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Specialised skills are killing it! MBA seen losing edge, HR News, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>The problem is not just with the long-tail institutes; even MBAs from premier IIMs were seen struggling with summer internships this year.</p>
The problem is not just with the long-tail institutes; even MBAs from premier IIMs were seen struggling with summer internships this year.

An MBA degree – regarded by many as a ticket to the corporate corridors – may just be losing its premium value in the job market.

Average monthly active job openings with MBA as minimum qualification at entry and mid-junior (0-6 years’ experience) levels dropped by 55% in 2023 versus a year ago, according to data from LinkedIn and other popular job boards put together for ET by Xpheno. This compares with a 25% decline in the overall white-collar job market in 2023.

Several company officials and HR heads ET spoke to say a classical MBA degree is losing out to the current market trend of hiring talent with specialised skills and those who come at a lesser cost. Ironically, this fall in demand for MBA degree holders comes at a time when their supply is increasing. A record 330,000 candidates from across India registered for the Common Admission Test (CAT) in 2023, a 30% increase from the previous year – a reflection of the aspirational value of the degree.

“It is undeniable that skills are the new currency,” said Rajkamal Vempati, head HR at Axis Bank. “Companies are looking at newer cohorts of skill sets. Most of the new hiring is happening in skills such as legal, cybersecurity, data analytics, and engineers,” she said.

Axis Bank’s hiring of MBAs is almost stagnant or at the same level as…


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