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Grab any offer coming your way: Pune B-Schools to students

MBA graduates in the city’s BSchools are all dressed up but have very few places to go, with few recruiters having visited their institutes.

, ET Bureau|
Dec 17, 2008, 06.06 PM IST
PUNE: MBA graduates in the city���s BSchools are all dressed up but have very few places to go, with few recruiters having visited their institutes. Faculty at some of these institutes is now suggesting students accept whatever jobs and salaries that come their way.

Software and finance companies traditionally recruit more than half of the city���s BSchool graduates by December every year. This year, hardly any company from these sectors has arrived at the institutes in spite of having confirmed dates for campus interviews.

Insurance, manufacturing, infrastructure, biotech and pharma companies have visited institutes with salary packages similar to last year���s . This is making placement departments at the institutes push hard to invite companies from other sectors while simultaneously working on students, to get them to come to terms with the current situation.

Pune University���s department of management sciences (PUMBA) dean C M Chitale said that recruitments were slow and he would soon tell his students to accept whatever jobs they get at whatever salaries.

"They should get work experience which will help them overcome any feeling of frustration they may be undergoing. Once the current crisis ends, students who have been working stand a better chance of being picked up than a student with no experience. We have also suggested they join small and medium enterprises because the experience they will get in an SME would be much better than that in a multinational," Mr Chitale said.

He added, "We are also advising and assisting them to start their own businesses instead of burning the midnight oil for someone else���s profit after tax." The highest salary offered this year to a student from PUMBA was Rs 5 lakh compared to Rs 8 lakh last year.

The city���s prestigious Institute of Management Development and Research (IMDR) has placed 25% of its students but expects it to be a long, slow haul this year. Director Ajay Nagre said, "We have advised students to be pragmatic and practical. The salaries that MBA students managed to get till last year were unrealistic; easy money is not going to come their way now. Good jobs will still come, but students have to become better and deliver higher value for the recruiter," said Mr Nagre.

Symbiosis Institute of Business Management (SIBM) has set up an entrepreneurship cell to assist students in starting their own ventures. SIBM���s faculty of management dean Arun Mudbidri said, "We are in talks with a venture capital fund (VCF) to fund our students' ventures and we will provide a year���s assistance to those with a good business plan.

If the business plans do not work within a year, we will help the student get a placement next year."

The National Institute of Construction Management and Research claims that placements were on track despite the slowdown. Its Dean, Ajit Patwardhan, said, "Real estate companies are not recruiting but infrastructure companies are hiring. Placements are marginally slower but we have placed 40% students in the country and 30% in Gulf countries."
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