IIM Lucknow Conducted the CAT 2023 exam on November 26. This year saw an increase of 30% in CAT registrations, this was the first time in the history that the CAT registrations crossed the 3 lakhs mark Last year too there was a surge in CAT aspirants. In 2022, CAT witnessed 2.55 lakh registrations from candidates, and 2.3 lakhs in 2021.
To know the reasons behind the increase in the number of MBA aspirants, the Free Press talked to a few experts.
IIM Mumbai Director Shares Views
Manoj Kumar Tiwari, Director of the Indian Institute of Management (IIM) Mumbai (formerly known as NITIE) said that there are multiple reasons for the increase in the number of applications.
According to the director, Top B-schools in India have understood the latest trends and transformed modern business management courses embedded with digital components. As a result of the new skills offered and how relevant they are to the present corporate atmosphere, the number of applicants has increased.
The director said that social media is a major reason for generating students’ interest in MBA programs. He said, “Social media encourages candidates to pursue an MBA for a prosperous future. These promotion campaigns also contribute to the surge in registration numbers.”
Students Focusing On Skill-Based Education
FPJ also asked a few questions to Dr. Ramakrishna Velamuri, Dean of the School of Management, Mahindra University, Hyderabad.
The Dean of the Private University in Hyderabad emphasized on economy and said that with economic uncertainty students are focusing on skill-based education.
He said, “The recent layoffs by major tech firms and widespread cuts in startups have inclined individuals towards skill-based and holistic education, with the pursuit of an MBA offering a valuable option.
Increased Acceptance Of MBA As A Career Among Youngsters
While talking to the Admissions Chairperson at IMT Ghaziabad, Dr Harvinder Singh said that the increase can be attributed to a multitude of reasons. Citing examples he said, “Increased acceptance of MBA as a career among youngsters, aspiration among entry-level technically qualified employees to upskill themselves and enter the managerial cadre, increased supply of seats in B-schools accepting CAT scores, and increased visibility of CAT and a wider CAT test center network.”