Is it truly a wise choice to spend hundreds of thousands of Taka to obtain a degree with limited market value, even if you graduate with a cumulative grade point average of 3.8? This significant investment might have been better made by starting a business, offering the potential benefits of an early venture. For graduates, unemployment implies that their parents' hard-earned money is wasted, and for the students, the sleepless nights before exams, as well as the exhausting hours spent in traffic commuting to and from university, yield little to no value.
Overpopulation is a primary factor hindering employment prospects in the labour market. The competition for a single job opening is fiercer than an Oscar race. Despite enrolling over 2,000 students each semester, prestigious institutions like North South University and BRAC University cannot ensure that all capable graduates will secure employment. A statistically small percentage of private university graduates are hired by reputable domestic and international firms. Furthermore, reliable data indicates that Bangladesh's birth rate is rising rapidly, exacerbating the situation.
A lack of essential skills is another critical issue. In Bangladesh, high grades achieved through learning by rote are often valued over learning practical knowledge and applying it in real-world contexts. Both hard and soft skills are necessary for success: hard skills include being tech-savvy, such as understanding the impact of artificial intelligence, proficiency in Microsoft Excel, or familiarity with coding languages like HTML and Java; soft skills include negotiation, time management, communication, and leadership. Although many students achieve impressive grades, they frequently lack these practical skills. Some academically strong students are disqualified from opportunities because they become anxious or overwhelmed when giving presentations or responding in interviews. In essence, grades must be complemented by talent. Unfortunately, the education system in Bangladesh places minimal emphasis on technical skills, leaving many graduates struggling to secure jobs with even modest salaries, such as Tk 20,000, despite holding first-class master's degrees.
Political and professional connections also play a significant role in job placement. For example, between two equally qualified candidates, applicant A may be chosen over applicant B solely due to personal connections. Such situations highlight the bias inherent in corporate politics.
In Dr. Muhammad Yunus's book, A World of Three Zeros, he notes that a skilled person without employment is effectively discarded, and prolonged unemployment can severely impact an individual's mental health.
Zaveer Meraz Rahman
North South University
BBA Final year student
zaveer.meraz@northsouth.edu