Management studies quickly rose from being a part time education for practicing executives into a full time course for all. What began in the 1960s in India and turned into a revolution by the 90s. By 1990, 82 universities across India offered MBA a number that has risen to approximately 1,100 in 2005.
While the buoyancy experienced by the MBA market was to face a critical setback due to the global economic slow down, the emerging picture is optimistic.
India has a booming hiring climate as predicted by the Manpower Employment Outlook (MEO) survey, India. The country ranks at the top amongst 33 countries with the most favorable quarter hiring plans in 2008.
For MBA graduates passing out in 2009, the impact of the slowdown may seem strong and volatile. But the cushioning effect of this slowdown is the silver lining for most MBA aspirants.
Salaries and recruitments have been affected in particular sectors such as finance, consultancy and investment banking. However, sectors such as infrastructure services and manufacturing are unaffected.
There as an escalation of salaries in the last three to four years in the finance sectors boosted by an upward economy, the soufflé effect of which will now see a stabilization of salaries in line with traditional standards such as inflation. The recruitment market is getting realistic.
Although salary levels have not seen a drastic drop since last year, there has been a drop in the number of recruitments.
When the economy is buoyant there is a segment of sectors such as investment banking that takes away the cream of the top ranking B schools in the country. In this recessionary environment good companies from other sectors such as FMCG and manufacturing will now get the opportunity to recruit top management graduates.
The current environment benefits everyone students who get a wider choice can now recruit top graduates and B-schools that get to explore several new sectors for placements. The MBA culture and skill sets get distributed over a larger industry segment benefiting not just those involved but the economy as a whole.
Good placements in this recessionary scenario are possible if students open themselves to explore new possibilities in areas such as the services sector, FMCG manufacturing and infrastructure.
Studying in top ranking B-school and getting placement you end up as a manager from junior to middle grades. In all these irrespective of the functional area the manager has to play a prime role of cost cutting.
There are some simple ways to cut company’s cost. These are tough times. Revenues are getting hit and most companies are sweating. If pay cuts or lay offs have not happened in your company yet, we are you must have received some diktats about cost cutting. Well, this is the time to show your initiative in trimming the company bills. Here are some tips:
Avoid making personal calls
It would help if you did not catch with all your friends on the office phone. We know you can’t be caught (although your phone bills are monitored regularly) and local calls don’t really cost much. You can just as well keep in touch on Face-book or G-mail. It does not cost any company money.
Club together client visits in one area:
We won’t tell you to take the bus or train instead of the cab. Travelling in a crowded train is not the best thing after a tiring day. But you might want to take client appointments in one area on one day. This way you can save on not only company conveyance but also on precious time which is also money for the company.
Switch off your PC’s when not in use:
We know it’s a pain to log in and log out constantly. But you will save on a lot of electricity costs if you switched off your comp every time you were away from it for more than fifteen minutes. You might also want to open the window shades and work in the natural light as much as possible.
Save the stationary:
Save paper printed on one side for rough printouts. Use up used envelopes for informal packaging. Instead of ordering note-pads use rough paper pads to make notes. Stop ordering paper tissues for the bathrooms. Sometimes people wipe their hands and face on tissue instead of clean towels. Since this habit is limited only to the office (we cannot afford to do this domestic budgets), it can be curved safely. Money saved on such things might not be much but can add to the general savings of the company.