Kapil Bhatia, a software engineer at a multinational company, is not sure what’s in store for him next month. The 23-year-old won’t be surprised if he’s handed the pink slip at the month-end, when he is due to finish his current project.
But he doesn’t have the time to brood. He’s preparing for the common entrance test (CET) for B-schools all over the state, to be held on February 15. “The IT industry is very volatile right now,” he said. “So I’ve decided to give the CET to try and get in to a good B-school. Market conditions are sure to improve in two years, by the time I finish my MBA.”
Companies are trimming their staff and cutting back on hiring. Many professionals are going back to school to ride out the slump. So are fresh graduates like Jasmita Sethi, who is finishing her Bachelor of Management Studies at Jaihind College in south Mumbai. “The number of companies visiting campuses has fallen by 50 per cent from last year. On the advice of my seniors, some of whom have been laid off, I decided to do an MBA,” she said.
It's no wonder that the number of candidates enrolled for the CET for management programmes has jumped 25 per cent from last year.
Uday Salunkhe, director of Welingkar Institute of Management Studies, said there had been a 20 per cent rise in applications to his institute’s MBA programme for professionals. “Since the job market is challenging, this is the best time for professionals to hone their skills,” he said.
Enrolment in Triumphant Institute of Management Education’s coaching class for the CET has almost doubled, from 3,500 in 2008 to 6,500 this year.