The impact is being felt in the ongoing Icet counselling for students to fill management seats, with many of them shying away from taking admissions in management colleges during counselling. Experts said that the current economic downturn is the reason for poor placements and lower salaries.
Management institutes had boomed in the state between 2004 and 2009 with good placements in corporate, financial, banking and allied sectors. The average salary had increased to Rs 30,000 per month in 2009, which has been gradually coming down since then.
The average salary came down to Rs 25,000 in 2010 and 2011 and then to Rs 20,000 in 2012. And in the on-going campus placement drives, several companies are offering Rs 15,000 per month. The downturn has also forced as many as 170 colleges to drop management courses this year.
While there were 1.11 lakh MBA seats in 1007 colleges last year, the seats came down to 95,535 in 837 colleges this year. In the ongoing Icet counselling, 89,595 seats are on offer in 797 management colleges.
Though students from ranks 1 to 60,000 were called, only 27,611 turned up for counselling till September 12. Officials are worried as only about 30,000 out of 89,000 seats will be filled this year.
“Barring a few reputed colleges, there are no takers for MBA seats in majority of the colleges. This is because of poor placements and lower salaries being offered to students after completion of the course. Many colleges will down shutters by next year if the situation continues,” said Ramesh Nimmatoori, chairman, Consortium of Professional Colleges Managements Association.
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