In a welcome move today, the Indian Institute of Management, Ahmedabad, has set out to review and alter its placement process.
Placements at the IIMs is a high adrenaline affair.
With their eyes solely on the number of interviews and PPTs to attend, most students lose track of the most important variable - that of the profile - Yes, something that you will do for the next few years and are supposed to be good at - gets trivialised.
It's no wonder then, that most graduates get disillusioned with the work content and leave their jobs within the first two years.
Compare this with what top tier B Schools abroad have to offer.
Having attended Career Planning and Placement talks of some of the better B Schools, I can vouch for the importance this particular function is accorded.
The focus is always "You". What it is you want, if you have a plan in place, if you can connect the dots and get there and some more.
Placement is not just about landing a multi million dollar job and a handsome bonus. It is as much about self realisation as it is about knowing your subject fundamentals.
Big names like Mckinsey, Google and Goldman Sachs are known to conduct a minimum of 10 interview rounds for laterals and 6 or more for fresh graduates.
It is measures like these that help them and the candidates decide if a relationship can be forged.
And, just so you know, all of them feature in the 100 best companies to work for, regularly.
If, you do not enjoy doing what the profile offers, even that bonus will play hide-n-seek.
In the run for the big $s, a lot of us forget about what we like and would love to do for most, if not the rest, of our lives.
And the Day Zero wrestling doesn't come in handy in our pursuit of happiness.
So, there would be much to celebrate if a saner system can be put in place, with atleast a month (wishful thinking, I know) of company presentations, coffee table discussions on it's trajectory, the work content and finally the take home.
How well participating MNCs can adjust to such a schedule, needs to be seen.
For now atleast, things are looking bright for the graduates.
Not that it is a masterpiece... Just that it's an easy read..
Joker in the pack traces the life of one Shekhar Verma - from his childhood in a modest neighbourhood in Delhi to the reverential corridors of an Indian Institute of Management.
Written in first person, this is an honest and straight forward account of a middle class guy, with dreams to make it big and his journey to the IIM - B and beyond.
The book gives us a detailed look into a Grad's life at the institution, his daily victories and defeats, the setbacks and little blessings...the longish days and even longer nights - all filled with classes, assignments, projects, extra currics, quizzes, tests, term papers, one-hour naps, 4 hour sleep days, summer internships, foreign exchange programs, summer placements, PPOs, final placements and a crazy, frenetic, dazed, coffee and booze filled life.
If this wasn't enough, our protagonist also has to deal with personal demons in the form of a broken relationship, a downward spiralling confidence and the incessant and mounting competition from batch mates.
The authors, Neeraj Pahlajani and Ritesh Sharma, both IIM B & L graduates respectively, provide for some genuine, honest and funny insights into what goes into the making of an IIMite.
In the form of Shekhar Verma, many a questions are raised - about age old traditions followed at the institution to "arbit" class participation requirements to the fascination for all female species on the campus to moral codes one shouldn't break during placements.
Shekhar represents a 22 year old guy, who by chance/design has ended up at the institution and wants to make it big. He doesn't fit the description of a genius, yet, manages to stay owing to sheer hard work and help from batch mates.
Joker in the pack does not make any moral judgments on the whys and hows of how such institutions work. It just brings to the fore what a graduate should expect and be prepared for during his stay at one of the IIMs (Or, I daresay, any top tier B school in India).
Mostly, I liked the book. Yet, it did give some insights which didn't go down very well with me, personally.
The protagonist, largely, has no particular purpose in life. Not that every 22 year old does. Yet, Shekhar Verma wants to be the king of the world at 22 - whether that comes through I-Banking, Consulting or any such fancy and glamorous field is immaterial. The profile takes a back-seat while all that is of prime importance is getting placed on Day 0 to maintain one's fragile ego. I am assuming this is representative of the large chunk of IIMiites?!
Studies have shown us how a large chunk of IIM graduates leave their first jobs within the first year of work. Isn't this because their personal goals or ideas might not align with those of the company in question? So why go through the high intensity, depression and panic filled Day 0/1/2 placements? Why not turn it into a 10 days/1 month period wherein the students as well as prospective employers can spend more time and see if they genuinely meet each other's expectations?
Also, this book should be read by the HR of all top tier companies that throng the IIMs. Just how do "Plan for next five years"/"where do you see yourself in the next ten years" help them sieve through the sea of students and zero in on the next CEO material? For me, these two are the most idiotic questions EVER.
I am making these points because the IIMs are the torchbearers of Indian Management Education. All other institutions follow what the leaders do. Doing away with their complex and not so transparent placement process would do a world of good to all the stakeholders.
So, Joker in the Pack is an interesting read. Do give it a shot.
Also, if you are keen on reading more in this genre, a better, sharper, funnier and a more wholesome look at a Management Graduate's life has been portrayed in Snapshots from Hell by Peter Robinson - a look into a Stanford MBA's life. A lovely read that leaves one spell bound and shocked at the same time !
Loads of friends from premier institutions haven't been placed yet and quite a few are just managing to hang on to their jobs.
How advisable is it to go for an MBA right now?
Duration of the course? (1 vs. 2 years)
MBA in India vs. Abroad?
I have been having lots of discussions within my tiny brain and also with lots of friends.
I believe an MBA is a long term investment and hence short term recessions and other incidents shouldn't affect our decisions.
Also, I have always believed in getting good enough work-ex and then applying to the best universities. Yet, looking at friends, some of who have been pretty intelligent and talented, taking up courses at mediocre colleges, just makes a dent in my own confidence and belief.
Their logic - Some day or the other, the university brand name ceases to exist. It's You. Period.
Yups. That's true. But I would like to do my Masters from a reputed institution. I would like to make it an experience. Not just a grind.
Is the wait worth enough?
Or am I missing some pretty obvious signals here?
Though, I have almost made up my mind, yet a good discussion here would only help me see the larger picture.
I seek suggestions/advice.
