studies. These colleges have stringent admission criteria, state-of-the-art infrastructure, faculty members with international experience, and competitive curriculum. And students who graduate from such colleges have the opportunity to work in top multi-national corporations and hold high positions.

However, not all aspiring management students get into top colleges. These students, in an attempt to get into any management job, pursue management education from colleges that are not reputed. Candidates who graduate from such schools become employees of local firms that are not particular about the quality of management education received by the candidate but are more concerned about getting any candidate with a management certificate. There is a huge demand for candidates with management education, which is why the number of management colleges in the country is on the rise.

The mindset of Indians has to change. People should be more focused on getting quality education instead of getting a random management certificate to gain entry into any management job. For this to happen, employers need to change the selection criteria for candidates. Instead of only looking at a management degree, employers should assess the skill-set and knowledge of candidates. When there is a demand for students with management education of high quality, the supply will take its shape accordingly.

There is a lack of good quality management colleges in India, which is why we see many students going abroad to pursue management education. Management colleges such as the Wharton School of the University of Pennsylvania, MIT Sloan School of Management, INSEAD and the Kellogg School of Management admit high-performing students, who, upon graduation, are recruited by top organisations in the world.

The United States, the United Kingdom, Singapore and Hong Kong may not have as many management colleges as India, but they have colleges that provide quality education, which is essential for career growth. The Indian government should regulate management schools in the country and ensure that they provide competitive courses that will enhance economic growth of the country. Only when there is a demand for quality education, will there be a supply of high-performing students too.