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The Day After... This placement 2000 was unparalleled in Institutes' history. A record number of students have been placed overseas. At IIMA and IIMC, over 27 students of each batch have been placed at New York alone in Consultancy and Wall Street I-banks. But does everyone knows what to expect in US when one joins, i.e. what happens The Day After ??? CoolAvenues team did this study for Business Today with inputs from 2 IIMA students of Class of 1998. It's a foregone conclusion that students with overseas offers are the top rankers in the batch. They would have been star performers in India - if only they had chosen to remain in the country. Here, it would have been assumed that these were masterminds "beyond compere". Incubation Period: But in US, Indian MBAs from IIMs do not start from their position of demi-gods. They start on an equal footing as with others. Rightly so because the top consultancies and Investment banks are selective recruiters and recruit only the best from the best B-schools across the globe. A few years ago when these I-banks came to India they recruited at a level lower than they did for US MBAs. But those initial students proved themselves in no time, and now some of these banks recruit at same level, says Nikunj Singhal, working as Associate with Lehman Brothers, New York. But some recruiters do recruit at a level lower. Justified rightly so because US MBAs enter B-schools with typically 3-4 years work-experience. Therefore, some of them have already done their initial round of experience gathering at I-banks (research, etc.) or back-end work in an consultancy firm. So it makes sense to have an "incubation period" where Indian MBAs learn the ropes first in research or other areas to become au courant. So Indian MBAs would do well not to expect trading or doing M&D deals after landing at New York International Airport. Salaries: Same goes for salaries. Initially in 1998, when foreign companies first came to India, there was a little gap between the salaries. Lehman Brothers for example offered $ 95,000 then . Bust as the first batch proved themselves to be as good as any other US MBA, the gap has logically disappeared. Lehman, at Placement 2000, recruited at salaries of $ 1,10,000+ which is as good as a US MBA's. Says George Mathew, Consultant at Exeter Inc., Los Angeles, "In the beginning, salary structures are exactly the same, the subsequent compensation reviews are very impartial. Bottomline is - if you work hard and communicate well, nobody cares about where have you graduated from." Contd...(more on job profile & assignments)
Read complete story of Placement 2001 as it happened along with analysis and comparison across the B-Schools and segment-wise analysis.
Read complete story of Placement 2002 as it happened along with analysis and comparison across the B-Schools and segment-wise analysis. Mail your comments at: webmaster@coolavenues.com |
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