The Elite University : Are we too selective ?

This paper attempts a socio-economic analysis of elite institutions in India and uses employment options exercised by fresh graduates as a key indicator. We point to its implications to national objectives and development outcomes. We use IIT Bombay as a representative institution and analyse the employment data for the year 2013. Our analysis shows that most graduates of IIT Bombay do not choose jobs which directly benefit the Indian economy, nor do they prefer to work in Engineering and Technology. Merit, defined as performance at entrance examinations, rather than training, is a more decisive indicator of salaries and allocations. We argue that the definition of merit and its identification in a global economy is fraught with risk for a developing society such as ours. Finally, we make some recommendations on the way ahead and suggest a more strategic and developmental role for elite institutions.