Lucrative, cost-effective and time saving developments in Information Technology have created a revolution worldwide. Pakistan is among the beneficiaries economies where the business community stimulates to incorporate IT resources in their organizational culture for speedy, reliable, and economical solutions. Local universities are no exception to that and are actively involved in research, training and developing IT-based systems, procedures and tools to transform conventional styles into effective and efficient IT led educational system. The study analyzes the effectiveness of IT in business education. The emphasis is on the impact of IT on business graduates academics. The study argues that mere allocation of funds for the development of IT resources does not produce the graduates of market expectations. Business schools have to ensure the effectiveness and efficiency of their investment and must also critically monitor the learning progress of their business graduates. Sample data of 254 business graduates is collected from the three leading universities of Lahore; COMSATS Institute of Information Technology, University of the Punjab and University of Management and Technology. Sample data also includes Government College University, Faisalabad as a special case which hires visiting faculty only. The findings conclude that business graduates from Government College University Faisalabad are more satisfied. Their graduates find significant improvement in studies after attending IT courses. Overall business graduates find more improvement in the general usage of computers and show deficiencies in specific usage (related to different specialized fields of business education). Majority of them recommended to include more practical issues and latest technology in IT curriculum.