In India, where MBA is gradually losing its charm due to the rise in unemployed MBA graduates, the brimming startup culture and digitalization instills hope as qualified business leaders are required.
So, this contrast is explained by many education enthusiasts. They believe due to lack of skills; MBA graduates are not being employed for better posts. All agree on a fact that a college or a degree is not capable to grab anyone a well-deserved job. Rather it’s the abilities and practical exposure which helps any student gain the best jobs available in different industries.
Therefore, through this article, our aim is to aware students about the 5 ways by which they can surely ensure their employability even before they pass MBA.
- Choosing your B-school wisely
Firstly, remember that getting into an IIM, for an MBA course, is not your sole worry. Actually, what you need is a good college, that gives you an enriching learning experience, and helps you understand the management world and its requirements.
So, take time in evaluating other top B-schools, as well, for pursuing MBA. Like one of the requisites on your MBA school checklist could be its placement trend in the past years.
According to the recent trends and job placements analysis of the MBA degree, most of the placements this year had gotten over within a week with recruiters offering a number of high salary job offers from across sectors. Some of the sectors that recorded the most recruitments in 2017, included Banking, Finance, Services and Consulting, Insurance (BFSI) IT/ITES, Operations, Manufacturing etc.
There has indeed, been a growth of MBA colleges with a high average salary in placements, over the years.
The best placement packages for top three MBA colleges in 2017:
First on this short list to feature is S.P.Jain Institute of Management & Research, Mumbai, with an average salary package of Rs. 20.90 Lakhs p.a. in 2017. Their highest salary was Rs. 39 Lakhs p.a. and also recorded a 5.4% increase of highest salary package as compared to last year.
Next, is the Faculty of Management Studies, the University of Delhi with Rs.20.60 Lakhs p.a. as their average salary package. Also, this year, their highest salary offered was Rs. 54 Lakhs p.a., although it was an 18.18% decrease from last year (Rs. 66 Lakhs p.a.)
And last, but not the least, is XLRI, Jamshedpur. This year, an average package of Rs.19.26 Lakhs p.a. was offered during its MBA campus placements. And their highest package came up to Rs. 43 Lakhs p.a. This increased from Rs. 29 Lakhs p.a. in 2016.
IIFT Delhi, IIM Kozhikode, IMI New Delhi, SIBM Pune, and IFMR Chennai etc. are some of the other college options for MBA degree.
Another trend that was noticed in the recent MBA Placements, for this year, was that many of the top B-schools, recorded, either a high salary package or has remained somewhere near the same package, as that of the previous year. But their average salary package has not come down. And this is a good thing to look out for.
2) Focus on developing skills
Moving on, gaining admissions into a well reputed MBA college, does not serve the purpose, alone. There is more to that, an interest and engagement in extracurricular activities would go a long way, in shaping up the rest of your career. For any aspirant focusing on academics should be important but following your passion is even more important. It can be theater, arts, music, dance, sports, debates etc.
These activities help to develop a mature, disciplined and interesting approach to life. This is the kind of thinking, needed for solving complex problems in the business world.
Also, through engagement in extracurricular activities, one gradually acquires skills of leadership, team building, problem-solving, analytical skills.
Try to be involved in tasks which broaden your exposure to business and management and helps to develop good interpersonal communication.
3) Keep your goals high
The more you keep yourself occupied, the more your mind will open itself. Diving into the world of MBA, and business management can open a range of career possibilities, with an innovative touch. And entrepreneurship is just, one of those possibilities. It is an option, for those who are open to new challenges, creative thinking, and ideas to produce products and technologies, amidst cut-throat competition.
Hey, in the end, the rewards are definitely promising. So, during your MBA, do try to explore as much as you can. Maybe open an entrepreneur club in college? The aim is to be focused on what you want and where you are going.
4) Practical Exposure
Gaining maximum practical exposure in any management course is beneficial beyond expectations. This is true, especially in an MBA course. So, choose, research well and plan your internships wisely and seriously.
Many companies, nowadays, offer on-the-job training experiences including paid internship and pre-placement offers. For a student, a good internship with a decent stipend is like hitting two birds with a single stone.
As per a recent report on the highest median monthly pay for internships, in India for interns over the last year, we are able to provide you a quick list of such best companies. American Express (Rs. 68,000), Deutsche Bank (Rs. 57,000), Britannia (Rs. 55,000), Directi (Rs. 52,000), PayPal (Rs. 50,000), ITC (Rs. 45,000), Arista (Rs. 43,000), Cadbury (Rs. 42,000), Microsoft (Rs. 40,000), Goldman Sachs (Rs. 37,000), Cisco (Rs. 36,000), Adobe (Rs. 35,000), Amazon (Rs. 33,000), Google, IBM and Samsung (Rs. 30,000) etc. And these are just the tip of the iceberg!
5) Read success stories
The road to success is never an easy one. It is always different and vibrant for every one of us. So, do take time, in reading as many success stories as you can; stories of grit, courage, and determination. Our world is full of them, people excelling in endless streams and fields of study! Find out your passions and work your way with your beliefs as steady pillars.
You can find, an endless list of alumni on many college websites, those who dared to break stereotypes to top examinations, crack interviews and even pursue Ph.D. degrees at 15 years! There is no end to the endless motivation you require, and it is around you.
These success stories will provide you inspiration and zeal to achieve your dreams just like these people did. Especially, refer to the stories of business leaders, their rise and fall will leave you motivated and defeat will not scare you anymore
Well, for now, we do think you are ready. Now, go make your dreams your reality by following these simple ways.