What can be better than an MBA degree from a top business school? A professional with work experience before an MBA education, or so India Inc is beginning to believe. According to The Economic Times, executive education programmes at leading B-schools are gaining ground among recruiters.
"Recruiters, overall, are very keen to recruit from such programmes because they offer a talent pool with robust experience as well as rigorous management education. In case of large organisations, students are typically recruited at the mid-management level while smaller organisations from time to time recruit students for senior-/ CXO-level roles," Utanka Sarma, senior manager, career development services, IIM Bangalore, told the daily.
Consider IIM Calcutta's Post Graduate Programme for Executives (PGPEX), the one-year, full-time residential programme for professionals with more than five years of work experience. According to the institute's website, the average salary for its 11th batch (2017-18) stood at Rs 24.45 lakh, up 21.5% over the previous batch. The top salary bagged by a PGPEX student was Rs 89.25 lakh, an over 192% jump compared to the previous year's record.
Moreover, 78 companies participated in the campus placement process - up from 43 in the previous year - and Accenture, Amazon, PwC, Flipkart, Cognizant were among the major recruiters. Incidentally, PwC was a first-time recruiter, along with others such as Axis Bank, Indian Port Association, Rivigo and CnK Management.
Similarly, IIM Indore has seen growing interest in its EPGP programme. To begin with, average salary has reportedly jumped from Rs 18 lakh to Rs 20 lakh in the past year. The highest salary, offered by Drew Marine, a global company providing technical solutions and services to the marine industry, was Rs 65 lakh - a nearly 45% jump from the top package for the previous batch.
The number of recruiters lining up for placements at the institute is also growing. Among the new recruiters this year were KPMG, PwC, Michael Page, Oracle, Oyo Rooms and Bajaj Allianz. Meanwhile, Accenture emerged the top recruiter this year at IIM-Indore, hiring seven candidates.
"Newer and higher number of recruiters turned up for placements this year than the previous years, offering better roles and responsibilities. People got opportunities to even shift industries," professor Ashish Sadh, chairperson, EPGP, IIM Indore, told the daily. He added that the programme is slowly gaining popularity in India as the alumni network becomes stronger and industry awareness about the programme increases.
The one-year, full-time executive post-graduate programme (EPGP) at IIM-Bangalore, specifically for professionals with 5-12 years of work experience, is well sought after, too. The report added that the mean salary for the 2017-18 batch of this programme stood at Rs 23.5 lakh and Accenture, Indian Ports Association and Flipkart were among the big recruiters.
The trend is not limited to the IIMs. The placement figures for PGDM (General Management), XLRI's 15-month-long MBA programme for executives with at least five years of work experience, is proof of that. According to the daily, the institute saw average salary go up to Rs 18 lakh from last year's Rs 17 lakh, while the highest CTC of Rs 28 lakh was offered by Accenture, also the biggest recruiter this year.
The one-year programme at Great Lakes Institute of Management in Gurgaon also saw a record number of participating companies as well as higher offers per company. Furthermore, despite Class of 2018 being it's largest-ever, the school claims that the latest round of placements were significantly faster than any of the previous years.
The recruiter line-up included American Express, Aditya Birla, KPMG, EY, Cognizant, Hexaware, Virtusa Polaris, MuSigma, Latentview Analytics, Expedia, FoodPanda, among others, and Deloitte emerged the largest recruiter with 19 offers. Moreover, the average salary for the latest graduating batch stood at Rs 11.14 lakh, up from Rs 10.51 lakh for the previous batch, while the highest CTC jumped 12.5% to Rs 18 lakh.
"Campus hiring has always been a key part of our overall talent strategy. We make key hires from a number of B-schools every year. This includes students pursuing executive MBA," Vishpala Reddy, regional HR director for APAC at Uber, told the daily. "As we focus on scaling our businesses in India, like Uber Eats that we launched just a year-and-a-half ago, hiring candidates from varied professional backgrounds adds immense value to our teams here."
Edited By Sushmita Choudhury Agarwal