World
Studies reveal that nearly 25% of graduates from some of the world's most prestigious universities remain unemployed. This includes graduates from renowned institutions such as Harvard, Stanford, and Wharton, where only 75% of MBA graduates manage to secure jobs. The remaining 25% face months of unemployment despite holding such prestigious degrees. This raises critical questions about the long-held belief that studying at such elite universities guarantees career success.
So, why are graduates from these top institutions, with globally recognized degrees, struggling to find employment? Several factors contribute to this trend:
Lack of Demand in the Tech Industry:
Many tech companies are no longer as enthusiastic about hiring MBA graduates.
High Salary Expectations:
Graduates from these universities often demand exorbitant salary packages for their first job, which discourages industries from hiring them. Graduates who are willing to settle for lower packages reportedly find jobs more easily.
Impact of Artificial Intelligence:
The rise of AI has also been cited as a factor, reshaping the job market and reducing opportunities in certain sectors.
Another critical factor is the skills gap. Despite earning degrees from prestigious institutions, many graduates lack the skills required by the industry. A similar issue has been observed in India, where even graduates from IITs faced challenges securing jobs due to insufficient skills. This has sparked concerns about whether degrees alone are sufficient to guarantee employment.
The focus is shifting from degrees to skills, as companies now prioritize the ability to deliver results over the name of the university on a graduate's CV. For graduates, this highlights the importance of acquiring practical, industry-relevant skills alongside their academic achievements.
The days of relying solely on degrees for employment are clearly over, and even the world’s most reputed universities are not immune to this shift.
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