Google+ Consumer Psyche: Dis - placement?


Sunday, February 15, 2009

Dis - placement?

THE WEEK-TMI First survey on MBA placements 2009:

The deep sense of caution and apprehension among students. Their priorities have changed, so, too, their expectations. As money is no longer the decider, some see it as an opportunity to listen to their heart.

If 'show me the money' was the motto until last year, B-school freshers are looking beyond the pay package this time. In fact, they are not in a position to bargain. Gone are the days of endless job offers, sky-scraping packages and 100 per cent placements on day zero. With the deepening recession, the whole economic environment has undergone a radical shift and B-schools are feeling the heat. Said Prof. Saral Mukherjee, chairperson, placement committee, Indian Institute of Management, Ahmedabad: "B-schools are closely connected with the economy. Any change in the economy will have a direct bearing on them. The economic downturn has affected us but its magnitude is not known till now."

Confronted with a crisis that is expected to only get worse, employers are tightening their belts and treading cautiously. They are engaged in a comprehensive restructuring mode and are pulling out all the stops to survive in the current market conditions. Many companies are following a wait-and-watch policy and have not made any clear manpower assessment this year. This has left many B-schools in a tough situation. "Our students are in a very desperate position this year. They are uncertain about the companies that will come down to recruit," said Subir Verma, chairperson, placement committee, Management Development Institute, Gurgaon.

Not that nobody is recruiting. Many B-schools claim that their traditional recruiters have either come and recruited or promised to show up. With companies rationalising manpower, there is a drastic drop in the number of jobs on offer per company. As attrition levels have gone down considerably in the last few months, companies have limited openings. They are not hiring in bulk but picking the best.

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