B School pass outs from smaller cities prefer stable PSU jobs
But metros B-school pass outs, continue to prefer private sector
PSUs are becoming primary attraction for stable jobs for Business School pass outs from Tier II and Tier III cities as these provide for stability and cause lesser tensions as against metros B-school pass outs, who continue to have greater inclination for corporate sector assignments, where stability is slippery but growth prospects are comparatively faster and quicker, according to The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The Survey in which 600 students (400 from tier II and tier III cities and 200 from metros) feedback were elicited on Choice for Career Making between PSUs and Corporate Sector, however, warns that emerging trends suggest that students with superior intellect are getting into private sector at the cost of PSUs and also indicate that government owned companies need to get out of their regulated administrative and working systems.
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 and handsome job prospects with 100% stability factor.
Remaining 15% in the lot said that their business school background would give them an edge for preparing competitive examinations at All India level and would be more keen to join government through Union Public Service Commission (UPSC), says the Survey.
The Survey also added that majority of students of above B schools felt that in scheduled A PSUs, not only perks, perquisites and salary structure, besides medical facilities and on top of them, security factor with structured time period for career growth is available but the spirit of competition has brought in them the challenging assignments. Therefore, it would be exciting to work for institutions in which challenges, opportunities and stability factor are equally proportionate.
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 liberalisation 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 organisations 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 assocham survey released on Dec 22, 2008.
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