Consulting loses to e-comm at B-schools
Every Fourth MBA Grad Wants To Work In Online Industry | FMCG Stays Top Choice
Samidha Sharma & Hemali Chhapia-Shah TNN
Mumbai: In a stamp of approval for the fast-growing startup ecosystem in the country, one-fourth of MBA students from across India’s toptier business schools, including the IIMs, said they would prefer working for the fledgling e-commerce sector, pipping traditional favourites like consulting and financial services jobs. The sector which has been flush with funds, on the back of growing adoption of online shopping, is now the second most preferred job avenue for B-school grads after the FMCG industry.
Continuing with its rapid acceptance among management graduates, e-commerce has dethroned management consultancy from the second spot for the first time this year even as sectors such as manufacturing, software and IT services fell out of the top 10 league, said findings from a survey conducted by global market research firm Nielsen and shared exclusively with TOI. Investment banking, a much coveted sector for MBA grads in the pre-economic crisis days, is now at a lowly 10th spot, having lost its sheen internationally and in India among MBAs. I-banks with fat bonuses on offer were a big draw before the collapse of Lehman Brothers in 2008.
What is significant though is that despite economic uncertainty still looming large, the trend of young MBA grads looking to board the startup bandwagon has only gone up over the past couple of years in India. “One in five respondents indicated that they might consider a startup after gaining experience at their first job, and are open to the risk and challenge that come with working independently or on board an online/e-commerce set up. This is a trait seen largely in toppers from premier campuses, who aim to operate as young entrepreneurs in the near future,” said Surjya Roy, director, Nielsen India.
Nielsen India’s Campus recruiter Index, an annual survey mapping preferred career choices of 1,600 MBA students from the top 35 management institutions, ranked Hindustan Unilever on top of the list of recruiters followed by Procter & Gamble and Google.
V K Menon, director-career advancement services, Indian School of Business (ISB), Hyderabad, said the premium set of top companies in FMCG and consulting were hiring in large numbers and that had allowed them to maintain their top positions in the pecking order. However, the e-commerce startups from a few years back have now grown to become fairly sized companies and their capacity to hire has also grown over time. Manufacturing, on the other hand, Menon said, witnessed flat hiring owing to the continued sluggishness in the sector.
E-commerce companies made a total of 81 offers constituting about 28% of the overall technology offers at ISB, where leading the pack were Amazon, Flipkart, InMobi and Myntra-.com. The year witnessed a 50% increase in the number of startups participating in the placements process, Menon said. Many new startups like Silicon Valley venture capital fund Sequoia Capital-backed BankBazaar.com and Zomato came to ISB for the first time. At IIMCalcutta, the world’s largest online retailer Amazon made the highest number of offers on campus at 16 for leadership and operations roles.
“Two years back, students graduating from top B-schools like the IIMs would ask if there was job security in e-commerce. They wanted jobs in consulting and I-banks. But things have changed quite dramatically as these youngsters realize jobs in startups offer a larger canvas for them to make an impact,” said Kunal Bahl, co-founder, Snapdeal, which is backed by eBay and other top VC funds. Bahl, a Wharton graduate, said Snapdeal hired around 25 MBA graduates from different IIMs this year.
Sankarshan Basu, chairperson, career development services at IIM Bangalore, said consulting and finance occupied the top spots with close to half of the graduating batch joining them while FMCG, e-commerce and technology companies hired the remaining 50%. XLRI’s placement chairman Rajiv Mishra said FMCG had maintained its pole position at the Bschool this year.
Source :::: The Times of India, 04-03-2014, p.19, http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOIM/2014/03/04&PageLabel=19&EntityId=Ar01901&ViewMode=HTML