Around 90,000 students appear, each year, for the Maharashtra State Common Entrance Test (CET) conducted by the Directorate of

Technical education (DTE), the educational authority of technical education in Maharashtra, to get an admission into an MBA college in Maharashtra but only around 35,000 students graduate each year with a coveted Master of Management Studies (MMS) degree in the hope that it would land them a high paying job in a top organization. But are these students really the crème de la crème of management education? Are they well equipped with the business knowledge, skills, and attitude (KSA) that today’s competitive environment demands? Many corporates seem to disagree, citing fundamental problems within the management education system. This paper will look into these problems which have created an employability gap among management students and would provide answers on how these problems can be tackled across the three main streams of business education-Human resources, Marketing, and Finance. Later, the paper will provide insights into how the structure of management education in Maharashtra can be strengthened. Data were collected using semi-structured interviews that were conducted with the following principal actors in management education: Current management students, management students who have completed a year in an organization, faculty from business schools across Maharashtra, recruiters who conduct campus placement interviews, and, finally, functional managers to whom these students would report to at work. The paper has huge implications for the management educational authorities and business schools in Maharashtra, India.