B-school students flock to edtechs in bid to up-skill amid job market uncertainty

In the last 3-6 months, upGrad has observed about 500 new enrollments every month for the MBA programs.

Faced with the dire consequences of changing macroeconomic conditions, management students have been flocking to edtech to add to their skills and increase their chances of securing full-time jobs as companies turn a little cautious about campus hiring.

The flux in the job market has induced a sense of urgency among management aspirants to equip themselves with competitive advantages. As traditional recruitment patterns witness a slowdown, edtech platforms are emerging as beacons of hope for students seeking to fortify their resumes and increase their chances of securing full-time employment.

In the last three to six months, upGrad has observed about 500 new enrollments every month for the MBA programmes. The total number of women enrolling for long-format courses rose to 40 percent in 2023, with Digital Marketing, HR, and Data Science being their top picks.

Similarly, GetWork saw a 13 percent increase in MBA student enrollments over the past three-six months from those who were not able to secure placements.

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These edtechs have students from a wide range of business schools including premier institutions such as the Indian Institute of Management (IIM), and Indian School of Business (ISB), among others.

Moneycontrol  had reported earlier in January how some of the premier IIMs, which were used to reaching 100 percent placements in just two days, were struggling for the last two months to close summer hirings.

“Upskilling is often seen as a counter-cyclical phenomenon during economic downturns, encouraging professionals and freshers to learn new skills to stay relevant. We operate in a super-age of innovation where job specifications are evolving at a faster pace than ever before,” said Mayank Kumar, Co-founder and MD of upGrad.

Tech-led courses in demand

Of the learners who enrolled with Great Learning after acquiring their MBA degrees in the last six months, 44 percent enrolled for the Artificial Intelligence (AI) and Machine Learning (ML) programmes and 21 percent for programmes in Data Science.

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“Technical skills such as Data Science and AI/ML complement the strategic and managerial skills gained through an MBA. They can leverage data analytics to identify trends, predict outcomes, and develop innovative solutions that drive business success. Hence, upskilling serves as a proactive strategy to ensure continued professional growth and relevance in today's dynamic job market, even after completing an MBA,” said Hari Krishnan Nair, Co-Founder of Great Learning.

Interestingly, the inclination towards tech is across platforms. At Getwork, data analytics and data science courses are the most popular, making up 63 percent of pursuits.

“These courses offer promising career paths due to the high demand for analytical talent. Meanwhile, 21 percent are opting for product management courses, attracted by significant package hikes. Additionally, 16 percent are choosing artificial intelligence courses due to increasing demand in this field,” said Rahul Veerwal, Founder and CEO of GetWork.