XLRI, Jamshedpur | Good Times Back during the Placements Season of General Management Program

 | July 20,2010 02:10 pm IST

The economy might still not be out of the woods yet, but that didn’t spoil the placement results of the latest batch of the 1 year full time General Management Program at XLRI Jamshedpur. On the contrary, the placements of the GMP batch of 2010 bore a remarkable similarity to the heady days of placements of the pre-recession era of 2006-2007.

 

The rolling placements at campus started in February 2010, followed by placement drives at Mumbai and Bangalore. A total of 82 students participated in the placements, with 15 on-sabbatical students joining back their previous organizations. The response of the corporate world was overwhelming this year and many renowned names in the industry took part in the placement process. Prominent among these were names such as Google, Mind Tree, SAP, Accenture, IBM, HCL, HP, Mahindra Satyam, Tech Mahindra, Wipro, TCS, Future Group, Apollo Hospitals, Infosys, Applabs, Daimler, Exide, Genpact, Tata Motors, etc.

 

The salaries offered also saw a huge jump as compared to last year. The highest salary offered was Rs.30 Lakhs whereas the average was Rs.15 Lakhs. There was an increasing trend towards hiring for senior management positions by the corporates. Some of the roles offered were General Manager, Business Unit Head, State Head, Global Leadership Cadre, Assistant Vice Presidents etc.

 

A number of students were able to make shifts in sector/industry and roles. While 17% students could successfully make a shift in sector/industry, around 38% students were able to change roles. Notable shifts were made by doctors in the batch who were able to switch from medical practice to leading managerial roles in the health sector. Also many students from the IT sector were able to shift from conventional programming and project management roles to business manager/consultant roles. Other remarkable shifts made in industry were in case of two students from IT sector who were offered roles in operations in a large retail group and in corporate sales/marketing in a leading music label. Further, many students from core sectors made a shift to IT as domain/subject matter experts/consultants.

 

   

  

General Management Program (GMP) is a 1 year, full time flagship MBA program at XLRI, Jamshedpur. Started in 1997, it is the oldest 1 year MBA program in India and is only open to students having minimum of 5 years quality managerial work experience. The program, with about 1000 contact hours, is also one of the most rigorous in India and includes value added modules such as a three week mandatory international immersion program, a three day village trip, etc.

 

Concluded.

 

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Comments


Aurobindo Saha on 07/21/10 at 06:26 am

Few concerns with this statistics. The author seems overwhelmed about the salary packages; the article was vitalized with the salary figures. There are other aspects of going management studies which does not show compelling results through GMP, off curse all in my humble opinion.

Firstly I feel 15 L annual package is not a WOW figure, particularly after spending investing around 50L. Why I say 50L? Most likely, you need to opt for a student loan which will be around 15L and you pay about 15L as interest - a liability that needs to be borne at least for next few years even you get a handsome salary package. Then you lose 4 to 5 quarter's salary which is close to 15 to 17 L for a 10 to 12 years’ experience person in IT industry. Thirdly, the time value for money and the opportunity cost, which may be difficult to quantify but definitely has high significance.

Now leave money apart, what are the in-tangential goodies? You learn more, your vision towards business world widens and you enjoy the nectar of learning more and more every day. Is 50L investment too costly a price to pay for that nectar? I say - 'no''. Particularly, when you do studies from XLRI, an institute sustained for many decades by values of sheer "excellence, integrity and honesty".

Now let's look at some tangential benefits other than the salaries. Firstly you are placed in the upper strata of corporate cadres, and with right exhibition of your skill and expertise, the sky is the limit. If you do not undergo an MBA course, it may take years even decades to reach that upper crust, forget about competing there in the first place. Secondly, take a look where the author says - "While 17% students could successfully make a shift in sector/industry, around 38% students were able to change roles." - well this is not very compelling. Is it because people do not want change of job, or they do not get opportunity for change of job? Many IT professionals find themselves in mid-career crisis, and seek opportunity for changing avenues by doing management studies. For such endeavors, these numbers is not very rejuvenating. Does that mean you go MBA to stay broadly with the same kind of job you were doing so long, might be with slightly different flavor? For example, earlier you were a IT project manager, handling couple of projects, doing project kick offs, effort estimation, running PMOs, and fictionalizing all the engagements that's needed to get a project done but now you are handling business accounts, or maybe doing business consultancy for finding IT solutions as techno-functional analyst? Does that sound very exciting change? No, not for me. Well, I apprehend the nectar jar lies ahead in road. The role change might not be drastic immediately, but it opens avenues for future changes. If you are in true quest for change, MBA knowledge will give you leverage in long run.

To summarize my views, let me reiterate that - though the recruitment drive have brought breath of fresh air and hopes among the aspiring MBA students, but it may not be so promising and rosy as it sounds. Salary is one part to it, while knowledge gain and job change are other parts to it. While the latter may be well sufficed, when you study from repeated institutes, the salary offered is yet to justify the return on investment that candidates are making. The shifts in role can be a reason for people who are looking for real change in terms of the current work they do. Though the related figures produced for the placement office is not very convincing, but in long run MBA qualification from reputation institutes like XLRI will allow you to seek a new paradigm job and role change. We are noting the change happening steadily, and hold high hopes for coming days.

Disclaimer: The views expressed here are completely personal in nature, and is not an attempt to convince others. This in no way is an attempt to criticize the reputation of MBA institutes.


devang on 07/21/10 at 07:47 am

Hi

I think you do have a good point. In fact of the late B-Schools are too much focussed on salaries which is driving all admissions but is also akin to riding tiger. everything is good as long as tiger is running. we wont know what will happen when the tiger stops.


shuvdeep on 07/21/10 at 08:32 am

Dear Aurbindo,
When you are writing about financial stuff like loans,interest and opportunity cost of salaries,please get your basics right in financial knowledge and get the data right about the fees a XL GMP student has to pay and the rate of interest he's charged.Please dont write about those stuff about which you dont have any knowledge.


Vijay on 07/21/10 at 09:19 am

Aurobindo has a point here.
However frankly no one year programme offers the kind of average returns(WOW returns i suppose) in India including IIMS and ISBs.Author in that sense has a point here to convey.


Spaceman Spiff on 07/21/10 at 09:41 am

Aurobindo,

You should really try to work the numbers out before you come and spew numbers like 50L. I understand the human tendency towards round numbers, but your so called back of the hand calculations are so way off, its not even funny. As for the so called 'unquantifiable opportunity cost', haven't you already factored in your 15 to 17 L salary.
Besides working on your numbers you also need to get your understanding of basic economic terms right.
And allow me to reiterate too, while your understanding of the long term objectives of the MBA are right, you need to just work on your numbers to understand that the ROI could be pretty good for a majority of the junta in the short run


admin on 07/21/10 at 10:04 am

Hi Spaceman Spiff and all

We request all to maintain a minimum level of dignity and not make personal attacks and since all are MBA here and men/women of logic, let us counter arguments by logic only.

It looks like Mr Aurobindo had made a point so that argument shall be countered by demonstrating how the statements and calculations wont hold true rather than urging author to recheck his nos etc.

Thanks in advance


Shss... on 07/21/10 at 10:57 am

Facts used by Aurobindo in reasoning the opportunity cost here is completely distorted and have no credence whatsoever.

Coming to think of it, today one gets to learn about financial prudence from someone who does not even have the basics right, such is the extent of freedom of expression that is available today.

My dear sir, you dont realize but you just stole away the right from an esteemed institution to lay claim on the distinction of floating the most value for money MBA in the country today. Its all relative, first lesson you get to learn during an MBA is to understand the importance of comparitive analysis, which you seem to have missed downright and therefore more of a reason for you to join a prestigious B-school.

On second thoughts, institutes of the calibre of XLRI never place so much emphasis on placements and ensuing statistics as much as on academics, values and integrity.(Refer the village programme bit, outbound and social initiatives taken,see you yourself took most notice of the avg. sal. figure only) So please refrain from lambasting the institute or the credibility of doing an MBA or whatever you were attempting to achieve through comments.

To provide your share of thrill you were looking for in the sector shift stats, i guarantee you can make yours as well contingent on the amount of grit you are prepared to demonstrate in shunning a cosy career and in starting from scratch. In which case me and thousand others can bet you will be the one in those who constitute 17%.

I thoroughly understand the constant state of mental conflict one undergoes before signing up for an MBA so i hope this post helps resolve few of them.


Kash on 07/21/10 at 11:07 am

What exactly an MBA from one of the Premier institutes does, is thinking with your feets on ground, logically and unbiased.
Its not a short term investment, its an investment which is long term....

Lets look at an MBA from XLRI GMP which is a 1 year course.
Fees: 11.34 lacs
1 years miscellaneous 50k
Lets round off to 12 Lacs

In case I take a XLRI loan of 10 lacs at 10.75% PA and I start paying after 6 months of completion of course, then my monthly EMI for 60 months comes out to be Rs. 22000 (Aprox).
So the total money paid is : 60 X 22000 = 13,20,000

The other part i.e. the slary that we would have earned for one year:

On an avg the work ex is 7.3 years, in that case an average incoming salry would be around 10-12 lacs PA.

So the total expenditure goes up to: 25 lacs.

Now lets see what an MBA grad gets after 1 year:

Tangiables:
1. A salary of 15 lacs (considering the avg., can't help it because grapes are not sweet for everyone and it also depends on personal abilities and capabilities)
2. A better role, which might be 2- 3 years higher than what we would have continued doing in case of not doing an MBA.

Intagiables:
3. A better logical persective of the day to day world.
4. Handling uncertain and unambiguous situations more easily.

Offcourse I haven't taken the tIme value for money in this case, because it would balance out approximately both the investemnets and the returns.

I am not sure whether this would help in understanding why an MBA and Why NOT an MBA; because end of the day it depends on an "YOU" and "Your Capability to utilize the learning"


Charu on 07/21/10 at 11:52 am

I almost got admission in a top B-school last year but i withdrew coz i didn't wanted to compromise.
i thought i deserve better ... but after reading all this stuff i am much more baffled now and wondering weather to do it at all or not !
Can somebody guide me


an MBA Grad on 07/21/10 at 12:45 pm

To tell u the truth, these pre-MBA and post-MBA analysis don't help anyone....if you want to do an MBA..go ahead & do it...else live life blissfully evaluating others' debacles and successes.

To the best of my knowledge, I haven't come acorss any single person who has regretted doing GMP or any other MBA course.


Durgesh on 07/21/10 at 12:46 pm

Guys,
Let me share two pieces of GYAN from two of the best finance Profs in India. Prof S Sengupta and Dr Uday Damodaran.

“Think NPV” and evaluate the decision based on "with or without". How? Allow me explain this.

Any investment proposal is evaluated based on the present value of future cash flows. Executive MBA is just like any other investment. We just need to put together some realistic cash flows estimates

Make 2 columns in EXCEL, “with MBA” and “Without MBA”
Now estimate the cash flows. Remember it’s the final cash you get after taking out Income tax, loan repayments and other deductions. You may want to exclude basic living cost also from this as these factors will remain the same in both options.

For example, the cash flow from “with MBA” for the year zera will be a negative value equal to the down payment of your education loan. For year one onwards, the cashflow on "with MBA" column can start based on the average CTC of 15 L. Take a time horizon of 10 years and increase the annual cash flow by some % every year (your annual salary increase). I know it’s difficult to convert other benefits of an MBA (better role, better perspective and understanding of other business function) but try to put rupee value (even a conservative estimate will do) for these benefits.

Use the EXCEL function NPV(rate, cash flows) with a rate equal to average inflation in last 10 years, say 5% and you’ll have your answer my friend. If the NPV of “With MBA” is even 1 rupee more than “without MBA”, you should go for it.


Sameer on 07/21/10 at 01:48 pm

Hi All,
I believe Durgesh's post in the comments to reply to your posts , clearly explains and we all as part of GMP also sincerely believe that it has +ve NPV in the past and present and highly like in the future .Thats the reason we believe it deseves the publicity esp given the fact that it is infact one of the very few top-notch 1 year MBAs in India which had 95-99% placements(for 09-10 batch) on & before convocation ended for our programme (not ISB, nor IIMs can vouch for that) and I think that deserves to be told to the world and hence the post on coolavenues for the same.

Thanks and Rgds


Guesucshukla on 12/21/10 at 08:01 pm

tell me about NRI kota in xlri jamshedpur


guest on 12/23/10 at 03:33 pm

Hi Guesucshukla

XLRI offers NRI kota. For NRI/PIO/Foreign candidates who have taken GMAT between 01 January 2009 and 31 December 2010 should register online.

You can check this link for more details
http://www.xlri.net.in/nri_foreign.aspx