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Jobs after MBA – International or National

Praqtise — Wed, 30 Nov 2016 15:51:05 +0000

The final reward

A fat pay package job – The final reward of your years of toil though the educational system. Let us be point-blank pragmatic here, while your endless educational expedition does leave you learned and wise, the only tangible reward that you can flaunt are the jobs after MBA. What better way to land yourself a fat pay-package than an MBA from a top B-School. There is enough discussion among anxious CAT candidates that securing a good B-School is the penultimate step to success.

And why not! It is almost certain after that that you would land yourself in a respectable company, with a respectable position. Over the last few years, apart from the best Indian companies, top MBA colleges have managed to get International companies on their campus too. This gives a choice to the students to eye at a career outside India. While this option looks extremely mouth-watering, let us dissect it a little further. We shall look at the countries you actually get to go to, the salaries offered and other pros and cons of international placements.

The idea is to leave the reader better informed. Are International Jobs after MBA actually as good as the top-notch offers from Indian Companies? If one finds international placements really attractive – what is the right way to prepare for the same?

Dissecting International jobs after MBA

It will be interesting to know that international placements have postings across the globe. The lustre around an international placement might die for some if you get posted in an unknown country of Africa. Some important things you have to consider are –

Location

Most B-Schools do not easily reveal their international recruiters on their website. Yet a detailed analysis of the placement reports shows that 90% of the international jobs after MBA are located in The Middle-East, Africa and South East Asia. Some well-known recruiters are Olam International (Africa and South East Asia), Landmark Group (Middle East), Goldman Sachs (USA and South East Asia), Deutsche Bank (USA and South East Asia).

An international location means experiencing and adapting to climate, food and culture. How smooth this transition will be is likely to differ from case to case. “Dubai feels a lot like India! The food is wonderful, maximum expats are Indians or Pakistanis so you tend to feel at home.” – said Abhinav after working in Jumbo Electronics for three years. He was placed there from IIFT, known for its flagship International Business course, in 2012.

On the other hand, Anubhav of FMS 2012 batch, has a different opinion about his placement location Abidjan (Ivory Coast, Africa) in Olam International – “It took me some time to get used to the culture here. The place is beautiful but I am a vegetarian so I had to literally innovate with the food here.”

Good research of the location that you would get is very important to have the right composure. While some students revel in the alien culture, some get extremely anxious.

Relevance of the pay-package

Converting a foreign currency to Indian equivalent just through the conversion ratio might not work! PPP (Purchasing power parity) is a much important way to guess the value of the package.

Comparing with Indian Jobs

In all these parameters discussed above, do overseas jobs after MBA stand to be outright winners? Not really! India is a diverse country geographically, culturally, and economically. Location, local rents, and cost of living in each location vary drastically. Yet, within the country, transfers and movements are much easier.

Also, a secondary consideration is that you would have a much colourful social life in your country! You will have to make difficult choices – a fat pay-package or staying closer to home, long-term savings or a happening social life! Like in every decision in life – you will have to leave a few things behind!

Future professional growth prospects

An international placement does not guarantee exceptional career growth. On the other hand, domestic placements are not necessarily inferior. A number of factors are at play, including geographical location. A job in Africa or Middle East is likely to pay handsomely, but will not paint a clear picture in terms of long term growth.

The state of the economy of any country has a very direct impact on the job market . A country experiencing sluggish growth will offer limited prospects. The sentiment prevailing in the country regarding immigrants also plays a key part.

It is a different story when it comes to working within India. You can apply to work in parallel industries and improve your job profiles gradually.

Preparation to get your Dream International Job

If international placement is looking attractive to you, how do you ensure that you get one of those jobs after MBA ? It is always good to have a rough idea of which are your dream companies as early as possible. This helps in developing a profile which is attractive to them.

The first step is to get noticed. Your resume should bring out your best professional qualities and give a glimpse of your personality. Plan your resume keeping the company you are applying for in mind. Company related, industry related and geography related preparation would be very necessary.

So are you excited to travel outside India for a job? Do write to us if you wish to know more!

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Image Sources

Cheque

Location

Burger

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5 well-known media personalities who cracked the CAT exam with great results

Praqtise — Thu, 24 Nov 2016 11:28:50 +0000

Numerous disciplines are offered if you plan to do an MBA

One evening, I was having a conversation with my father about my plans after graduating in Mass Communication. My dad suggested that I should pursue Masters in Journalism. But I was not sure if that was indeed what I wanted to pursue.

I countered my father, saying that I would like to give the CAT exam and pursue an MBA. My father said that how would I study accounts, statistics, business studies, and other subjects without having the basic knowledge. To him, MBA is limited to a few disciplines like Marketing, Finance, HR, and Operations. It was then that I told him that one could pursue an MBA in Journalism and Mass Communication as well. He stared at me wide-eyes for a few minutes, not believing what he had heard. But then again, at his age, and with such a limited exposure, who can blame him?

Let alone my father, many MBA aspirants do not have enough exposure to know the number of disciplines on offer. Avenues like Brand Communication, Media Management, Research Analytics are up for grabs.

MBA in Communication is the new ‘MBA marketing’

The concept of the conventional MBA with only a few specialisations is changing with the times. Today, you can find some of the most unconventional disciplines to pursue if you plan to crack the CAT exam and pursue MBA. And what better way to catapult your career to success than pursuing an MBA specialisation in the discipline you wish to make a career in? I wish to pursue a career in Journalism, which is the reason why I plan to pursue an MBA in Journalism or Communication. With the advent of social media and hence, social media marketing, an MBA in Communications is gradually becoming equally and even more valued than MBA in Marketing. As more and more companies start realising the importance of social media, communication, and brand management, numerous opportunities are going to open up for MBA graduates specialising in Communication and Journalism.

Five celebrities who aced the CAT exam

The following is the list of celebrities and media celebrities who have studied MBA and have scaled great heights of success.

Prasoon Joshi

We all know Prasoon Joshi for his award winning lyrical work and screenplay . However, a lot of people don’t know that he is also the CEO of McCann World Group India, which is a subsidiary of McCann Erickson, a global marketing firm. Prasoon Joshi has successfully completed his MBA from IMT, Ghaziabad, which is one of the most prestigious colleges for studying MBA in India.

John Abraham

John Abraham is one of the top stars of Bollywood. John holds an MBA from Narsee Monjee Institute of Management Studies in Mumbai. NMIMS is one of the most prestigious Business Schools in India.

Siddharth Suryanarayan

Siddharth who is a successful actor and an MBA graduate from SP Jain

Siddharth is a beloved actor well known for his performances in movies like Rang De Basanti. He is also a singer and a screenplay writer. Siddharth too is an MBA graduate, from SP Jain Institute of Management and Research in Mumbai.

Mini Mathur

Mini Mathur, the successful model, actress, and host; best known as the host of Indian Idol season 4. She is also a Video Jockey and has hosted many shows on the popular channel MTV. However, not many know that Mini is an MBA graduate from Institute of Management and Technology, Ghaziabad.

Ira Trivedi

Ira Trivedi is a columnist, yoga teacher, and an author. Her most popular works include ‘What Would You Do to Save The World’ and ‘The Great Indian Love Story’. Ira Trivedi is as a successful MBA graduate from the Columbia School of Business.

PRAQTISE Fact File

Mallika Sarabhai is yet another minor celebrity turned politician who cleared the CAT exam and pursued MBA from the most prestigious B-School in India – IIM Ahmedabad. Similarly, Deepika Narayan Bhardwaj, the independent film-maker holds a Post Graduate Diploma in Journalism from the Indian Institute of Journalism and New Media.

A Praqtical Look

It is inspiring to look forward to a role model in the field that you want to pursue. Knowing that people who have studied the same discipline have excelled at whatever they have done gives you the much-needed motivation to achieve your career goals. Keeping an update of the successful people in the discipline which you want to follow can inspire and motivate you in the right direction.

Which of your heroes also hold management degrees? Do share with us in the comments.

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Image Sources

Prasoon Joshi

John Abraham

Siddharth Suryanarayan

Mini Mathur

Ira Trivedi

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Five women who choose unconventional careers after MBA specialization

Praqtise — Thu, 27 Oct 2016 09:32:11 +0000

Shreya’s life at IIM-L was one that was truly memorable. This included the frequent secret outings as well as the periodic bouts of craziness. She was never too interested in studies; however, she always had a knack for the creative and the crazy. She used to persuade and help her friends whenever they had second thoughts during the late night hostel bunking, or the early morning trek into the hills. After coming out of IIM-L, almost all of her friends took up dream jobs, with great salaries, perks, paid leaves, and guaranteed personal growth.

However, whenever her friends wanted to get out of the mundane routine of their everyday lives, they would go to Shreya for some much-needed respite. However, Shreya did not care much about them, especially when it came to pushing them out of an aeroplane! Oh, do not take that part too seriously. What I meant to say was, even when her friends screamed on top of their lungs, she would carry them to the door of the plane and jump with them into the skies. I’m sorry if I sound too vague, but it might be because of the fact that I have not told you how Shreya became a full-fledged sky-diving instructor after her exit from IIM-L. But, that is a story for another time…

MBA aspirants are usually consumed with the need to have a secure job and a six-digit salary, rather than using their experience for exploration of unknown and unconventional professions. They want more from their career, which is gratifying and satisfying at the same time. These people have the capability to leave their MBA salary and job to venture into uncharted territories and achieve something truly unique. The world has many examples of people who dared to do this.

So let’s look at five ladies who dared to choose an unconventional career after MBA specialization.

Parineeti Chopra

Parineeti Chopra has a triple honours degree in business, finance and economics from Manchester Business School in the UK, with a dream to be an investment banker. However, the 2008-09 recession forced her to return to India. Here she landed an internship at Yashraj Studios as a PR consultant. By spending more time on the sets and learning about filmmaking, she went ahead to become an actress in the Bollywood. Her first movie was Ladies Vs Ricky Bahl, and since then, she has not stopped excelling in her passion.

Rashmi Bansal

Rashmi Bansal is the author of 2 bestselling novels – Stay Hungry, Stay Foolish and Connect the Dots. She is an MBA from IIM Ahmedabad. Being a scholar throughout her life, Rashmi is a prolific writer with over 100 articles featured in leading newspapers and magazines. She initially took a job as a brand manager at BCCL but now she is a renowned author and entrepreneur. Most of her books have been on entrepreneurship and successful startups.

Richa Kar

As the founder and CEO of Indian lingerie e-tailer, Zivame, Richa Kar has been a successful entrepreneur. She holds an MBA degree from NMIMS and has worked for companies like Spencers and SAP retail consulting. During her stint in the corporate world, she learnt that there was social discomfort surrounding lingerie shopping in India, which created problems for consumers as well as retailers. This lead to the beginning of her entrepreneurial venture in the form of an online lingerie store, which is now a leader in its domain. The store offers more than 5,000 styles, 50 brands and 100 sizes.

Chhavi Rajwat

Popularly known as the Sarpanch with an MBA, Chhavi made headlines in 2011 for being the youngest Sarpanch in India. She has studied at LSR and completed MBA specialization from Sri Balaji Society, Pune. This got her into a regular MBA jobs at a top corporate. But, she gave up her job to help in the development of Rural India. Now, she is taking the lead in the development of Soda Village in Rajasthan. She has implemented many projects successfully, like rainwater harvesting, toilets facilities and more in her stint as a Sarpanch.

Sona Mohapatra

People know Sona Mohapatra as an Indian singer, music composer and lyricist. She has sung famous songs like “Ambarsariya”, “Jiya lage na”, etc. But not many know that she has an MBA specialization from the Symbiosis Centre for Management & HRD, Pune in Marketing & Systems. Before pursuing a full-time career in the music industry, she has worked on big brands like Marico, Parachute and Medikar. But, passion is greater than big brand names, so now she works on her music and creates wonderful pieces for her dedicated audiences.

Praqtise Fact File:

Person	First Job
Parineeti Chopra	PR Consultant
Rashmi Bansal	Brand manager
Richa Kar	Retail Consultant
Sona Mohapatra	Brand manager

A Praqtical Look: Getting an MBA specialization does not mean that you have to do only an MBA job. If one has dreams and passions beyond their current state, they should give it a try. Take up a job that gratifies and satisfies you and not the one which is set in stone because of an education degree.

Do you agree, tell us in the comments?

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Image sources:

Parineeti Rashmi Richa Chhavi Sona

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How have MBA graduates impacted the advertising industry of India?

Praqtise — Sat, 22 Oct 2016 11:22:05 +0000

“Time to get some inspiration!”

Mitesh and Aazib were best buddies. Aazib was a smart, talented and creative boy. He liked to take part in advertising competitions. He was able to deal with the creative aspect of such events very naturally. Mitesh was the IT expert. He managed the technical part. Their duo won most of the competitions. After graduation Aazib wanted to do MBA in Marketing and Mitesh wanted to do M Tech in IT from the Unites States. College ended, years passed, both of them became very successful in their respective fields and countries, but they lost touch with each other.

Mitesh wanted to grow his business in India, so he began to talk to his friends here about leading Ad agencies. He happened to look at the Forbes Magazine of that month and he was stunned to see the cover page. It was his teammate, his friend, Aazib on the front page, the new CEO of one of the most prestigious Ad agencies in India. Mitesh was happy because he had found a way to get in touch with his old friend and also because his friend was the CEO of one the leading Ad Agencies in India.

‘The ever-changing Advertising field of India.’

Advertising in India in the past meant printing ads in the classifieds and jingles on radio. After the television was invented, ads were shot and displayed on TV. Door to door publicity, advertising mailers, marketing hoardings soon followed.

Some of these advertising methods still exist, but most of them have become old and obsolete.

But soon the times changed and so did the field of Advertising in India. With the introduction of social media, knowledgeable customers and competition, it became necessary for the media companies to strive to do better.

Fact file: Digital marketing is the new marketing. Digital marketing industry is estimated to be worth $68 billion. While all the other sectors are struggling with a growth rate of 5 to 10%, the media industry is growing at a rate of 40%. And the growth is not going to be stagnant in the coming future.

‘Get inspired by the big shots of the Advertising industry who are MBA graduates also.’

Leaving aside the change brought about by technology, the growth in advertising as an art is the result of certain outstanding creative minds.

Some of the best MBA colleges in India have been producing graduates who have changed the face of advertising in India. They are making an impact on our lives on a daily basis, but we might not know about them.

Some of the MBA graduates who made it big in the industry and the highlights of their career are mentioned below.

1) Prasoon Joshi

Prasoon Joshi is known for being a famous lyricist, screenwriter and ad-guru, but not many people know that he is a student of MBA Marketing from IMT Ghaziabad. Yes, that’s surprising! Prasoon is the the CEO of McCann World group India and the Chairman. He is also a writer and poet, mainly in Hindi and English languages. The Government of India awarded him the Padma Shri in 2015 by for his contribution in the fields of Arts, Literature and Advertising in 2015. He also won himself the Filmfare Best Lyricist Award three times, in 2007 and 2008 and again in 2014. Prasoon has also received the National Film Award for Best Lyrics twice, once for his work in Taare Zameen Par, and the second award for Chittagong.

He started writing a book at an early age of 17. While pursuing MBA, he decided to fuse his love for culture and art and his passion for advertising to build a career in the field.

He started his career with one of the world’s leading agencies, Ogilvy & Mather. He became a creative star in the company. Prasoon rose to be executive creative director of the flagship Mumbai office within ten years of joining. In 2002, he joined McCann-Erickson as executive vice-president and national creative director. By 2006, he was the regional creative director of South East Asia. In December 2006 he was elevated to executive chairman for McCann Worldgroup India and regional creative director for Asia Pacific.

2) Kunal Jeswami

Kunal Jeswani, the Chief Operating Officer of one of the most prestigious advertising agencies of India, Ogilvy and Mather. He is an alumnus of one of the very first PGP batches of MICA, Ahmedabad. He completed MBA specialization from MICA in 1996 and started his career by working for Enterprise Nexus. After that, he became the Managing Director at The Republic. Before he became the Chief Executive Officer of Ogilvy and Mather, India, he enjoyed working as Senior Vice President, President & Country Head and Chief Digital Officer. Some of his clients include Unilever, Cadbury, Vodafone, the Indian Premier League and Tata Motors.

3) Madhukar Kamath

Madhukar Kamath is the Chairperson of the Governing Council of MICA. He is an Economics graduate from Loyola, Chennai and he studied Management at XLRI Jamshedpur. In 2011, Madhukar helped Omnicom in acquiring Mudra Group and in steering its integration into DDB Worldwide. This new entity became the DDB Mudra Group. Currently, he is the CEO and MD of DDB Mudra Group. With more than three decades of experience, he has spent close to twenty-five years in the DDB Mudra Group. He is responsible for the acquisition of Clarion and bringing Bates and Zenith Media into the country, facilitating the entry of Abbys in Goafest, opening the doors for Media Agencies into AAAI and chairing the highly successful AdAsia 2011 in Delhi.

4) Diwan Arun Nanda

Diwan Arun Nanda, Chairman and Managing Director of Rediffusion- Y&R is a graduate of IIM Ahmedabad. He was the advisor to the late Mr. Jawaharlal Nehru and also a jury member to Cannes Film Festival. Between 1993-1995 and 1999-2000, he led Advertising Agencies Association of India as President. He holds the Distinguished Alumni Award by Loyola College, Chennai and IIM-A.

You could be one of them too! So, don’t waste time and start preparing. If you have any doubts or queries, or if you want to share something, do write to us. We’ll be happy to help you.

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Image Sources

[1]: http://www.pinkvilla.com/files/images/k_23.jpges

[2]: http://images.indianexpress.com/2015/03/prasoon-joshi.jpg?w=438?w=370

[3]: https://www.mica.ac.in/alumni-in-news/kunal-jeswani-becomes-the-ceo-of-ogilvy-mather-india

[4]: https://www.mica.ac.in/madhukar-kamath

[5]: http://www.iimahd.ernet.in/institute/about/alumni/illustrious-alumni.html

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Career options after MBA Marketing

Praqtise — Fri, 30 Sep 2016 19:24:50 +0000

“ MBA Marketing – The gateway to the most sought after corporate jobs.”

A group of students from an MBA Marketing class are talking about their upcoming campus placement schedule. It is fascinating to know their viewpoints for jobs after MBA in marketing.

“Guys, keep your fingers crossed…all of our dream companies should participate in campus placements this year.”, Ganeshan said.

“Yeah, I have always dreamt of getting a sales job in MNCs such as P&G, Johnson & Johnson, HLL, etc.”, Vinayak replied.

“Why do you think of just sales jobs? There are many better options for MBA marketing students”, Gajanan pointed out.

“Yeah, I also prefer advertising, media, or digital marketing jobs.”, Bhalchandran said.

PRAQTISE fact file: MBA marketing contributed to 1/5 of the total campus placements for PGP program of IIM-Ahmedabad for the year 2016.

Sector – wise scope

Marketing is an essential field for all the industries across the economy starting from pharmaceuticals to IT. These industries recruit thousands of students with MBA marketing degree every year. They also provide excellent career prospects and handsome salary packages in India and foreign countries. There are brilliant opportunities in both public as well as private sectors. The major industries that recruit MBA are listed below.

1) FMCG

This is one of those sectors that hire the most number of marketing students. FMCG sector offers the highest packages to students of almost all the Top B–schools. The top recruiters in the industries include:

Colgate – Palmolive
P & G
Johnson & Johnson
Hindustan Unilever Limited (HUL)
ITC
Nestle
Parle Agro
Britannia Industries Ltd.
Godrej
Marico, etc.

2) Telecommunications

Telecommunications is one of the best sectors to work for with a great scope for future growth. Telecom sector companies participate in all the top MBA colleges and offer attractive packages to MBA marketing students. Here is the list of top recruiters:

Airtel
Vodafone
Tata
MTS
Reliance
Idea (Aditya Birla Group)
Aircel
Uninor etc.

3) Manufacturing

Students with an engineering background and MBA marketing degree get the most number of offers from the top manufacturing companies in India. This sector provides lucrative salaries and incentives both in India and abroad. Top recruiters from this area include:

L & T
Aditya Birla Group
Apollo Tyres
Jindal Steel
Videocon
Asian Paints etc.

4) Public Sector Companies

Almost all the Maharatna and Navaratna companies of India participate in campus placement of top MBA colleges in India. They provide great packages coupled with high job security and prestige. Top recruiters in public sector include:

BSNL
MTNL
ONGC
NTPC
Public Sector Banks, etc.

5) Digital Marketing Jobs

Apart from the conventional sectors listed above, internet marketing jobs are also preferred by students. The online marketing jobs include profiles for e-commerce, SEO strategy, online advertising, social media marketing, e-networking, content marketing, etc. Some companies that offer MBA jobs in this domain are:

Flipkart
Amazon
ShopClues
Paytm
SnapDeal
GoDaddy, etc.

6) Consultancy/Market research

Consultancy jobs are the cream of the crop in MBA placements. The global powerhouses of consulting are very picky and only hire from the top 10 ranked institutes. Market research firms are less selective and open up an incredible field for aspirants from many MBA colleges. Some of the most recognised names are

Deloitte
Accenture
McKinsey
Nielsen
IMRB, etc.

Growth – wise scope:

The work profile, position, designation and salary package offered to a student depends on grades, the repute of the MBA institute and work experience. Here, we have compiled the designations at which a student with an MBA Marketing degree gets recruited.

Business Development Executive/ Manager
Area Sales Manager
Market Research
Brand Manager
Sales Manager
Media Planner
Internet Marketing Manager
Product Manager
Research Analyst/Associate

The roles and responsibilities of these positions involve team building, team handling, strategy formulation and implementation, etc. The majority of these posts require some amount of field work. Hence, a marketing professional needs to be more dynamic and prepared for travelling. For those who thrive in a challenging environment, there are great possibilities of reaching top management levels such as Vice President, President, Chief Marketing Officer, Chief Operations Officer and Chief Executive Officer. So, put in all the hard efforts to get your desired goal. A brilliant career awaits you in the field of marketing.

A PRAQTICAL Look

A marketing graduate gets exposed to some opportunities within their industry sector. However, now and then one might wish to switch from one area to another. This might be easier to achieve early on in one’s career. However, changing sectors after a significant amount of experience is tough. Ground realities of each industry are very different than others. Companies seek to employ people who have proper exposure to an industry vertical over newcomers. Students should, therefore, invest time in building knowledge about the work environments in different domains. The ideal way is to have a long term plan for the construction of a career in a particular sector.

Have you wanted to build a career in the field of marketing? Do you have a dream role or a dream company? Please tell us in the comments.

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5 lesser known MBA specialization with great career prospects

Praqtise — Mon, 12 Sep 2016 10:23:42 +0000

Hi, my name is Kartik! I am fond of the workings of my native place and rural areas in general. Case stories of Amul, ITC e-Choupal are so exciting and I want to work in rural India. Which MBA specialization should I go for to kick start my career?

Hello, my name is Vidyut! I like to play with numbers and I want to make a career in energy management. We all know how important energy sufficiency is for economies. The way I see it, I can be great in handling energy trading. But how do I equip myself to get such a job?

Hi, my name is Rohit! I have always been interested in the retail sector. Having graduated with a BBA, I’m keen on making a career in retail. MBA is a great way to launch your career, but is there an MBA specialization that caters to my needs?

The majority of MBA specialization courses are broad based. They cater to overall business functions such as marketing, finance, HR.

The specializations that we have picked out offer a different approach. They have marked out business domains in a different way and train students in skills specific to these domains.

1) Rural Management

There are numerous statistics that highlight the importance of the rural economy.

PRAQTISE Fact File:

68% of India’s population is concentrated in the rural areas.
The rural sector accounts for half of India’s GDP.
People are steadily moving away from agriculture and into other industries.

Rural management explores facets of rural business in depth. It equips students with a detailed understanding of the marketplace. Factors like spending and saving patterns, development issues, religious and cultural nuances play a big part.

There are miles to go in terms of infrastructure and commercial development. This is why rural economy presents a tremendous opportunity for aspiring managers.

Institutes offering rural management specialization:
a) Institute of Rural Management, Anand (IRMA) – Post Graduate Program in Rural Management
b) Xavier’s School of Rural Management, Bhubhaneshwar – Masters Program in Rural Management

2) Energy Management

Energy is one prime issue of universal concern. Insufficient energy infrastructure can stall economic progress. While we have always studied energy from a scientific perspective, it is equally important to look at it from a managerial perspective.

Energy management courses cover

The structure and functioning of the power sector
Global power economics
Functional aspects such as contracts, pricing agreements, financial management, supply chain
Alternative energy sources

India is power starved and the Government is keen on becoming self-reliant. Energy management as a field is sure to offer great career prospects.

Institutes offering energy management specialization:

University of Petroleum and Energy Studies (UPES) – MBA Energy Trading
Management Development Institute (MDI), Gurgaon – Post Graduate Program in Energy Management

3) International Business

Globalization is perhaps the most overused jargon in business theory. But what does it mean to have a multinational presence? What are the demographic factors that need to be considered? What is the framework of international trade, and the regulations that govern the business?

An MBA in International Business will equip students with the required expertise on the above mentioned fronts. Pursuing an international business major can be a very exciting journey. Some courses are structured to take place in more than one country.

International business will always be a key domain and a great career prospect for aspiring managers.

Institutes offering international business management specialization:

International Institute of Foreign Trade (IIFT) – MBA in International Business
Management Development Institute (MDI), Gurgaon – Post Graduate in International Management

4) Media & Communication

Marketing specializations give a good overview of the end to end marketing function. All aspects beginning from market research and product development to customer relations and after sales service are dealt with.

However, treating communication as an individual aspect is important. Communication can be specific to an ad/PR campaign, or the overall image of the brand. It becomes critical in crisis situations where the brand needs to answer tough questions about its practices, mishaps or even underperformance. Perception goes a long way in determining whether the company is considered to be good or evil.

Organizations will always require people who can be the voice of the company. Pursuing this MBA specialization is recommended especially for those who wish to put their communication skills to use.

Institutes offering media and communication management specialization:

Mudra Institute of Communication, Ahmedabad (MICA) – Post Graduate Diploma in Communications
Symbiosis Institute of Media and Communication (SIMC), Pune – MBA in Communication Management

5) Retail Management

We have witnessed the boom in India’s retail sector unfold over the past decade. Future Group, Reliance Group and Tata Group all have nationwide retail chains.

Retail management makes the store as the central point of reference. A lot of attention is paid to store layout, design and buyer psychology. On the other hand, there are aspects such as category management, negotiation with manufacturers and inventory management.

From the perspective of the retail brand, macro level planning for locations and the overall appeal of the brand have to be done.

Institutes offering retail management specialization:

KJ Somaiya Institute of Management Studies and Research (SIMSR), Mumbai – Post Graduate Diploma in Management-Retail Management
WE School, Welingkar Institute of Management Development and Research – Post Graduate Diploma in Management-Retails Management

A Praqtical Look: Here is how some of the above mentioned MBA specialization programs compare in fee and placement numbers

Course	Institute	Fee	Placement 2016
Post Graduate Program in Rural Management	IRMA	INR 4,17,700	Average CTC INR 8,50,000
MBA Energy Trading	UPES	INR 9,50,000 approx. (as of 2016-18)	Highest package in 2016 – INR 13 LPA
MBA (International Business)	IIFT	INR 16,00,000	Average CTC 18.01 LPA
Post Graduate Diploma in Management – Communications	MICA	INR 13,50,000	Average CTC INR 9,30,000 LPA
PGDM – Retail Management	KJSOM	Rs. 4,40,000	INR 8,25,000 (average domestic CTC)

*Numbers are indicative, please refer to the course brochures/placement reports on institute websites for details.

Are you interested in a building a career in a particular domain? Which other lesser known MBA specialization streams are worth paying attention to? Tell us in the comments.

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Image sources:

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Work experience – does it help in MBA?

Praqtise — Fri, 02 Sep 2016 11:42:10 +0000

Mr. Anderson is a team leader at Matrix IT Services with a work experience of 3 years in the company. Despite rising through the ranks and building a decent work profile, Mr. Anderson is not quite satisfied. He is really keen on being a ‘Neo Analyst’, a highly coveted job category.

Pursuing an MBA degree would boost his chances but he is unsure if the gamble is worth it. He decides to consult his friend, Mr. Smith, who happens to be a career counsellor.

‘What do you think Smith? Should I go back to education? Would that be wise?’ enquired Mr. Anderson

‘Well, you do want to be Neo…and an MBA degree can definitely be helpful in that.’, replied Mr. Smith

‘Can you tell me what are the risks and rewards? Will I have an edge in MBA entrance exams? Will the MBA jobs be able to fulfil my expectations of becoming a Neo analyst?’ asked Mr. Anderson. This led to a lengthy discussion regarding the pros and cons of having work experience while pursuing MBA.

Let’s analyse if work experience does really lend an advantage in the pursuit of MBA.

First things first- why MBA?

Although the question might seem redundant, it is essential to understand the perspective of those already having jobs. Quitting a job and pursuing MBA would have the following cost implications:

The existing flow of income would stop. Most flagship MBA courses in India are 2 years long. This would mean a gap of 2 years between the last and next pay cheques.
A significant investment in course fees and living expenses. Many MBA students apply for educational loans, thereby creating financial obligations for the future.

Work experience summary of IIM Bangalore PGP 2016-2018 class

Looking at these two cost implications, what are the triggers that lead a person to opt for an MBA?

1) Vertical growth in the same company/industry- An MBA degree can expedite your growth in a corporate setup.

PRAQTISE Factfile- MBAs from reputed institutes are generally get into above entry level roles. If not, they are promoted to such roles in a span of 2-3 years. A non-MBA newcomer to the company might have to work for 5-6 (or more) years to achieve this.

2) Switching sectors/industries- The first job is a choice made out of necessity for many. However, getting into an industry does define your place in the broader economy, irrespective of whether you truly wanted to build a career in that sector/domain. Through the MBA course, one gets access to a wide number of employment opportunities across industry verticals and business domains.

PRAQTISE Factfile- IT behemoths such as Infosys, TCS, CTS recruit engineering graduates en masse every year. After working for 2-3 years, many of these employees decide to pursue MBA. Their main aim is landing jobs in consultancy firms, FMCG, BFSI and other domains.

Sector wise split up of final placements in MDI Gurgaon in 2016

As we all know, almost 50% of students of institutes like MDI Gurgaon come from the IT sector. However, the final placement statistics above show that only 9% of the given batch got into the IT domain.

3) The almighty glass door- Despite performing exceptionally, one might not achieve vertical growth if he/she is not an MBA. In such cases, MBA is again more of a necessity than a choice.

What is the significance of the work experience in the MBA process?

MBA entrance exams: It is tougher to prepare for MBA entrance exams in parallel with your job . Work means a break from academics coupled with a restricted amount of time for preparations. Consequently, those having jobs have to exhibit greater tenacity and focus to gear themselves for entrance tests.
Selection into top colleges: This is one aspect where having work experience generally favours the applicant. IIM Bangalore, for example, has a 5 % weightage for experience. Therefore, a person with experience can get through with a score lower than a fresher’s.
The actual MBA coursework and campus life: Work experience obviously endows one with specialized domain knowledge. This practical perspective is useful in both theory-based coursework as well as projects based on market scenarios. Further, campus life provides a tremendous opportunity for personal growth. Those who have gone through the churn of corporate life appreciate this aspect better.
The MBA jobs: Companies treat 0-18 months of work experience as a single category. Companies offer similar job profiles to these students. It is relevant to discuss the concept of ‘lateral placements’ here.

PRAQTISE Factfile- Students with more than 18 months of work experience qualify for lateral placements. In some colleges the required duration is 22 months. Here, recruiters generally hire students for mid level roles. For instance, a bank might hire freshers as team leaders but offer project manager roles to laterals. Many of the top b-schools define laterals as a separate job category.

A PRAQTICAL Look: Simplicity in the placement process decreases with the increase in the extent of job experience. . Companies cannot simply ignore a previous experience in excess of 20 months. They are particularly sceptical about such a student’s capability to unlearn and relearn. From the student’s perspective, there would be justifiable expectations in terms of work profile, designation and salary. A much smaller number of companies would be able to fulfil student expectations across all criteria.

Conclusion

So, is it advantageous to have work experience prior to commencing on the MBA journey? The question is straightforward but the answer is not. Duration, job role, industry/sector of work all contribute to the experience becoming an asset or a liability.

How would you want to start your MBA journey- as a fresher or with some work experience? Which would be better in your opinion?

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Image Sources:

http://www.iimb.ernet.in/pgp-batch-profile
http://www.mdi.ac.in/Final%20Placement%20Report%20Batch%20of%202014%20-%2016.pdf
Featured image: http://empoweringfutures.org/2016/06/15/5-benefits-getting-work-experience/

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