A brief Idea
The IHMs established by the Central government don’t get any revenue grants from the Government of India. The entire revenue expenditure of the IHMs are only met through the students’ admission fees. It means if the IHM admits its full students’ intake capacity it can run the institute. The capital grants are provided by the Central Govt when required. The present total cost of pursuing a 3yyears hospitality education in a central Govt IHM is Rs (3.75lakhs Tuition fees + 1.30lakhs Hostel + 0.75lakh for IT) = Rs. 5.80lakhs. This is the amount one spends to complete the 03 years programme on BSc in Hospitality course on time. After completion of this course, the students get a Job in hotel / in food retail / non-food retails / other sectors. The average salary that one gets is around Rs. 18000/ month. It’s a generally accepted observation regarding the placements that the students get promotion after two years with a maximum increase of Rs. 2000/ month in the salary. In a way we can say that after five years of graduating, if they continue jobs in hotels, candidates on average get the maximum of Rs. 25,000/ month.
I would put it like that, after 05 years of regular service in hospitality sector, the average qualified hospitality Graduate gets a salary of Rs 25,000/ month. Means the average salary of a candidate is Rs (18,000 +25,000) / 2 = Rs. 21,500/- month for the 05 years of service. Assuming that the candidate takes admission in Hospitality after 12th class, at the age max 20 years, by the time he completes the 3 years course and 05 years of Job, he attains the age approximately 27 years. Just Imagine an average hospitality qualified person at the age, 27 years draws the average salary of Rs. 21,500/ month for 7 years in the core hospitality sector. Few of the central IHMs are having specialisation in hospitality courses. But that specialisation is not really recognised by the Industry.
If one pursues other professional courses, regarding their salary after 5 years of service? Would it be higher or lower? A brief view was taken and the following were observed concerning other professional education. The number of students participating the JEE (engineering) admission test is very high and the amount of fees charged by IIT/NIT/IIIT& other reputed engineering colleges are definitely higher than IHMs though these educational Institutes are fully funded by the Government. The total admission fees are around Rs. (12-15) lakhs for the entire 04 years. Hostel fees are separately charged. The Engineering colleges have different specialised branches for advanced study and the students are recruited accordingly. The engineering courses have Master’s Programme and PhD programme too.
What is the average salary of the engineering graduates after 5 years of job experience? Is there any attrition among the engineering graduates?
If we take the case of the BSc Nursing students (04 year programme), we find a small degree of attrition among the nursing students in job.
What would be the average salary of a nurse in a hospital after 5years of job experience?
If we check, the fashion designing course, the attrition is acceptable and it leads to entrepreneurships too.
If we check the undergraduate Journalism and mass communication programme, there is less attrition too.
If we check Undergraduate Physiotherapy course, we find the course fees is around Rs 4lakhs to Rs 6lakhs.What would be the average salary of a BPT graduate with 05 years Job experience?
One finds the undergraduate degree course in agriculture too does not see large degree of attrition as the students join the agriculture course by design not by default.
If we make a comparative study on the investment cost on the professional courses and the return on the investment there in, we will find it will be tough for the aspiring students in hospitality courses. The salary, the attrition and the career growth and social safety will be a big debate point. As such during the last two years the attrition rate in the Hotel and restaurant business is more than 75%. So the stake holders of the hospitality need to think and act fast in redesigning the curriculum with multidisciplinary approach and flexibility. The Hospitality industry too need to take some real tough decisions to attract the young people into industry with good paying standard, ideal working hours and job security.
The 1st five years in service is referred as this period sees the maximum attrition among the hospitality graduates. The Medical course of MBBS/Architecture was not considered as these are 05 years programme.