Career in Business Management in India – Job Prospects
Fresh management graduates are usually recruited on – campus. Corporate organizations, multinationals, foreign banks, foreign financial institutions, and others attempt to woo students from the top management schools with lucrative job offers. Most of the major business schools have also initiated career placement schemes for the benefit of graduating candidate. MBA degree holders can join any of the following as executive or assistant managers.
- Financial Organizations
- Public Sector Enterprises
- Industrial Houses
- Business Houses
- Export Companies
- Multinational Companies
- Marketing Organizations
Remuneration package for the MBA’s are among the highest today, as there is still a predominant shortage of well – trained managers. Starting salary and perquisites vary depending on the size and prestige of the recruiting organization, the candidate’s qualification and the institute of training. They could be as low as 8,000 per month or as high as 1,50,000 per month for IIM graduates. An MBA degree with an additional professional qualification, like Chartered Accountancy ( CA ), Indian Cost and Works Accountancy ( ICWA ), Company Secretary ( CS ) or Chartered Finance Analyst ( CFA ), enhances a candidate’s earning capacity.
With rapid expansion of management education after 1994, the need for maintaining quality of education became imperative. Ministry of Human Resource Development, AICTE and NBA, etc., are the regulatory agencies for deciding bench marking and ensuring quality assurance in management education. At present, Indian B – Schools are of different shades. There are IIMs and other super – league management schools with global standard of quality. On the other hand, there are also business schools which seriously lack quality. In spite of growth in access, however, with more than 20 crore population in age group of 17 to 25 years, the country needs much higher number of managements schools. More over, India has potential to export education but contrary to it, due to lack of access, every year about 1,40,000 students go to foreign countries for higher education, draining out $ 4 billion foreign exchange per year. It shows the need to promote quality management institutions in India rapidly.
The author is Director, Keshav Institute of Management,
Asandh – Kohand Road,
Haryana ( India ).
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