IIM Ahmedabad – Two-year MBA to get over
According to premier B-School Indian Institute of Management, IIM Ahmedabad (IIMA) Director Errol D’Souza, the two-year MBA programme is likely to be phased out in ten years as students and working professionals in a rapidly changing world will find continuing education and executive MBA programmes more useful to stay updated.
“We believe that the two-year programme will eventually be phased out. India has a young demographic. The two-year programme will therefore remain in place, but advanced markets have shifted more in favour of the one-year program. We predict that something similar will occur here in ten or so years. Although there is still time, D’Souza predicted that it would happen.
His remarks come as concerns about the usefulness of a two-year management degree in a world that is constantly changing and becoming more digital, where what is learned in a two-year programme may not be practically usable by the time the student graduates, are becoming more vocal. Applications to prestigious US institutions including Harvard Business School and The Wharton School fell by 15.4% and 13.9%, respectively, in 2022.
In agreement, D’Souza claims that during the following ten years, the two-year programme will become less significant. Spending two years in a learning management programme at an educational institution seems like a small waste of time given the rapid rate of change. He clarified that employers are also seeking for persons with employment history. “So, you want people who have worked for three to four years, have experience with organisations, and who can come in for perhaps a one-year course before continuing their education through executive education, which is another area in which we put a lot of emphasis. Then, as the world changes, you are continually improving yourself, he continued.
At IIMA, 190 companies visited the campus to recruit for the class that graduated in 2022. There were 36 companies from various industries, including technology, banking, consulting, and analytics, that hired students through the lateral procedure for those with prior job experience. BCG made the most offers overall with 47, followed by Accenture with 32. Goldman Sachs led the group of investment banks with six proposals, followed by Bank of America with four. In terms of consumer products and general management, Tata Administrative Services (TAS) made the most offers with six, followed by HUL, Mondelez, and Emaar with three apiece. Tata Consultancy Services (TCS) conspicuously led the IT consulting field with four offers.