An Open Letter to the MBA Class of 2017-19
Dear Next Generation Managers/Leaders,
Congratulations for getting into the most coveted b-schools in the country!!
Since most of you are going to join a B-School in few weeks from now, being the team of MBA grads, we thought of sharing experiences that we have had during our journey of 2 years at our B-Schools and give you slightly better picture of what to expect during the journey called MBA which you will cherish throughout your life. So, here is our message for MBA Class of 2017-19.
What should you expect from an MBA course?
We are not going to give you the generic advice on the lines of how MBA is a great enabler and facilitator of learning OR, that the biggest advantage of MBA is that it provides people a chance to change their career domains, move to better profiles, enhance career growth and most importantly strengthen their professional network and an opportunity to leverage alumni base of respective B-Schools throughout the career.
GUYS! YOU ALREADY KNOW ALL OF THIS, AND MORE!
What you should do during MBA to maximize the gains?
- BEFRIEND EVERYONE! Your aim during 2 years should be to interact with as many people as possible and learn from their perspectives. This should especially include your seniors, your juniors as well as students from other b-schools. Try to befriend the maximum number of people during your MBA days. These people will someday be at important positions in different companies.
- NETWORK NETWORK AND NETWORK SOME MORE! Sites like LinkedIn and Facebook groups are very important in getting in touch with your college alumni as well and you should make an account on such websites as soon as possible.
- Concentrate a lot more on learning, not just grades. As long as you are in or around the top 20 % of the batch in terms of grades, you are not likely to face any problems and your job is done.
- Try and contribute in most, if not all of your group projects and assignments. From what we have witnessed, people who work hard in these projects during the curriculum get their approach to solve problems refined and are able to enhance their overall skills which ultimately results in better placements.
- GROW UP, YOU ARE NOT IN UNDERGRAD ANYMORE! Don’t hide behind your friends or group mates during presentations. You can hide now but you will be badly exposed during the placement processes as you will lack the soft skills necessary to make an impact.
- READ… A LOT! The coursework is designed in such a way that it needs good amount of reading and analysis of different topics every day. This may be at least 50-100 pages per day of reading and analysis. To top this, you will be tied up with presentations, quizzes, assignments, group projects, individual projects, etc. for most of the time. The only difference between those who truly benefit from their MBA and those who don’t, will be the Time Management and determination & commitment to continuously put efforts and learn.
All work and no play at a B-School? Ah! A big NO!
Calm down! YOU WILL HAVE A LOT OF CRAZY FUN!
There are numerous committees and forums in different B-Schools meant for varied purposes and objectives. You should try to be part of the committee and/or forum of your choice. This ensures that you are having a dedicated group where you conceptualize activities, cultivate ideas, learn to market , learn to interact with corporates as well as media. Simultaneously, there would be B-School events running almost throughout the year participating in which further enhances your skills. B-School events like Last Man Standing enables you to showcase yourself as a Leader of Tomorrow, specialization related competitions permit you to display to entire B-School arena your mettle in specific specialization.
These days even lot of companies have been launching B-School competitions providing the platform to budding managers as they too realize the importance of B-School events even from industry perspective. Few major companies which are in this bandwagon include HUL (Lime), P&G (Dream Team), Marico (Face off) , Pepsi, GSK, J&J , GeP , Amazon and many more.
At last, but not the least – you get a chance to showcase your entrepreneurial and innovation skills. You may come up with your own concept of an event that has never ever happened earlier in B-School arena and be the founder of a new concept of events. And to name one such event which has gained high visibility in B-School arena is NITIE Premier League, the cricket league comprising multiple teams with domestic and foreign players, team owners, brand managers and sponsors.
The gist of letting you know is this that there is nothing which can prevent you from growing during 2 years of MBA, do not let any kind of shackles prevent you from pursuing your dream(s) during 2 years. Reason being if you stop yourself during these years, you might never find it that easy to cross the hurdles once in industry post MBA.
If things get too heavy, there is always that one contact in every college which will help you roll a Doobie!
What you need to know about Placements?
A stint at any job during your Summer internship can have a huge impact on your life. Many people discover that certain domain or field where they always dreamt of working is not where they want to work anymore. People gain a perspective about what it is like working in a corporate environment and many rethink their specialization plans during/after summer internships.
Anyone who wants to make a career in marketing should be ready to get his/her hands dirty in sales. Working at the ground level teaches a person a lot about selling. It makes him understand customer behavior better than any textbook or even the best professors in the world could have made him. Students also get to understand how the whole value chain of distributors, wholesalers, retailers and finally the end customer works. Be ready to work in Tier 2 cities and even in remote villages if you want to work in big FMCG companies.
MBA is a not a ticket to cozy cabins and a lavish life as many of you must be thinking at this moment. There is lot of hard work and struggle required post MBA to be successful and finally being worth that cozy cabin and lavish life.
You may even come to know that an associate director of today at coveted bank like Stan C has dispensed cash in ATMs when he started his job post mba. And even now, he has to travel more than 200 km everyday to visit his clients in order to expand the business.
Now, this is very important. So, read it carefully and with a strong heart. When you look at the placement reports of the college you are joining, it is easy to misunderstand how much money you are going to make. For example, you may say that as the average salary is 12 lakhs, I would be making 1 lakh Rs. per month.
How did you get Waist deep in money? Ah, just finished my MBA.
What you don’t know is that most of the placement reports show what in industry is popularly known as Maximum Earning Potential. Aah! a question pops up !! What is Maximum Earning Potential?
Let’s say a company offers you a package of 20 lakhs that includes Monetary and Non Monetary benefits such as lodging, travel, food, etc. The non monetary benefits are monetized to get to the final CTC.
Now, the CTC also consists of variable components which are sometimes as high as 100% of fixed salary. For example, if the fixed salary is 10 lakhs, it takes the CTC to 20 lakhs just by including the variable component of 100%. A person normally ends up getting around 12-13 lacs with a above average performance but the placement report would mention it as 20 lakh rupees. This practice is followed across almost all the b-schools in India and encouraged by the companies as this brings better talent to both the b-school and the company as it makes them look more lucrative.
Having said this and just to make you feel better by ending this on a positive note: Many companies do offer very good salaries with high fixed components as well. 😛
Hope these insights will help you prepare yourself better for the journey ahead. Please do hit LIKE and share this with your friends if you enjoyed reading the article.
From those who have been there, a while back.