India's MBAs Face Dismal Job Market

Business Week reports:

Students at Indian business schools are having just as hard a time as their American counterparts landing jobs after graduation, and they are facing one of the most painful recruiting seasons in years, according to a new report.

The job placement figures this year at nearly a dozen of India's top management schools—including four Indian Institute of Management campuses (IIMs)—are more dire than expected, according to the highlights of the 2009 MBA Placement Report, released on Apr. 22 by MBA Universe, an India-based Web site about business schools.

It's a sharp reversal from last spring, when Indian B-school students had what was their best recruiting season ever. This year the average salary across top tier B-schools is down 25%, wiping out the record 20%-to-22% salary gains students made last year.

It appears there's an excess supply of MBAs.