Cynical students are now giving preference to sectors that are more secure. It is the first time in five years B-school students are choosing jobs in the FMCG sector over those in consultancy.
Management students across the country seem to be opting for stable sectors, having faced the brunt of he economic downturn last year. This year the emphasis is on job profiles over salary figures.
The atmosphere is ripe with skepticism and anxiety as students across B schools gear up to begin placement season. However, unlike last year, when the placement scenario turned out to institutes a students this year are confident of good recruitments
The panic mentality that dominated students minds last year is over. Though sectors such as retail are still reeling under the lowdown effect, others like FMVG, banking, insurance and KPOs are definitely in better shape. As result, students are confident of getting worthy jobs this year. Though the demand from European and American markets has not increased Asian markets are showing a rise in demand. Sectors such as consulting, finance, marketing, and technology will definitely witness a demand in recruitment. Others sectors such as healthcare, telecom will be large recruiters. However, Students who have opted for specialized MBAs may still find it harder to get jobs last year find it as harder to get jobs this year as well.
However, in spite of the optimism the current batch of students wants to avoid any risks and opt for the safest and wisest choice available. Thus, the placement scenario this year is expected to witness drastic change in trends.
A major shift in trend is the focus on opting for stable sectors that re les likely to be hit by slowdown in the future. According to an ACNielsen ORG-Marg study conducted on 1400 management students from 40 reputed Indian institutes cynical students are now giving preference to sectors that are more secure. It is the first time in five years that B-school students are choosing jobs in the FMCG sector over those in consultancy Reasons. Students feel that the recession may still effect placements and are thus opting for more stable sectors such as FMCG.
Unwilling to take a risk, a number of students this year have decided to ascribe more importance to job profiles and organizations they settle for than mere sky high salaries. Says a student from XLRI School of Business and Human Resources Jamshedpur, though our summer placements have been good and the final placements too are most likely to be successful, we are wary of making any risky choices unlike our seniors. The focus will be on job rolls rather than salaries.
This was been corroborated by the Nielsen report as well, which states that salary expectations have remained unchanged this year. There is usually a 10-15 per cent increase in salaries annually. However, this year the rise has been marginal. While salary expectation in 2008 was Rs 14 per annum, it has increased to a mere Rs 14.3 lakh in 2009. This though in no way implies that the salaries being offered are low.
If you believe that it is only your qualification and experience that counts when you go for an interview, then you would be shocked to know that HR professionals believe that the first ten seconds of the interview are the most crucial in decision making.
All in all, though the slowdown did impact the economy badly, it definitely brought about the much needed correction in the expectations of management students who are now treading the path cautiously.