Faqs About Placement That Bother MBA Students

Posted on May 1, 2015 by IBS India

Placements bother everyone from parents to students who take up an MBA course because they are all worried about future; the Return on Investment and the kind of packages this degree would lead them to. Sometimes, questions about placement and confusions cultivate in your fertile brains but you neither ask them nor clear our doubts and therefore invite trouble. Hence, you must ‘ask’ questions. Let us now know some answers that you, your parents and your friends might want regarding placements.

When are placements conducted in the campus?

Placement season generally starts by the end of third semester of the course while it may also start in fourth semester if not early. Also, I would like to tell you that some companies do offer pre-placement offers to trainees who perform excellently during their internship projects; which saves them from the process of formal placement process.

What is the placement procedure?

The placement procedure is lengthy but uncomplicated. Firstly, the placement committee announces the arrival of companies. Thereafter, pre-placement talk takes place. Students apply for the company after going through the job descriptions as well as requirements of the company. The resumes are sent to the company. Companies do the preliminary screening process and shortlist candidates.

Thereafter, the recruitment process on campus takes place on campus which includes Group discussion, Personal interview, written tests or all. Further, the results are announced and formalities to be completed by students, advised by the company are completed. Thus, one is ready to join the company on the prescribed date by the company.

How to make my resume more appealing?

Your resume is representation of an overall you at the stage of screening and consist your abilities, achievements, skills and knowledge before you reach an interviewer or company. To make your resume appealing, please construct your resume around your strengths and make it short, crisp and neat. Do not fill it with excessive information or drain it of the essentials.

It would be prudent to reach out to your teachers, professors or professionals who are into personality or soft skill development department because this department is in constant touch with industry. Your resume must not exceed one and a half pages and references should never be paste because they may spoil a battle won with instantaneous efforts.

What type of companies should I apply for?

The type of company that you want to apply for should first go with your specialization, industry of interest, capabilities and values. There shouldn’t be a conflict between your and company’s value system. For that information please consult your contacts, friends, parents, newspapers, relatives, internet etc and understand how the company functions, operates and what sort of policies it frames.

Further, understand the packages, roles, kind of work, working hours etc the profile as well company demands. If still the company clicks with you, please feel to apply for it. Remember, no company is good or bad, everything depends on your outlook.

Which stream should I take for a better placement?

While doing the course, you gradually know your inclination as to which stream or kind of work excites you and what you would like to do for at least next five years of your life. Each subject leads to certain type of jobs and all jobs pertain to certain stream.

Mixing of streams is advisable if one wants to bring in a balance. Sticking to one stream is good if one wants a core job in that area. There is no such formula that marketing stream will get low packages than finance or vice-versa. Placement is a function of your knowledge, skills, awareness, willingness to work, agility, experience etc. Remember the stream will stick to your for life, whereas the first job will not!

Can I go for placement processes outside campus?

Generally, colleges do not prohibit sitting for placement processes outside campus. Remember never reapply in a company that you have been recently rejected for at campus placements. It is advisable to sit for other placement processes along with campus placement because this will increase your access to various companies.

Is there a fee for placement?

Mostly colleges keep the placement processes free of cost. It is matter of honor and pride for the colleges that their students get jobs before their actual degrees. Moreover, for any college better placements means better word of mouth about them.

Placement cells involve Placement officers, some faculty and sometimes placement representatives that assist students to get jobs and that too at no additional fee.

What is the eligibility for sitting for placements?

As far as the eligibility criterion is concerned, both institute and company can have criteria. To ensure quality employee to the company, institutes enforce a certain minimum qualifying grade point or performance in academics.

Also, companies impose eligibility criteria for their prospective employees such as stream, subjects, past academic record, present academic record, awards and recognitions etc. Eligibility certainly includes good moral conduct and character as no company or college would like misbehaved students in the placement process.

What kind of packages do companies offer?

Companies inform the placement cells about what packages they would offer for what position and location. These packages are in tune with the industry standards and abide to government norms and guidelines. Generally the package includes benefits, bonus plans etc.

A good package is one where you feel that the company is paying you worth for the effort it asks you. Remember you have to negotiate not bargain during the selection process for the location and package. In actual cases students get rejected for their roadside-peddler bargaining habits.

What is a pre placement talk?

Employers speak to students before the actual process and take up a presentation called a PPT or pre placement talk. Companies introduce themselves and talk about the management, work environment, campus etc.

PPT includes the history, domain, strengths of the company along with the position, package, growth prospects, benefits as well as selection process. They also take up questions, doubts, queries etc from the prospective candidates.

Will I get any training before actual work?

Generally companies prefer giving training within the first 6 months of your joining. It is completely up to them whether they want to give you training or not! The same may be asked during the negotiation round by you.

Is there any bond that I need to sign before joining the company?

Most companies do not ask you to sign bonds with them for working a certain period of time. However, it depends on you to accept or reject the offer, if they ask.

It is good to gather information and estimate the future but one must remember that placement infinitely depends on the economic situation of the country, recession or expansion of business cycle etc. Recession would mean less jobs and lower packages while expansion will mean the opposite. Hence, placement should be viewed as a chance to select the best suitable job in the present economic situation and not the only criteria to choose or reject a particular institute.

Contributed by Chayan Jain (Class of 2011-2013, IBS HYDERABAD)

Industry Needs more MBA’s

Posted on April 1, 2015 by IBS India

An industry operates in a dynamic environment, fragile conditions, stiff competition and scarce resources. It therefore needs individuals who can help maximise its collective purpose, provide direction and stay sustainable. The companies under the given industry have diversified goals too, each at different phases of life-cycle. Some have crossed the milestone; some have just carved them out and some even at the verge of collapse. It needs people who are aggressive, disciplined and willingness to support the mission and vision of the industry. It requires human resources who have a plan of action. It needs individuals who understand not only the conceptual knowledge of the industry but also know how to apply it at the right time. Industry ardently wants to absorb individuals who has a strategic bent of mind and simultaneously understands the value of time.

Currently Industry has a very strong recognition towards MBA as a professional course. The industry definitely understands the fact that MBA program ensures the individual has an excellent amount of exposure to complexity and uncertainty. It knows the MBA provides industry experience, business experience and most importantly managerial experience. Such rich aspects provide a higher degree of expertise and a strong compatibility to diversified roles. Industry recognises the fact that MBA grooms the candidates skill set, brings strong behavioural changes, and provides a strategic perspective. One of the aspects that have always been widely applauded is the fact that MBA program provides a managerial instinct which is extremely important across the industry.

Solid Grounding in concepts, terminology and techniques: The industry is growingly recognising the fact that MBA’s have already been distilled with most concepts that are crucial for the execution of their role. They are well versed with the framework of business which helps them navigate complex business problems in a more efficient way. Their style of management brings externals into confidence. There is an ease of doing business with them as they are well versed with the aspects which are crucial in business meetings, client meetings, deal execution etc. It is therefore but natural, their added knowledge and understanding provides favourable impact on the business. Their indulgence and association provide strong support both directly and indirectly to the company.

Cost reduction & Recruiters Preference: There is growing need for MBA and that is why we see so many companies reiterating the fact that their talented employees, who do not hold MBA degree, go through company sponsored MBA programs. In fact some companies have their own institute teaching their employees about MBA. Such companies find MBA a great support in their business. When companies get candidates who have already been absorbed into the MBA course, it reduces their cost of sponsoring for an MBA. Just not that it saves a lot of their time too. The need for MBA is reinforced when many recruiters prefer MBA as their first choice. One of the primary eligibility criteria has become MBA qualification. The industry which currently is in an up-trend, the need for MBA has further skyrocketed.

Avoiding pitfalls of business & Adding Value: Industry has also seen that MBA’s have already been exposed to a good amount of case studies of various established and innovative companies. They know the case-studies have been specifically streamlined on various aspects which can help the industry. Company knows MBA provides a strong learning curve to the candidate which if applied on their current business will help avoid various pitfalls which could otherwise be not known. MBA’s critical thinking helps business in various ways: Identifying threats and opportunities. Their applied knowledge from case studies not only help in filling the voids and gaps in the business but also help in adding value to the company. Sometimes their ideas help reengineer the business process and help recast the model in ways which otherwise would not have been possible.

Entrepreneurial attitude: Industry needs people who are self-motivated and have entrepreneurial attitude, one who can be self starter and go-getter. They need employees who have an attitude to get things done at the right time and in the right way. They need people who can understand the business and can manage things with least supervision. The industry knows MBA’s main propaganda is to make entrepreneurs. This comes as a big support for both the established companies and the one who has just taken a step in the industry. MBA with entrepreneurial attitude has a passion for work and a flair for success who work beyond the comfort zone. Such traits have not been missed by the industry and are one the aspects why Industry still wants to embrace MBA’s.

Global Approach & Multi-industry factors: MBA program is streamlined in such a way that both local and global aspects are introduced to the candidates. The candidates therefore have a global business perspective and have a higher tendency to provide comprehensive views. Therefore their working environment is not limited to domestic shores and this provides industry a confidence that MBA’s have a potential beyond the confines of the geographical parameters. Further to this, the diversity of MBA’s in terms of knowledge on multiple industries is extremely important. In today’s world, different industries are linked together and dependent on each other and having knowledge of different industries act as a catalyst for the company and the industry itself. This makes MBA’s more appealing to various industries.

MBA is a professional course with a lot of weight-age to ones life career. Its recognition is spreading far and wide and getting merged globally. Companies have been recognising it and have made it visible that they would definitely prefer MBA. More and more MBA candidates are being offered good post in renowned companies which again reiterates that MBA’s are strongly preferred. As the industry grows so does their operational aspects and so does the role gets challenging. MBA’s have therefore keeping pace with this dynamic roles and have stood shoulder-to-shoulder, showing competencies. For many it may still be hard to swallow that MBA is one of the preferred eligibility criteria for companies but the reality has been encouraging as more and more companies are coming out to recruit MBA graduates as their first preference.

Contributed by Mitesh Agarwal ( Class of 2011, IBS HYDERABAD )

Thinking Beyond Money During Campus Placements

Posted on March 13, 2015 by IBS India

Friends the economic slump has offer organization a chance to work more effectively on rewarding talented candidates by emphasizing nonfinancial motivators rather than to offer hefty packages. This is an opportunity for young MBA graduates to slip into these organizations and achieve success.

Companies around the world are cutting back their remuneration programs, and have used other ways (non-financial) of inspiring and hiring talent. Numerous studies have concluded that for employee with unsatisfactory salaries, some nonfinancial motivators are more effective, in building long-term employee engagement.

For a fresher this couldn’t be a better time to be motivated, in this time of cost-effective approach. I know money’s traditional role as the dominant motivator is under pressure from declining corporate revenues due to which many companies have cut remuneration costs by many percent or more, but the good news is; we can exploit this condition. Candidates should weigh the organization efforts under three noncash motivators—a) praise from immediate managers, b) leadership attention, and c) a chance to lead projects or task forces. I’ll try to give you an insight on these points-

Praise From Immediate Manager – This is a slanted part where most of you will not know before joining in about how the leadership will treat you, but inquiring through friends, word of mouth , finding common connection through LinkedIn etc., can help the candidate to judge better. The candidate should weigh the organization on the following parameters–
- Importance: Giving people a sense of importance about who they are and about their role in the organization;
- Touch: Feeling that the leader genuinely cares about them, feeling a connection with the leader;
- Gratitude: Being appreciated for their contributions and sacrifices; receiving genuine gratitude;
- Fairness: Knowing that leaders ensure equal and fair distribution of rewards.

Recognition and praise are indeed high octane fuel for the soul. When we receive a genuine compliment, we experience an inner glow – it’s a warm, magical feeling that makes us break into a smile. It makes us want to go the extra mile for the person who bestowed the sincere compliment. If this were not important to us, we would not be treasuring all of the mementos of awards, plaques, appreciative notes and emails, and other tokens of appreciation that we receive over the years.

Leadership attention – One-on-one meetings between employee and leaders are hugely motivational; they make them feel valued during these difficult times. You have to check, how much the organization’s leadership is involved with their team members. By contrast, largescale communications events, such as the town hall meetings common during the economic crisis, is one of the least effective nonfinancial motivators. Basically all modern theory of motivation aside, the key to energize the resource is purpose i.e. put purpose in employee’s work. If every single employee can understand the value they bring in the mission and vision of the organization, much of the leadership task falls in places. Today leaders in most organization don’t have time even for their direct reports, imagine a leaders investing his valuable time to train and mentor you is nothing less than gold.

Leadership is like a love affair, every fool can start but to end it tidily requires considerable skills, the candidate should understand the importance of great leadership. Organization these days faces leadership crunch and the candidate should value the time and effort his leaders are investing upon them to improve his/her skill set.

Chance to lead projects or task forces – I’ve seen many candidates feel reluctant to face the chin music but trust me nothing is more important than by taking the bull by the horns. Taking a lead on big projects will make you an indispensable resource to the organization. When I joined as a fresher I was given a task to maintain the monthly tracker but I stood up and asked for more strategic work. Seeing my enthusiasm my leader gave a big sensitive project which I ran commendably. From thereafter I never look back, but what worked for me was the amount of risk the organization/leader took to assign that project to me. It’s a great example of leader risking him and you rising to the occasion. The candidate should definitely join organization that has higher risk taking appetite. Money will follow, but nothing is more expensive than a miss opportunity to make it big. In the tiring time of job crunch and cramped campus placement, candidate should shift their focus on companies which aren’t risk averse and employees enjoy free hand to work. How many times it’s seen how that ‘small’ project turned into such a big one costing double and taking three times the length an organization estimate, eventually making an employee life.

Some far-thinking companies are working hard to understand what motivates employees. One global pharmaceutical company conducted a survey that showed that in some countries employees emphasized the role of senior leadership in social responsibility. One automotive company has reframed the incentives issue by putting the focus on “recognition” instead of “reward” in order to inspire a more thoughtful discussion about what motivates people.

The top three nonfinancial motivators cited offer guidance on where candidates should focus. I was having an interaction with one of the HR directors and he emphasized leadership attention as a way to signal the importance of retaining top talent. Many CEO’s while crafting corporate strategy, convened several focus groups of talented managers to generate ideas about how to create more value for the business.

With profitability returning to some geographies and sectors, we see signs that huge packages will be making a comeback: A talent strategy that emphasizes the frequent use of the right nonfinancial motivators would benefit most companies in bleak times and fair. By acting now, organization could exit the downturn stronger than they entered it and candidates should capitalize this opportunity by slipping in quickly to an effective role.

Thinking beyond money is tough for young MBA graduates since the amount of money invested in the MBA program is huge. But being motivated during strenuous time will take your carrier to an unimaginable extent. Be knowledgeable and skillful, money follows the wise.

All the Best!

Contributed by Vaibhav Chandra (Class of 2009, IBS HYDERABAD)

ICFAI Business School Blog

Tag Archives: MBA Placements