How do they plan their careers -- are they so charmed by international postings and packages, as the perception goes? Is salary-package the most important parameter? How do they look at working and creating wealth (read entrepreneurship) in the so called New India? Who inspires them – a super successful CEO or a self-made entrepreneur? And which are the most coveted sector and companies?
It is to answer these waxing questions that India's leading management portal MBAUniverse.com teamed up with India's No 1 staffing company TeamLease Services and global research firm Synovate to conduct an exhaustive face-to-face survey in India's Top 20 Business Schools. The survey was conducted amongst 392 MBA second-year students at India Top 20 B-schools. The institutes surveyed include five IIMs including IIM-A, IIM-B & IIM-C, XLRI Jamshedpur, MDI Gurgaon, Jamnalal Bajaj Institute of Management, IIT SOM amongst others. The survey was conducted between October 14 & 31 by global market research company Synovate. The result is the first TeamLease-MBAUniverse.com B-school Pulse Career & Placements Survey 2008.
The findings of the survey are indeed myth shattering. For instance, the survey emphatically says that Job Profile, not salary-packages, is the most important criteria for MBA grads. 57% of MBA second-year students at India's top 20 B-schools said that Job Profile was 'most important factor' while choosing a career. 25 % rated it as 'important factor'. In comparison, 'Salary' was ranked as 'most important' by only 17 % students, and 'important' by 33 %. Interestingly 'Sector or Industry' was the second most important parameter for making a career decision.
The survey also breaks another myth that Indian MBA salaries expectations are soaring sky high and are getting out of sync with market realities. The fact is Indian MBAs offer great value. According to survey, 38 % of MBAs expect a salary package between Rs 11-15 lacs. 35 % of them expect a more modest package of Rs 6 lacs to 10 lacs. These figures are a reality check. 11 % expect a package between Rs 16-20 lacs. Only 11 % expect a salary package higher than Rs 21 lacs. Data from top three IIMs ie IIM-A, IIM-B & IIM-C, however, shows higher salary expectation.
There are many others findings that reveal the career aspirations of India's elite MBAs. The findings have been released to national press and have appeared in leading pink daily. The survey highlights will also be published on MBAUniverse.com soon and as a special print Report, with details.
TeamLease Services is India's leading staffing company and provides a range of Temporary and Permanent manpower solutions to over 650 clients. Teamlease started operations in 2002 and now has 70,000 employees in over 464 locations. The company is country's largest HR services provider and is on track to be India's largest private employer by 2007.
MBAUniverse.com is India's leading management portal with readership across top B-schools and corporates. Its network of journalists report news from campuses, corporates and knowledge events across India. It conducts Surveys on student's career aspirations, Placement trends and B-school rankings. It was set up in 2006 by team of management experts.
