How To Become A Financial Controller
If there’s one career field that will always be attractive to MBAs, it’s a career in finance, which why almost every top MBA program offers a finance concentration. In 2015, Harvard and Stanford each sent 31 percent of their MBA graduates into finance. And one of the most popular jobs in the field for an MBA graduate is a Financial Controller.
Over 90% of India’s MBA graduates are “unemployable,” according to report
The Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with Ernst & Young has released a damning report about the current state of affairs regarding Indian MBA and engineering graduates.
The Higher Education Summit report states that nearly 93 percent of Indian MBA grads are “unemployable.” That was also true for engineering grads, at nearly 80 percent.
The greatest deviation in why so many recent Indian graduates may not be ready for careers in MBA and engineering is a pronounced skill-gap, according to the report. Many of the six million annual graduating students in the fields earn degrees from a wide-array of institutions, some of which can be considered significantly more substantial than others as well.
“According to the observations made in the report, the outdated curriculum being taught to students adds up to the skill-gap,” writes DNAIndia. “Inadequate infrastructure and poor quality of faculty, combined with old delivery platforms, make it difficult to equip students with relevant skills, it adds.”
In addition to the issues of teaching and infrastructure, another problem with recent MBA and engineering grads may be the excessive saturation of institutions which award the degrees in the country.
According to Sunaina Mattoo Khanna, chief people officer and head of transformation at Bajaj Capital, “The numbers are quite alarming and the credit for this goes to all the local institutes which have mushroomed in every nook and corner of India, certifying students as MBAs and engineers. It hardly matters what degree people have in hand but the point that matters is that they have to be ‘employable’ and future trainable.”
“We ourselves are surprised that many candidates with MBA degrees from these small institutes fail miserably in general aptitude or IQ tests,” Khanna continues. “Even questions like what are the highest slabs of tax etc. are not known to them. Other factors include, students who have a vision of self-employment and remain unemployed for a longer time because of rising capital, discussing business plans etc.”
While the figures are, in a word, dire, there is hope that schools are beginning to more properly diagnose the issues now.
BML Munjal University in Kapariwas has a Centre Of Excellence that teaches students invaluable soft-skills, which are vital in overcoming hurdles in the business world.
Read the entire report at the official FICCI website.
