There is lot of hue and cry about the placement scenario this year. American bear is almost hugging the entire world, and trying to crunch everything, right from money to harmony. Amidst all this turmoil, India tried to show that it is standing tall instead of the global catastrophe. But some signs are there, that India is also feeling the heat and now it is also showing the signs of sweating. But the sweat beads will not turn into streams. So there is nothing to worry about, as India is having strong fundamentals.
As one side was showing the signs of going smooth, the major fraud in Indian corporate reign came into forefront. Satyam fraud hit Indian industry real hard. Everybody was in awe, thinking where from did this erupt??? Government was in complete shock knowing that almost 700 crore rupees were involved in this fraud. SEBI took it very badly, and was thinking, “despite the strict regulations and all, how on the earth did this happen??? And that too in front of our nose!!!”. So corporate world was shaken and IT world seemed to be crippling. But luckily, or rather due to strict regulations and string business ethics, IT industry stands tall with no visible effect on their revenues. Market also took Satyam thing as “fraud” and didn’t link that with slow down. That is the main part.
This is general prologue to have general idea about the corporate scene in India. Now coming back to the topic. Amidst these things affecting market, placements of engineering and MBA grads took a very high hit. This year, placements are taking place, but no one seems to be contempt with it, neither the company nor the student recruited. While due to credit crunch and all turmoil companies are trying to cut costs and sorts and students are looking for a guaranteed job, no matter what other conditions are. But everything is in the air, nothing is strongly standing on ground. Engineering students are asked to join BPOs and there is huge slack in MBA recruitments. Now, working in BPO, though it seems not so palatable, but is worth now. There are two different stands on this issue.
1) One is, even though a company asks students to join BPO, I think its fair a deal. Instead of sitting idle and earning little penny will neither add to your resume nor will help you financially. So one should go for the BPO job, at least you are not sitting idle and earning something to feed you up. When the condition gets better, switch to a better and interested field. And when asked about your gap between graduation and this job, you can always clear their doubts by telling the fact. Recruiters like your candidness.
2) And other dimension to this is, BPO job doesn’t carry any importance and the experience is not considered valid. So students are reluctant to go for BPO job. But as cleared earlier in the above point, a point can be made to the new recruiters by telling them the truth.
The other factor talked about these days is, whether this is the right time to join corporate or not. Some even say to the students who are about to pass out in next year that, till the time you pass out conditions will soften up and there will be no tension about getting a job. But in my view, India, despite the worse job conditions world wide, providing jobs to almost everybody. India does have the capacity to recruit everybody, so getting job is not a problem. But yes, the job may not be from the field of your interest. But hey, that’s the part and parcel of life. Life takes you to ride through all good and bad times. So don’t worry about that.
In my view, this year itself will bring more joy to grads by giving them jobs. And for joining the corporate industry, I think, this is the right time. As economy is strolling slowly, companies are at the lowest level (almost) in terms of revenues and everything. So if somebody joins at this moment, his career graph will be shooting upwards only. There will be no coming down, as this is supposed to be a rock bottom. There is no question of company eating your salary, as this will be the lowest (almost), and there can not be further diminution of your salary. Plus you get a better chance than to prove yourself than the people already with the company since long. You will have better and more avenues to hone and prove your skills. So according to me, this is the right and right most time to join any company and drawing most from the chance that you will be getting. Just stick to one company and milk the benefits easily.
Prasad B. Kulkarni.