Will I get Rs 1 crore package after doing MBA?

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By Manoj R Thakkar

Today, institutes talk of designing the best curriculum for their students, but the focus of more and more institutions is on Placements, trying to be one up in the race for claiming the highest package! But how many actually get that 1 Crore package after doing MBA? Let us throw some light on this area of higher education in India.

There are thousands of educational institutions in India. Add to that, international investment coming in various places across the country like Mumbai, Delhi, Kolkata, Ahmedabad, Hyderabad, etc. The purpose is simple – cash in on the demand in the Indian market and make big money. Secondly, Indians have high demand in international markets as a preferred resource for base level / middle level as well as management level positions. Let's discuss this by bifurcating Indian and International markets.

 

Indian Market

Will I be getting a 1 Crore package after my Degree? Will it remain a dream forever or can I actually make this a fact of my life? Well, Corporates need highly skilled manpower. They are interested in hiring from the campuses itself but the bitter fact is that the curricula of our Indian institutions has often been criticised. It is said that they make robots not employees. To repair this damage between industries and academic institutes, the development of curriculum pattern has to be changed and closely looked into by the Statutory bodies like UGC and AICTE. Guidelines must be developed for institutes to first get the requirement from corporates and then incorporate it to make relevant course curriculum. Until then, students can turn to Certification courses, that are already playing a vital role in fetching handsome packages for students, no matter whether he is a freshman or a working professional.

Many colleges are seen training their students on 'how to crack the interview'. That's all fine as long as the focus remains on real-time skills that are necessary to perform on the workfront. This is what the industry demand is. Why will a company bear the loss due to non-performance of an employee. After all, a company is looking to make profits and do good business, while an employee wants to make good money in a high flying career. Both need each other and want to be equally profitable.

To bridge the need gap, many corporates have now jumped in the education business to develop their own manpower. They obviously charge high fee but offer the knowledge relevant to the industry. And after course completion, they simply hire their students and offer in-house placements. Simultaneously, Certification courses are playing an important role in one’s career. In fact, certain certification courses have even replaced regular Degree courses at some stage.

International Market

If you look at the international scenario, Indians go abroad for jobs but very few job seekers are coming to India from other countries. While this issue is related to our economy but yes, this point does seek attention when it comes to the job market. Our academic institutes are not able to fulfill the demand of the Indian Corporates then how do we expect them to meet the requirements of the international job market. But despite all this, Indians are in demand in international countries. Why? The major reason is, our workplace skills / sharp mind and mostly the way of working. Indians believe in hard work and can work smart and handle work pressures and huge value projects easily. They are responsible in their job and deliveries. But how do they manage to get these skills? The secret is, even after completion of higher education, they have a habit of acquiring knowledge from various platforms where they can gain extra knowledge about their respective domain to gain expertise. Some gain it from experience and others acquire it from certification courses. Certification courses are designed according to industry requirement. They are customised courses, also known as Industry oriented programmes. Many corporates follow these programmes for their employees and also sponsor them and encourage their staff to take up these programmes to develop their knowledge which will be useful both for their individual growth and obviously for the organisational growth too. However, our statutory bodies have nothing to do with this. This is how the Certification courses play an important role in Corporate hiring. E-Learning has been treated as the first priority these days for learning certification courses.

The message doesn’t end here...

Academic institutes must develop their extra-curricular activities and Internships, which should be relevant to the specialisation and not be in any random subject or industry for the sake of doing the internship. Institutes should guide students for success in interviews but should also make them learn how to perform their best in the organisation because only interview will not provide growth but performance will.

This article is for Freshman and Working Professionals who are interested in their career growth. Your career growth is in your Organisations’ Growth. So think equally.

About the author:

Manoj R Thakkar is Institution Head, International Institute of Management and Technical Studies (IIMT STUDIES, Ahmedabad).