Job profile beats money on MBA's most-desired list
57% of MBA second-year students at India's top 20 B-schools said job profile was the 'most important factor' while choosing a career. Resume writing tips for dream job
An overwhelming, 57% of MBA second-year students at India's top 20 B-schools said job profile was the ‘most important factor' while choosing a career and another 25% rated it as an ‘important factor'. In comparison, ‘salary' was ranked as ‘most important' by only 17% students, and ‘important' by 33 %.
Interestingly, ‘sector or industry' emerged as the second most important parameter in a career decision. For 35% of the MBA students, sector or industry was the ‘most important' criteria, while 31% said it was ‘important'. ‘Company' is the next most important factor with 29% students rating it as most important and 38% students rating it as important.
“The story of MBA aspirations today, is the story of new Indian business — more confident, higher aspirations, and more comfortable in their own skin,” says Teamlease VP Sampath Shetty. “This survey reflects the breadth and depth of thinking, opportunities and choices that are a direct consequence of the economic reform process begun many years ago.”
The study, aimed to understand the career aspirations of MBA students, was conducted by the global research firm, Synovate across India's Top 20 B-schools. The institutes included five IIMs, XLRI Jamshedpur, MDI Gurgaon and Jamnalal Bajaj Institute of Management, amongst others.
The study shatters a myth that MBA salary expectations in India are soaring sky high and are getting out of sync with market realities. While MBAs from India's top B-Schools, match some of the best in the world and offer great value, 38% of MBAs expect a salary package between Rs 11-15 lakh and 35% of them expect a more modest package of Rs 6-10 lakh.
These figures are a reality check, says the study. Another 11% expect a package between Rs 16-20 lakh. Only 11% expect a salary package higher than Rs 21 lakh. “Indian MBAs are intelligent and savvy,” says MBAUniverse.com director Satwinder Singh. “They are putting long-term gains in priority over short-term monetary sops.”
Data from the top three IIMs i.e: IIM-A, IIM-B & IIMC, however, shows higher salary expectations. At IIM-A, for instance, 20% of graduates expect a salary package higher than Rs 25 lakh. The expectation is similar at IIMC where 19% students expect a higher than Rs 25 lakh package.
According to the survey, salary expectations are highest in IIM-B with 27% students expecting a package of higher than Rs 25 lakh. Even at these levels, top Indian MBAs offer great value for recruiting companies.