MBA Placement -The Ultimate Goal?

MBA Placements

By Dr. Dinesh D. Harsolekar

Students in India who aspire to get into an MBA program mostly have only one goal and that is to get a good job. There is nothing wrong if they look for jobs as an outcome of their MBA but the problem is that they look for only that outcome instead of considering MBA as an opportunity to transform their life. Along with students even the business schools work only towards this goal. The regulators and various publications engaged in the rankings of business schools also give huge weightage to placement performance of business schools.

This trend has been posing some serious challenges for the Indian management education system. In this article we shall try to delve into some of those challenges and suggest a right approach for all the stakeholders. 

Challenges for the Indian management education system

First of all, we shall see how industry is exploiting this situation. On the one hand industry complains about the quality of students and questions their ability to get employment. On the other hand, instead of helping business schools to change this scenario it contributes to further deterioration of the situation. In an effort to get the best in the available lot many companies start visiting business school campuses as early as August. At this point of time students are hardly one month old in the second year after completing their summer internship. They are hardly exposed to their specialization subjects. At this stage when they understand that some prominent companies are coming to their campus, their focus gets diverted completely from studies to placements. In the process, learning takes a back seat. This practically means that students who have taken admission to do a two-year program try to get jobs based on only one year of studies. How can companies expect that they will get mature students? Also, because of company visits to the campus lecture schedules go haywire. This approach does great harm to the process of education.

Companies don’t stop at that. They know that in business schools they recruit students who would complete their MBA in April-May. But again, because of the fear of losing good students the companies don’t want to wait until students write their final exams. They ask students to join any time from October-November. In fact, sometimes companies cross all the limits and ask students not to go back after summer internship and continue working as a regular employee. In many cases the companies even threaten that if students don’t join early, the offers will not be given or the offers will be withdrawn. While dealing with business schools the companies also pose a question, “when other business schools can allow their students to join early, why can't they?”

Since students are interested only in placements and not in studies, they also put pressure on their professors and directors to allow them to join companies early. In many cases the business schools are not confident about the prospects of good placements for their students. Therefore, they succumb to the pressure created by the companies and students and allow students to join early at the cost of their studies. In a way these business schools also help companies in this wrong practice.

Aren’t MBA institutes at fault?

It may not be correct to blame only companies. Many a time even institutes make an offer to companies that their students can join early. This happens probably because institutes also think that the only outcome of an MBA program is good placements of their students. They want to see that all their students are placed and start working as early as possible. Their fear is that if students don’t join early, they may change their mind and continue to try for a better job through their personal contacts. This may spoil the relations between companies and business schools.

There is another reason for institutes to come under pressure. This pressure is created by the regulators as they want to know the placement record of the institutes in terms of number as well as quality.

It is very natural for parents to want their children to look for good jobs after completing MBA because they shell out a substantial amount of money on their education. But the problem is that students want to get good jobs without working to make themselves eligible for those jobs. They think that it is enough to get admission into a business school to get a job. Right from day one of their admission they think only of placement. Unfortunately, neither parents nor students realise that the value for their money is not only a job but also the learning and development which happens during their two years in a business school. Unfortunately, this aspect is completely side tracked. They don’t understand that these two years will never come back in their life again.

All these points force us to think if students really learn anything in their MBA studies. This is the reason that companies get an opportunity to criticize students, business schools and the entire education system. But their criticism would not solve the problem. They will have to help in improving this situation.

How to make the most of Campus Placement opportunity

Barring some exceptions all good companies are members of some industry associations. These associations should decide about the campus recruitment policy and direct their member companies to follow a proper system and approach of recruiting students from campuses. The companies should be asked that no MBA student should be told to join the workplace before s/he completes the final semester examination. Similarly, a specific time period should be decided for company visits to campuses for recruitment. This kind of discipline among companies would go a long way in improving the situation in business schools and easing out pressure on them as well as students.

Students must understand that worrying about jobs will not get them jobs. Rather, they should prepare themselves to prove their mettle in the job market. Most of the good business schools lay a huge emphasis on converting their raw students into complete management graduates. Students must appreciate these efforts and make use of that. They must understand one important point that placements are and should just be a by-product of their MBA studies. If they sincerely work towards their studies and follow everything their teachers tell them, placements will happen so smoothly and easily that they would not even realise and they would get a job of their choice.

Additionally, a regular revision is very critical. Students must change their habit of deleting everything from their memory once the semester exams are over. There is another point. MBA students are expected to be a little more versatile instead of being strong only in academics. Therefore, they should be voracious readers. They must read journals, magazines and business newspapers regularly to keep themselves abreast of the happenings in the field of business and economics.

Students should not worry about their placements but they should certainly plan for their career. They must decide about the kind of industry in which they would like to make their career, as early as possible. In that industry segment they should short-list a few dream companies where they would like to work. However, they must check if those companies visit their campus. If those companies don’t visit then they should work with their placement cell to get those companies on campus. Also, they should plan for their preferred job profile which should not be too narrow and should provide them with broader options.

Once students decide their preferred industry, companies and job profile, all their efforts should be directed to achieve their target. The choice of electives, projects, reference reading, summer internship etc. should be made keeping in mind one’s career choice. Students must make efforts to know and understand their chosen industry segment and companies where they would like to work.

Many companies conduct aptitude test, in addition to group discussion and personal interview, as part of their selection process. Students can prove themselves in all these three areas only if they practice. They should request their teachers to help them in these areas by observing their performance and giving feedback.

Last but not the least, students must not ignore the importance of soft skills if they want to get what they desire. Communication skills, resume writing, manners and etiquette, dressing, grooming etc. are extremely important for MBA students. They must remember that the contents of their CV (hard skills or knowledge base) give them an opportunity to present themselves for the selection process but finally, their selection would depend upon their expertise in soft skills.

Finally, all the stakeholders – industry, institutes, parents and students – must ensure that the campus placements do not become a source of stress and tension for students and the institutes. All of them should work towards an improved system wherein, institutes are able to focus on their core function of developing students to face the real world and students are able to focus on their self-development and becoming a complete management graduate. This will give companies what they look for and they may not find reasons to complain about the education system.

About the Author:

Dr. Dinesh D. Harsolekar is the Director of Indian Education Society’s Management College and Research Centre, Bandra (W), Mumbai. He holds post graduate degree in Accounting and PhD in Management and has more than 35 years of industrial, teaching, research and administrative experience. Dr. Harsolekar has conducted training programs for the executives of many companies like ACC, Crompton Greaves, TATA Liebert, etc. He has published two books and written several articles and papers in journals, periodicals and newspapers. His present and past academic positions include – Senate Member (Governor’s Nominee) – SNDT Women’s University, Chairman – Adhoc Board of Studies in Finance (Management Faculty – University of Mumbai), Member of Academic Council (University of Mumbai) etc.