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Thursday, March 16, 2006
News 17-Mar-2006
IIM-A grads to plough it back this year to fund research projects
For the first time in any IIM’s history, the graduating students will donate a part of the salary they earned in the placements to the institute. They are setting up a special fund for the purpose. The money they donate is to be used to carry out research projects at the institute. “IIM-A has some of the best faculty and programme content. Complete Article
IIM tag helps this DIG move up in life
Surya Prasad (42) laughs when you ask him about his Indian Institute of Management-Ahmedabad (IIM-A) experience. “It was quite an experience studying with 20-year-old students some of who were not even born when I started work. That’s the charm of studying at the business school,’’ says the Chennai-based deputy inspector general of police, who graduated from the IIM-A this year. Complete Article
IIM-Kozhikode students make a mark as cos come calling
IIM-Kozhikode’s batch of 2006 signed off in spectacular style with companies making 423 offers to the 133 students. Banking, financial services and insurance sector offered the highest domestic salary of Rs 16.67 lakh, a record of sorts in this year’s recruitment. Around 20% of the students opted for this sector. Complete Article
Goldman plans to invest $1 bn in India
The famous bulge bracket banks are now coming into their own in India. After Merrill Lynch, it’s the turn of Goldman Sachs to strike out on its own. Given the growing importance of India on the global economic map, it’s a good bet that none of them want to be seen as losing out and Goldman Sachs is now set to invest close to $1 bn in India. Complete Article
For the first time in any IIM’s history, the graduating students will donate a part of the salary they earned in the placements to the institute. They are setting up a special fund for the purpose. The money they donate is to be used to carry out research projects at the institute. “IIM-A has some of the best faculty and programme content. Complete Article
IIM tag helps this DIG move up in life
Surya Prasad (42) laughs when you ask him about his Indian Institute of Management-Ahmedabad (IIM-A) experience. “It was quite an experience studying with 20-year-old students some of who were not even born when I started work. That’s the charm of studying at the business school,’’ says the Chennai-based deputy inspector general of police, who graduated from the IIM-A this year. Complete Article
IIM-Kozhikode students make a mark as cos come calling
IIM-Kozhikode’s batch of 2006 signed off in spectacular style with companies making 423 offers to the 133 students. Banking, financial services and insurance sector offered the highest domestic salary of Rs 16.67 lakh, a record of sorts in this year’s recruitment. Around 20% of the students opted for this sector. Complete Article
Goldman plans to invest $1 bn in India
The famous bulge bracket banks are now coming into their own in India. After Merrill Lynch, it’s the turn of Goldman Sachs to strike out on its own. Given the growing importance of India on the global economic map, it’s a good bet that none of them want to be seen as losing out and Goldman Sachs is now set to invest close to $1 bn in India. Complete Article
Wednesday, March 15, 2006
News - 16-Mar-2006
IIM Grad rejected JP Morgan to Join European Football Club
Twenty-six-year-old, Satyajit Sadanand, who is set to graduate from IIM-Lucknow next month, turned down a Rs 9-lakh lateral placement offer in January from global investment bank JP Morgan Chase. He is instead planning to join a European football club to gain experience in the modern techniques of coaching and professional club management to fulfil his goal of making football a viable career in India. Complete Article
We Indians are incredible! Article
Twenty-six-year-old, Satyajit Sadanand, who is set to graduate from IIM-Lucknow next month, turned down a Rs 9-lakh lateral placement offer in January from global investment bank JP Morgan Chase. He is instead planning to join a European football club to gain experience in the modern techniques of coaching and professional club management to fulfil his goal of making football a viable career in India. Complete Article
We Indians are incredible! Article
Monday, March 13, 2006
News 14-Mar-2006
Sales tax storm hits IIM-A placements
The Indian Institute of Management (IIM)-Ahmedabad and the government are on a collision course yet again. However, this time it is not about fee structures or overseas campuses, the tussle is over the IIMs having to pay sales tax under the assumption that B-schools are manpower placement agencies. Complete Article
MBAs say no to foreign postings
The lure of the overseas job is dying down. As against three graduating students at IIM-A in ‘03, 18 students in ‘06 have refused international offers. They say, if India is growing, why go abroad? Complete Article
The Indian Institute of Management (IIM)-Ahmedabad and the government are on a collision course yet again. However, this time it is not about fee structures or overseas campuses, the tussle is over the IIMs having to pay sales tax under the assumption that B-schools are manpower placement agencies. Complete Article
MBAs say no to foreign postings
The lure of the overseas job is dying down. As against three graduating students at IIM-A in ‘03, 18 students in ‘06 have refused international offers. They say, if India is growing, why go abroad? Complete Article
MBA News 13-Mar-2006
XLRI student bags Rs13 lakh offer in 2006 placements
A student of XLRI Jamshedpur has bagged highest salary offer of Rs 13 lakh (Rs 1.3 million) per annum from McKinsey in its placement for 2006 batch.
Last year's highest domestic offer of Rs 12 lakh p.a. was made by Boston Consulting Group (BCG).
McKinsey has recruited three XLRI students with the highest offer followed by Hay Group, Accenture Business Consulting and HSBC Bank.
More than 25 students were offered salaries above Rs 10 lakh p.a.
The average salary offered to 186 students, both from the Business Management (BM) and Personnel Management & Industrial Relations (PM&IR) courses was around Rs 8.4 lakh pa, 13.51 per cent higher that last year's average of Rs 7.4 lakh p.a.
IBM, Cognizant, Goldman Sachs Equity Research, Ernst & Young Human Capital, ICICI Prudential, Hewitt Associates and Nokia were amongst the major players who recruited around 85 XLRI graduates.
Capgemini Consulting, KPMG Consulting, SAP America, Nokia, Oracle and Virtusa were few among the nine new entrants for the placement 2006.
FMCG sector showed its dominance in this year placement with major names like Asian Paints, Cadbury, Coca Cola, Colgate Palmolive, HLL, ITC, GSK, Marico, Nestle, Pepsi, Reckitt Benckiser and Seagrams.
Around 27 per cent students signed out with offers from FMCG and manufacturing firms. The banking, finance and insurance sector has been the favourite sector amongst the students. Around 26 per cent of the students opted for offers in these sectors. Another 21 per cent opted for consulting firms.
Besides the top banks like Citibank, HSBC Bank, ICICI Bank and Standard Chartered Bank, new entrants list included Lehman Brothers India and Goldman Sachs Equity Research.
The insurance sector, represented by AIG and ICICI Prudential picked up 11 students. The number of lateral offers made was 82 out of which 53 candidates were offered pre-placement offers and another 18 were offered pre-placement interviews.
IIM-B creates record in campus recruitment
The Indian Institute of Management-Bangalore has broken all records and beaten the other IIMs by getting the highest pay packet for an individual student in the annual placements.
At the end of 'slot zero,' Gaurav Agarwal of Kanpur has secured placement from Barclays Capital with an annual salary of $193,000 (about Rs 86 lakh), thereby breaking the record of $185,000 secured by a graduate from IIM-Ahmedabad just two days ago.
Gaurav Agarwal will be posted in London. Another student, Venkatesh Shankararaman, got a package of Rs 30 lakh, the highest offer for a domestic position, in Mumbai. Agarwal, an IIT Kanpur alumnus, had done his summer internship with Barclays. Prior to joining the IIM-B, Agarwal was working with a network chip-design company, Tera Blaze, at the Silicon Valley, USA.
On the other hand, a B-Tech graduate from IIT-Madras, Venkatesh Shankararaman did his post-graduate in science from Ohio State University and worked with i2 Technologies in the US.
Overall, a total of 21 companies took part in the placement process, including the biggies of global investment banking, the like of Goldman Sachs (London, New York), BNP Paribas (Hong Kong), Barclays Capital (London, New York, Hong Kong, and Singapore), Merrill Lynch (Hong Kong, Singapore), Lehman Brothers (New York, London, Tokyo, Hong Hong), Deutsche Bank (London), ABN AMRO (Hong Kong), UBS (Hong Kong, London), and JP Morgan (London).
Besides the investment banks, the gravy train this time included consulting giants. The consultants brigade was led by McKinsey, Bain and Co, Boston Consulting Group, Ameriprise Financials, Deutsche Post (USA, Germany and Singapore), AT Kearney and Diamond Cluster.
"The numbers speak for the quality of students. The students were brilliant and we have recruited the highest number of candidates from here, among the three campuses," said Vikash Daga of McKinsey.
As many as 182 students signed up for the process and by the end of "Day Zero", 65 of them, comprising 34 per cent of the batch, were placed.
McKinsey has taken nine recruits from the IIM-B, the highest among all IIMs this year.
The IIM-B's growing reputation of producing specialist students was underlined by the presence of private equity firms like Baring Private Equity Partners, news giant Bloomberg (New York) and conglomerates like British Petroleum (Singapore) and Mittal Steel. Last year, 78 companies had together made 328 offers at IIM-B.
Indian companies began their recruitment on Sunday, the first day of the recruitment process, wherein the activity focused on students interested in marketing, retail banking, IT services and consulting. The line-up includes FMCG behemoths like HLL, P&G, banking giants like Kotak and Citibank, and consultants like Accenture and KPMG joining the parade. The process will go on till mid-night.
Amid this shower of lucrative offers, one student, Kunal Mahipal of Kolkata, has opted out of the placements and has decided to start his own business. He did his BCom degree from Xavier's College, Kolkata.
His aim is to make it big in the branded garments industry. His company, Kriti, will focus on designer wear for men, women and kids. He has already managed to arrange 30 per cent of the capital from his partner. He plans to approach venture capital funds for the rest of the investment.
Be prepared to be videotaped in CET , Fees hiked by 10%
Watch out if you are appearing in the PU's Common Entrance Test (CET) this year! You'll be videotaped at the exam centre. The syndicate also decided that students of professional courses would have to pay 10% more fee this time. The hike will be applicable to the general- category seats in MBA, three-year law course, MPharma, BPharma and Chemical Engineering. NRI seats will not be affected by it. Complete Article
A student of XLRI Jamshedpur has bagged highest salary offer of Rs 13 lakh (Rs 1.3 million) per annum from McKinsey in its placement for 2006 batch.
Last year's highest domestic offer of Rs 12 lakh p.a. was made by Boston Consulting Group (BCG).
McKinsey has recruited three XLRI students with the highest offer followed by Hay Group, Accenture Business Consulting and HSBC Bank.
More than 25 students were offered salaries above Rs 10 lakh p.a.
The average salary offered to 186 students, both from the Business Management (BM) and Personnel Management & Industrial Relations (PM&IR) courses was around Rs 8.4 lakh pa, 13.51 per cent higher that last year's average of Rs 7.4 lakh p.a.
IBM, Cognizant, Goldman Sachs Equity Research, Ernst & Young Human Capital, ICICI Prudential, Hewitt Associates and Nokia were amongst the major players who recruited around 85 XLRI graduates.
Capgemini Consulting, KPMG Consulting, SAP America, Nokia, Oracle and Virtusa were few among the nine new entrants for the placement 2006.
FMCG sector showed its dominance in this year placement with major names like Asian Paints, Cadbury, Coca Cola, Colgate Palmolive, HLL, ITC, GSK, Marico, Nestle, Pepsi, Reckitt Benckiser and Seagrams.
Around 27 per cent students signed out with offers from FMCG and manufacturing firms. The banking, finance and insurance sector has been the favourite sector amongst the students. Around 26 per cent of the students opted for offers in these sectors. Another 21 per cent opted for consulting firms.
Besides the top banks like Citibank, HSBC Bank, ICICI Bank and Standard Chartered Bank, new entrants list included Lehman Brothers India and Goldman Sachs Equity Research.
The insurance sector, represented by AIG and ICICI Prudential picked up 11 students. The number of lateral offers made was 82 out of which 53 candidates were offered pre-placement offers and another 18 were offered pre-placement interviews.
IIM-B creates record in campus recruitment
The Indian Institute of Management-Bangalore has broken all records and beaten the other IIMs by getting the highest pay packet for an individual student in the annual placements.
At the end of 'slot zero,' Gaurav Agarwal of Kanpur has secured placement from Barclays Capital with an annual salary of $193,000 (about Rs 86 lakh), thereby breaking the record of $185,000 secured by a graduate from IIM-Ahmedabad just two days ago.
Gaurav Agarwal will be posted in London. Another student, Venkatesh Shankararaman, got a package of Rs 30 lakh, the highest offer for a domestic position, in Mumbai. Agarwal, an IIT Kanpur alumnus, had done his summer internship with Barclays. Prior to joining the IIM-B, Agarwal was working with a network chip-design company, Tera Blaze, at the Silicon Valley, USA.
On the other hand, a B-Tech graduate from IIT-Madras, Venkatesh Shankararaman did his post-graduate in science from Ohio State University and worked with i2 Technologies in the US.
Overall, a total of 21 companies took part in the placement process, including the biggies of global investment banking, the like of Goldman Sachs (London, New York), BNP Paribas (Hong Kong), Barclays Capital (London, New York, Hong Kong, and Singapore), Merrill Lynch (Hong Kong, Singapore), Lehman Brothers (New York, London, Tokyo, Hong Hong), Deutsche Bank (London), ABN AMRO (Hong Kong), UBS (Hong Kong, London), and JP Morgan (London).
Besides the investment banks, the gravy train this time included consulting giants. The consultants brigade was led by McKinsey, Bain and Co, Boston Consulting Group, Ameriprise Financials, Deutsche Post (USA, Germany and Singapore), AT Kearney and Diamond Cluster.
"The numbers speak for the quality of students. The students were brilliant and we have recruited the highest number of candidates from here, among the three campuses," said Vikash Daga of McKinsey.
As many as 182 students signed up for the process and by the end of "Day Zero", 65 of them, comprising 34 per cent of the batch, were placed.
McKinsey has taken nine recruits from the IIM-B, the highest among all IIMs this year.
The IIM-B's growing reputation of producing specialist students was underlined by the presence of private equity firms like Baring Private Equity Partners, news giant Bloomberg (New York) and conglomerates like British Petroleum (Singapore) and Mittal Steel. Last year, 78 companies had together made 328 offers at IIM-B.
Indian companies began their recruitment on Sunday, the first day of the recruitment process, wherein the activity focused on students interested in marketing, retail banking, IT services and consulting. The line-up includes FMCG behemoths like HLL, P&G, banking giants like Kotak and Citibank, and consultants like Accenture and KPMG joining the parade. The process will go on till mid-night.
Amid this shower of lucrative offers, one student, Kunal Mahipal of Kolkata, has opted out of the placements and has decided to start his own business. He did his BCom degree from Xavier's College, Kolkata.
His aim is to make it big in the branded garments industry. His company, Kriti, will focus on designer wear for men, women and kids. He has already managed to arrange 30 per cent of the capital from his partner. He plans to approach venture capital funds for the rest of the investment.
Be prepared to be videotaped in CET , Fees hiked by 10%
Watch out if you are appearing in the PU's Common Entrance Test (CET) this year! You'll be videotaped at the exam centre. The syndicate also decided that students of professional courses would have to pay 10% more fee this time. The hike will be applicable to the general- category seats in MBA, three-year law course, MPharma, BPharma and Chemical Engineering. NRI seats will not be affected by it. Complete Article
Time and Experience are Great Teachers
V N Tyagrajan is executive vice president, Genpact. He graduated from the Indian Institute of Management, Ahmedabad, in 1985
About 21 years ago, I left IIM, thinking I knew it all. I did know a lot, thanks to my education, and it gave me self-confidence. What I didn’t realise then was that my academic learning wasn’t enough for success. Not at all!
My first job was to lead a team of seasoned sales people. The team was experienced and knew its markets. It didn’t need a rookie like me to lead it. So I wondered how I could make them work together and with me, how I could energise and motivate them, and how I could gain their confidence and make the company grow.
I learned “on the job,” from the experiences of others and myself; from great mentors and trial and error. B-school did not teach me the softer skills of getting that important buy-in to drive change.
A few years later, I had to take the business to a higher level. I had to confront the brutal truth that many in my team did not make the cut. Though we had achieved success together in the past and were friends, I had to let them go. It was personally a painful step, something B-school never teaches you to handle. The fact that I worked with great leaders and organisations that constantly questioned the status quo guided my decisions.
Time has taught me that organisational culture and values shape and drive individuals’ behaviour and team behaviour. B-schools don’t teach skills to shape organisational culture and build teams that can win in a rapidly changing world.
In conclusion, I must say that time and experience are great teachers. They taught me that energising a team, continuous learning, learning from mistakes, managing change and real-life mentoring are critical to success. B-schools don’t teach soft team skills, taking hard decisions to build the right team and sculpting culture that takes the organisation to the next level. You must get into the trenches to learn those.
About 21 years ago, I left IIM, thinking I knew it all. I did know a lot, thanks to my education, and it gave me self-confidence. What I didn’t realise then was that my academic learning wasn’t enough for success. Not at all!
My first job was to lead a team of seasoned sales people. The team was experienced and knew its markets. It didn’t need a rookie like me to lead it. So I wondered how I could make them work together and with me, how I could energise and motivate them, and how I could gain their confidence and make the company grow.
I learned “on the job,” from the experiences of others and myself; from great mentors and trial and error. B-school did not teach me the softer skills of getting that important buy-in to drive change.
A few years later, I had to take the business to a higher level. I had to confront the brutal truth that many in my team did not make the cut. Though we had achieved success together in the past and were friends, I had to let them go. It was personally a painful step, something B-school never teaches you to handle. The fact that I worked with great leaders and organisations that constantly questioned the status quo guided my decisions.
Time has taught me that organisational culture and values shape and drive individuals’ behaviour and team behaviour. B-schools don’t teach skills to shape organisational culture and build teams that can win in a rapidly changing world.
In conclusion, I must say that time and experience are great teachers. They taught me that energising a team, continuous learning, learning from mistakes, managing change and real-life mentoring are critical to success. B-schools don’t teach soft team skills, taking hard decisions to build the right team and sculpting culture that takes the organisation to the next level. You must get into the trenches to learn those.
Friday, March 10, 2006
MBA News Link - 10-Mar-2006
Local cos eye IIM-A & foreign cos IIM-B .........
Reliance Industries will be coming to the IIM Ahmedabad campus to recruit PGP students. This will be its first visit to the campus for final placements. RIL will join the ranks of old-timers like HLL, TAS, ABN Amro India and ICICI Bank. In addition, P&G, Standard Chartered, Microsoft, Genpact and Cognizant are registered with the campus for placements. Around 50 companies will make a beeline for IIM-A on Friday — the beginning of Day One recruitment. Click for Complete Article
India, Inc. goes global on salaries ..........
With all the talk in B-schools about Maslow’s hierarchy and self-actualisation being the goal, talent in India Inc has found another compelling reason to stay in the country — global pay scales. Indian talent is increasingly realising that when it comes to compensation, it is a global playground. What looks great on the resume is an international compensation, along with being a part of the Indian growth story. Click for Complete Article
IIM B Partners with U21Global ........
Universitas 21 Global, now called U21Global, the world's premier online Graduate School, has signed an MoU with the NSRCEL (N S Raghavan Centre for Entrepreneurial Learning) of the Indian Institute of Management Bangalore, for a joint certificate program on Entrepreneurship and Family Enterprise. Click for Complete Article
Opinion: What's an MBA Good for -- Really? .........
It seems that I get more questions about the MBA degree than any other career development topic. It appears to hold a uniquely prominent space in the minds of ambitious managers and would-be managers among the IT ranks.
But the questions are usually of a rather black-and-white nature: Should I get one? Will it be good for my career? Will it be worth the money? Is it worth the time away from the workplace to do it full time? Are part-time MBA programs too hard to do while working full time? Is it worth going back for an executive MBA once I'm already in management? Click for Complete Article
