Project How Iim Students Improve Their Career

Two IIM-A grads shun Rs 1-cr absenter AHMEDABAD Declining pre- spot offers is nothing new for students of Indian Institute of Management-Ahmedabad, yet declining the highest offers ever made in the wreak has increase more than than a few eyebrows. Two of the six second- social class post-graduate programme students of IIM-Ahmedabad who were offered the position of associates by Deutsche Bank, declined it despite their salaries, in rupee terms, was more than Rs 1 crore. Debashish Chakravarty, integrity of the two students who refused the offer said, I declined the offer because I wanted to be on my own. The challenge of enterprisership was more exciting for him than taking up a delicate job. Three other classmates and I brook planned to start our own business. We plan to start production and retailing of womens lingerie, said Chakravarty, who was serving in the military before taking voluntary retirement. Vineeta Singh, who too rejected the Deutsche Bank offer will be joinin g Chakravarty, along with Bhushan Dabir and Vishal Prabhu Khan-olkar. We did a detailed market question on womens lingerie and found huge customer dissatisfaction. We have a business plan ready, said Chakravarty. The financing of the project is creation negotiated with game capitalists and if e very(prenominal)thing goes as per plan we hope to be in the market with our product by next year, Chakravarty said. Source http// seasonsofindia. indiatimes. com/articleshow/968988. cms IIM-A alumni run online CAT coaching Though the countrys six Indian Institutes of Managements Admission Group have decided to make their Common Admission Test (CAT) online from next year, four alumni of IIM Ahmedabad have managed to beat their alma mater in the Net game. Four students of the Post-Graduate Diploma in Business Management, who opted ut of the placement process in 2007, already have a Website that imparts online coaching for CAT. The foursome, Vineeta Singh, Bhusan Davir, Vishal Prabhukhanolkar and Debashish Chakravarty, were in the news in 2007 for spurning high-paying job offers, to start a venture to manufacture a new range of lingerie. Though this new venture did not light upon off, they started a Website,www. tenaday. co. in, which provides online coaching for CAT. The venture currently has ab knocked out(p) 29,000 registered users, Prabhukhanolkar told the Hindustan Times on Tuesday. Presently, the venture is the only online CAT coaching portal in the country.Asked about what made them start an online CAT coaching site, Prabhukhanolkar said that the logistics of the admission examination was becoming a nightm be, due to the growing number of aspirants every year. It was in brief becoming imperative for the exam to go online some day, he added. The online examination would be much easier to mange than the current system, Prabhukhanolkar said. An IIM-A source confirmed that the online examination would cut lot administrative costs, involving people travelling to p laces, and sending papers all over the country, with risks of leaks.The conventional examination can be conducted from a limited number centers temporary hookup the online tests can be taken from anywhere. Source http//www. hindustantimes. com/IIM-A-alumni-run-online-CAT-coaching/Article1-295258. aspx Past students return to IIM-A to recruit The Indian Institutes of Management are globally renowned as transformers of bright juvenility students into enterp move adults capable of promoting, running and leading their businesses to success at world level. There have been several examples of IIM Alumni who have succeeded in India and abroad.Graduating students from IIMs often find themselves being offered multiple job postings at top-dollar salaries. man most students opt for such high-profile placements there are few who go ahead and promote their own enterprises. present are four young alumni from the highly ratedIndian Institute of Management-Ahmedabad(IIM-A) who passed out in 200 7 and promoted their own dotcom company who arereturning to the campus, this time to recruit. When they rejected their placement offerings of Rs. 80 lakh integrity crore salary packages people were surprised, but the team was confident of breaking out into the market and making it big.And now the proof of the pudding is in the fact that they are back in the campus recruiting. They want highly talented, enthusiastic and hardworking business savvy IIM-A grads to take their company to new heights. The intravenous feeding includeVishal Prabhukhanolkar,Bhusan Davir,Vineeta SinghandDebashish Chakravartywho grouped together to promote ten-a-day, an online website which offers coaching for the CAT examination, the gateway to the IIMs and several other B-Schools in India. The venture operational online www. tenaday. co. in, has attracted over 22,000 fully registered users in just a year since promotion.According to the promoters the ventue needs more heads to make it big and none but IIM alumni will do. In less than a year thewebsitehas live the largest online CAT training and education preparation platform. Themodus operandiof the website is simple, registered students are required to answer just 10 questions every day and generates a daily percentile rankings of the student. This is one way to monitor the students progress on a daily basis. This will enable students to know where they are lacking and work on the areas in which they are weak. The explanations and ten questions a day are free.But the detailed analyses of the answers and rankings and advising students on the areas they need to work to succeed in CAT are charged. Fees range from Rs. 210 onwards and is very affordable compared to other institutes across the country whose courses are priced anywhere between Rs. 5,000-14,000 for similar services. The annual CAT entrance test is written by approximately two lakh students every year. This number is poised to grow to six lakh in the next three years and sounds fantastic business opportunity for those who offer quality and effective training to students desirous of getting the coveted IIM seats.TagsCAT,entrance test,IIM,website,coaching,online education,Business Source http//www. hellocompany. org/entry/past-students-return-to-iim-a-to-recruit/ Its raining money at the IIMs Gaurav Dagaonkar passed out of IIM last year and instead of dancing to his employers tune he decided to sing his own song. He opted out of placements to become a full time singer. A year later, hes giving the same advice to his juniors. Dagaonkar says, It is essential for a person to start off as early as possible, So, that within two years you start networking with the right kind of people you have people in place and you become confident. But everyone doesnt seem to agree. Ram Ganesh Aiyer passed out of IIM-A in 2004 but instead of starting off on his own, he worked for a consultancy firm for two years before starting off on his own and he recommends the sa me for his juniors. He explains, It is good idea for students to have corporate exposure before starting on their own. Some reasons being, it helps to get more experience in the real world as against case studies that we do in these schools. JOB ACCEPTANCE IN IIM-A Finance 44% Consulting 30% Marketing 8% trading operations 5% IT 4% Strategy 3%Others 6% A recent trend suggests that the number of IIM graduates daring to start their own ventures is on a rise. While eight students opted out of placements from IIM-A last year, its still early in the process. Sources say more than two dozen students presented theirbusiness ideasto venture capitalists last month. With an entrepreurial fair, that was organized on campus for the starting signal time, IIM-A is also encouraging students by allowing their former students (who have passed out over two years ago only) to participate in their placements. The trend is catching up in other IIMs as well.So, doesmoneymake the world go round? Well, IIM graduates this year proved otherwise. In an unprecedented trend, IIM students are turning downwards offers worth crores of rupees. To talk about the IIM placement quirks, heres what Debashish Chakravarty from IIM-Ahmedabad has to say. Debashish turned down a jaw-dropping one crore offer and plans to start a lingerie business. Also, discussing this issue of why IIM graduates are not tempted by hefty offers are IIM-Bangalore Professor Saurav Mukherjee and Partner at an human resources firm, Redilion, Vikram Bhardwaj. Excerpts from an interview given to CNBC-TV18Q What was your motivation to opt out of placements and become an entrepreneur? Chakravarty I have neither been an entrepreneur nor worked in the corporate world. I was a major in the Indian army before joining this institute and coming here and learning a lot about management. I thought the most challenging future I could ever have was entrepreneurship ie. structure something of my own and getting a job wasnt such an exciting idea but building a company, hiring people, doing something fruitful, I thought this was much more challenging and interesting, that is why I opted out of placements.Q Are we seeing a similar trend in Bangalore? Mukherji Last year, we had one student who decided to take the plunge but this year none of students as far as I know have walked out of placement, to have a start up of their own. So, I havent seen it as a trend in IIM-Bangalore and if anyone asks for my advice on choice whether to start up their own company versus going through with(predicate) the placement process, and especially if the student is a fresher or relatively low in experience then I would advice them to go and join an fabrication first, build up their network and gain experience and then be an entrepreneur.Q You have been helping people to get into the corporate world, is it a pipe vision to become an entrepreneur immediately, or would you advice taking up a job? Bhardwaj The aspirants from MBA institutes are realizing that despite high salaries, they are the first ones to be laid off if the environment changes in high volatile businesses like i-banking, and so they dont mind setting this aside as a trade-off, against working independently.Q IIM -Ahmedabad has promised this year that entrepreneurs like you, who for some reason, if your business doesnt take off as expected in two years time, then you can once again opt for the placement process and join your juniors? Chakravarty Yes, it is a good offer that the institute has come up with and it does offer reassurance to a candidate, who is still on edge, decision making on entrepreneurship and taking up a job. Right now, in our batch, we have 11 students including freshers who are going into entrepreneurship and that is nearly 5% of the batch, and it is a strong rising trend. NEW RECRUITERS AT IIM-CING Optiver CIC International Bain & Co Value Partner(IIM-C Highest international salary offered in 2006 $1,52,000) Q How hard is it for people to get the cream of the talent from these campuses? Bhardwaj It is getting harder by the day and Indian companies cannot even match the deep pockets, which global firms have and increasingly these MBA hirings are driven at a global level. So, they dont mind paying a slight premium over what aWharton MBAwould get to an IIM graduate. Its not only the paypackets grabbed by IIM graduates thats increasing but also their entrepreneurial spirit.The placement process is not yet over but experts say that the number of students who opted out of placements to start off on their own, will definitely be the highest this year than ever before. FLOCKING TO IIM-B 90 firms participated Consultancies comprise 32% Non-bank finance firms comprise 32% Marketing firmscomprise 14% Overseas offers made 60 solarise Group offers Deepak Goyal VP position Arcelor Mittal offers 2 GM posts in Trinidad Source http//www. moneycontrol. com/news/business/its-raining-money-atiims_271556. htm