The myth that an MBA degree guarantees a fat pay packege has been punctured by a recent survey. The average annual salary drawn by 40% students during campus placements is less than Rs 3 lakh. Only 1% of the 4,500 institutes across the country are able to secure jobs with an annual salary of Rs 9 lakh plus during placements.
The MBA dream, says the CRISIL report, is fading fast as students become more aware of the lack of quality, infrastructure and falling returns. Around 37% B-schools are at the bottom, with many failing to place even a single student. The largest chunk — around 52% — falls in the Tier-III category with an average annual salary of Rs 3-5 lakh but here too, just 60-80% students are lucky to get jobs during campus placements.