75 Percent of MBA's Want to Migrate to U.S.
By siliconindia   |   Wednesday, 18 January 2012, 00:27 IST   |    5 Comments
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Bangalore: Over Seventy five percent of the B- School students preferred to relocate to the United States for a job, reveals an Associated Chambers of Commerce and Industry of India (Assocham) survey. While the other two most liked job locations are the United Kingdom and Australia with 40 percent and 20 percent of the B- school students selecting for these nations respectively. The other countries of their choice were Europe, Canada, Singapore and United Arab Emirates. D S Rawat, the ASSOCHAM Secretary General said, "Developed economies with better working conditions, good living standard and promising growth potential lure India's talent pool as 75 percent of MBAs wish to work abroad." The study was conducted to seek opinions of over 500 students from top B-schools in the country, namely Indian Institute of Management, Indian Institute of Foreign Trade, Institute of Management Technology, SP Jain Institute of Management and Research, Symbiosis Institute of International Business (Pune), Xavier Institute of Management (Bhubaneswar), ICFAI Business School, Birla Institute of Management Technology, Institute of Agri Business in the major cities of Delhi, Mumbai, GOA, Cochin, Chennai, Ahemdabad, Hyderabad, Indore, Patna, Pune, Chandigarh and Dehradun. However, over 83 percent of the students, who participated in the survey, acknowledged that they are willing to renounce a fat salary for a job of their preference, as a job profile of their preference will benefit them in their long term career. By refusing the tempting pay packages the future managers want to concentrate on their preferred designations merged with the growth opportunities. It was quite astonishing to see that only four percent of the B- School graduates chose to go for hefty pay packages over a good job profile. Earlier it was seen that the majority of the MBA graduates opted high paying jobs because of the desire for a higher standard of living, family expectations and responsibilities, compulsion to pay hefty amount of education loans, to save for investment in entrepreneurship etc. However, the study demonstrated that things have taken a different shape altogether as the young B-school graduates give more emphasis on their future growths than the present rewards. Banking emerged as the most preferred sector amid the B- School students as 51 percent of the students preferred to work in this sector after the completion of their management course. The other preferred sectors were consultancy, marketing and IT with 44, 40 and 38 percent respectively. Thirty four percent of the students claimed that they will not sacrifice the sector for any benefit in form of income or profile. On the other hand, 20 percent of the students affirmed that their choice would depend on the factors like job satisfaction, growth potential, ease of switching to desired function, company culture, working hours, relevance of prior work experience, challenge, current financial position, brand name of the company and feedback from the people of the company.