DR BAKUl DHOlAKIA, Director-General of IMI, New Delhi, talks to PRAKRITI ROY about what goes behind the selection of B-schools by students, the placement process for management graduates and the present state of business education in the country
What is the main criterion that students see when they choose a B-schoolIJ
The foremost thing is placement opportunities and the assurance of a good job. Second, is criterion is the quality of faculty. Third, is the infrastructure and the ambience. Fourth, is the unique features that the programme offers. The pedagogy, international linkages and corporate connectedness are also important for students. Old and established institutions are preferred because of their alumni structure. Students also see the governance structure and the top leadership.
Factors like alumni and top leadership are easily accessible to students. But what about things like governance and corporate connectednessIJ
As per AICTE norms, institutions are expected to be transparent. Apart from that, in today’s age of social media, word of mouth carries weightage. There are so many online portals which are dedicated to admissions where information is floating. Therefore, today’s students are far more aware than they were 10 years back.
Assuming students have all the information about all the B-schools, how would a potential student actually pick a schoolIJ
You go by the pecking order. There are external rating and ranking agencies which help students in this. Rankings may vary. Moreover, where you want to go is not always dependent on demand — the supply factor is also there. We have a dichotomy where there is fierce competition in the top 100 schools whereas seats remain unfilled in the bottom half of the schools. This is more of a question if you do not have a good academic background and CAT score.
To what extent does infrastructure of the school play a role in selection by studentsIJ
Infrastructure, per say, would not rank very high. It is the quality of faculty, pedagogy, industry interface, how practice-oriented knowledge you can get, international presence of the institute — play an important role.
In what ways is corporate training during the course beneficial to studentsIJ
It is immensely beneficial. More than half or two-thirds of the students at B-schools are straight out of college, with no work experience. If they want to successful managers, they need a perspective of the organisation. What is taught in class is all theoretical and industry visits are not enough. Hence, summer internships are mandatory in a two-year programme.
Are these internships also facilitated by the institutionIJ
It is the responsibility of B-schools to arrange summer internships for every student. However, B-schools only facilitate placements, not guarantee them.
To what extent can an entrepreneur be prepared within the walls of a B-school to keep up with the start-up revolutionIJ
There is a difference between western and Indian B-schools in this regard. Western schools have prior work experience as an eligibility criterion for admission. In India, most people in B-schools are straight out of college. Right now, a large percentage of those who come for management are engineers, so they have four years of graduate level education. They have technical capability, which if matched with an understanding of market, finance and operations can become a combination for entrepreneurial success.
On what basis do companies select candidates during placementsIJ
The basic filtering criteria will include the prior academic background (Board exams) and if there is any prior work experience. It is not uncommon for companies to ask for the CGPA at the B-school.
Over your vast experience, what are the changes you have perceived in the placement processIJ
The placement process is becoming more rigorous. The only exceptions are probably the IIMs Ahmedabad, Kolkata or Bangalore where the students can talk about what they want. The recruitment process has become more professional and involved. The fitment between the roles and profiles with the candidates has become better.
Is the number of jobs that exist at par with the number of students graduating from B-schoolsIJ
I would rephrase that — ‘Is there enough room at the topIJ’ Answer is yes. If you see the combined capacity of roughly 3,000 B-schools approved by the AICTE, it would be about 2.5 lakh. I can’t say if there are that many jobs available. But if you consider the top 100 institutions, they may have a combined capacity of about 30,000. Even during recession, that many jobs are available for these students.