Young Indians, do the math: You spend between Rs 4 lakh and Rs 8-12 lakh for a degree/diploma from a tier-3 or tier-4 MBA or engineering institute, you get a salary of around Rs 40,000 per month on graduation. Or, you spend under Rs 1 lakh for a specialised course at a vocational training institute, and get a salary of Rs 60,000 a month.
Would you still opt for a low-value MBA or engineering course over being an in-demand electrician or lab technician or a gemologist? Many still would. The white collar fetish is skewing India’s job market, shows an exclusive TeamLease survey for ET.
The survey has many data points (see graphic). For example, a gemologist with five years of experience earns close to Rs 60,000 a month versus an engineer or MBA graduate from non-top tier college, who with similar experience, earns a little over Rs 40,000 pm. A lab technician, a licensed electrician, visual merchandiser, or a fashion designer takes home near about Rs 60,000 a month.
The survey is based on TeamLease’s temp salary database for 2016, 2017, 2018 and third-party job portal salary databases. It compared salaries of skilled workers from recognised vocational training institutes with salaries of engineers and MBAs from institutions ranked outside the top 50.
Source : Economic Times