One of the most revealing signs of the direction that the country’s economy is going is the season of placements of B- Schools.
This year’s season placement season at B Schools has been very different. Regular watchers of the education scene have been missing stories of high placed placements and astronomical salary offers to pass-outs from the IIMs and other B schools in newspapers.
But there is a reason for this and a very positive one which is revealed by an Associated Chambers and Commerce (ASSOCHAM) report about placement of B School graduates this year. I still don’t understand why they are called graduates although the course they do is called PGDM (Post Graduate Diploma in Management).
The report titled ‘PSUs back in reckoning’ reveals that instead of opting for private investment banks, FMCGs and consultancy firms, most of the students from B Schools are opting for PSUs like ONGC, NTPC, IOC, HPCL, BPCL, SAIL and public sector banks like the State Bank of India.
The report reveals that the rise in the number of applicants to PSUs this time as against last year has gone up by 65 per cent.
It may be too simplistic to link this sense of optimism with the Government sector to the return of a stable NDA government in New Delhi led by Narendra Modi but to negate this factor would be ignoring the mood of the country’s youth for whom Modi has become the most idolized icon in the current scenario.
The ASSOCHAM report has pointed out that this year SAIL received nearly 220,000 lakh job applicants as against 120,000 lakh last year. Similarly, ONGC received 150,000 lakh job applicants this year, increasing by 120 per cent than last year followed by NTPC (120,000 lakh), Indian Oil Corporation (IOC) with 98,000 job applicants Gas Authority of India Limited (91,000), Hindustan Petroleum Corporation Limited (88,000) and Bharat Petroleum Corporation Limited (75,000).
Since the report has been prepared by a business organization, it points out to factors like increased salary packages after the Sixth Pay Commission, job stability, increased perks and allowances which are all significant no doubt.
But the distinction between a PSU and a private sector job has always been there and these students who complete a PGDM from institutes like IIMS and other B-Schools where admission is granted after going through a proper CAT examination are much wiser than ordinary students, at least about monetary issues.
If they are opting for the PSUs in 2014 reversing the trend of so many years it is a clear sign that the youth of today is hopeful that now he would be able to work in an atmosphere where his personal growth would not be hampered by a corrupt and inefficient political leadership.
An ASSOCHAM report may not like to make political judgments, at least officially, but this report should certainly gladden the hearts of the new leadership. More than the talented youths who are reposing their faith in the Government it should be the PSUs which should be thankful that a group of talented, honest and dedicated work-force is offering its services to them.
– Amitabh Srivastava
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