Many many and many more people have asked me this question. Why do I not teach at Business Schools?
Well let me enumerate the reasons – not even hinting that there are no more reasons!
1. Colleges do not pay well: In Mumbai the kind of money one gets for teaching is so low that it is not worth the effort. Happily will teach a bunch of under privileged kids – FOR FREE – but refuse to teach in colleges which charge a fat fee.
2. Did 6 lectures on Life Insurance in a TOP Mumbai Western Suburb college once: The most important question was – how can one become a ‘Fund Manager’ – largely the aim was to become a Rs. 3 crore CTC guy. The efforts were not visible, none of the students wanted to do equity research, no travel, no number crunching,…was amused, and stopped teaching there.
3. Most of the students were attending for attendance and a quick reconciliation showed I was marking more people present than those who were there. Told the students will mark all PRESENT, but please do not attend if you are not interested.
4. Schools mis-sell like mad to get the students – and the same expectations I think lead to students expecting magic from the teachers.
5. Unlike some of my friends….I do not need to interact with the students to bridge the gap….anyway industry does not believe it needs training to improve its effectiveness. As long as sales keep happening, it does not matter that people selling financial products do not know the difference between equity funds and debt funds. Training at best is an optional extra.
6. One Director of an institute said ‘Price determines quality. If the customer wants a Maruti 800 why are you trying to give them a Merc? Give them a product that they need and willing to pay for….
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