Mumbai. Following the feedback from alumni, especially those who passed out of the respective campuses around 7-8 years ago, many MBA colleges have decided to introduce campus activities that will help the students learn management of married life.
The decision was taken after many ex-students confirmed that while they could successfully manage big teams and big budgets at various companies, most of them struggled when it came to managing their spouses and domestic budget.
“The boys were especially bad at this,” Dr. Sharad Gharwala, Director of a leading B-School in Mumbai confirmed, “Not that the girls came out with flying colors, but the boys accepted that most of them were making a mess of their married life.”
Dr. Gharwala clarified that this “mess” was mostly related to financial management rather than relationship problems.
“For example, one of our ex students had to sell off his car to meet EMIs of his under construction house. He relocated to a residence near his office to cut down on public travel. Finally he sold off his house, moved to a cheaper rented apartment away from office, and bought a new car – all within 6 months of marriage,” the Director gave example of one such “mess”.
“And that’s what worries us,” Dr. Gharwala said, “Being MBA grads, they should not have faced the problem, but most of them are running out of their reserves within a couple of months of marriage.”
While MBA students are taught financial management and many of them are aware of investment products and plans, the MBA colleges have concluded that these needs to be re-taught with special focus around married life.
“We are planning to run a series of business plan competitions in the second year of the MBA course,” Dr. Gharwala revealed, “We will give them scenarios – like their monthly salaries, the hobbies and interests of their spouses, the city of residence, irritation quotient of in-laws, local restaurant charges, local school fees, etc. – and ask them to work out cash flows over a period of their married life.”
“That is when they could realize how challenging it is to run a marriage,” he explained, “They will start using theories they were taught in banking and financial management classes and realize the importance of some tools, like investment, that they otherwise think is only for class tests.”
“I think this is a good initiative,” Arvind Akela, a first year student at one of the MBA colleges told Faking News, “I hope I win a girlfriend if I make the perfect business plan.”