B-School pass out from Tier II, III cities opt for Bank/PSU Jobs for job security – Assocham Survey
Banks/PSUs are most sought after job providers these days for job seekers as these ensure job stability and cause lesser mental strain but PSUs and organizations alike are also offering fat salary cheques to B School pass outs in significant numbers from Tier II and Tier III cities. Whereas in metros, B-school pass outs give preference to job prospects in corporate sector in which growth prospects are comparatively quicker & faster, according to a survey conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The Survey in which 600 aspirants (400 from tier II and tier III cities and 200 from metros) feedback were elicited on Choice for Career with PSUs and Corporate Sector, however, warns that emerging trends suggest that students with superior intellect are heading towards private sector in large numbers indicating that government owned companies need to reform their regulated administrative and working systems.
Releasing its findings ASSOCHAM Secretary General, Mr. D.S. Rawat said that as many as 85% of students who gave their views on the subject in tier II cities such as Ghaziabad, Lucknow, Chandigarh, Dehradun, Jaipur, Indore, Kochi, Chennai, Hyderabad and Pune revealed that their first choice would be to join `Scheduled A’ PSUs. These comprise ONGC, NTPC, IOC, GAIL, HPCL,BPCL, SAIL, MTNL etc. and provide for better job prospects with 100% stability factor.
Remaining 15% in the lot said that their business school background would give them an edge while preparing for competitive examinations at All India level and would be more keen to join government sector through Union Public Service Commission (UPSC), says the Survey.
The survey also added that majority of students of leading B schools opined that scheduled 'A' PSUs offer perks, perquisites, proper salary structure apart from best medical facilities and a sense of job-security to top it all. Students find appearing in competitive exams exciting and full of spirit of competition and encountering challenging assignments.
In contrast of above, the Survey of Metros B students, however, disclosed that corporate sector would be their first priority as career makers can have meteoric rise as they have no patience to wait for a period of 25-30 years to achieve the positions of Managing Director or CEOs.
Nearly, 90% of B School students in metros such as Delhi, Bangalore, Kolkata, Mumbai had this to argue, adding that leading corporates not only give them a culture which is so challenging and full of excitement for monetary considerations, besides exposure part which is not available with PSUs.
The overwhelming majority of students in metros also felt that with liberalization advancing, it is childish to believe that the concept of permanent jobs will remain even in PSUs in a decade or so. Therefore, there is no point working for organizations whose Board of Directors have over 500 MPs including Ministers and couple of bureaucrats as their bosses, who collectively strangulate the autonomy of such boards.
In case of private sector, their boards and management are completely autonomous and most of the times, their decisions are neither influenced by external factors nor do they have government nominees in their boards other than the nominees of financial institutions. In PSU board’s, the government nominees can veto the decisions of majority of directors, whereas in private sector, there is no such thing.
Remaining 10% of metro B school pass outs said that their efforts to make a better career would be guided by consultation process with family members and elderly wisdom in their social circle as they thought that they have yet to attain a maturity levels to take independent decision for career making, said Mr. Rawat further commenting on survey.
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