Forever, we have heard the arguments on why the Indian MBA is glorious because of the job opportunities it provides, or why it is terribly flawed because it admits freshers.I have been at various times, on both sides of the argument. And finally, I feel I am able to offer a stronger argument for why the fresher MBA is a boon to the average Indian student.Of course, one can quickly point out that I belong to this category, for I went to IIMA, having graduated in Engineering, from BITS Pilani.To this end, I must say at the outset, that it is indeed my view, biased as it may be. And may I add, that I donot deny the several merits of the MBA post work experience.
So, I was contemplating when I was 17, about majoring in Advertising or Marketing. I know of several friends who thought similarly of Finance. However, the reason why most of us still pursued the glorious "one size fits all" engineering course is the following -
- Parental pressure, as you may call it, to this day, in most Indian families deigns that the BE is a natural progression after Sciences in class 12
- It is the course with the most seats on offer, making the odds more favorable- Most importantly
- Most people look around and find there is really no quality Business Program at the Under-grad level, and decide to come to it after the BE
- The knowledge that the IIMs are biased towards picking a largely engineering class is the icing, though that is somewhat a chicken and egg issue
All valid reasons, to my mind, and mostly advantageous. An engineering course is 4 years, of which at least 2 are flexibly designed in most colleges, to allow students to pursue diverse interests. A small digression - for those purists who believe this is abominable, for engineering is a highly specialised course, I'd like to point out how most students today use Engineering courses as a tool to build strong analytical and problem solving skills, and a stepping stone to more opportunity to challenging studies - be it the MS or PhD or MBA. And I see nothing wrong with such an agreeeable end.
Coming back to the MBA that follows the BE: At the end of 4 years, people are either frantically pursuing the CAT coaching, or the GRE version. So, why does someone pick up the MBA at this stage?
- It's available, and a lucrative option, for starters
- It's a great course (IIMs) and in an area of interest to most people giving the exam
So, the perception is indeed true that in India, the MBA is looked at as an extension of school, and another course to extend the portfolio, instead of a year of networking, and sharing of business learnings from a live environment.My answer to this is, why not? May be it's a misnomer. Call the MBA what you want, just another Finance / Marketing / Starategy course rolled into one? Fine. All I know is that it serves the purpose. A quality course like that from the IIMs teaches you well, and gets you a good job.
So, the IIM MBA fetches the same jobs as one from Harvard or Wharton? Not entirely.When you join a top notch investment bank or Consulting firm, straight out of one of the Ivy Leagues, you're taken in as Associate / Consultant ranking = ~3 years into the firm, at about 27-28.
When you join the same firm with an under grad degree, you're an absolute fresher, starting at the very bottom at year 1. You're likely 21. When you join one of these firms from an IIM, likely you're given the advantage of an MBA, but the disadvantage of no work ex, and so you end up somewhere in the middle- 2nd year Analyst (1 year into the firm) or 3rd year analyst (2 years into the firm).To my mind, it's a fair deal, as long as you're given a bit of both, the deal for a quality program, and the cut back for the lack of experience. But most people tend to overlook this.
Move on to the new era now. Over the past 2 years, the number of Associate offers made to IIM graduates has steadily risen. This turns the theory on its head? Not quite. A couple of factors drive this -- Not every bank / consult has done it yet...it's just the beginning- Likely, only the banks that employ for the markets can do this, primarily because the skill increment from one level to another is relatively lower- These offers are still largely made to students with some work experience; however, this year has been the big difference - Associate offers to fresh students
That last bit really does change the story. So at 23, you could, out of an IIM potentially be doing what a Harvard grad could get to at 28. And why not? Who cares how you or I define the MBA! The markets jobs look for specific skill sets they find ideal in your average engineering background under grad Indian, and they're willing to bet on him to see it through.So, purely in terms of NPV, the IIM offer is tempting. Oh yeah, you can count in the millions saved in fees.
More importantly to my mind, in the way the Indian job scene works currently, the IIM degree is your best shot at a supposedly "high-flying" job, from India, primarily because like I said earlier, no quality Business programs are on offer at the under grad level.
So, let's set aside the I-Banks and consults. What about a regular MNC offering multidimensional managerial roles. My argument here is that most of these firms recruit for their India offices. These have tailor made programs to absorb the average fresher MBA, and are designed keeping him in mind. The ascent is desgined to be for someone straight out of school, and woth no work experience - that has traditionally been their pool, and they're quite happy about it! So who exactly complaining?!
Bottom line - Comparing the Indian MBA to the Ivy-league is not really apples to apples. And at the end of the day, in wither case, the ends seem to well justify the means.
Of course, this piece doesn't entirely capture all the points I hope to make. And perhaps, I will follow it up, with more constructive arguments to support the same. However, it does contain some facts, and attempts to offer perspective. And in the end, it really is quite from the horse's mouth!
Sunday, December 31, 2006
New year cheer ...
The regular blog feature at this time of the year is perhaps the round up. And I am attempting mine as well. Perhaps, that really is the biggest reason why a new year’s eve must remain larger than life – just so that each one of us can take stock of life, like we lived it in the past 365 days. Now why 365 may be a good question at this juncture. Let’s just say it’s convenient and a common milestone, so easy to benchmark.
Having rested my case on why write now, I proceeded to think about why I was writing at all. It’s definitely not a habit, nor a ritual or a tradition passed on. No one really is going to read what I did with my life in the past year and feel particularly elated or depressed, or smaller or bigger. Nah, my life hasn’t been life changing to anyone at all, perhaps, anyone except me. There it was! That is why I write! Optimistic me feels there is enough to put on record, enough to look back and feel happy about, definitely enough to look back and regret!
I made the great transition this year – from student to corporate junkie. To my mind, it’s significant. I wonder why the 4 ashramas of the Hindu faith didn’t consider this one as big as the others – perhaps it is enshrined in the getting married after studying one – you’ve got to feed a family or whatever, right? Anyways, to me, it’ll remain one of those moments, or periods, more likely – when I stepped out quite literally from the sheltered yellow run down walls of Pilani and then the staid red bricks of Ahmedabad into the work life.
As many variables as could change, did. My first job, my first job outside my country, my first brush with consulting, my first brush with my firm, my first time in a city with no close friends around to lament about everything to, my first travel like mad job, etc. etc. And what a roller coaster ride it’s been! All that yada yada about learning every day, is quite true fellas, and learn I did! And whether I chose to or not, rather quickly! There were other firsts as well – living in 5 stars, travelling business class when I got lucky, actually being able to shop in the duty frees, using the taxi recklessly (and hoping for a Mercedes cab each time …) – little joys in life, I guess.
I travelled, and how, especially given my mostly non-flying past. I am glad I did, and then not so much as well! So now, at the end of 2006, the US (NY, Chicago, and Boston), Vietnam(Hanoi). Hong Kong, Thailand(Bangkok, Pattaya, Hua Hin), Singapore(well, I could list the neighborhoods) are ticked off. I could’ve done more, and then I could’ve done less. So, that part of the work-be23/24-and-do-random-travelling worked out well, I guess.
On the personal front, Hari and I crossed the one year milestone – super kicked about it, and well, still smitten and touched. He moved to Singapore from London, and I can’t wait to finish on my project in Bangkok, and hope to work out of Singapore next. It’s funny – in one year, we’ve made the transition from having no money and all the time, to having all the money, and no time! Guess life’s like that.
There are other little things, like hunting down and renting a house I share with Megha and Parijat; bickering over provisions and other groceries; paying bills, bills, and more bills; and living the whole Expenditure expands to surpass income theory. At the very end, I am well-equipped with a long list of New Year resolutions on that front!
Now, I guess it’s time to move on from being so self obsessed! A lot of things happened to the people I love loads – Reddy got married right at the start, in February. She’ll stay my absolute darling, and I’ll never be more glad than when amazing things happen to her! So did Apu, to her PS sweetheart – how cute! And then Tikli in December – the first from the IIMA gang – wild times in Chennai, and a picture perfect wedding. Champi did as well, in June, and delightfully is in Singapore! So did Nana, and scores of others! Guess, it is the start of a new era, this year, haan?
Of course people made lovely jobs, and wonderful things happened to them, their lifestyle, their confidence, their lives, in general, and it’s heartening, and warm!
Friends fell in love, can’t remember any close ones who fell out, thankfully; friends apped to big schools, and are most definitely headed there, sooner than later.
In a nut shell, it’s been a happy year, or at the very least, neutral, if I look at my immediate world in general. Trust there is enough to crib about, as far as the world at large goes. Will save that for another one.
But as I finish, I realise, my wishlist has never been longer for the new year; my list of resolutions is so long, it makes all expectations unrealistic; a run through in the mind of complications is impossible to complete – so complicated are the expected ones – indeed I sign off, not too optimistically. And yet, the new year’s cheer I feel sure will eliminate any doubts/hangups/worries about life in the next 365 days – and leave me feeling yet again, that life is beautiful indeed; and can be as lovely as you want it to be.
Having rested my case on why write now, I proceeded to think about why I was writing at all. It’s definitely not a habit, nor a ritual or a tradition passed on. No one really is going to read what I did with my life in the past year and feel particularly elated or depressed, or smaller or bigger. Nah, my life hasn’t been life changing to anyone at all, perhaps, anyone except me. There it was! That is why I write! Optimistic me feels there is enough to put on record, enough to look back and feel happy about, definitely enough to look back and regret!
I made the great transition this year – from student to corporate junkie. To my mind, it’s significant. I wonder why the 4 ashramas of the Hindu faith didn’t consider this one as big as the others – perhaps it is enshrined in the getting married after studying one – you’ve got to feed a family or whatever, right? Anyways, to me, it’ll remain one of those moments, or periods, more likely – when I stepped out quite literally from the sheltered yellow run down walls of Pilani and then the staid red bricks of Ahmedabad into the work life.
As many variables as could change, did. My first job, my first job outside my country, my first brush with consulting, my first brush with my firm, my first time in a city with no close friends around to lament about everything to, my first travel like mad job, etc. etc. And what a roller coaster ride it’s been! All that yada yada about learning every day, is quite true fellas, and learn I did! And whether I chose to or not, rather quickly! There were other firsts as well – living in 5 stars, travelling business class when I got lucky, actually being able to shop in the duty frees, using the taxi recklessly (and hoping for a Mercedes cab each time …) – little joys in life, I guess.
I travelled, and how, especially given my mostly non-flying past. I am glad I did, and then not so much as well! So now, at the end of 2006, the US (NY, Chicago, and Boston), Vietnam(Hanoi). Hong Kong, Thailand(Bangkok, Pattaya, Hua Hin), Singapore(well, I could list the neighborhoods) are ticked off. I could’ve done more, and then I could’ve done less. So, that part of the work-be23/24-and-do-random-travelling worked out well, I guess.
On the personal front, Hari and I crossed the one year milestone – super kicked about it, and well, still smitten and touched. He moved to Singapore from London, and I can’t wait to finish on my project in Bangkok, and hope to work out of Singapore next. It’s funny – in one year, we’ve made the transition from having no money and all the time, to having all the money, and no time! Guess life’s like that.
There are other little things, like hunting down and renting a house I share with Megha and Parijat; bickering over provisions and other groceries; paying bills, bills, and more bills; and living the whole Expenditure expands to surpass income theory. At the very end, I am well-equipped with a long list of New Year resolutions on that front!
Now, I guess it’s time to move on from being so self obsessed! A lot of things happened to the people I love loads – Reddy got married right at the start, in February. She’ll stay my absolute darling, and I’ll never be more glad than when amazing things happen to her! So did Apu, to her PS sweetheart – how cute! And then Tikli in December – the first from the IIMA gang – wild times in Chennai, and a picture perfect wedding. Champi did as well, in June, and delightfully is in Singapore! So did Nana, and scores of others! Guess, it is the start of a new era, this year, haan?
Of course people made lovely jobs, and wonderful things happened to them, their lifestyle, their confidence, their lives, in general, and it’s heartening, and warm!
Friends fell in love, can’t remember any close ones who fell out, thankfully; friends apped to big schools, and are most definitely headed there, sooner than later.
In a nut shell, it’s been a happy year, or at the very least, neutral, if I look at my immediate world in general. Trust there is enough to crib about, as far as the world at large goes. Will save that for another one.
But as I finish, I realise, my wishlist has never been longer for the new year; my list of resolutions is so long, it makes all expectations unrealistic; a run through in the mind of complications is impossible to complete – so complicated are the expected ones – indeed I sign off, not too optimistically. And yet, the new year’s cheer I feel sure will eliminate any doubts/hangups/worries about life in the next 365 days – and leave me feeling yet again, that life is beautiful indeed; and can be as lovely as you want it to be.
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