B-schoolers
dig mgmt consultancy & e-commerce, but FMCG tops wish list
New Study Captures Changing Job Preferences Over 5 Years
In a throwback to the late 1990s,a traditional job at an FMCG firm is now,once again,the ultimate destination for an Indian business school graduate.
New Study Captures Changing Job Preferences Over 5 Years
In a throwback to the late 1990s,a traditional job at an FMCG firm is now,once again,the ultimate destination for an Indian business school graduate.
In the
hierarchy of preferences, a stint at a management consultancy, the top choice
four years ago for graduates,stands strong at number two as the dream job for today’s
B-schoolers. Jobs in the fledgling e-commerce space have sprung up as a hot new
choice, indicating the risk appetite among the young management brigade. However,a
shaky financial environment globally over the past five years has led to the
sheen coming off the once coveted investment banking job, even in India.
These are
some of the findings of a TOI-commissioned study conducted by Nielsen, a market
research firm.The study tracks changing trends over the past five years among
business school graduates.
Amid the
welter of fads,picking the first job was never easy.At the turn of this
century,the placement scenario at B-schools became rather different. That was
the safe time.The erratic economic weather had not set in then and taking the
job call was easier: Charts and graphs threw light on a reliable forecast and
the previous year was always a good reference point to start.
Now,however,even
the choice you make is a test in itself.As Peter Tufano,dean of the University
of Oxfords Said Business School,told TOI that making a decision on which sector
to join is tough,and it is the responsibility of the management school to equip
its students with the skills to understand how the market will move.Long cycle
perspectives can no longer be based on what youve seen in the last year.It is
the job of the business school to train its students to have the ability to
look at the long horizon and see opportunities there.
As businesses
loop and twist,job preferences have oscillated too.Graduates have become picky
about their choices and the focus is on sectors that have not swung about in
the economic storm.Sectors like FMCG,management consulting and large
conglomerates are preferred owing to good financials,and the job security these
sectors provide,while at the same time allowing for cross-functional mobility
and diverse exposure, said Dinesh Kapoor,ED,Nielsen India.
While hedge funds are still hot in the USA,several Indian B-schools saw the writing on the wall and started specialization verticals in sectors such as healthcare,agriculture,public policy,infrastructure and the like.
While hedge funds are still hot in the USA,several Indian B-schools saw the writing on the wall and started specialization verticals in sectors such as healthcare,agriculture,public policy,infrastructure and the like.
The
fundamentals of the Indian economy are strong and we,as a country,will need
leadership across several areas.We are happy that many students are opting to
join newer areas of businesses, said ISB deputy dean Deepak Chandra.
As per the Nielsen study,Kapoor observed that e-commerce was increasingly becoming popular,even though the sector might be considered more challenging as companies are mostly startups and might not offer the security of a conventional sector.However,post the economic meltdown a few years ago,the sector that has been hit the hardest is investment banking,which has slipped down the list, Kapoor said.
As per the Nielsen study,Kapoor observed that e-commerce was increasingly becoming popular,even though the sector might be considered more challenging as companies are mostly startups and might not offer the security of a conventional sector.However,post the economic meltdown a few years ago,the sector that has been hit the hardest is investment banking,which has slipped down the list, Kapoor said.
In the
sweltering summer of campus placements,investment banks that would once flood
slot zero at top Bschools are mostly landing on Day Two or Three.They used to
come in tow with the dreams of plum bonuses and an expensive taste in life to
pick the choicest of graduates.With banks reaching a bitter platitude,joining
investment banking no longer gives the new graduate a high,paralleling what has
happened across US business campuses.
E Balaji,MD & CEO,Randstad India,a global recruitment firm,said investment banking has been impacted by economic volatility,and organizations have become cautious on large spends.
But we expect this sector to feature in the top two or three attractive sectors in the next couple of years,as the economy grows.A similar cycle was seen with IT consulting companies in the last decade,where they were day zero recruiters during the boom time, he said.
The FMCG sector in India has been a performing sector clocking high growth numbers and has not been affected much by the economic downturn.Also,the recent FDI in retail has had a positive impact on this sector,said Randstad's Balaji.
Leading FMCG companies continue to be highly sought-after across premier B-schools.Like FMCG,there is strong demand for management consulting firms,mainly with students who have over four to five years of work experience.Business students perceive these sectors as offering better job content and career opportunities in the long term, Balaji said.
WHAT MAKES FOR A COOL PACKAGE
The change in the average salary that an MBA graduate expects has inched up over the years.Not only has the economic turmoil played a role in determining salary,even the count of MBA graduates is up.The change in salary expectations is linked to the increase in batch and student intake across institutes,and while the number of graduates has increased,requirements of conventional recruiters have remained the same.So we have seen the entry of public sector organizations hiring from business schools,where the pay scales and job profiles differ from those of private sector recruiters.Another noticeable trend on campuses is the introduction of differential payment grades depending on the students academic performance,where companies offer a higher salary to students with better academic records,compared to those with modest records, said Dinesh Kapoor,ED,Nielsen India.
E Balaji,MD & CEO,Randstad India,a global recruitment firm,said investment banking has been impacted by economic volatility,and organizations have become cautious on large spends.
But we expect this sector to feature in the top two or three attractive sectors in the next couple of years,as the economy grows.A similar cycle was seen with IT consulting companies in the last decade,where they were day zero recruiters during the boom time, he said.
The FMCG sector in India has been a performing sector clocking high growth numbers and has not been affected much by the economic downturn.Also,the recent FDI in retail has had a positive impact on this sector,said Randstad's Balaji.
Leading FMCG companies continue to be highly sought-after across premier B-schools.Like FMCG,there is strong demand for management consulting firms,mainly with students who have over four to five years of work experience.Business students perceive these sectors as offering better job content and career opportunities in the long term, Balaji said.
WHAT MAKES FOR A COOL PACKAGE
The change in the average salary that an MBA graduate expects has inched up over the years.Not only has the economic turmoil played a role in determining salary,even the count of MBA graduates is up.The change in salary expectations is linked to the increase in batch and student intake across institutes,and while the number of graduates has increased,requirements of conventional recruiters have remained the same.So we have seen the entry of public sector organizations hiring from business schools,where the pay scales and job profiles differ from those of private sector recruiters.Another noticeable trend on campuses is the introduction of differential payment grades depending on the students academic performance,where companies offer a higher salary to students with better academic records,compared to those with modest records, said Dinesh Kapoor,ED,Nielsen India.
Source: TOI
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