Earning money is not enough. Pass outs from IITs and IIMs want to be their own bosses, contribute to the Indian economy with unique ideas and create platforms and opportunities for the lesser-privileged, says Divya Kaushik
In 2006 when Ranjan Kant declined an offer from JP Morgan to work with The Boston Consulting Group India, that was one of the rare cases from IIM Ahmedabad. His peers and folks could not apprehend why someone would say a no to hefty foreign package and opt for the company in India. But Kant was very particular that he wanted to stay in India and contribute to the development of a domestic company. At present, there are many like Kant who are not lured by the packages that the global companies offer.
There has been a change in the perception of students who now want to stay in India to make most of the booming economy and at the same time contribute significantly with new-age ideas and techniques to create more opportunities. “As every sector in India is growing, there are more chances to be someone unique and known here. And that is what matters to students today. Their aim is not just to study from institutes like IITs and IIMs to get into a fancy job but to make use of that education to do something productive and there is no better place than India to do this at present. With the growth of different sectors, we have plethora of opportunities.
To give an example, the e-commerce sector in India is growing at such a fast pace that it is estimated that next year over 20,000 to 30,000 people will be hired by the major companies in the sector at handsome packages. So anyone who is coming out of IIM or IIT today would definitely want to be here and grow exponentially in one year rather than going for a foreign company and working at a certain salary for many years. The growth pattern in many foreign companies is very structured, which is not the case in India,” says Kant.
Shift in mindsets
In July this year, two IIT Kharagpur students refused jobs from international companies to open a tiffin centre of their own to cater to the students taking IIT coaching classes in Kota. Prateek Sharma, a final year Civil Engineering student from IIT Delhi, is also not too keen in participating in the placement drill. He has plans to expand his already existing start-up that provides mentorship to the students appearing for IIT JEE exams. It is clear that students no more run after the job. There are many who want to be their own bosses and do not want to work in a nine to five schedule. That is one of the reasons why most start-ups today function from 11 to 11. “There has been a major shift in the mindsets. Students are open to take risks. There is more consciousness about the job profile. And as India is growing and income levels are rising, the pressure on students to support their families is far lesser, so more than a job, they are concerned about doing things of their interest, in their own way,” says Kant. Another alumnus of IIM lucknow says that the sense of achieving something on their own is much higher now than it was a few years ago. “Security is something students feel can be achieved on their own and they no more rely for it on others. Moreover, they understand that India has a huge resource base to draw from,” says Ravinder Bahl and adds that IIM students today are more capable of making a mature and informed choice as most of them take admission in a management course after gaining a work experience and after building a strong foundation.
Social contribution
In the past two years, most successful start-ups are those that have understood the needs and issues of present-day India, its people and various industrial sectors. For example, there have been start-ups to help students preparing for exams, there are online travel services linking customers and travel agents and so on. Anand Kumar, founder of Super 30, the organisation that hunts for talent from among the economically backward section of society and shapes them for IIT, shares an example. “One of our students, Santosh is an IIT Kharagpur pass out who has now joined hands with other IITians for a start-up. If you will talk to people who settled abroad with a fancy job years ago, they will tell you that they repent leaving their country and not contributing to its growth. Today students realise that there is a lot of scope in the villages of India and there are so many issues to address that even foreigners are coming to India. They know that if they come up with a smart idea that will contribute to the society, their venture will bring them money and fame easily,” says Kumar.
Profile matters
Students rate job satisfaction over most things. “We generally take into consideration the job description and also try to understand the scope the job offers. It is pointless to go for a job that does not interest you. Also many students look for jobs which give them the liberty to pursue further education,” says Devesh Mohnot, a final year student of IIT Delhi. Professional fulfillment matters most to students.