SUMMARY

If you have ever wondered whether a university degree still guarantees a strong start in the job market, Saurabh Mukherjea has a stark view. The Founder and CIO of Marcellus Investment Managers has criticised India’s education system, saying it is built on “ratta maaro and regurgitate in the exam” and does little to prepare students for a changing economy.

Speaking on a podcast, Mukherjea said Indian education continues to reward memorisation over thinking. In his view, that approach is leaving students ill-equipped for sectors being transformed by artificial intelligence, electric vehicles, biotechnology and clean technology. He argued that the system is not giving young people the skills that the economy now demands.

He said the strain is already visible in the jobs market. “Forget AI, we can see in the data itself,” Mukherjea said. He claimed that employment outcomes for graduates remain poor, adding: “Out of every 100 graduates coming out of college, only three are getting a job in the year of their graduation.”

He also said unemployment among graduates is much higher than among those with little or no formal education. “You are better off in India not going to university,” Mukherjea said, calling higher education a process of “rattafication” rather than genuine skill-building.

According to Mukherjea, the issue starts long before college. “Even your schooling years are not spent thinking. Even the schooling system focuses on rote and regurgitation,” he said. He argued that this emphasis on memorisation weakens innovation and prevents students from developing the analytical ability needed in newer industries. He linked this to India’s limited footprint in several emerging sectors. “Na toh hum AI mein hain, na EV mein, na biotech mein, na clean tech mein,” he said.

Mukherjea also said employers are increasingly sceptical about what a university degree adds. Referring to his book Breakpoint, he said some of India’s top earners are people who completed Class 12 and entered the workforce instead of going on to higher education.

To make the point, he cited examples from Mumbai’s labour market, saying many graduates seeking desk jobs could end up earning less than people in skilled manual work. “A construction worker will earn twice as much,” he said, adding that operators of heavy machines such as JCBs may earn even more.

Published on: Jun 20, 2026 1:46 PM IST