Last Updated on May 27, 2016 at 8:54 am
‘Price discovery’ refers to the way in which the market arrives at a price for a commodity driven by supply and demand. The government is gradually moving towards a regime of 100% price discovery. That is, interests rates will be marked to market. I think it is high time we promote price discovery of our college graduates and get rid of campus placements.
What is the purpose of education? In my opinion, ‘prepare youngsters to face life independently’.
‘Is our educational trying to do this?’ is eminently debatable. I would like to focus on one aspect of the system and argue (you are welcome to disagree) that campus placements do more harm than good.
Campus Placements Promote Irreverence
The purpose of education is not to get a job! That is a one-way ticket to unhappiness. Campus placements encourage kids to apply for jobs which have nothing whatsoever to do with the training that they have received. Nothing wrong with that, but I think they should be seeking that out on their own dime/time.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! 🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
The placement process is a nice way for a corporate giant looking for a cheap workforce with a namesake degree. Not only does it represent spoonfeeding, it also promotes a sense of disrespect for the educational stream chosen and the overall process itself.
‘Let us not bother trying to do well. XYZ is the requirements for placement. So as long as that target is met, let us coast along’. This is the gyan that seniors pass on to juniors. Placements take away the carrot to excel.
My point is that campus placement is at the forefront of choosing colleges and education streams! Then there are firms who hire electrical engineers and civil engineers not for their training as engineers but for their software skills. I find it bizarre that the very institute which imparted such training encourages students to chuck it within their very walls!!
Campus Placements promote hand holding
It is the duty of an educational institute to encourage independence. They should be urging to students to do their own research, knock on doors and seek for employment. It is amusing that institutions do very little to help students ‘placed’ in places of higher education, but are happy to get them a job! In fact, institutions sell themselves by their ability to get students placed!
I routinely see undergraduates (science or engineering) and even postgraduates who are diffident and not quite sure if they have what it takes.
It is the crying baby that gets the milk. We should encourage to recognise hunger and crying, instead of providing room service!
The skipped economy
A few years back I heard a fantastic talk by a former dean of IITM. He detailed how it is natural for countries to progress from an agricultural economy to an industrial economy and to a service economy. He lamented that we skipped the industrial economy altogether and jumped from being an agricultural economy to a service economy.
When the economy opened up in the early 90s (because we were forced to), we missed a chance to become an industrial power. Had we done that, we would have had actual engineers instead of those with just an engineering degree. Industrialist would have been forced to spend money on research which would have employed scientists and given the engineers new ways to apply stuff. Our children who go abroad for an MS would be employable here. Instead, we all know what happened. We started servicing other people’s problems. They cough and we catch a fever.
Let us stop and think how much of these placements are for the service industry. We have gone and found ourselves a cushy spot, much to the delight of employers and abetted by institutions.
Yes, we have a freedom to work where we want, but that freedom should be earned by independent effort and by price discovery in the open market.
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)