In this decade the economic scenario in India has seen several phases. We are now in a phase of growth and opportunity. As one of the fastest growing economies in the world, India Inc. has a variety of job opportunities for the MBA graduates of today. These jobs vary as per the industry as well as in their roles.
Jobs can also vary in their structure. Some companies have a structured induction program that provides for maximum exposure. They are then put on a fast track within the company. Other companies involve the recruits into the regular departments and allow them to specialize within that. The deciding factors for employment are often previous work experience, areas of specialization, graduating institute and one’s own strengths.
Consulting and Financial Institutions have always been one of the highest paying sectors and thus the preferred choice for many MBAs. The last couple of years however have seen several opportunities emerge in the internet and tech space. Maximum requirements come from e-commerce companies. In this field it isn’t only the bigger players with deep pockets that attract these graduates. Many young people seek opportunities with relatively smaller firms for path breaking work and faster growth.
Another field gaining recognition is the Big Data analytics. Be it project management, product development, communication development or recruitment: an understanding of analytics is becoming a hygiene factor. In the last three to four years, this trend towards use of data analytics has started and institutes have started courses in Big Data and Data Analytics. The earlier emphasis on e-business also continues and one sees practitioners coming into schools as marketing faculty to ensure the right inputs.
Many of us dream of opening our own business but do not have the knowledge and skills to make this a reality. Even for aspiring entrepreneurs, doing an MBA is a good investment. The MBA programs will expose you to a lot of concepts and case studies of business and one can learn from them. Many colleges use case studies of businesses that have succeeded and failed. Students are taught a structured approach on how ideas can become reality, what are the basics required to start a business and also how to scale up a business. This also opens doors for networking which is very important these days to start a business.
It is interesting to note that the MBA aspirants today are going beyond the curriculum and opportunities and also looking at the course structure very closely. More and more students prefer the option of a full time one year pg program. They are willing to work longer hours and avoid breaks between the program if it will help them avoid the high opportunity cost that being out of the job circuit incurs.
While the job market for MBAs is evolving every year, it is also growing exponentially. All industries are seeing value in recruiting these graduates who balance their task and people skills effectively. The 3500 odd B schools in the country today cater to different kinds of industries and there seems to be a place for everyone under this bright sun. At the same time, not all MBAs can be seen as ‘easily employable’. As per a study conducted by MeriTrac, barely 21% MBAs are employable in terms of their cognitive skills and reasoning power. This is an issue that needs to be addressed and one year MBA programs are doing this in the right way by getting in practitioners as faculty. Short duration capsule courses are specially designed to increase the involvement of industry experts. The traditional semester approach has evolved to allow for this change.
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