Work experience more crucial than ever for new MBA graduates, India’s top B-schools say
₹33.05 lakh including stock options, performance bonuses, one-time payments, and so on. The median salary for graduates of the two-year MBA programme for batch of 2023 at IIM-Ahmedabad was not available. The 2024 batches at business schools are currently at the fag end of placements seasons.
New subjects at IIMs include analytics and digital courses, learning about the clash between different sectors, such as FMCG and e-commerce, and how companies revised their strategies after two years of covid. Placement batch profiles on the websites of IIMs in Bangalore, Ahmedabad, Calcutta, Lucknow, Indore and Kozhikode show that more than 70% of students have had work experience before embarking on a two-year MBA course. According to recruiters, firms are ready to pay more money for experienced candidates with fresh training on how to handle crises.
"Students with work experience can make quick, data-driven decisions. Companies opt for students with work experience as they are much quicker when it comes to understanding and managing businesses," said Kiran Neti, director, career advancement services, Indian School of Business (ISB). The management college said that recruiters want candidates who can provide quick solutions, make quick decisions, and implement them.
"Having work experience always helps with devising new strategies," Neti added. However, this does not mean there are no opportunities for freshers. "The preference for students with work experience varies among recruiters, and [hiring] is not solely dependent on this factor.
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