The great middle class Indian dream

Gone are the days when middle class Indians, irrespective of caste or creed, collectively dreamed about their children becoming doctors or engineers. Neither the lack of fanciful imaginations nor the non-existence of scope for improvement in any other field let them revise their dreams. Suddenly, a miracle occurred in the form of globalization…

Like never before, Indians found themselves running after MBA seats for their toddlers, in the Nation’s so far unrecognized Business Schools. And now, every year around 400,000 aspirants vie for MBA seats in various IIMs and private business schools by attending highly competitive admission tests like CAT, CET and JMET in India.

It’s no more a surprise now, so far as global corporate giants queue up at the gates of Indian business schools to campus recruit young but exceptional business talents. What makes India a fertile soil for MBA holders and a promising land for the corporate world outside may better be explained in terms of the hard work Indians are able to shoulder followed by an average dollar salary that exceeds Rs.35 lacs per annum and the booming economy that India is fast becoming.
While there are 1000 plus onsite B Schools in India, the cost (Rs.2.5 to 3 lacs), physical mobility and the time (generally 3-4 years) required to complete the course are encouraging a growing population to go for online MBA, which is far less demanding and convenient to pursue. A more encouraging gesture has recently been made by the Distance Education Council when it urged IIMs to offer online degrees in a bid to eliminate geographical boundaries.
A change is evidently in sight with many globally experienced online universities entering the MBA dreams of Indians with reduced price, shorter course duration, easy availability of scholarships and the faculty having on-hands business experience from the world over. The numerous consulting and banking firms which hover over the heads of Indian MBAs may not be recognizing the value of online MBAs now, but there’s no denying even by skeptics that the mindset has already shaken.