Danishmand is right when he says, "There is no over supply of
quality business school graduates." The outgoing graduates of
leading business schools are offered jobs before they pass out.
Employers select graduates depending on their needs. Some of the jobs
demand certain traits, present in graduates from only selected business
schools. Therefore, there is a wide gap between the salary being paid to
graduates from various schools.
This clearly indicates that business schools do not
follow universal selection criteria and curriculum. The quality of
faculty and infrastructure is not similar. Therefore, if the inputs are
different the finished product can not be identical. The mushroom growth
of business schools may offer an opportunity to students to get an MBA
degree, but hardly helps in securing a decent job and comparable
This situation tends to give an impression that there
is an over supply of graduates from business schools.
It was good that the government allowed establishment
of a large number of universities in the private sector. However, the
absence of regular appraisal of following the charter allowed them to
charge higher fees and ignore the objective of their creation. Students
and their parents complain that despite paying a fabulous fees the job
assurance is not there. For this they must accept the blame. Do they
make any effort to find out the details about the business school they
wish to join?
One tends to agree that an MBA degree is considered a
symbol. They very proudly say that son or daughter is an MBA. Some of
the well connected and affluent also succeed in securing jobs for their
son or daughter in a blue chip company. However, despite getting a job
such graduates have to live on the crutches of their family for
promotion. The number of such lucky persons is very limited. The
remuneration of a fresh graduate range from Rs 3,500 to Rs 15,000. It is
believed that now employers consider MBAs from certain business schools,
a little better than an ordinary B. Com.
A large number of graduates from Institute of
Business Administration (IBA) hold top positions in local blue chip
companies, MNCs and abroad. This demonstrates that IBA has been able to
beat the challenge. The first preference of a number of admission
seekers in business schools is still IBA or Lahore University of
Management Sciences (LUMS). The reason being their contemporary
curriculum, dedicated faculty and above all an environment which
encourage students to spend more time towards acquiring knowledge, no
doubt the sole attraction remains better job opportunities and
In the absence of any financial support from the
government and employers business schools have been forced to charge
fabulously high tuition fees. The society has to address this issue. It
is eye opener that an institution like Harvard mobilized over US$ 300
million last year, despite enjoying millions of dollars on endowment
fund. It is believed that the sole objective of fund raising was to
ensure better remuneration for teaching staff and improving
infrastructure but a key objective was to increase the number and amount
being paid as scholarships. A larger number of scholarships can help
even poor but outstanding performers to study at the most expensive
institution. The local business community is the largest beneficiary of
graduates of local business schools. It should discharge its
responsibility towards these institutions by contributing large sums.
This is not an expense. It is an investment to secure better future for
The government has changed the name of University
Grants Commission and assigned a new mandate. It is expected that the
new commission will ensure implementation of the charters. During the
last decade there has been a mushroom growth of private sector
universities. A number of these universities charge fabulous fees and
money minting seems to be the main objective. They may charge any amount
but should deliver quality education and provide scholarships to
PAGE has been
emphasizing, over the years, the need for improving the quality of
faculty and making curriculum more related to real life in Pakistan.
Foreign books may be good but unless the outgoing graduates are familiar
with the way business is done in Pakistan, they will continue to find it
difficult to use book knowledge in real life.
Last but not the least, Pakistani business schools
are still using mostly foreign case studies. Since the leading business
schools proudly talk about their emphasis on research, they must also
develop indigenous case studies. The local business entities should help
the business schools in developing case studies.