Graduates Struggle to Earn Tk 15K a Month
Currently, there are numerous students in Bangladesh complete graduation every year. But lack of job opportunities makes them unemployed. Some fresh graduates struggle to earn more than 10k in a month, even being technical graduates. A lot of technical graduates in Bangladesh today are facing a severe crisis in getting suitable employment. Even after completing most of their education, around 73% of them earn below Tk 15,000. The entry-level salaries of different industries in Bangladesh are very low. The first ground for this concern is the inconsistency between the education system and the job market and a noticeable skill gap. Let’s see how it’s happening continuously and what we can do to solve it.
Why Most Graduates Earn Less Than Tk 15K in Bangladesh
Low salary issues for graduates are increasing rapidly. Especially fresh graduates are in deep trouble in the context of Bangladesh. The reality for Bangladeshi technical graduates is stark. The majority of entry-level jobs in the market offer insufficient salaries since they need more relevant skills. According to a study by the Centre for Policy Dialogue (CPD), only 1% of technical graduates earn above Tk 30,000.
The mismatch between education and the job market is the main reason to avoid getting paid a high salary. Companies can’t make too much money with a fresh technical graduate. That’s why they can’t pay more. Even after earning certifications, many graduates are still looking for high-paying jobs. Most of the time, they find themselves taking up unpaid jobs just to gain experience. This scenario is disturbing and explains the widening gap that exists between technical education and industry needs. These are the fundamental factors affecting the salary of a graduate. So, the financial struggles of a graduate continue.
Skill Gap and Market Demand
Not that the education system could make them perfect for the technical job; students have to be interns to have some real-life experience working. A growing gap between the skills of graduates and the real payment market is among the critical points for such low salaries. Companies will be paying less than they did for technical graduates because they need more practical experience.
This is a common scenario of a company in which many employers criticise the quality of fresh graduates’ work. Many recruiters feel that new hires need additional training before they can begin to add value to the workplace. Therefore, many graduates end up in jobs that pay way less than what they expect. Just think from your side, if you can’t make 10k for your company by using a fresh technical graduate, why will you pay him or her 15k?
Also, many courses in technical programs need to impart problem identification and solution skills, plus critical thinking. Without this, the graduate has no option other than to struggle to fit in the most competitive job market. That’s why the graduate unemployment rate in Bangladesh is also increasing, because people can’t accept too low a salary even after completing graduation. So, from now this is the biggest challenge for Bangladesh education to cope with the situation. The government should create a proper education system which can make an impact in the early stage of job life.
Mismatch Between Technical Education and Industry Requirements
One of the big demerits of the technical education system in Bangladesh was the backdated curriculum. A majority of the courses needed to match local industry requirements. Because of this, graduates do not face any challenges prepared by their jobs. For this, graduates’ salary in Bangladesh is also low.
This is what the study conducted by CPD in collaboration with ESDO and Citizens Platform for SDGs said, only 13 percent of students feel that the education system has met their expectations. This is a clear indication that there is a vast gap that has developed between what is taught and what is expected in the real world.
Specific technical skills sought by local industries are rarely found in academic programs. For example, new developments, such as digital marketing, software development, and advanced manufacturing courses, are usually outside the standard curriculum. Therefore, university graduates still need to fulfil the market demands.
Outdated Curriculums in Technical Education
The old technical education system is infected from the beginning with lots of problems through which the students can suffer as much as the industries in which they would like to work. This is because, of course, the training is outdated, and employers are reluctant to hire them. They have minimal practice skills but primarily theoretical knowledge. That’s the reason the companies have to spend more time and expenses on the training of these new employees.
Graduates end up struggling to get fat salaries because they need more essential skills sufficient for better jobs. It keeps them in a fix as to where technical education helps neither students nor employers. For this reason, technical students have very few options, such as working without salary or doing internships which can never lead to the job they would like to have at the end. But most people don’t want to work for free, and that’s why the rate of graduates becoming unemployed rate is increasing day by day. This is very demoralizing and can cause them to give up on their dreams and career goals.
Solution of low salary and high unemployment rate
Train up modernizing the technical education system of Bangladesh to break this chain.
Align Curriculums with Industry Needs
Educational institutions should join hands with industries and work out courses that can perfectly meet market demands. Other practical skills should include coding, digital marketing, and advanced mechanics. If the government can implement effective curriculums, then fresh graduate can relate their academic knowledge to the job requirements.
Invest in Teacher’s Training & career counseling
Only 18% of teaching posts in technical education are presently occupied. It is essential to fill these positions with adequate, qualified personnel and train those who will keep pace with global standards. Career counselling provides students with an idea of the skills they require for success in their chosen field. This would also fill the gap between education and employment.
Build proper infrastructure
Infrastructure should be improved. Most technical institutions need the necessary infrastructure to conduct hands-on training for their students. Investment in modern labs and workshops will make sure that students practice with tools that will make them more industry-ready before they venture into the job market. This is how you should build up a fresh graduate, and you can make some sound output using the fresh graduate.
Higher education in Abroad
This is the ultimate solution for students who want to escape the whole education system and the low-salary infrastructure in Bangladesh. Studies in abroad can provide a promising future in an International career. Students have the opportunity to study in bachelor, diploma or master’s programs in top-rank universities in the world even with the scholarship opportunity. There are some trusted organizations which work on student visa processing. Students can grab the chance if they want to fly abroad for higher studies.
Final Thoughts
Currently, over 50% of the time, technical graduates in Bangladesh have to face the challenge of securing a job that pays them well. Low-paying jobs for technical students are a big problem.
The most common issues include the skill gap, irrelevant curriculum, and disqualification from industries. If these modernizations happen, the students would not only be entering into great jobs but also creating value-added growth for the economy. It is now the time to invest in technical education and provide the youth with the opportunities they deserve.
On the other hand, there is a good option to go abroad for a sustainable future. The graduate job market is attractive in some countries in Europe or America. Also, there are good Career opportunities for graduates in master’s programs.
We’ve described almost every problem behind low salaries and the unemployment rate. Also, we’ve discussed the possible solution, now your career, your choices, what to do or not.
