Have Corporate Expectations from MBAs Changed? India’s leading CXOs & CHROs from UBER, KPMG, PWC, AXIS Bank, TATAs, ITC to discuss New MBA Roles & Competencies
It’s a well-known fact MBA Placements 2024 season was unprecedented with a significant drop in Salaries and many unplaced students. Out of the Top 25 B-schools, as many as 20 registered a fall in average salary in placement 2024, compared to 2023. Academic leaders across B-schools are left wondering - what could be the reasons?
While “global slowdown” is an oft quoted reason, is there a more fundamental reason? Is it that the very nature of business has changed, and so have the corporate expectations from the MBA graduates? And the B-schools are yet to catch up…
To discuss this burning issue, India’s leading CXOs and CHROs will convene at 14th INDIAN MANAGEMENT CONCLAVE (IMC) 2024 and engage in a candid conversation with 200+ academic leaders, who will gather from all parts of India.
In this special article, MBAUniverse.com gives you a glimpse of the IMC 2024 Theme Paper that explores this issue. The article also presents the highlights of Key Sessions, and their Speakers, that are planned to address this burning issue.
The Wake-Up Call! MBA Salaries Decline
As is known, MBA Placement 2024 season was unlike any other in the last decade. Analysis of B-school Placement Reports 2024 reveals that MBA salaries have fallen in most of the B-schools. Refer table below. Further, the percentage of MBA graduates who were left unemployed on the date of completion of their MBA program was at a record high. Many top B-schools had to reach out to their Alumni, and also hire external placement agencies for support.
Table: MBA Salaries Decline, even in Top B-schools
|
B-school
|
Average Salary 2023 (Rs. in Lakhs)
|
Average Salary 2024 (Rs. in Lakhs)
|
Increase/ Decrease (%)
|
|
IIM Bangalore
|
35.31
|
35.92
|
+1.7%
|
|
IIM Calcutta
|
35.07
|
35.07
|
0%
|
|
IIM Ahmedabad
|
34.45
|
Audited report to be released in Oct 2024
| |
|
XLRI Jamshedpur
|
32.70
|
29.89
|
-9% Drop
|
|
SPJIMR Mumbai
|
33.02
|
33.00
|
0%
|
|
MDI Gurgaon
|
27.67
|
25.50
|
-8% Drop
|
|
IIM Lucknow
|
32.20
|
30.00
|
-7% Drop
|
|
IIM Kozhikode
|
31.02
|
28.05
|
-10% Drop
|
|
IIM Indore
|
30.21
|
25.68
|
-15% Drop
|
|
SJMSoM IIT Bombay
|
28.88
|
28.01
|
-3% Drop
|
Source: MBAUniverse.com Analysis of B-school Placement Reports 2024
Top Sectors Recruiting MBAs have Changed
A big insight from the IMC 2024 Theme Paper is that the nature of top MBA recruiters has changed significantly in the last decade. According to the paper, only three sectors hire more than 75% of all MBA graduates from Top 50 Indian B-schools! The theme paper presents detailed break up of these sectors.
According to the theme paper, the three sectors that together hire more than three fourth of top Indian MBAs are:
• Global Capability Centers (GCC) & IT Services Sector
• Consulting Firms, including management consulting, financial consulting and business process consulting firms
• Banking & Financial Services Sector
This finding has an important implication for MBA education notes the Theme Paper.
Recruiters seek MBAs for Specific Roles
A key trend highlighted by the Theme Paper is that while a decade back, most corporates hired MBAs primarily as ‘Management Trainees’ or Trainees in different business functions, the MBA recruitment trend has changed today.
IMC 2024 Theme Paper notes that, “As the rules of business value creation in today’s age of disruption change, MBA hiring approach has also changed. Today, large MBA recruiters, particularly from the IT, Consulting and Banking & Financial Services, expect to hire MBA graduates directly for specific job roles. These job roles have defined responsibilities and expectations that measure how an employee contributes to corporate objectives.”
The Theme Paper highlights primary placement data collected from large B-schools in India that corroborates this point. The data, published in the theme paper, reveals that majority of MBA jobs, offered by large recruiters in IT, Consulting and BFSI sectors at these B-schools, were for well-defined specific roles. Data also reveals that generic roles such as ‘Management Trainee’ were a minority of the total jobs. An important trend observed is that more specific Job roles attracted higher pay packages and richer job descriptions.
The Theme Paper will be released at IMC 2024 Inaugural Session on September 20 at XLRI Jamshedpur. The paper is co-authored by Dr SR Singhvi (Former Senior Faculty, IIM Indore & MDI Gurgaon) and Mr Amit Agnihotri (Founder & Convenor, IMC).
Call for Identifying Contemporary MBA Roles & Competencies
The paper notes that in light of these trends, a careful analysis of following questions is necessary for reshaping the MBA program:
• What are the expectations of key recruiters from MBA graduates?
• Are they hiring MBAs for Specific Roles? If yes, which Roles?
• What are the required Competencies and Skills for these Roles?
To deliberate on above questions, the theme for fourteenth edition of Indian Management Conclave (IMC) 2024 is ‘Identifying Contemporary Roles & Competencies for Reshaping MBA Program’.
CXOs & CHROs to Reveal Corporate Expectations
At IMC 2024, CXOs and CHROs from the top recruiting sectors will discuss the above issues and share their expectations from MBA graduates, and B-schools. Key speakers are highlighted below.
Mr Manish Sabharwal, Vice-Chairman, TeamLease Services will share his views as key note speaker at IMC 2024 Inaugural session on September 20, 2024. Widely respected as India’s leading thinkers on critical issues like Education, Employability and Job Creation, Mr Sabharwal is a Governing Board Member of National Council of Applied Economic Research (NCAER), Member of National Skill Mission and Central Advisory Board of Education.
Mr Prabhjeet Singh, President, UBER India & South Asia will deliver a powerful keynote address on conclave theme. Mr Singh leads the Mobility business in three countries: India, Bangladesh and Sri Lanka. He joined Uber in 2015 from McKinsey where he was an Associate Partner. He has been instrumental in helping build Uber from the ground up and established Uber’s category leadership in the dynamic ride-sharing market in the South Asian region.
Mr Hemant Malik, Executive Director, ITC will share his views on the theme in the Inaugural Session on September 20. He is a Whole time Director on the Board of ITC. He is also the Divisional Chief Executive of the Foods Business Division of the Company. Prior to becoming the Divisional Chief Executive of the Foods Business Division in October 2016, Malik was the Chief Executive of the Trade Marketing & Distribution ('TM&D') Vertical from April 2016. He has extensive experience in launching new products and building new businesses.
CHROs from Tata Technologies, Tech Mahindra to discuss IT Industry Expectations
According to the IMC Theme Paper, GCCs and IT Services sector is biggest MBA recruiting sector in India today. CHROs From Leading IT Companies including Mr Pawan Bhageria, President - Global HR & Education, Tata Technologies and Mr Richard Lobo, Chief People Officer, Tech Mahindra will discuss IT Industry expectations from MBA Graduates. Mr Richard Lobo is a global management professional and has over two decades of diverse experience leading the transformation of the people function across organizations. Prior to joining Tech Mahindra, he was the Executive Vice President and HR Head for Infosys Ltd. Mr Pawan Bhageria is responsible for the delivery leadership, sales, client leadership for services and education and global human resources leadership at Tata Technologies.
Consulting Sector CXOs to share MBA Roles & Competencies
Consulting sector, including Management, Financial and Business Process Consulting firms, are also one of the most prominent MBA recruiters. What are their expectations from MBA graduates? Are they hiring MBAs for Specific Roles? If yes, which are these Roles? What are the Required Competencies and Skills they expect from fresh MBAs? To share their views following speakers from this sector Mr Giridhar S, is Management Consulting Co-Leader (USI) @ RSM US LLP and Former Director, PwC and Mr Ashish Maheshwari, Director – Education, KPMG will participate in a dedicated session.
Mr Giridhar S has more than 18 years of comprehensive consulting experience. He is a dynamic leader and has spearheaded PwC's Customer Transformation and Financial Services Practice at the Bangalore Acceleration Center. Earlier he served as Senior Advisory Consultant at IBM from 2009 to 2014. Mr Ashish Maheshwari from KPMG brings in around 15 years of industry experience with more than a decade of management consulting experience of advising clients in the Education and Skill Development domain in both public and private sector.
CHROs from Banking Sector to address Transforming Business Paradigms, and MBA Roles & Competencies
Banking and financial sector is one of the most prominent MBA recruiters. During placements 2024 season, they hired about 25% of all MBA graduates from the Top 50 Indian B-schools. Ms Rajkamal Vempati, Head Human Resources, Axis Bank and Fintech leader Ms Sucheta Mahapatra, Managing Director, Branch International India will share their perspectives. Ms Rajkamal Vempati, Head Human Resources, Axis Bank has a career spanning more than 22 years. Prior to Axis Bank she was heading Human Resources for ICICI Lombard General Insurance Company Limited. Ms Sucheta Mahapatra, Managing Director, Branch International India is the Managing Director for India of Branch International, a FinTech backed by a16z and Visa. Prior to her role at Branch International, she was the Head - India Business Operations for WeWork in India. Earlier, she was the VP and Head - IoT, Enterprise Mobility and Smart Cities at Airtel. Ms Sucheta Mahapatra was also part of the leadership team at Bain & Co, where she worked for about 8 years in New Delhi, Boston, and Singapore. She is currently a Member of the Board of Governors at IIM Sambalpur.
TATA Steet CHRO to discuss MBA Roles in Core Sectors
Led by global geo-political developments and policy reforms at home, Indian Manufacturing sector is growing into a global hub with international organizations like Apple, Semiconductor manufactures and many others setting up their manufacturing facilities. Ms Atrayee S Sanyal, Vice President HRM, Tata Steel will discuss MBA Roles offered by the core sectors.
Ms Atrayee S Sanyal, is the Vice President HRM, Tata Steel. Joining Tatas from Hindustan Unilever, she joined Tata Steel, Kolkata in the Marketing function in 1998. Ms Sanyal joined the Human Resource Division in 2017 and has handled multiple areas in this function. In addition, she is part of the Profit Centre Councils of two Divisions in Tata Steel and is also a Member of the Board of Directors of two subsidiary companies of Tata Steel.
Organized by MBAUniverse.com in partnership with India’s top B-schools and knowledge Organizations, INDIAN MANAGEMENT CONCLAVE (IMC) is India's definitive annual Management Education Conference & Awards Platform. IMC is hosted by India’s leading Institutions who contribute as Knowledge Partners. Past Partners & Hosts include: ISB Hyderabad (2015), IIM Ahmedabad (2016), IIM Lucknow (2017), IIM Bangalore (2018), MDI Gurgaon (2021), IIM Kozhikode (2022) and SPJIMR Mumbai (2023).
Policy Makers, CEOs from marquee companies, Who’s Who from Indian management education, and 200 delegates from almost all Top 100 B-schools are all set to congregate at XLRI Jamshedpur on September 20-21, 2024.
Read More:
- https://www.mbauniverse.com/articles/aicte-chairman-prof-tg-sitharam-indian-management-conclave-imc-2024
- https://www.mbauniverse.com/articles/imc-research-conference-to-witness-50-selected-paper-presentations-advancing-management-education
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Stay tuned to MBAUniverse.com for more updates on IMC 2024