Call it the next phase of commercialising MBA education, students are happy nonetheless. NCR-based Sunstone Eduversity has recently come up with a 'pay after placement' MBA programme under which one only pays the fee after he/she is able to get placement.
The programme aims at reducing the financial risks and encourages the right candidates to pursue MBA.
"It’s not that our industry doesn’t create jobs for young management graduates. It’s the skill gap that obstructs their career path. This fee arrangement makes career as the final outcome, rather than a paper degree," said Rajul Garg, Founder and Director of Sunstone Eduversity, in a press statement.
The programme is currently available at Sunstone’s four campuses in Greater Noida and Ghaziabad. The Eduversity has five campuses in Delhi NCR and offers PGDM, BBA, and BTech programmes.
"Sunstone has received tremendous response with more than 200 candidates applying in a week. These are good candidates who were not able to take up MBA due to financial risks and mistrust," according to Nituj Gupta, Managing Director of Sunstone.
"It certainly increases our risks but at least we are able to provide the right confidence to our students."
A lot of concerns have been raised about the Indian MBA education system primarily due to low employability of MBA graduates. Around 4 lakh students graduate every year from regular MBA programmes, of which 3 lakh are not employable because they lack the skills needed by industry.