By M.C. Shahramian | 01 October, 2018 09:22:17A new report by a global consulting firm says that the country’s universities and colleges have been the worst performing among the developed world for getting graduates with a post-secondary degree.
The report, titled ‘Universities and Colleges: Lessons to be Learned’, was published by global consultancy McKinsey and Company in a report entitled ‘Education in India’ and was released on Tuesday.
According to the report, the world’s top-ranked universities and college in terms of post-graduation earnings are Delhi University (7,857%), Jawaharlal Nehru University (6,955%), IIM-Delhi (6.5 million) and Jawaharshi University of Management (6 million).
In India, however, only the top five are worth an average of over 10 million.
The report also found that India is the most expensive country to obtain a postgraduate degree, with the average cost of an undergraduate degree in India being around $45,000.
The average cost for a bachelor’s degree in the country is about $50,000, McKinsey said.
According, to the research firm, the cost of obtaining a bachelor degree in China was $51,000 and in India it is $40,000 for an undergraduate.
The cost of getting a master’s degree is about Rs 1.75 lakh.
India is not the only country where postgraduate education is not affordable.
A survey by McKinsey found that almost 30% of students at Indian universities and institutes had no option but to earn a degree in order to continue their education.
“There are many students who have chosen to remain in the labour market, which limits their options for a postgraduation career.
But a lot of them will find a job with better pay and benefits in India,” the report added.
While a large number of Indian students have been finding jobs in their field, they are being left behind by the country as a whole.
McKinsey also found a significant drop in the number of postgraduate graduates, from 10.2 million in 2012 to 9.5 percent in 2017.
“This decline in postgraduates reflects both the challenges and opportunities that postgraduate students face and the challenges they are expected to face.
Many are still not confident about the job market or in their career options.
This means that many of them have turned to trade, migration or other forms of short-term work in order for them to support themselves during the postgraduations,” the study added.”
These challenges can be partially addressed by creating incentives for students to take up jobs outside the labour force.
For instance, employers should provide financial incentives to students to leave the labour-force for a job.
This can be done through a ‘permanent job offer’.
However, it will be difficult to create incentives that are flexible and flexible enough to allow postgraduated students to make the transition back to employment,” McKinsey added.