MBA graduates focus on job profiles than pay packages. This finding was made by a recent study conducted by Associated Chambers of Commerce and Industry of India (ASSOCHAM). The study has observed that 83 per cent of the MBA graduates from major business schools in India give preference to job profiles and not huge pay package. This can be considered as a positive trend, given the focus on present day students are said to be on high paying jobs.

A recent study and the findings

Majority of the students from the Business schools who participated in the survey responded that the job profiles which they like would help them in long way as far their career is concerned. They are more oriented towards a preferred job profile along with opportunities for growth, which makes the pay packages a secondary factor that influences their decision to take up a job.

During the survey, only four per cent of the students responded that they prefer a hefty pay package over job profile. There are many factors that influence the students to go after jobs which offer huge pay packages. Such factors that mostly influence the students are the attraction towards a high standard of living and the need to repay the huge education loans are the most important. The other factors include the expectations from the part of the family and family responsibilities and savings to accumulate wealth to start their own ventures. How ever the result of the survey shows that there is a general change in the preference of students from heavy pay packages to future growth potential.

Few examples in some of the business schools

Ashwin Murli, external relations secretary of Indian Institute of Management Kolkata, says that most the MBA graduates who pass out from the institute gives importance to their field of interest rather than pay package. At IIMC, many of the students who were secured a job through campus placement did not join the respective companies as the jobs were not in the field of their interest. Most of them opted for small and growing companies, even though the salary package was small, as they offered jobs in the area of interest of the students.

Job satisfaction is important

A pass out from Indira Institute of Management, Pune, observed that job satisfaction holds the key when long term career is considered. The graduate noted that choosing a job she likes would help her in developing consistency and improving her performance. She added that the probability of demotion will increase if the salary is taken into account as a prime factor.

About the preferred sector

The survey reports that 46 per cent of students were ready to leave the sector of their interest to secure a job which offers a profile of their interest along with attractive pay packages. How ever thirty four per cent of the students said that they will never leave the sector of their interest to join any other job that will provide attractive pay packages or a better job profile.

According to Vineet Chibber, Professor, Mudra Institute of Communications Ahmedabad (MICA) the process of selection happens effortlessly.

The key factors that influences the selection of jobs

The survey has found that 20 per cent of the students who were surveyed considered factors such as job satisfaction, company culture, growth potential, brand name of the company and many other factors while choosing the job.

Preferences likely to change with job market

Bhaskar Choudhary, placement secretary, IIM-I differed from these observations made in the study and the opinions put forward by others. He says that the preference of the students will change according to the job opportunities available in the market.

According to Pooja Parekh, Human Resource director at Text 100, a Public Relations agency, there are instances where MBA graduates declined to accept sales jobs as they wanted to join Public Relations and Marketing jobs, while the salary offered by the later was 50 per cent less when compared to the sales job.

The survey has also found that seventy five per cent of the students who participated in the survey prefer to go to the United States to find a job. 40 per cent of the students preferred to go to the United Kingdom and 25 per cent of them preferred to go to Australia to find a job.

Other favorite job destinations include Europe, Singapore and UAE. 51 per cent of the students selected banking as their favorite sector to work with followed by consultancy, Information Technology and marketing.

The pan India survey covered 500 students from leading business schools in the country which Included IIM, IMT and Symbiosis Institute of International Business. The survey covered metros such as Delhi, Mumbai, Chennai and other cities such as Cochin, Indore, Ahmedabad and many others.

The survey has however shed light into the preferences of the MBA graduates from various leading business schools in India. This will act as a meaningful input to the business world who recruits employees from such institutes as they now know what drives the students to take up jobs. These findings may be short lived as the trend may change based on the job market, but still exposes the approach of students towards jobs and life as job is a part of life. Job satisfaction has gained importance among graduates and the survey makes it clear that satisfaction does not come from monetary benefits alone, but from ones desire and interest towards a particular field.

The observations made by the survey may be a wake up call for MBA graduates from other institutes who consider pay packages as an important factor in choosing a job. Even the parents too have a great deal to learn from the survey, who in many cases persuade the graduates to take up a job which is highly rewarding than pursuing a job of their interest. It would be better for the companies if the trend observed by the survey stays for long as it would reduce attrition and help them to find employees who are passionate about the jobs they do.