Top B-Schools and IIMs expect fewer recruiters, fewer jobs and lower salaries this time

Lessons in real life are often better than what's taught in the classrooms, even if they happen to be at the country's best Bschools. For students graduating in 2012, the real-time learning of managing their careers through economic volatility is the only consolation in what threatens to be a gloomy placement season across the Indian Institutes of Management (IIMs) and at the Indian School of Business.

At least four IIM directors, two student heads of placement cells, recruitment managers, head-hunters and students told ETthey expect fewer recruiters, fewer jobs and lower salaries when the placement season kicks off next month.

They are bracing for the worst, and gently lowering expectations to cushion the impact on hundreds of students aspiring for dream jobs. Placing 350-odd students sitting for the final placements would be a challenge, admits Professor Amit Dhiman, IIM-Calcutta's placements chairperson.

"I want to understand how far the slowdown will impact us this year," says 24-yearold Vishal Sharma, a final-year student at IIM-Ahmedabad, flipping through a business magazine for articles on the slowdown. Batchmate R Sridhar is in touch with the alumni to gauge hiring sentiments across companies. The class of 2012 has seen global economic volatility at its worst. They sat for their entrance exams in late 2009, when the world economy was still reeling under the impact of the previous year's financial crisis.

They walked into the campus for the first day at school in June 2010, when the early hints of recovery were quite evident, at least in India. Those hopes have been belied as they prepare to pass out in a few months. "When we entered IIM-A in 2010, it was a good recovery year (after 2008 meltdown). But now when we are ready to enter the corporate world, there are fears of a double-dip recession," says Sridhar.

"The number of Day Zero finance jobs, including those from investment banks, are likely to go down," says Prof Dhiman. "But not every sector is doing badly. Consulting companies have multiple job offers, as do IT, technology product companies." Adds Debashis Chatterjee, director, IIMKozhikode: "The number of companies visiting and offers being made will be conservative."

FMCG and durables companies haven't dropped out. They are coming to the campus, but they will recruit fewer students. "Some have said they are coming just to maintain their relationship on campus. They will recruit only 1 or 2 people," says Dhiman. Some FMCG companies had hired 10-15 each last year. Pre-placement offers at IIM-C are down to 75 compared with 90-plus during the same time last year. Some Day 3, Day 4 companies have also dropped out.

"In 2009, we were banking on domestic offers. But this time, besides global offers, even the domestic ones will be affected," adds Dhiman. IIM-Bangalore has been tempering the hopes of its students for some time now, not just this year. "The students are mature now and many of them come with work experience; they understand they may not get their dream job.

Not everything is rosy," says Sapna Agarwal, head of career development services at the institute. The placement committee and faculty are trying to point students to other sectors that are equally good. "We have increased the bouquet of desirable companies. We are trying to help students understand the goodness of other industries (which may not have necessarily been part of their first choice)," says Agarwal.

Adds Ashish Dongre, an IIM-B PGP student, "The faculty is helping students come to terms with sustained recession." The Rs 1-crore salaries, foreign postings won't happen. "Instead of only Ivy League companies, middle and smaller companies are offering challenging and equally competitive jobs. It's right to bring down expectations," says Dongre.

At IIM-B, 370 students will line up for placements this year. "Most recruiters are reserving judgement on the number of people they are planning to hire," says Ashish Srivastava, placement committee member at XLRI-Jamshedpur.

"Most will recruit less. If the market picks up later, they will hire more from the market." "Consulting is looking fine, but finance is taking a hit. We are not sure about marketing yet, but no one seems to have any major expansion plans," he adds. Earlier in November, companies were enthusiastic in picking first-year students for six-week internships, raising hopes of a strong hiring sentiment. But free interns are one thing; paid hires are another.

Campus insiders say many students have cancelled holidays from their year-end schedules. CVs are being reworked and social networks actively accessed for the latest buzz on hiring. At IIM-Ranchi, consumer-facing companies, including those in the FMCG and durables sector, have been affected and a couple of those that had originally planned to visit the campus have backed out.

"It would have been a problem if we had a larger batch, even 120 students. But since we are going into final placements with only 44 students, we are not worried," says MJ Xavier, IIM-Ranchi director. Institutes placing a large number of students will surely face problems, he says. The average salary will come down this year.

"Those at the top of the class will still get good offers, but the average bunch will probably get a little less," he says. How much less is the questions B-school grads are fretting about. (Names of some students quoted in this story have been changed at their request.)

Reporting by Tapash Talukdar, Parag Dave (Ahmedabad), Devina Sengupta (Bangalore) and Sreeradha D Basu (Kolkata).

Source: Economic Times

It's happy new year for hiring; over 5 lakh new jobs in 2012

It's happy new year for hiring; over 5 lakh new jobs in 2012

The new year may bring in loads of cheers for job-seekers, as the experts expect the companies to hire more than five lakh new employees during 2012 despite the uncertainties prevailing about the overall economic scenario. Adding to the cheers of the job market, the employees could expect double-digit salary hikes during 2012.

"If all goes well, and depending on policies of the government and market situation, more than 5 lakh jobs will be created across all segments," executive search firm GlobalHunt's director Sunil Goel said.

The Indian job market in 2011, felt the ripple effects of the global economic uncertainty, but emerged out of it rather strong, as companies adopted a "cautiously optimistic" approach and experts believe in the new year jobs will continue to be added, albeit at a slower pace.

As per Monika Tripathi, vice president (Heading the IT, ITeS, Telecom and Research practices) at recruitment process outsourcing firm Elixir Consulting, "The IT/ITeS sector alone will generate as many as around 3 lakh jobs in 2012."

Elixir expects the hiring activities to increase by 7-8% in 2012, from the levels seen in 2011.

As the companies would increase their technology investments and entities from abroad look at India-based service providers or development centres, there is a bright prospect for both domestic as well as multinational companies based in India, in the IT/ITES segment.

In the coming months job, opportunities are expected to grow exponentially in sectors like retail, healthcare and IT & ITeS, defence, hospitality and consumer durable.

"Since the interest rates have hardened to all times high, they are bound to come down giving much needed respite to banking, this should give boost to real estate and automobile and hence these sectors are likely to see some hiring," executive search firm Symbiosis Management Consultants' CEO and Founder Vinay Grover said.

Echoing similar sentiments, Richie Madan, executive director at Elixir Consulting, "there is a great demand for talent across industries in India. The Retail, BFSI, FMCG, Hotels and Hospitality sectors would pick up pace and would improve in 2012."

FMCG, Pharma are insulated from recession and will remain constant, Grover said, while adding that E-Commerce being a new kid on the block will emerge as a saviour and will compensate for rather dull scenario.

As far as compensations are concerned, there is reason to cheer, the average salary increase would increase to at least 12%, from 11% in 2011.

Source:Hindustan Times

Financial and Planning Analyst

ZJ -21

Currently there is an opening for Financial and planning Analyst for a leading KPO based in Mumbai with 2-5 yrs of experience

We are looking at local Mumbai or Pune candidates only

Qualification: MBA/PGDBM

Job Purpose:

The Planning & Analysis is part of the ASIA Finance division and provides financial and related business information to senior management to allow them to make informed business decisions and set key strategic goals.

This includes weekly and monthly management reporting, forward looking exercises including Budget & Forecasting and preparation of analysis to the support decision making.

• The role offers a platform to participate in high profile launch of a Centre of Expertise site in Mumbai
• Opportunity to join one the leading financial Institutions in the world which prides itself on people development and mobility
• The role also provides a fantastic opportunity to build a career within the Finance Division and gain a holistic and deep knowledge and understanding of various businesses
• Interaction with people at all levels from different areas of the organisation (finance, business and infrastructure)
• The role provides a diverse and varied work coverage including monthly reporting, presentations, forecasting and ad hoc analysis
• Opportunity to work in a matrix organisation working with regional and country teams

Key Responsibilities:

Preparation of Performance Review Management Decks
• Assisting in analysis and preparing of materials for regional CEOs for their monthly regional Business Review across all businesses
• Assisting in coordination and production of materials for Monthly /Quarterly
• Preparing papers for monthly review with US Fed
• Sourcing of market data and macro economic statistics from Bloomberg / other data providers to be used in monthly business reviews and ad-hoc projects
• Devising meaningful and standardised reporting across all businesses
• Working with the wider team supervisor in a number of ad-hoc projects & presentations

Support of Country Senior Management
• Supporting ASIA country level senior management with monthly financial processes as well ad-hoc projects focused on country specific strategies
• Preparation of RCB performance scorecards
• Preparation of Country review decks covering all products

Performance Measurement and Related Analytics
• Performance measurement of businesses including analysing, investigating and explaining key movements and trends in major P&L lines to senior management
• Preparation of monthly financial metrics and key business drivers specific to different products

Balance Sheet Management and related Performance Metrics
• Collection, distribution and analysis of weekly and month end wide P&L and Balance Sheet estimates exclusively for senior management
• Analysis of Net Interest Margin

Expense and Headcount Analytics
• Provide meaningful analytics for expense and headcount
• Tracking of Compensation expenses (payout ratios, associated taxes and CAP rates)
• Preparation of FX analysis
• Preparation of management information for monthly Expense Leadership (ELC) Committee meetings

Weekly Outlook Process
• Assist in preparing weekly financial outlook for products together with a geographic view
• Assist region products in preparing outlooks
• Consolidation of regional results

Budgeting and Forecast Process
• Assisting in the quarterly forecasting exercise and annual Budget & Allocation processes

Month End Reporting activities
• Assist in key month end activities which provides oversight of completeness and accuracy of underlying management information
• Tax analysis and country liaison
• Support product control and financial control with key Management reporting

To Apply Email - writetotanveer@gmail.com