Thursday, March 08, 2007

Indian Campus Placements & the aftermath!!

It is that time of the year, where probably every week you read about the 'record breaking ' salaries being offered to the MBA students -at campus -at most premier B Schools in India!

Each institute has a press release:

FMS: Class of 2007 Takes Off in Style
New Salary Peaks in XLRI’s Lateral Recruitment Process
FORE Placements Enter New Career Frontiers
Average Salary Crosses Rs 10 lakh at JBIMS Placements
IT Sector the Largest Sector at GIM
ISB’s Rolling Placements Season in Full Swing
NITIE Placements Get Unconventional
IMT achieves 100% placements in just 4 hours
IIFT grads see 20% salary increase
XIMB graduates scale higher peaks

Ever realised what the after effect would be? Certainly discontent and an array of emotions :-)!

1. the alumni of earlier batches sit up -and constantly try to benchmark -and estimate whether they are being paid fairly or not..and start polishing their CVs -the starting point for attrition :-)!

2. the alumni of the 80's feel most dejected. After all, when they passed out, the predecessors of 70s were the guys who called all the shots. Only the grey haired could make the grade. Come 90's and the post liberalisation era, suddenly all the companies wanted young, mean and energetic people.

It was almost if the alumni of the 80's were the "skipped generation"!! Today if one has the old economy employing the 70s graduates at top management, the new economy doesnt get inspired by those over 40!

3. there is inertia-till the companies announce their results in March and finalise their promotion plans!! yes, the recruitment market begins hotting up!!

I can't remember where I read it-it was pretty much this week- IIM Indore decided to do away with the sharing of the 'actual salaries' being offered at the campus-as there was resistance from two sections of stakeholders :
a) the corporates which want the compensation levels to be confidential!
b) the parents of some of those 'potentially well endowed' students fearing security problems for their wards..who suddenly come into big wealth-and mega publicity!
Stop press: IIM Ahmedabad too is reconsidering sharing the 'numbers' on the day zero and day one-as they wd perhaps set the trend for the remaining days!!

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