Please elaborate on the persons behind Bangalore Management Academy.
The people behind the college have significant experience in the field of education, especially foreign education. Mr Robert Donison is the Managing Director at BMA. He is also Founder Director, LSC Group of Colleges, London which is a prominent private sector college in the UK. Mr Ajith Thacholi - Executive Director, BMA has in excess of 15 years of experience in education consulting. Mr Bibek Debroy is the Head of the Advisory Board at BMA. He is also an economist and columnist as well as Consultant, Dept. of Economic Affair, Ministry of Finance.
What are the various fulltime MBA programs offered at BMA and what are the important differences between them?
The MBA(I) program is offered in affiliation with Edith Cowan University (ECU), Australia and is targeted at fresh graduates. The program includes a three month internship at the end of the programme. University of Aberdeen, UK partners with BMA for the MBA program and all subjects in the program are taught by faculty flown in from Aberdeen. The Post Graduate Diploma in Business Management (PGDBM) is provided in association with Bharatidasan Institute of Management (BIM) and only students with two or more years of work-experience are eligible to apply to this program. The Twinning MBA course is affiliated to the University of Pondicherry while the Post Graduate Program in Retail Management (PGPRM) is associated with the Retailers Association of India (RAI).
Please briefly describe the course structure followed for the various MBA programs at BMA? What factors should applicants consider when choosing between these programs?
The fulltime mode of the ECU MBA consists of three terms of classes delivered over twelve months followed by an employability enhancement programme and a four month internship. The exams of final term of ECU are conducted at BMA but the question papers are set at ECU, Australia and also the evaluation and declaration of results is done by ECU.
The University of Aberdeen MBA consists of three terms of classes at BMA which includes a summer term spent at the University of Aberdeen.
The BIM PGDBM is a 15 month program conducted at BMA.
The course content and delivery of the ECU, BIM, Pondicherry University, RAI and Aberdeen MBAs are the responsibility of the accrediting universities. Students are thus able to avail of a degree which is the same standard as that offered at the home campuses.
What is the fee structure followed for the management programs at BMA? Are residential facilities provided?
The fee for all the fulltime programs is Rs 4.5 lakhs and students can avail of residential facilities in all cases.
Please explain the admissions process followed for admissions to BMA. Which entrance tests scores are accepted for admission to various programs at BMA? What are the cut-offs needed to be secured in each of these tests in order to get a call for GD-PI screening?
The minimum eligibility criteria for applying to BMA is an undergraduate aggregate of 50 percentage or above from a UGC recognised institute. The cut-off scores for entrance scores in order to be called for GD-PI are as follows: CAT a 60 percentile, XAT a 70 percentile, MAT a 85 percentile. In the event of a student not securing the above scores, he or she will have to take the BMA Aptitude Test (BMAAT) which comprises of aptitude and English tests. The test will be of a duration of one hour and will be held on the day of GD-PI. The goal of the aptitude test is to examine the problem solving and general awareness capacity of students and the English test is to understand their language skills.
How many applications does BMA usually receive for each of the management programs? How many seats are available in the programs and what is the number of students called for the GD-PI screening?
BMA offers 50 seats in each specialisation and the institute usually receives approximately 5,000 applications. BMA follows a selection process such that all students who satisfy the minimum qualification of 50% aggregate score in their Bacheloras degree and have the requisite percentile in CAT / MAT / XAT / BMA-AT will attend the GD-PI screening.
Please elaborate on the batch profile of students at BMA as far as undergraduate background and work-experience is concerned.
B.Com, BBA and BBS students make up 32 percent of the batch at BMA. BSc graduates constitute 27 percent of the students here while BE, B.Tech and BCA students make up 22 percent of the batch. Arts graduates contribute to five percent of the student body here. One percent of the students here are post graduates and students from other undergraduate course make up the remaining 13 percent.
Freshers constitute 80 percent of the students here. The next highest percentage of students consists of students with one to five years of experience and this percentage is 15 percent. Students with one year or less and those with five or more years of work experience equally contribute to the remaining percentage of students.
Are there any changes planned in the near future for the management programs at BMA? What in your opinion are the changes required for BMA to gain further prominence as a b-school?
BMA is getting ready to launch the University of Aberdeen MBA programme from the UK. This programme will be niche and only 30 seats will be available. All teaching faculty will be flown in from UK. The programme will also have a stint at UK. (check this deal)
BMA is striving to provide the best of education at affordable prices. The immediate aim of BMA is to cater to the complete class of population without compromising on quality of the programmes. Our constant endeavour would be to improve on our deliverables constantly and to provide the best of choice and opportunities to our students.
What is the maximum, minimum and average salary secured by the last batch of MBA graduates from the institute?
The highest annual salary secured by a student in the class of 2008 was Rs. 13 lakhs. The average compensation figure is approximately Rs. 3.50 lakhs and the minimum salary was in the range of Rs. 2.70 lakhs.
How have placements at BMA been affected because of the economic slowdown? What changes have been observed as far as salaries are concerned?
The only difference has been that recruitment has reduced by a high percentage. All students eligible for placements have been placed as far as the latest batch of BMA is concerned. In general, salaries have reduced and deserving students have not been affected much by the slowdown. Organisations are keen on taking trained students with the right skill sets.
How does BMA compare with similar-league b-schools such as SDM Institute of Management Development (SDMIMD) Mysore, International School of Management Excellence (ISME) Bangalore, Indian Business Academy (IBA) Bangalore and Alliance Business Academy Bangalore? What are the differentiating qualities of BMA as a b-school?
BMAas differentiating factor is that it offers programmes from different Universities in India and abroad. All courses offered at BMA are directly certified by the parent University. Development of soft skills and etiquette are an integral part of the programme as organisations are more keen on recruiting fully trained candidates rather than to train students after recruitment.
How is life outside of academics for management students at BMA?
BMA stresses on overall development of students here. Sports including adventure sports, clubs, cultural events are regular events at BMA. Students can avail of a gymnasium, a multipurpose hall which is used for cultural events, a seminar hall, a movie hall along with other sports facilities available at the institute.
Please elaborate on who is behind Balaji Institute of Modern Management (BIMM) and the principles the institute follows as a Business School.
Balaji Institute of Modern Management is run by Sri Balaji Society, a registered charitable trust under the guidance of Prof (Colonel) A Balasubramanian who is a writer and scholar. Prof Balasubramanian has earlier been associated with Symbiosis Institute of Management Studies (SIMS) and Symbiosis Institute of Business Management (SIBM). The school believes in being a training centre for MBA students and gives importance to women upliftment (50 percent seats are reserved for women). IT training is imparted as an integral part of the course to increase students' employability. Corporate interface in the form of seminars is also provided. The induction training is organised for 30 days to increase the student's knowledge about the industry.
What are the various full time MBA programmes offered at BIMM?
The various full time courses offered at BIMM are Post Graduate Diploma in Management (PGDM-120 seats), Post Graduate Diploma in Management in IT & Marketing (120 seats) and Post Graduate Diploma in Management Personnel Management & Human Resources Development (60 seats). Post Graduate Diploma in Management Executive (60 seats) is only offered to candidates with five years or more work experience.
What is the course structure followed for students in the PGDM (fresher) programme? What factors should applicants consider when choosing between these programmes?
At BIMM, a student can select their MBA specialization from Marketing, Finance, Operations & Supply Chain Management, Systems, Personnel Management and Human Resource Development and Banking and Insurance. Faculty at the school perform a SWOT analysis of students to help them choose the right specialisation. As per our experience, freshers in MBA schools do not have a lot of knowledge regarding these specializations. Therefore, a seminar is held in the school to explain to them all the aspects before they make a choice. They are also advised to make an informed choice according to their competence and ability at the time of selection interview. The students chose their specializations only in the second semester and thus they get a better idea of the industry and their own strength and weakness.
What is the fee structure followed for the management programs at BIMM? Are residential facilities provided?
A sum of Rs 2.5 lakh is charged as fee for the course per year which is required to be remitted in two installments. The residential facilities are provided to outstation students in the first year in the in campus hostel. During the second year, they have to stay at the flats located within a radius of one to two kilometers around the campus.
Please explain the admissions process followed for admissions to BIMM. Which entrance tests scores are accepted for admission to various programs at BIMM? What are the cut-offs needed to be secured in each of these tests in order to get a call for GD-PI screening?
At BIMM, all candidates with a first class throughout their academic career are invited for the admission process (this is relaxed for SC/ST students). Thus the school receives about 10,000 applications. There is no cut off score for CAT or MAT although a weightage of 30 percent is given to them. The MAT scores are converted to their CAT equivalent score. The Group Discussion holds 40 percent weightage while the interview holds 30 percent.. There is also an essay which carries 30 marks, one-third of which is added to the final marks of the candidate. Thus the final merit list is drawn out of 110 marks. 95 percent students exercise their choice for almost all the courses offered and get one of the courses according to a computerised merit list generated by their combined marks.
Please elaborate on the batch profile of students at BIMM as far as undergraduate background and work-experience is concerned.
The school has graduates from all fields (science, arts, commerce) with 40 percent of students in all streams being engineers. However, all the students in the IT and Marketing programs are engineers. This year ten doctors have also been admitted. Apart from the students of Executive MBA stream where five years of work experience is mandatory, most of the students are freshers with only around 10 percent with a work experience of six months to two years.
What was the sector-wise breakup of placements of the MBA program at BIMM? What was the maximum, minimum and average salary secured by the last batch of MBA graduates from the institute?
Amongst all sectors, the maximum placements in 2008 took place in the Banking (33.06 percent ) and IT (31.67 percent) sector. In 2009, in addition to Banking (27.40 percent) and IT (18.27percent) another sector that was a major player was Manufacturing with 12.98 percent students placed. The maximum and minimum salary in 2008 was Rs 11.5 lakhs and Rs 3.6 lakhs respectively while in 2009, maximum salary was Rs 15.72 lakhs and minimum salary was Rs 3.25 lakhs. The average salary was 4.84 lakhs in 2008 and 4.41 lakhs in 2009.
How have placements at BIMM been affected because of the economic slowdown? How many students stand placed as of now and what changes have been observed as far as salaries are concerned?
The economic slowdown has adversely affected campus placements. However recruitment is taking place and 600 students have been placed so far. The institute plans to place 300 more students before May 31, 2009, which is when the current senior batch will complete their course. Thus about 100 students specializing in Finance and System are expected to remain unplaced and strategies are being drawn to help them. As for salaries, Kotak Bank, Axis Bank and few others have reduced their compensation packages. However, companies like L.G Electronics Pvt Ltd., TVS Motors Ltd etc have increased their salaries. There is also a rise in the number of students being recruited from companies in FMCG and Pharmaceutical sectors. There has also been a maximum withdrawal of confirmed participation dates by many companies this year due to changes in the hiring plan made by their board.
The event lays emphasis on participation and aims at cultivating and displaying the varied talents and abilities of its students, added the release.
"The ten events at the festival will be- Ice Breaking, Best Manager, Marketing Event, Finance Event, HR Event, Business Plan, White Papers, Business Quiz, Best SIP and Cultural Episode," added the release.
ABS began its MBA program in 2007 and the 2009 final placement included companies like HDFC Bank, Club Mahindra, Accenture, Hindustan Unilever (HUL), India Infoline, SPA Capital, India Mart, ICICI Prudential, India Bulls, etc., the release quoted Anshu Kataria, Chairman, ABS as saying.
Arni University is establishing its campus in kangra district in Himachal Pradesh. It will offer degree and post-graduation courses in a number of fields, added the release.
You are reading part 1 of the series. Also read
Part 2 - How the IIMs execute the placements process on-ground
Part 3 - How companies save HR costs by recruiting from IIMs
The campus placements at the Indian Institutes of Management (IIM) are widely reported in the press in India and abroad. IIM placement news usually gets front-page coverage in all major Indian daily newspapers and is extensively covered in the major Indian financial dailies such as Economic Times, Financial Express, Business Line and Business Standard. IIM placements are also covered extensively in major Indian business magazines such as Business Today, Business India and Business World. Why is there such a high and growing level of interest in the IIM campus placements? Why are IIM placements considered so newsworthy? What perceived and actual information does an IIM campus placement report carry for the general public? Who are the various stakeholders that value this information and why? What signaling does the IIM campus placements provide to current and potential students, current and potential recruiters and the business community at large.
To understand these broader questions, we need to understand in detail how the IIM campus placement process actually works. We need to understand why major firms regularly participate in the IIM campus placements? We need to know whether the IIM campus placement process adequately satisfy the expectations of the graduating students as well as that of their potential employers? In other words, we need to understand how value is created in the IIM campus placements and who appropriates this value and how?
Placements at IIM
The IIM placements are conducted largely for the two year post graduate program in management at the IIMs. In recent years the executive programs at some of the IIMs have also been included in the campus final placements with a mixed response. The placement activity at the IIMs consist of three major activities a (a) the summer placements in November for firms to select first year students for internships in April-May next year, (b) the lateral placements for graduating students with substantive prior experience and pre-placement talks held during January-February and (c) final placements held during March for all the graduating students.
The IIM campus placement process has evolved over the last two decades into an effective and efficient system for both potential employers and the graduating students. It is a placement process that is probably unique worldwide. From an efficiency and effectiveness perspective, the IIM placements may represent best practice in campus recruitments among business schools worldwide, as they largely ensure that campus recruiters get the students they want and all graduating students get jobs, with almost all students getting the jobs that they want.
The basic campus placement process is similar across all the IIMs and is managed in a similar manner. It has undergone only minor changes in practice over recent years a these changes are usually shared across the IIMs for mutual benefit. The placement process is guided by an elaborate set of rules for both students and recruiters.
Organizing for Placements
The placement activity at an IIM is usually headed by a placement chairperson - a permanent faculty of the IIM who has been appointed to the administrative position by the IIM director in additional to his/her role as a full time faculty. This position is usually rotated among faculty with each faculty usually spending a two to three year term in that office. A faculty placement committee headed by the placement chair exists to look at larger policy issues and this committee usually has representation from one or more student placement representatives. All official communication to recruiters is normally signed by the placement chair who is also authorized to sanction all internal placement related expenses within an overall budget set by the head of the institution.
Since the placement chairperson is not a full-time administrator, he/she is assisted by a full-time administrator a a placement officer who manages the office, maintain contacts with all firms across the tenure of the placement chairs, maintain all placement records, follow up on placement dues, arranges for pre-placement talks by recruiters, manages their interviews as well as other campus activities of the recruiters. The placement officer is usually assisted by some placement staff. A placement counselor may also be available independent of the placement office to guide students in identifying firms and positions that match their career aspirations.
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Student Placement Representatives
Late in their first year, each IIM cohort elects a set of student placement representatives who act as a direct link between the graduating students at large, the placement chair and the recruiting firms. The major roles of the elected placement representatives are to get new firms that are sought after by the graduating students to recruit on their campus, to ensure that the existing set of recruiting firms continue to recruit that year, to facilitate the interaction of the company with students during pre-placements talks, to manage the placement process on campus and to ensure that all students of their cohort get placed in the final placements. They also take the responsibility of organizing and getting their junior batch placed for summer internships during the campus summer placements.
The work of the elected placement representatives starts immediately after their election in their first year, as they get involved in managing the final placement process of their immediate senior cohort during March. This is where they learn and understand the complex placement process while it is primarily managed by their senior batch. They also experience the placement process earlier during the first year as a participant when they go through their summer placements in November.
The essence of the IIM placement process in the two year post graduate program is that the senior batch placement representatives and volunteers handle the process for the summer placement of their junior batch while the junior batch placement representatives and volunteers handle the process for the final placement of their senior batch. This means that the core group of students including volunteers that are handling the placement process have no conflict of interest with the students who are candidates in that process. Senior batch volunteers who have done their summer internship in a firm often coach all the shortlisted junior batch candidates so that they can do better in their interviews with the firm a so that the batch can secure more offers from that firm. On the other hand attempts by placement volunteers to project their friends to a firm where they know the executives through their summer internship, is effectively controlled by placement representatives or on reference by the placement chair.
Summer Placements
Summer placements are an integral part of the curriculum of the two year post-graduate program at the IIMs. All post-graduate program students are required to do an internship of eight weeks or more during April a May between their first and second year. The summer placement process on IIM campuses is quite similar to final placements. The summer placements have gained importance in the IIMs over time as recruiters have found it increasingly worthwhile to select earlier from a wider range of student applicants and assess the student during the summer internship for making a final placement offer. If the student shows good performance during the internship, he/she is made a pre-placement offer that is counted by the IIM as a first offer that is activated when the firm participates in final placements. Some companies also conduct a pre-placement interview so that the student is shortlisted to appear directly in the final round of interviews when the firm is on campus. The summer internship has been taken more seriously by firms over time and projects given by firms that are interested in making a pre-placement offer are often more challenging. Such firms are usually sought after by students. Over time almost all recruiting firms in final placements have started to offer summer placements. Some small firms and start-ups that do not intent to participate in final placements may also participate in summer placements to get high quality interns for their projects. These projects from start-ups are attractive to entrepreneurial minded IIM students who intent to opt out of placements and be on their own on graduation.
Seeking New Recruiters
Seeking new recruiters is an important part of the activity of the student placement representatives. Students who are abroad or in major Indian metros during their summer placements are designated to make presentations to convince new firms to participate in campus placements a these firms are typically of interest to the graduating students, but have not participated in that IIMas campus placements so far. Some of them are past recruiters who may have stopped recruiting on IIM campuses for internal reasons. They also contact IIM alumni in these firms, if any, to persuade them to put internal pressure on their company to recruit on their campus. IIM faculty and officers who may have personal and professional contacts in these firms are also requested to provide the initial introduction so that the student placement representatives can contact them to invite them for participation in campus placements. Once, they are back from their eight week summer placements, all the elected placement representatives maintain contact with the new firms that they contacted and regularly follow up on their recruiting plans. Each elected placement representative takes charge of following up with a set of firms a both current and new.
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Each IIM tries to get new sought after firms to their campus every year and typically maintains secrecy about the new firms that they have been able to add that year. However, once a sought after firm has participated in one IIM campus, the other IIMs will usually contact and persuade it to participate in their campus as well in the subsequent year. Over time most major firms find it worthwhile to recruit at two or three IIM campuses rather than in a single IIM campus. This allows the firms to have a diversity of IIM alumni in their ranks and prevents the formation of single IIM cliques that typically form if one IIM group dominates. Over the years, the IIMs have been able to seek and retain all major Indian firms and a number of significant foreign firms for their campus placements as regular recruiters.
Placement Brochure
In consultation with the placement chair, the placement representatives design and prepare a detailed placement brochure that contains profiles of each student in the graduating batch, profiles of the core courses and electives that were offered in the post graduate program that year as well as general information on the IIM. All firms that have evinced interest in participation in campus placements in the current year as well as in the past and new firms that are of interest to the graduating students are mailed this placement brochure. The final placement brochure is the primary advertising vehicle for the graduating students to showcase themselves with firms. It also contains the application format and applicable placement fee structure. The brochure is also usually downloadable from the IIM website.
Maintaining Relationships with Recruiters
Once the placement brochure is released, the student placement representatives and the placement officer contact the potential recruiters to seek their confirmation for participation in campus placements. This requires sustained follow-up as recruiters may change their recruiting plans due to contingencies or alter the list of campuses they visit. The student placement representatives also build and maintain an intranet dossier on each major recruiter - these contain annual reports, scanned company brochures, newspaper clippings and web addresses. They also contain transcripts and videos of students who interviewed with that company in the past, recounting their experience immediately after their interview as well as of alumni working with the company giving feedback on their company during their campus visits. New placement representatives can use the dossier to get up to speed on each firm in their list. This dossier is the primary source for graduating students to build their initial interest and awareness about the firm and their inclination to apply to the firm for placements. This dossier also helps the students prepare in advance before attending the pre-placement talks of the firm a so that they can ask pertinent questions during the talks. It is also invaluable as a guide for preparing for interviews during campus placements.
Part 2 - How the IIMs execute the placements process on-ground
The survey includes open-enrolment as well as custom-designed programs. It is based on the satisfaction of participants and businesses. It ranks on the basis of sustainability and quality of the program in regards to its offerings and faculty, added the release.
Further, HEC is ranked first among b-schools in Europe and has acquired second spot worldwide for faculty, customization of programs and likelihood of participants to go back to HEC for the same program, added the release.
Mr. S Maitra was quoted in the release as saying, "Maruti rolled out its one component, one gram programme, getting each vendor to make its component or sub-component one gram lighter without compromising functionality. Maruti expects to save Rs 10 crore on annual sales and hopes to share it with vendors." He believes, without cost reduction, one can not ask for price reduction.
Further, he shared, "Marutias domestic sales are expected to benefit from a good demand in rural areas like last year, and to push our sales, we will recruit more to our 2,500 rural dealerships sales executives (RDSEs)." Maruti plans to spend Rs 1,800 crore in the current fiscal. This is part of the Rs 9,000 crore investment spread over 2007-2011 the company announced earlier.
The interaction took place as a part of the ongoing leadership series which is constituted in the program at the institutes's Noida campus.
The program is based after a study of 19 organizations from HR, sales and operations professionals. The program has three offerings, APBS (two year program for 10+2 students); GPBS (three year program for 10+2 undergraduates and PGPBS (two year program for graduates), added the release.
"This program has been designed so that a student can complete it along with MBA in Applied Management in 2 years or a BBA in Applied Management in 3 years. The program can be pursued along with regular management program and will enable students to be market ready," the release quoted Mr. Muralidhar Rao, President and COO, NIS Sparta as saying.
The program claims to use learning methodologies like mobile learning, webinars, expert talks through webcast etc besides traditional techniques. For more www.thenisacademy.com
The one-year weekend post-graduate diploma in Patent Law & Practice course begins on July, 18 and aims at providing thorough information on patent laws to scientists, technologists, and lawyers, added the release. The program claims to go beyond the conventional teaching methods to include raining in searching, drafting, opposition and licensing of patents.
The other courses include a three-weekend patent basis course and a ten-weekend patent searching and drafting course, added the release. For more, www.iips.ac.in
Change in format
It is not just the
logistics that make the CAT 2009 more
than just the competitive exam that it has always been. It is the whole
new
interface (in the form of computers and not paper) which is the real
cause of
worry; comprehension power being higher on the paper medium than on
online for most
candidates. Sections like reading comprehension (RC) and Data
Interpretation
(DI) would become difficult to attempt with the absence of a handy
pencil to
make a mark here and a line there. The general psychology of students
of being
anxious in an online environment for tests would also work against
them. Most of the candidates think it would be unfair
to students who are good at fundamentals of the test but are not
friendly with
the computer. Each one of them is of the
opinion that it puts students in the remote corners of the country at a
disadvantage. Jaya Sawnani, a software engineer preparing
for the CAT at T.I.M.E., Lucknow speaks about the students in the
institute from
Unnao and other adjoining areas. aThey find it difficult to even check
the
answers of the CAT classroom quizzes conducted by T.I.M.E. on the
coaching institutes's websitea. One
cannot expect such students to be at par with candidates in the metros
for whom
computers is a way of life. Like Joel James
Menachery, a student in Mumbai for whom the online format is a welcome
thing
since he spends most of his time reading on the Internet . People
across metros
agree with him, although some do say that surfing social networking
sites like Orkut and Facebook
for hours hasnat given them the training
they would need to attempt an online exam.
Inevitability
Many, like Srikanth Balasubramaniam, faculty at IMS coaching
institute for CAT and also an MBA aspirant, believe that this is the 'prelude
to where we would be heading' in terms of technology and general advancement. According to him, since the MBA world is all
about working with computers and technology, there is no harm starting early. Also since the CAT is taken by such large number
of students, it might lead to the development of the remote corners of the
country to bring the candidates at par with the CAT criteria. Where there will
be a market there will be takers right?
Numbers
Will the high difficulty level of CAT, increased form prices
combined with the fact that it has gone online reduce the number of people appearing
for it? aNot reallya says Nand Kumar, faculty at Career Launcher, Mumbai. The high return on investment in an MBA from
a prestigious B-school would keep the candidates coming in. However, according to Malvika
Bhatt, a Sales and Marketing executive in Mumbai, the CAT from 2009 would become a 'serious affair',
with students without adequate preparation opting out of it.
Focus on the fundamentals
It might seem dark right now in the CAT world but if 'online'
is what is giving you sleepless nights, there is not much to worry about. aYou just
need a dedicated schedule of computer practice to become familiar with the
computer,a says Kumar. Since the exam requires the knowledge of basic functioning
of the computer (keyboard, scroll up/down functions) and the mouse, there is
not much that cannot be learnt till the D-date(s) of the CAT at the end of the
calender year. Also till more details regarding the methodology of the paper come
from the IIMs, keep working at the fundamentals, they are the real clinchers.
The event saw participation and interaction between alumnus, second year students interning in these cities and the new batch of 2009-2011, added the release.
The meet was partnered with State Bank of Indore and was aimed as an ice-breaking session for the new batch besides as an alumni meet held in an informal manner, said the statement.
You are reading Part 2 of the series. Also read
Part 1 - How are IIM placements planned, how the placement committee is elected
Pre-Placement Talks
Most regular recruiters conduct
pre-placement talks on campus in the December to February period. The
pre-placement talk is an important medium for the top management of the
firm to gauge the interest level of students in their firm. They also
make a quick assessment of the overall quality of the batch through the
quality of the questions that they ask a this at times may influence
their choice of campuses to participate in, or the numbers of students
they plan to recruit at that campus, if their recruiting requirements
are likely to be less in that year. The recruiting firm usually gets
alumni of the immediate senior batch of that IIM to join the team for
the pre-placement talk. These alumni usually reach campus a day before
and interact with the students at large to generate greater interest in
the firm. They also informally answer questions about the firm that may
not be appropriate to ask in the formal interaction with top management
during the pre-placement talk. To attract more students some firms
provide snacks and collectibles to those students who attend their
pre-placement talk. The placement representatives interact with the
visiting top management team to resolve any issues related to
placement. Some firms make their presentation material available to all
students through emails or links to their websites.
Major
recruiting companies are usually interested in extending their
relationship with the IIM that goes beyond recruiting. In some cases,
IIM faculty are invited to interact with the visiting team to discuss
matters of mutual interest a such as research projects and case
writing. Other interaction modes can take range from giving talks to
students and faculty, to conducting workshops in their areas of
expertise, initiating research projects and instituting research chairs
at the IIM. These initiatives help the firm in creating a larger
presence on the IIM campus that may indirectly influence student
choices of the firm as a potential employer over time.
Processing Resumes
Once
a firm confirms its participation, the student placement
representatives collect single page resumes in a common format from the
interested students and these resumes are forwarded by the placement
chair to the company. Some firms require web based applications but
students are also required to register their application with the
placement office. Resumes are crosschecked by the placement
representatives to ensure that the grades stated by students match
official records and that all students have documentary evidence to
support every statement that is made in their resume. This ensures that
students do not exaggerate any record or achievement on the resume to
improve their chances of being shortlisted at the cost of other
candidates who may have better achievements. This processing is
time-consuming but is essential to ensure fairness in the process.
The single page resumes in a common format helps in faster processing
before dispatch and also considerably reduces the time taken by the
company to shortlist candidates for campus interviews. The resumes are
carefully designed by students to be effective and each batch provides
considerable help to their junior batch to make sure that every resume
in their batch is as impactful as possible.
Shortlists
Once
the applications are received by the recruiter, they announce their
shortlists as well as their recruitment process requirements and this
information is used to schedule their recruiting activity within their
allotted time slot. Recruiters differ significantly in the short
listing process that they follow. They need to maintain a balance
between the number of students they shortlist and the time that they
can devote to the interviews and other selection processes. Several
firms recruit simultaneously in a time slot but offers can only be made
at the end of the allotted time slot. The time slot is usually adequate
for all firms to comfortably complete their process. Some firms
shortlist primarily on IIM academic performance while others include
prior experience and prior academic performance. In general consistent
performers and all-round performers find themselves in multiple
shortlists. Some firms even shortlist on the basis of feedback from the
IIM alumni who have joined their firm in the previous year - this may
result in some of the friends of the alumni being shortlisted. Some
firms may give a higher weight to some factors and release a list that
is substantively different (with low overlap) from other firms in their
slot. This eases their process as many of their shortlisted students
are not engaged in processes of other firms in their slot. The short
listing process adopted is often a contentious issue as many promising
and interested students may never get a chance to interview with the
firm of their interest. If there is a clear mismatch or the short list
is too short, the firm is given some feedback and requested to revise
their list or add more names to their list.
Slotting Process
Once
all the pre-placement talks are concluded, the student placement
representatives conduct a survey of the graduating batch - asking them
to rank the participating firms that they have applied to in descending
order of priority on their individual interest in joining the firm.
Based on this survey and factoring in the number and quality of offers
made by the firms in the past, their acceptance rate in previous years,
and promised offers in the current year, the student placement
representatives prepare a slotting order for the firms that have
confirmed participation that year. This slotting is finalized in
consultation with the placement chair and the placement officer and
care is taken to balance the number of offers in functional areas
within a slot, so that students seeking specific functional
specializations are not left with very few options within a slot. Firms
that are slotted higher are the ones most sought after by all students
a and especially by students with relatively better prior work
experience and better academic profile, as well as firms that are
likely to make higher number of offers that get accepted. These slots
are relatively sticky across years and are usually consistent across
the IIMs except in the case of new recruiters. The recruiters are then
informed of their slots by the IIM, which is an important feedback for
them on their campus reputation. Firms may bargain for higher slots
than that given and some may opt out at this stage.
Roll Overs
While
an IIM student is not compelled to accept the first job that they get,
the slot system ensures that the more sought after students who get the
offer of their choice in an earlier slot, drop out of the process and
do not compete in the next slot with those students who have no offer
at that point. Fair choice for those with an offer in hand of lesser
preference is achieved through a system of "roll-overs" that apply to
all students in the process. A student who gets his/her first offer (or
gets a first set of simultaneous offers) in a slot can either opt out
of the placement process with his/her offer of choice, or has the
option of keeping that offer in abeyance and "rolling-over" to the next
offer with a select set of firms in the subsequent slot. The
aroll-overa option is given only on the condition that on getting the
next offer, the student automatically forgoes the previous offer that
is being held in abeyance. Thus, the "roll-over" system does not
restrict any student from interviewing with select firms in the next
slot, even if he/she has an offer on hand. However, it creates a strong
disincentive for the student to go further in the process, unless
he/she clearly prefers the next slot firm over the current offer on
hand. Less preferred overlapping offers have to be rejected at the end
of a slot so that the waitlists can be activated. No student in the
process can hold more than one offer on hand while moving to the next
slot. A pre-placement offer from the summer placement firm is counted
as a firm offer that is activated in the slot of the firm making the
offer during final placements.
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Lateral Placements
The
lateral placement process at the IIMs allows firms that are only
interested in candidates with substantive experience (over two years)
to recruit them for higher than entry level positions at during
January-February in advance of the final placements in March. The IIMs
usually have about half to a third of the two year postgraduate program
batch with two to five years experience who participate in the process.
The lateral process is more relaxed than final placements a since fewer
firms are on campus at any time and the firms can also invite the
candidate to visit their headquarters for a final interview round.
Lateral offers are usually activated before the start of placements and
this is a deterrent for non-serious candidates from receiving an offer
and thus losing a aroll-overa. This often results in fewer but more
serious applications to firms participating in lateral placements. Some
firms that offer both entry level and higher level jobs may opt to skip
lateral placements and appear only for final placements where the
entire batch is available.
The IIM final placement process is
best suited to the requirements of the graduating students of the two
year post graduate program. However in some IIMs the lateral placement
process has been used to place participants of the one year executive
post graduate program who usually have substantial prior work
experience of over five years. This has had mixed results at some of
the IIMs. A benefit of this clubbing has been that more firms
participate in lateral placements as each firm potentially has more
candidates with substantive experience to choose from. However given
the higher experience of executive post graduate program participants
at the IIMs, often in a limited range of industries, fewer firms may
find them suited to their requirements. Also conflict of interest
cannot be avoided among participants in the one year executive programs
where each batch has to handle its own placements. Also they may lack
the transfer of know-how from their senior batch.
Reducing Job Losses
Since
students who get an offer in an earlier slot can roll-over to take an
offer in the next slot resulting in a wasted offer a or a "job-loss",
the placement representatives are keen on ensuring that the more sought
after firms in the batch are clearly slotted above less sought after
firms. Since simultaneous offers to the same student within a slot also
creates "job losses", the placement representatives are keen on
ensuring that too many firms and too many similar firms are not slotted
together. Thus the attempt is to maintain the job acceptance to job
offer ratio as close to one as possible. More offers not accepted,
reflects poorly on the placement representatives ability, rather than
on the availability of greater choice for students in the process as is
usually reported in the media. Job losses are typically more expensive
in the earlier slots where the firms may be more selective and better
offers may be lost. In the later slots, job losses are less expensive
and are sometimes inevitable in the last slot as the last few students
in the process secure multiple offers.
Firm often bargain for
a better slot and may opt out of participation if they do not get the
slot that they believe they deserve. However, they are usually
persuaded to agree on the ground that if they participate in an earlier
slot, they may find most of their offers refused by students who may
get better offers from their more preferred competing companies in that
slot. This is counter-productive for both students and the firm and
results in wasted efforts on both sides. However, in their appropriate
slot, the company interviews only those students who do not have an
offer as yet, or have "rolled-over" to their company because they
prefer it over the offer they currently have. In either of these cases,
the company is less likely to waste its time with candidates who will
eventually not join. It also has a better chance of getting selected
candidates to join them and stay on in their company - since they have
already tried their chances with their higher preference firms, if any,
in the previous slots and failed to secure an offer. When firms are
slotted appropriately and the slots truly reflect the cumulative
student preferences, the IIM placement process tends to benefit both
firms and students. Sometimes firms dispute their slot and refuse to
participate. Acceptances of offers in a slot are usually communicated
after the placements conclude, unless all students offered by the firm
have clearly accepted or rejected the offer and not held in abeyance
for a aroll-overa.
Campus Placement Logistics
The IIM
campus placement requires complex logistics to ensure that required
candidates are available in time for their recruitment process with the
firms that have shortlisted them. Placement logistics are entirely
handled by the placement representatives and student volunteers of the
senior batch in summer placement and of the junior batch in final
placements. Placements are usually arranged in a single complex so that
students in the process do not have to walk too far between interviews.
The volunteer students are divided into teams a one that handles
reception and centralized allocation of recruiting teams to rooms in
the complex, one that updates the data on offers, acceptances and
sign-outs, one that tracks students within and outside the complex and
one that arranges for refreshments for the recruiters as per their
requirements. Recruiting slots run for twelve to fifteen hours at a
stretch and these volunteer teams operate continuously for this period.
Each recruiting team also has a student volunteer with them for the
entire duration of the slot. Floor and room tracking of candidates is a
task that is best done by student volunteers who know their junior or
senior batch by name and face. The core team leaders and tracking team
communicate with each other on walky-talky sets in broadcast mode so
that every student can be located within the placement complex. IIMs
are also exploring technologies such as an RFID tag on each student to
enable their tracking as the pass scanners. During final placements,
students who are placed early or have accepted their pre-placement
offers, get involved in organizing and managing placements for the rest
of the batch. They also counsel and support their batch mates before
and after interviews.
Closing Placements
The IIMs have
over the years been able to place their entire graduating batch during
the final placement week. This is a remarkable achievement across
business schools worldwide and is even more remarkable in the years
where the demand for graduating students is low. The closing of
placements is not an easy process since the last few students are
facing the last few recruiters who may not find the match that they are
looking for. In a good year, there are more recruiters at IIM than
available students and recruiters typically do not like going back
without making offers. Thus even the last few students may have
multiple offers to choose from. In a bad year, the regular recruiters
may be fewer and they may make fewer offers. To cover the shortfall,
the IIMs seek to draw more recruiters from a wider range of industries
to recruit. Typically these firms are those that have dropped out of
the IIM placements over time since they did not get the required
candidates but see an opportunity to recruit again in a bad year given
the lower competition in that year. Sustained efforts to draw more
recruiters to campus in a bad year has helped in ensuring that all IIM
students are eventually placed, but it may result in some of last few
students getting offers that are below expectation. However a bad year
typically creates lower expectations among students, and having a job
in hand through campus placements helps these students to eventually
move to firms that match their expectations either immediately or later
when the job market becomes buoyant.
Part 3 - How companies save HR costs by recruiting from IIMs
The event hopes to bring together around 1,000 alumnus of the school. "The event is a platform to acknowledge the contributions and achievements of all alumni besides meeting old buddies, making new ones, rekindling relationship with the campus, engaging with students, meeting faculty, industry champions and having a great time together," the release quoted Rakesh Godhwani, alum from PGSMa04 and head of IIMB alumni association as saying.
"The alumni plans to discuss the road-map of the alumni activities planned for the coming year and review the activities undertaken last year followed by entertainment and interactive fun sessions," added the release.
"Management teachers, for whom the training is designed, need to carry out their own research as well as guide students, for this they need to be skilled in research designing, development of research instruments, data analysis techniques, and statistical software application," added the release.
The keynote address would be given by experienced trainers from Indian Institute of Management (Lucknow), Institute of Rural Management Anand, Delhi University, Management Development Institute (Gurgaon), etc., said the statement.
Dr. M. Rathinasabapathi, Registrar, Annamalai University and Mr. Kamlesh Vyas, Director, FISB signed the MoU at the university in the presence of Dr. S B Nageswara Rao, Director and Dr. M. Ramanathan, Vice Chancellor of Annamalai University, added the release.
Annamalai's programs are recognized by the Ministry of HRD, Government Of India under the UGC Act, stated the release.
The seminar had discussions and speculations on the format of CAT online. Mr. Sandeep Manudhane, founder chairman of PT Universe was quoted in the release as saying, "Since IIM is starting online CAT from this year, itas unlikely that they may introduce the adaptive method. They are yet to decide whether the candidate will get one question at a time or a series of questions. The time limit might be similar to previous years."
He further added that, "PT's Gyandhara can be used by students at the institute and also can be accessed from home and queries will be resolved anytime." The seminar was also addressed by Mr. RaviPokharna, Delhi Head, PT Education.
With Indian business schools commencing classes from June onwards, this is the time for MBA aspirants to relax and realise. It is not a crime to expect good things to happen but b-school aspirants often have unrealistic expectations from the corporate world. A handsome salary package of Rs 9 to Rs 15 lakhs per annum and a good work profile are some of the justified expectations from a good b-school. Engrossed with thoughts of lucrative salaries and dreams of scooting up the corporate ladder, students either do not realise or prefer to not think about the hard work required. The jury is still out on the global financial crisis and it is unrealistic to expect good to happen in the current situation.
As far as the current market scenario is concerned, students should clearly define their expectations from the MBA program. Students should ask themselves the question - aWhat do I expect during and after the two years of study?a. Writing the answer and then discussing it with college seniors or alumni might give you a more realistic picture and you may be surprised by the results. Unknowingly, an aspirantas expectations play a vital role in deciding a b-school.
What you should do at business school.
Life at business school
Now that you are enrolled at MBA college, it probably comes as no shock that those bleary-eyed undergraduate college days of rolling out of bed just minutes before a ten o'clock lecture are over. A few small changes in the way you think and behave can make a world of difference in your overall enjoyment of the MBA experience. Enjoy this experience as you shouldait's the key to the life you deserve! More than books and lectures, an MBA is about building networks and relations which can help you with work and its management, learning from a diverse set of peers, future jobs and helping the network nodes in return.
First, before you begin any graduate program, be sure you can afford to do so. Whether you have saved money or are subsidizing your education through some other means, remember that simplifying your budget now means fewer worries later. Cancel that gym membership that you're paying for every month a it is more than likely that there is a gymnasium on campus which is free or inexpensive for students. Cut down on expenses like watching movies or shopping for a few extra points on your credit card until your MBA expenses are clearly delineated. For that matter, be very critical from now of entering into any agreement that requires an additional regular payment. If you are funding your MBA with help from your parents or an educational loan then it is more than important for you to keep a check on your daily expenses.
Balance your time extremely carefully. One of the biggest considerations in successful higher learning is stress management. Besides the obvious factors that play into stress such as diet, sleep, exerciseathere are equally crucial skills to incorporate. These include allowing yourself small pleasures and being honest with yourself and those around you about your ability to cope. If you find yourself flailing, even momentarily, lean on your support network. Remember that help is never far but in order to get it you must ask.
As an MBA student, I strongly feel that B-schools also need to introduce to their students some of the critical elements that invariably determine oneas success in the corporate world. A critical element that B-schools miss out on is the art of perception management. If you think your rise up the corporate ladder is determined solely by how well you do your job then you are mistaken. Whether it be plum postings, high grades in the annual performance appraisals or even offers from other organisations, individual perception is crucial a in some cases, it may even make or mar your career. Some of the common determinants of success are - how you project yourself in the organisation, how you communicate with peers, juniors and seniors and even how well groomed you are. These are qualities which a b-school will not teach and you will have to learn these during your MBA.
Managing across cultures and boundaries; coping with difficult times, an unreasonable boss, a mid-life crisis or a layoff and other similar real-life situations may not come easily to everybody and this is where guidance from the networking and seniors could help.
It is important to remember that you are a representative of your MBA program in addition to a representative of yourself and your classmates. A certain level of accountability is required of you throughout the program relationship. It is your responsibility to maintain the network for others and your benefit and not only for the latter. Learn about specific jobs, career paths, organizational cultures, and industries. Receive constructive feedback about personal and business skills. Obtain guidance about conducting yourself in business settings. Finally, create a career plan with your network and work towards achieving the stated goals.
Students need to understand the industry they want to work in, as well as the individual companies and their competitors. They must understand what the job is and be able to convince a prospective employer that they can do it on a daily basis.
A B-school education is the critical minimum effort required to make a meaningful education in the world of business. It is the first important step, but certainly not the last.
Important issues for MBA graduates
A majority of MBA students view their degree as a means to a desirable job. How is a desirable job defined? According to a survey done in the year 2003 on 2000 MBA students in US, UK, India and Australia, a good job includes (in order of importance) 1. Interesting work 2. Good chances for promotion 3. Opportunities to develop abilities 4. Competent co-workers 5. Fair promotions 6. Enough authority 7. Good pay 8. Job freedom 9. Job security 10. Concerned supervisor. B-school accreditation status (AICTE or UGC and other bodies) and admission competitiveness are related, though not strongly, to the salary of students. Students studying in unapproved colleges consider a high salary as their most important concern during their MBA.
For fresh graduates, the expectations lie between good work profile and good salary package. However, MBAs with work-experience attach somewhat equal importance to all the points stated above. For some students of the latter group, MBA is also related to changing the current employer and current position. There are not many who wish to change the field of work and this is not suggested either.
In the current economic situation, going for an MBA or any other post graduate degree is a good idea only when one is not happy with the current job, worried about more lay-offs or is without a job. According to many experienced managers and professors at reputed b-schools, it is definitely better to take a break and improve skills rather than stick to a job that threatens you every day. Further studies are advisable for fresh engineers and graduates who are still waiting to join software and electronics firms. It is not justified to expect a salary of above Rs 10 lakhs from an average b-school. However, salaries after a b-school depend on several factors including work experience, knowledge and reputation of the college.
If you have secured admission in any of the top seven-fifteen b-schools of India then salary should not be a concern. However, if the reputation of your college is between ranks 16 to 30 then it is time for you to put in an extra 20 hours a week to cope with this fact. If the college is not included in the top 50 then you will have to work together with your college and your network for a secure future.
Irrespective of a collegeas ranking, you can succeed by covering it up by adequate hard work and combining it with a proper industry interface. An MBA gives individuals a set of general management skills that lasts for a lifetime. This broad training transcends location, time and job type, and enhances current focus and specialization.
Satyam Gambhir is a student of the class of 2011 at Symbiosis Institute of International Business, Pune (SIIB) and graduated as an Electronics and Communication engineer from Apeejay College of Engineering, Gurgaon. Prior to enrolling at SIIB, he spent two years as a Manager Training at a software firm. He blogs regularly and has written in the past for business magazines. You can reach him at [email protected] and provide feedback and suggestions.
"This MoU is primarily aimed at developing R&D; programmes; expanding knowledge and expertise in the field of research, fostering scientific cooperation through bilateral exchange visits of scientists and students, and other collaborative activities in accordance with the statutory requirements set by Council of Scientific & Industrial Research (CSIR) or governments of both the countries," added the release.
Dr Pritam Singh, Murdochas Emeritus Professor of Chemistry was quoted in the release as saying, "The MoU was timely as both governments are keen to strengthen economic and research collaboration ties." Both the universities had previously worked and also currently working on several collaborative projects, added the release.
The reason for this increase being the belief that the Indian economy will revive soon and will emerge as a market full of opportunities in diverse fields like entrepreneurship, social, corporate, academic, etc. and attracting international students to try new ideas and approaches, added the release.
This increase is also a result of the total intake of students increasing by 137 to have an intake 579 students in the 2010 batch. ISB claims that it has 45 students who have rejected admission offers from international B-schools like Duke, Yale, Northwestern, LBS, Oxford etc.
The event was inaugurated by Dr. C. S. Venkataratnam, Director IMI, and Dr. Nagaraj Sivasubramaniam, Chair Leadership, Ethics and Global Business Division, Duquesne University. The view of having sustainable development in Indian business and meeting the needs of future generations was backed by Mr. Viraf Mehta Chief Executive, Partners in Change and Mr Bharat Wakhlu, Resident Director, Tata Group, added the statement.
Dr. C. S. Venkataratnam was quoted in the release as saying, "Social or environmental challenges need to solved sustainably. Indians have sustainability in their roots and that needs to be searched, thus it's important to blend ancient and modern culture."
The participating students debated on sustainability in the Indian context compared to USA during the course of the seminar. The Duquesne university and TERI university have already come out with MBA programs in sustainable development for imparting planned growth, ethics, environment concerns, value creation etc., added the release.