In the bustling, corporate corridors of Gurugram’s DLF Cybercity, a cloud of uncertainty hangs over the brightly colored conference rooms of Masters’ Union. Once celebrated as a beacon of innovation in business education, the school now faces a formidable challenge: placing its students in jobs. What led to this downturn for an institution that dared to challenge the likes of IIMs and ISB? And more importantly, how can this serve as a lesson for both educational institutions and students alike?
A Promise Unfulfilled
Masters’ Union was born out of a bold vision—to rival the esteemed Indian Institutes of Management (IIMs) and the Indian School of Business (ISB) in both education quality and placement success. Its founder, Pratham Mittal, positioned the school as a disruptor in the B-school landscape, promising placements that could compete with the best. However, the reality has not matched the promise. In the 2023-24 batch of its flagship Post Graduate Programme (PGP) in Business and Technology Management, more than half of the students are still jobless, with only a third securing offers.
The Financial Implications
The placement success at Masters’ Union is not just about prestige; it is intricately tied to its financial model. The average cost to the company (CTC) of each year’s batch determines the tuition fees for the next cohort. This model worked initially, with students paying Rs 20 lakh each in the 2020-21 batch, which increased to Rs 29 lakh in the current year. However, with the recent slump in placements, this model is under severe strain. Without robust placements, the financial viability of the institution is at risk.
The Role of Expectations and Reality
Several factors contribute to the current predicament of Masters’ Union. One primary issue is the unrealistic expectations set by the exorbitant course prices and the dream-selling by companies. Students, enamored by flashy packages and promises of quick success, often overlook the importance of building a solid foundation of skills. This short-sightedness can be detrimental, as it shifts focus away from essential skill development and long-term career planning.
The Impact of Market Conditions
The broader market conditions also play a crucial role. The job market for MBA graduates has been challenging across the board, not just for Masters’ Union. Economic slowdowns, shifts in industry demand, and changing employer expectations have made placements difficult for many B-schools. However, the heightened expectations and high fees at Masters’ Union exacerbate the issue, making the gap between promise and reality starker.
Lessons for Educational Institutions and Students
The struggles of Masters’ Union highlight important lessons for both educational institutions and students. For schools, it is essential to balance ambition with realistic expectations and to provide transparent, achievable promises. Institutions must focus on skill development and continuous industry engagement to ensure their graduates are job-ready.
For students, the emphasis should be on building a robust foundation of skills rather than chasing high salaries. Guided Success Academy, for instance, emphasizes this approach in its courses. By focusing on long-term career success rather than short-term gains, students can better navigate the complexities of the job market.
Conclusion
The story of Masters’ Union serves as a cautionary tale. While ambition and innovation are crucial, they must be grounded in reality. Educational institutions must align their promises with market realities and prioritize skill development over flashy placements. Similarly, students must focus on long-term career growth, building a solid foundation of skills that can withstand market fluctuations. Only then can the gap between promise and reality be bridged, ensuring sustainable success for both institutions and graduates.
In reflecting on the journey of Masters’ Union, it becomes clear that the path to success in education and career is not a sprint but a marathon. Enjoying and cherishing the journey, rather than seeking quick fixes, is the key to true, enduring success.
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