The Hindu Business Line : Thinking beyond salaries & overseas allure

Bangalore March 12 The big bucks are there. But they really did not hog the headlines this time. Placements at the Indian Institute of Management, Bangalore, had its usual highs of overseas offers (60) and highest number of Slot Zero companies (96), but there were a couple of trends that could be an indication of where young Indian managers are heading.

For instance, five out of 20 overseas offers by leading foreign investment banks were rejected in favour of domestic jobs in private equity firms. A couple of others accepted jobs that involve interaction with the Government and policymakers. Mr Ajit Phadnis, an IIT graduate and now graduating from IIM-B has opted to work for PwC Grey in a role that would involve social sector reforms, with a focus on education. He admitted to have taken a `significant cut in his salary,' but that `didn't matter at all,' he quipped.

Ms Manasi Prasad who rejected an overseas job offer by Goldman Sachs in favour of a Bangalore-based job with Standard Chartered Bank to continue with her music education said, "it was no sacrifice. My employers understand that I need to pursue my passion (for music) outside of work and anyway things are happening in India." The batch also has Mr Mahadev Chitale, a chartered accountant, who will work with Spandan, an NGO.

At a press conference here, Prof Mr Sourav Mukherji, Chairperson - Placement, said that students of the batch have made `informed decisions' and have not yielded to the usual pressures of salary packages and overseas locations.

Out of the batch of 233 students, consulting and finance got 32 per cent of the students each, marketing notched up 14 per cent of the talent and investment banks nine per cent. The recruiter list also has the usual names: Lehman Brothers, Merrill Lynch, McKinsey, Boston Consulting Group. Barclays Capital, Deutsche Bank and AT Kearney.

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