PAYBACK
Top performers in terms of salary increases
(Figures in %)
Sectors 2007 2008
Real estate & infrastructure 28-29 25.0
Telecommunications 17.2 17.6
Oil & gas exploration, energy 19.0 17.5
Hospitality, restaurants 15.4 17.1
Banking & fin services 12.9 16.9
Manufacturing 14.2 14.4
IT-enabled services 11-12 14.0
Despite the slowdown and turmoil in financial markets, private sector employees have received or can look forward to an average salary increase of 15 per cent this year, roughly the same as the year before but lower in real terms because of the inflation rate, which is ruling at 8 per cent.
Still, this is better than most markets – 5.5 per cent in the US and 8 per cent in China, for instance – mainly thanks to the talent crunch and rapid growth in many sectors.
"Given the slowdown, companies are being cautious. Average increases will be 7 to15 per cent though top performers will still get 25 to 30 per cent, '' said K. Sudarshan, managing partner (India) for executive search firm EMA Partners International.
HR firm Hewitt Associates, however, estimates average salaries in India rose 15.2 across sectors for 2008-09 in line with the increases last year (15.1 per cent) and better than the year before (14.4 per cent) despite slowdown in many sectors.
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Showing posts with label BIN. Show all posts
Showing posts with label BIN. Show all posts
Tuesday, May 27, 2008
Thursday, May 15, 2008
Science and Engg Board to promote research
In an effort to boost basic scientific research, the Government today decided to set up a Science and Engineering Research Board (SERB).
The Board will seek to enhance the level of basic research and also impart necessary autonomy, flexibility and speed in shaping research and delivery of funds to researchers.
This was decided at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh. Briefing reporters, Finance Minister P Chidambaram said the Board will be a high-level empowered body with necessary administrative and financial autonomy chaired by Secretary of Department of Science and Technology.
The Board can sanction individual projects up to Rs 75 crore with the approval of the Ministry of Science and Technology. He said that on policy matters, the Board will receive necessary guidance from an Oversight Committee chaired by a scientist of international repute.
The need for having such a body was felt in view of rapid changes in the basic scientific research at the global level with increasing competition every day, he said.
A Science and Engineering Research Bill will be introduced in Parliament and the Board will be constituted under the Act, he said.
The Cabinet also approved a Planning Commission proposal to set up a Coodinated Mechanism for skill development encompassing different public and private initiatives, Chidambaram said.
He said while the ministries and various departments would continue to be responsible for the skill development programmes under them, the National Skill Development Corporation will take care of the skill development in the private sector.
The Finance Minister said coordinated action would aim at creating a pool of skilled personnel in appropriate numbers with adequate skills in line with the employment requirements across the country.
The Board will seek to enhance the level of basic research and also impart necessary autonomy, flexibility and speed in shaping research and delivery of funds to researchers.
This was decided at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh. Briefing reporters, Finance Minister P Chidambaram said the Board will be a high-level empowered body with necessary administrative and financial autonomy chaired by Secretary of Department of Science and Technology.
The Board can sanction individual projects up to Rs 75 crore with the approval of the Ministry of Science and Technology. He said that on policy matters, the Board will receive necessary guidance from an Oversight Committee chaired by a scientist of international repute.
The need for having such a body was felt in view of rapid changes in the basic scientific research at the global level with increasing competition every day, he said.
A Science and Engineering Research Bill will be introduced in Parliament and the Board will be constituted under the Act, he said.
The Cabinet also approved a Planning Commission proposal to set up a Coodinated Mechanism for skill development encompassing different public and private initiatives, Chidambaram said.
He said while the ministries and various departments would continue to be responsible for the skill development programmes under them, the National Skill Development Corporation will take care of the skill development in the private sector.
The Finance Minister said coordinated action would aim at creating a pool of skilled personnel in appropriate numbers with adequate skills in line with the employment requirements across the country.
Tuesday, May 6, 2008
Top IIM-A case studies to go online, bear a price tag
They have shaped careers and reformed businesses. Now, the tomes of traditional wisdom are out for everyone, albeit with a tag. Case studies, an important ingredient of the curriculum of the post-graduate management programme (PGPM) of the Indian Institute of Management Ahmedabad (IIM-A), will serve as a new source of income for the institute.
Accumulated over four decades of the existence of the institute, these case studies will be put up for sale to other B-schools, corporates and individuals, on the lines of Harvard Business School (HBS) where they are not just another pedagogical tool but also an important source of revenue.
The institute has collected over 2,500 case studies over all these years, written either by the faculty members or sourced from top global B-schools. They contribute to more than 60% of PGPM curriculum at IIM-A. To begin with, the institute will put up 300 most popular case studies online, each bearing different price tag for different categories of customers. The institute is in the process of ascertaining the price.
“Our curriculum, based on the model of Harvard B-School, banks heavily on case studies. More than 60% of PGPM syllabus constitutes of case studies, on the lines of global B-schools like Harvard, London Business School and University of Texas at Austin, etc,” said IIM-A faculty Arvind Sahay.
Accumulated over four decades of the existence of the institute, these case studies will be put up for sale to other B-schools, corporates and individuals, on the lines of Harvard Business School (HBS) where they are not just another pedagogical tool but also an important source of revenue.
The institute has collected over 2,500 case studies over all these years, written either by the faculty members or sourced from top global B-schools. They contribute to more than 60% of PGPM curriculum at IIM-A. To begin with, the institute will put up 300 most popular case studies online, each bearing different price tag for different categories of customers. The institute is in the process of ascertaining the price.
“Our curriculum, based on the model of Harvard B-School, banks heavily on case studies. More than 60% of PGPM syllabus constitutes of case studies, on the lines of global B-schools like Harvard, London Business School and University of Texas at Austin, etc,” said IIM-A faculty Arvind Sahay.
Nuts and bolts WHAT THEY DON`T TEACH YOU AT B-SCHOOL
Most of us step out of B-school with a spirit to conquer the world. As a fresh graduate, the only thing on my mind was to outshine my compatriots. B-schools teach you to be focused and fiercely competitive, but organisations don't need people who are forever aggressive.
Successful managers don't think just about their own success, but also that of the organisation. A high degree of "interdependence" among employees thus becomes imperative. We often see those successful at their jobs help others succeed without factoring in "what's in it for me".
Businesses are built and grown on well thought out partnerships. A friend once said "the world is small, round and, to top it all, it revolves". This means that a professional needs to build bridges and ensure two-way communication — be it within the organisation, with service providers or suppliers, or even competition.
Efficient managers are those who can get the right work out of people, keep them happy, motivate them consistently, and help them whenever it is required. Such inter-personal skills cannot be taught in a classroom. They can only be learnt on the job.
Case studies analysed at B-schools hardly take into account the human angle. In a case study, it is assumed that every one listens to you, but in an organisation, you may have to live with decisions which cannot be contradicted. Taking cognisance of such forces is not taught at B-school.
Any problem can be solved in a case study because of well-laid-out concepts and situations. But in real life, we may be exposed to blank situations which are open-ended, and where nothing is defined. What works is not the technical or analytical skills, but simple nuts and bolts stuff.
Successful managers don't think just about their own success, but also that of the organisation. A high degree of "interdependence" among employees thus becomes imperative. We often see those successful at their jobs help others succeed without factoring in "what's in it for me".
Businesses are built and grown on well thought out partnerships. A friend once said "the world is small, round and, to top it all, it revolves". This means that a professional needs to build bridges and ensure two-way communication — be it within the organisation, with service providers or suppliers, or even competition.
Efficient managers are those who can get the right work out of people, keep them happy, motivate them consistently, and help them whenever it is required. Such inter-personal skills cannot be taught in a classroom. They can only be learnt on the job.
Case studies analysed at B-schools hardly take into account the human angle. In a case study, it is assumed that every one listens to you, but in an organisation, you may have to live with decisions which cannot be contradicted. Taking cognisance of such forces is not taught at B-school.
Any problem can be solved in a case study because of well-laid-out concepts and situations. But in real life, we may be exposed to blank situations which are open-ended, and where nothing is defined. What works is not the technical or analytical skills, but simple nuts and bolts stuff.
Wednesday, April 23, 2008
Harvard biz school students study Akshaya Patra
Akshaya Patra Foundation, an NGO-run mid-day meal programme of Iskcon, Bangalore has been a case study for students of Harvard Business School (HBS).
Announcing this to reporters here, Madhu Pandit Dasa, head of Iskcon and chairman of Akshaya Patra Foundation, said, “The business school students studied Akshaya Patra for its operational excellence, adoption of modern technology and scalability.”
“The HBS case study is another positive step in boosting our efforts to ensure that we reach out to a million children by the end of this decade,” he added.
The study was done by David Upton, Christine Ellis, Sarah Lucas and Amy Yamner after their study tour of India in 2006. The study was carried out through field work, personal interviews with a number of Akshaya Patra officials and schools benefited by them.
What started as a pilot in 2000 in Bangalore feeding 1,500 children, now offers meals to 850,000 children in over 4,500 government schools and anganwadis in 11 locations spread over six states. Akshaya Patra has set a goal of feeding one million children daily by 2010.
Madhu Pandit Dasa, said “The foundation, however felt confident that they will reach this goal. Performance always exceeds promises. There are three significant limitations to achieve this growth: perfecting and setting up operations, training a dedicated workforce and funding.”
“While HBS cases developed as part of the curriculum and are generally not intended to serve as endorsements, the fact remains these case studies carry substantial weightage as they represent as a clear picture of an organisation, its ability to carry out specific operations,” said Raj Kondur, trustee, Akshaya Patra Foundation.
Announcing this to reporters here, Madhu Pandit Dasa, head of Iskcon and chairman of Akshaya Patra Foundation, said, “The business school students studied Akshaya Patra for its operational excellence, adoption of modern technology and scalability.”
“The HBS case study is another positive step in boosting our efforts to ensure that we reach out to a million children by the end of this decade,” he added.
The study was done by David Upton, Christine Ellis, Sarah Lucas and Amy Yamner after their study tour of India in 2006. The study was carried out through field work, personal interviews with a number of Akshaya Patra officials and schools benefited by them.
What started as a pilot in 2000 in Bangalore feeding 1,500 children, now offers meals to 850,000 children in over 4,500 government schools and anganwadis in 11 locations spread over six states. Akshaya Patra has set a goal of feeding one million children daily by 2010.
Madhu Pandit Dasa, said “The foundation, however felt confident that they will reach this goal. Performance always exceeds promises. There are three significant limitations to achieve this growth: perfecting and setting up operations, training a dedicated workforce and funding.”
“While HBS cases developed as part of the curriculum and are generally not intended to serve as endorsements, the fact remains these case studies carry substantial weightage as they represent as a clear picture of an organisation, its ability to carry out specific operations,” said Raj Kondur, trustee, Akshaya Patra Foundation.
Thursday, April 17, 2008
IITs agree to increase seats by 13%
The seven Indian Institutes of Technology today announced a 13 per cent increase in capacity for 2008-09 which would be able to accommodate 9 per cent quota for other backward classes in the coming year.
The rest of the quota – the Supreme Court has upheld reservation of 27 per cent seats for OBCs — will be implemented in the subsequent two years.
On the other hand, the three new IITs coming up in Andhra Pradesh, Bihar and Rajasthan this year will implement the 27 per cent quota from the first year itself.
At present, there are more than 4,000 seats in the seven IITs at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati and Roorkee, annually.
After a meeting of the seven IITs in New Delhi, IIT Delhi Director Surendra Prasad said the institutes, which held their entrance tests for academic year 2008-09 last Sunday, had also decided to set the eligibility for OBC candidates at 10 per cent less than that for the general category.
IIT officials, who did not want to be named, said that of the 321,643 applications received for the IIT entrance examination this year, 64 per cent were from the general category, 10 per cent from scheduled castes and 3 per cent from scheduled tribes. The percentage of OBCs among the applicants was 23 per cent.
According to Prasad, the undergraduate seats in the new year will increase by 880. Of this, 520 will be in the existing seven IITs and 360 in the three new ones.
The rest of the quota – the Supreme Court has upheld reservation of 27 per cent seats for OBCs — will be implemented in the subsequent two years.
On the other hand, the three new IITs coming up in Andhra Pradesh, Bihar and Rajasthan this year will implement the 27 per cent quota from the first year itself.
At present, there are more than 4,000 seats in the seven IITs at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati and Roorkee, annually.
After a meeting of the seven IITs in New Delhi, IIT Delhi Director Surendra Prasad said the institutes, which held their entrance tests for academic year 2008-09 last Sunday, had also decided to set the eligibility for OBC candidates at 10 per cent less than that for the general category.
IIT officials, who did not want to be named, said that of the 321,643 applications received for the IIT entrance examination this year, 64 per cent were from the general category, 10 per cent from scheduled castes and 3 per cent from scheduled tribes. The percentage of OBCs among the applicants was 23 per cent.
According to Prasad, the undergraduate seats in the new year will increase by 880. Of this, 520 will be in the existing seven IITs and 360 in the three new ones.
Sunday, April 6, 2008
ISB 2008 batch averages Rs 19 lakh in offers
The placement offers for the Class of 2008 have set new records in the six-year history of the Indian School of Business (ISB), with the students attracting an average Indian cost-to-company (CTC) package of Rs 19 lakh per year, as against Rs 15.27 lakh last year. The comprehensive average of all international offers stood at $144,812 over the previous year’s $135,000.
ISB, however, has decided not to highlight the highest salary figure, and instead focus on sharing an overall picture of student performance during the placement season.
Around 657 job offers were made by close to 230 companies to the class of 2008 comprising 422 students, The international CTC averages are $138,614 (US), $156,658 (Europe), $125,389 (West Asia) and $145,607 (Asia Pacific).
The consulting sector (44 per cent) turned out to be the biggest international recruiter, followed by financial services (22 per cent) and manufacturing (17 per cent). Eighteen students opted out of the placements process.
ISB, however, has decided not to highlight the highest salary figure, and instead focus on sharing an overall picture of student performance during the placement season.
Around 657 job offers were made by close to 230 companies to the class of 2008 comprising 422 students, The international CTC averages are $138,614 (US), $156,658 (Europe), $125,389 (West Asia) and $145,607 (Asia Pacific).
The consulting sector (44 per cent) turned out to be the biggest international recruiter, followed by financial services (22 per cent) and manufacturing (17 per cent). Eighteen students opted out of the placements process.
IIM-A defends fee hike
Indian Institutes of Management (IIMs), specifically IIM-Ahmedabad (IIM-A), which have announced a steep hike in their fees last week are unlikely to revise (scale down) the new fee structures.
Vijaypat Singhania, the chairman of the governing council of IIM-Ahmedabad who met Minister of Human Resource Development Arjun Singh today, justified the fee hike and said they would take steps to ensure that all deserving students get into the premier institution.
“I met the minister as he was concerned about the fee hike. I explained him at length as why we had to go for such a move. The hike is purely on the basis of costs and in the wake of the Sixth Pay Commission report. I think the minister was satisfied with our point,” Singhania told reporters after meeting Arjun Singh at his residence. “The new fee structure would remain the same,” he said.
Vijaypat Singhania, the chairman of the governing council of IIM-Ahmedabad who met Minister of Human Resource Development Arjun Singh today, justified the fee hike and said they would take steps to ensure that all deserving students get into the premier institution.
“I met the minister as he was concerned about the fee hike. I explained him at length as why we had to go for such a move. The hike is purely on the basis of costs and in the wake of the Sixth Pay Commission report. I think the minister was satisfied with our point,” Singhania told reporters after meeting Arjun Singh at his residence. “The new fee structure would remain the same,” he said.
Thursday, April 3, 2008
IITs show what sharing faculty is all about
The government appears to have hit upon a novel faculty-sharing solution to tackle the shortage of quality faculty at the premier Indian Institutes of Technology (IITs).
The shortage will accentuate now that eight new IITs have been announced.
The ministry of human resource development under Arjun Singh is understood to have approached the directors at these institutes, exhorting them to not only mentor the new IITs but also take additional charge of the new institutes initially.
A similar plan may be later laid out for the Indian Institutes of Management (IIMs) too.
The plan for IITs envisages that professors from the IITs in Delhi, Kanpur and Madras will mentor students at the new IITs in Rajasthan, Bihar and Andhra Pradesh, respectively, by shuttling to-and-fro and taking classes at both the institutes.
While one of the directors at these IITs, on condition of anonymity, confirmed the development, he also added: "The HRD Ministry did discuss its plans with us but we have not got any written communication from the ministry in this regard."
Last week, the HRD ministry announced the locations of eight new IITs and seven new IIMS. However, they have to first scale the faculty hurdle. "These institutes could be started in a temporary building, like that of IIM Shillong. But finding faculty is the biggest hurdle," said a Planning Commission member.
To begin operations, every IIT would require at least 50 whereas every IIM would require at least 20 faculty members.
The faculty crunch at IITs and IIMs is already acute. The seven existing IITs have 2,630 faculty members, according to the HRD ministry). It's estimated that they IITs require 3,500 to maintain their teaching standards. The situation at IIMs is little better.
The shortage will accentuate now that eight new IITs have been announced.
The ministry of human resource development under Arjun Singh is understood to have approached the directors at these institutes, exhorting them to not only mentor the new IITs but also take additional charge of the new institutes initially.
A similar plan may be later laid out for the Indian Institutes of Management (IIMs) too.
The plan for IITs envisages that professors from the IITs in Delhi, Kanpur and Madras will mentor students at the new IITs in Rajasthan, Bihar and Andhra Pradesh, respectively, by shuttling to-and-fro and taking classes at both the institutes.
While one of the directors at these IITs, on condition of anonymity, confirmed the development, he also added: "The HRD Ministry did discuss its plans with us but we have not got any written communication from the ministry in this regard."
Last week, the HRD ministry announced the locations of eight new IITs and seven new IIMS. However, they have to first scale the faculty hurdle. "These institutes could be started in a temporary building, like that of IIM Shillong. But finding faculty is the biggest hurdle," said a Planning Commission member.
To begin operations, every IIT would require at least 50 whereas every IIM would require at least 20 faculty members.
The faculty crunch at IITs and IIMs is already acute. The seven existing IITs have 2,630 faculty members, according to the HRD ministry). It's estimated that they IITs require 3,500 to maintain their teaching standards. The situation at IIMs is little better.
Wednesday, April 2, 2008
How to face failure
Good business schools boost your self-confidence by providing you with excellent business tools — discounted cash flows, game theory, organisational behaviour, financial accounting, and so on — all of which can help you manage and understand diverse work situations.
So when I finished business school, I was filled with the confidence of being able to handle the toughest problems and always emerge a winner. After all, we had cracked every case-study thrown at us.
We understood the mistakes made along the way and learnt the best practices of successful corporates around the globe. Thus armed, I returned to India with the objective of running my own company and a vow: never to be an employee again.
I had decided to start a venture in manufacturing diamond jewellery for export. No sooner than we started, the Government of India banned the export of jewellery containing gold. And that was it!
All the case-studies had not prepared me for such an eventuality. Naturally, the venture failed. Education assumes optimistic outcomes, starting with passing out from college, so we had not been taught how to handle failure.
So there I was, a young 30-year-old, newly married, fresh out of a premier B-school, with the rug pulled from under my feet. There was little capital left, except for a roof over our head, which was courtesy my dad. So what’s next? Should I give up and take up a job, or try again?
Let me share a framework that worked for me. First, I took a break with my wife, just to get away from the “scene of the crime”, so to speak. It allowed me to clear my mind.
Then I resisted the pressure to take the first thing that came along by allowing some time to think about why things happened as they did. It also gave me an opportunity to talk with friends and well-wishers who had nothing to do with the business.
I could deliberate on what I did wrong, and what I did right, allowing me to answer the key question “am I a failure as an entrepreneur or can I succeed?” When I resolved that my fundamental approach to being an entrepreneur was valid, I could move ahead with confidence in myself and in my ability to succeed.
It was very important to treat the business failure as a lesson, as a step in the game of life, to be able to persist with my objectives, with a determination that drew from the inner strength of deep introspection.
So when faced with a “game changing” failure, whether as an entrepreneur or as a manager, one needs to take a break, think through one’s objectives and lessons learnt, before moving onto the next phase, with persistence and a renewed determination to succeed.
So when I finished business school, I was filled with the confidence of being able to handle the toughest problems and always emerge a winner. After all, we had cracked every case-study thrown at us.
We understood the mistakes made along the way and learnt the best practices of successful corporates around the globe. Thus armed, I returned to India with the objective of running my own company and a vow: never to be an employee again.
I had decided to start a venture in manufacturing diamond jewellery for export. No sooner than we started, the Government of India banned the export of jewellery containing gold. And that was it!
All the case-studies had not prepared me for such an eventuality. Naturally, the venture failed. Education assumes optimistic outcomes, starting with passing out from college, so we had not been taught how to handle failure.
So there I was, a young 30-year-old, newly married, fresh out of a premier B-school, with the rug pulled from under my feet. There was little capital left, except for a roof over our head, which was courtesy my dad. So what’s next? Should I give up and take up a job, or try again?
Let me share a framework that worked for me. First, I took a break with my wife, just to get away from the “scene of the crime”, so to speak. It allowed me to clear my mind.
Then I resisted the pressure to take the first thing that came along by allowing some time to think about why things happened as they did. It also gave me an opportunity to talk with friends and well-wishers who had nothing to do with the business.
I could deliberate on what I did wrong, and what I did right, allowing me to answer the key question “am I a failure as an entrepreneur or can I succeed?” When I resolved that my fundamental approach to being an entrepreneur was valid, I could move ahead with confidence in myself and in my ability to succeed.
It was very important to treat the business failure as a lesson, as a step in the game of life, to be able to persist with my objectives, with a determination that drew from the inner strength of deep introspection.
So when faced with a “game changing” failure, whether as an entrepreneur or as a manager, one needs to take a break, think through one’s objectives and lessons learnt, before moving onto the next phase, with persistence and a renewed determination to succeed.
IIM-A raises fee almost three times
Studying at the premier Indian Institutes of Management (IIMs) is no longer cheap. The Indian Institute of Management Ahmedabad (IIM-A) today almost trebled the fee for its flagship two-year post-graduate (PGP) management programme from Rs 4 lakh to Rs 11.5 lakh, beginning from this academic year. The fees have gone up from Rs 2 lakh each year to Rs 5.5 lakh for the first year and Rs 6 lakh for the second.
Its fee hike is the highest among all IIMs. The institute had earlier announced a fee hike for its Post-Graduate Programme in Management for Executives (PGPX) from Rs 10 lakh to Rs 14 lakh for the 2008-09 batch.
ELITE LEAGUE
Change in fee structure for 2-year PGDBM course
Institutes ‘07 ‘08 change (%)
IIM A 4 11.5 187.5
IIM C 4 7 75
IIM B 5 8 60
IIM L 4 5 25
IIM I 3.8 To consider
Earlier this week, IIM-Bangalore too had hiked its fee from Rs 5 lakh to Rs 8 lakh. And earlier this month, IIM-Calcutta announced a fee hike of 75 per cent, from Rs 4 lakh to Rs 7 lakh, for its 2008-2010 batch. However, the 2009-2011 batch at IIM-C will shell out Rs 8 lakh for the PGP programme.
Vijaypat Singhania, chairperson, IIM-A board, said, “The IIMs should not be financially supported by anyone. Recently, IIT Bombay had to ask the government for funds, which was a shameful state of affairs. I do not want this to happen to IIM-A. IIMs should not be dependent on outside resources. IIM-A is capable of standing on its own feet.”
He added, “I am not supporting profiteering in educational institutes. But creating surplus is important. The government (HRD Ministry) needs to give more autonomy to such institutes that create a great tomorrow. If the government interferes in the institute’s affairs, the basic foundation of the institute will be shaken.”
The IIMs are increasing the fees in view of rising costs and to meet growing expenditure, while providing better opportunities and improved facilities to the students.
IIM-A, IIM-C and IIM-B do not receive grants from the government and support their academic activities with their own funds. The three IIMs are planning to better the salaries of their professors and an increased fee would help in doing just that.
Its fee hike is the highest among all IIMs. The institute had earlier announced a fee hike for its Post-Graduate Programme in Management for Executives (PGPX) from Rs 10 lakh to Rs 14 lakh for the 2008-09 batch.
ELITE LEAGUE
Change in fee structure for 2-year PGDBM course
Institutes ‘07 ‘08 change (%)
IIM A 4 11.5 187.5
IIM C 4 7 75
IIM B 5 8 60
IIM L 4 5 25
IIM I 3.8 To consider
Earlier this week, IIM-Bangalore too had hiked its fee from Rs 5 lakh to Rs 8 lakh. And earlier this month, IIM-Calcutta announced a fee hike of 75 per cent, from Rs 4 lakh to Rs 7 lakh, for its 2008-2010 batch. However, the 2009-2011 batch at IIM-C will shell out Rs 8 lakh for the PGP programme.
Vijaypat Singhania, chairperson, IIM-A board, said, “The IIMs should not be financially supported by anyone. Recently, IIT Bombay had to ask the government for funds, which was a shameful state of affairs. I do not want this to happen to IIM-A. IIMs should not be dependent on outside resources. IIM-A is capable of standing on its own feet.”
He added, “I am not supporting profiteering in educational institutes. But creating surplus is important. The government (HRD Ministry) needs to give more autonomy to such institutes that create a great tomorrow. If the government interferes in the institute’s affairs, the basic foundation of the institute will be shaken.”
The IIMs are increasing the fees in view of rising costs and to meet growing expenditure, while providing better opportunities and improved facilities to the students.
IIM-A, IIM-C and IIM-B do not receive grants from the government and support their academic activities with their own funds. The three IIMs are planning to better the salaries of their professors and an increased fee would help in doing just that.
After IIMs, IITs plan to hike fees
After IIMs, IITs plan to hike fees
BS Reporter / New Delhi April 2, 2008
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
BS Reporter / New Delhi April 2, 2008
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
IITs seek govt approval to double fees from June
Around a decade after they last raised fees, the Indian Institutes of Technology (IITs) have approached the government for permission to double annual tuition fees from June this year, when a new batch of 4,100 students begin studying at the IITs.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
Confirming the development, Surendra Prasad, director, IIT Delhi, said, "There has been a proposal to raise the fee for some time now."
Sources said the directors of all the seven IITs wrote to the prime minister a month ago requesting higher fees.
An IIT student pays an annual fees of Rs 25,000.
"Though we propose to double the fees, the fact is that we have not raised fees for a long time now, and the fee increase is not all that stiff when compared with private institutions," Prasad added.
On whether the fee increase will apply to students who are already enrolled at Kharagpur, Mumbai, Chennai, Delhi, Kanpur, Guwahati, and Roorkee, Prasad said, "We will decide whether or not it will apply to existing students once the government allows us to raise fees."
The move comes just ahead of the Joint Entrance Examination scheduled for April 13. About 200,000 students will take the test
The move follows steep fee increases by the Indian Institutes of Management (IIM) from this academic year. Top-ranked IIM-Ahmedabad has increased the course fee from Rs 4 lakh to Rs 11.5 lakh and IIM Bangalore has raised it to Rs 8 lakh from Rs 5 lakh.
A professor of IIT Roorkee said the IITs have also asked for capacity expansions at existing IITs, enhanced scholarships for the M. Tech programme and more faculty recruitment.
"A major portion of our funding, around 70 per cent, comes from the human resource development ministry. Around 30 per cent of the resources are being generated from activities like research and collaboration. Although fees are not a big source of our income, increasing them would help us strengthen our resources," Prasad said.
Friday, March 28, 2008
Know your initial worth in market
For those mulling their first job offer and wondering if they are being paid right, here is a website that could give an indication.
After the successful launch of paycheck.in, a portal which gives transparent wage rates across sectors, cities and countries, the Indian Institute of Management- Ahmedabad (IIM-A), IT Professionals Forum-Bangalore and Indian Institute of Science-Bangalore are now planning to launch fresherpaycheck.in.
This would be one of the first websites in India providing salary information to companies hiring at entry-levels and to those without work experience, who want to know their professional worth.
fresherpaycheck.in would be a part of the WageIndicator Foundation, a non-profit organisation and a joint initiative of FNV (Dutch confederation of trade unions), the University of Amsterdam/AIAS (Institute of Advanced Labour Studies) and career website Monster. The portal would contain entry-level information for those wanting to apply across several sectors like IT, finance and services.
Like paycheck.in, visitors to the site will be able to fill up a short questionnaire pertaining to their current employment, salary, incentives and educational background, which would be added to the database. Companies will also be able to fill in details on their wage structures, making it easy for freshers to have an idea of what salary they can quote during interviews. To protect the identity of the users, the portal will have personal details like name and company under wraps.
“We are working on fresherpaycheck.in and will look to discuss more details with the Wageindicator Foundation in Amsterdam,” said Biju Varkkey, an IIM-A professor. He said the website was being planned to help young professionals and that nearly 1,000 hits a day were expected after its inception around July 2008.
Despite giving information on specific domains like womenpaycheck.in and ITpaycheck.in, Varkkey said most visitors to paycheck.in wanted to know others’ salaries and did not want to put their own salaries on the database. The website receives as many as 1,500 hits a day but just 300 or so fill up the salary questionnaire. To counter this, fresherpaycheck.in is looking at fewer questions so that the process would be simpler.
The questionnaire takes information relating to the user’s sector, geographical position, profile, salary package, perquisites and other wage-based information anonymously, which could be compared by someone interested in the same position.
To encourage visitors to fill up the questionnaires, prizes like a trip to Africa or an iPod are also being offered by paycheck.in and similar wage websites affiliated to the Wageindicator Foundation. The site also has a separate section called VIP paycheck, which gives details on salaries drawn by famous personalities like Pratibha Patil, Sachin Tendulkar, Serena Williams and Hillary Clinton.
After the successful launch of paycheck.in, a portal which gives transparent wage rates across sectors, cities and countries, the Indian Institute of Management- Ahmedabad (IIM-A), IT Professionals Forum-Bangalore and Indian Institute of Science-Bangalore are now planning to launch fresherpaycheck.in.
This would be one of the first websites in India providing salary information to companies hiring at entry-levels and to those without work experience, who want to know their professional worth.
fresherpaycheck.in would be a part of the WageIndicator Foundation, a non-profit organisation and a joint initiative of FNV (Dutch confederation of trade unions), the University of Amsterdam/AIAS (Institute of Advanced Labour Studies) and career website Monster. The portal would contain entry-level information for those wanting to apply across several sectors like IT, finance and services.
Like paycheck.in, visitors to the site will be able to fill up a short questionnaire pertaining to their current employment, salary, incentives and educational background, which would be added to the database. Companies will also be able to fill in details on their wage structures, making it easy for freshers to have an idea of what salary they can quote during interviews. To protect the identity of the users, the portal will have personal details like name and company under wraps.
“We are working on fresherpaycheck.in and will look to discuss more details with the Wageindicator Foundation in Amsterdam,” said Biju Varkkey, an IIM-A professor. He said the website was being planned to help young professionals and that nearly 1,000 hits a day were expected after its inception around July 2008.
Despite giving information on specific domains like womenpaycheck.in and ITpaycheck.in, Varkkey said most visitors to paycheck.in wanted to know others’ salaries and did not want to put their own salaries on the database. The website receives as many as 1,500 hits a day but just 300 or so fill up the salary questionnaire. To counter this, fresherpaycheck.in is looking at fewer questions so that the process would be simpler.
The questionnaire takes information relating to the user’s sector, geographical position, profile, salary package, perquisites and other wage-based information anonymously, which could be compared by someone interested in the same position.
To encourage visitors to fill up the questionnaires, prizes like a trip to Africa or an iPod are also being offered by paycheck.in and similar wage websites affiliated to the Wageindicator Foundation. The site also has a separate section called VIP paycheck, which gives details on salaries drawn by famous personalities like Pratibha Patil, Sachin Tendulkar, Serena Williams and Hillary Clinton.
Four new IITs, six IIMs to be set up
In a bid to give an impetus to the higher education sector, government today decided to establish four new IITs and six IIMs in various states besides upgrading some of the state universities to the status of Central Universities.
While the new IITs would be located in Orissa, Madhya Pradesh (Indore), Gujarat and Punjab, the IIMs would come up in Tamil Nadu, Jammu and Kashmir, Jharkhand, Chhattisgarh (Raipur), Uttarakhand and Haryana.
These new institutions would be part of the eight IITs and seven IIMs proposed to be set up during the 11th Five Year Plan.
Government has already announced establishment of four IITs in Andhra Pradesh, Rajasthan, Bihar and Himachal Pradesh and one IIM at Shillong.
The location of the new higher education institutions has been approved by Prime Minister Manmohan Singh, HRD Minister Arjun Singh told reporters here.
In addition, he said the government proposed to convert the Institute of Technology of the Banaras Hindu University into an IIT. Admission to this Institute was already based on the IIT-Joint Entrance Examination.
Singh said it is also proposed to establish during the 11th five year plan period 14 Universities with world class standards and 16 universities in states which do not have a Central University at present.
While the new IITs would be located in Orissa, Madhya Pradesh (Indore), Gujarat and Punjab, the IIMs would come up in Tamil Nadu, Jammu and Kashmir, Jharkhand, Chhattisgarh (Raipur), Uttarakhand and Haryana.
These new institutions would be part of the eight IITs and seven IIMs proposed to be set up during the 11th Five Year Plan.
Government has already announced establishment of four IITs in Andhra Pradesh, Rajasthan, Bihar and Himachal Pradesh and one IIM at Shillong.
The location of the new higher education institutions has been approved by Prime Minister Manmohan Singh, HRD Minister Arjun Singh told reporters here.
In addition, he said the government proposed to convert the Institute of Technology of the Banaras Hindu University into an IIT. Admission to this Institute was already based on the IIT-Joint Entrance Examination.
Singh said it is also proposed to establish during the 11th five year plan period 14 Universities with world class standards and 16 universities in states which do not have a Central University at present.
Thursday, March 27, 2008
IIMB focuses on all-round development, says its medalists
All work and no play makes jack a dull boy. But, Indian Institute of Management, Bangalore (IIMB) makes its students work hard and also play hard, making them all-rounders was the unanimous opinion of its medalists for 2007-08.
For 23-year-old Sahil Barua, who bagged the gold medal for best all-round performance in the Post Graduate Programme (PGP), IIMB is unique because of its focus on all-round development of its students. “I do not think you could get a better peer group than this throughout the country or even abroad.”
Sahil, who plays the keyboard, guitar and was a member of the ‘TSEPAK’ (volleyball played with feet), feels the opportunities at IIMB “for a person to evolve are fantastic”. Sahil, who has received a job offer from Baine and Co. Consulting firm based out of Boston, has opted to work in their Gurgaon office as he feels “India is the place to be now”.
“It is an exciting time to be in India, the global focus is on India, salaries are good, working atmosphere is stimulating,” he said.
Son of Samir Barua, Director IIMA, Sahil has been working for a start-up Catalyst Ventures which is into micro venture capital funding for the last six months.
Amit Gupta, who did his mathematics and computing from IIT-Delhi, won the gold medal for obtaining the first rank in PGP. He opted to work for McKenzie and Co in their Gurgaon office, though he interned with Lehman Brothers in New York because he wants to give back to his country what the country has given him.
On his experience at IIMB, Amit said, “It was better than what I expected. I got to interact with a diverse age group, from people in their twenties to those in their late thirties. Opportunities here are umpteen for you to pursue co-curricular activities, which really develops you as a person.”
Abhishek Agarwal, who bagged the gold medal for securing second rank in PGP, has opted to work for Blackstone, a private equity firm based out of London and US.
“Though I have opted for the Mumbai office, the company has asked me to work in London for an year.”
“IIMB is the best place to be in as the focus is not just on studies but making you a well-rounded person, capable of facing any challenge head-on.” Abhishek, who interned with an investment banking firm, wants to be in his home country.
For 33-year-old Srisankar Swaminathan Kunniyur who has bagged the gold medal for obtaining first rank in PGSEM (Post Graduate Diploma in Software Enterprise Management) and he is working with Motorola, “The faculty in IIMB is great. It is on a par with institutes abroad. It induces you to put your best foot forward, making you an all rounder.”
Srisankar, who moved to India over three years ago after working in the US, wants to start a company of his own. “There are a lot of opportunities in India now. There is no need to go out. India is a happening place.”
For Amit Agarwal (30), who has bagged the gold medal for all rounder performance in PGSEM, is working in Infosys as chief solution manager, IIMB provided the best opportunities to evolve as a person. It is a very enriching programme.”
“I got the best support from my seniors at Infosys and also IIMB faculty,” he said. Amit, who is married, had to do quite a lot of balancing and time management since he got very less time to spend with family.
For 23-year-old Sahil Barua, who bagged the gold medal for best all-round performance in the Post Graduate Programme (PGP), IIMB is unique because of its focus on all-round development of its students. “I do not think you could get a better peer group than this throughout the country or even abroad.”
Sahil, who plays the keyboard, guitar and was a member of the ‘TSEPAK’ (volleyball played with feet), feels the opportunities at IIMB “for a person to evolve are fantastic”. Sahil, who has received a job offer from Baine and Co. Consulting firm based out of Boston, has opted to work in their Gurgaon office as he feels “India is the place to be now”.
“It is an exciting time to be in India, the global focus is on India, salaries are good, working atmosphere is stimulating,” he said.
Son of Samir Barua, Director IIMA, Sahil has been working for a start-up Catalyst Ventures which is into micro venture capital funding for the last six months.
Amit Gupta, who did his mathematics and computing from IIT-Delhi, won the gold medal for obtaining the first rank in PGP. He opted to work for McKenzie and Co in their Gurgaon office, though he interned with Lehman Brothers in New York because he wants to give back to his country what the country has given him.
On his experience at IIMB, Amit said, “It was better than what I expected. I got to interact with a diverse age group, from people in their twenties to those in their late thirties. Opportunities here are umpteen for you to pursue co-curricular activities, which really develops you as a person.”
Abhishek Agarwal, who bagged the gold medal for securing second rank in PGP, has opted to work for Blackstone, a private equity firm based out of London and US.
“Though I have opted for the Mumbai office, the company has asked me to work in London for an year.”
“IIMB is the best place to be in as the focus is not just on studies but making you a well-rounded person, capable of facing any challenge head-on.” Abhishek, who interned with an investment banking firm, wants to be in his home country.
For 33-year-old Srisankar Swaminathan Kunniyur who has bagged the gold medal for obtaining first rank in PGSEM (Post Graduate Diploma in Software Enterprise Management) and he is working with Motorola, “The faculty in IIMB is great. It is on a par with institutes abroad. It induces you to put your best foot forward, making you an all rounder.”
Srisankar, who moved to India over three years ago after working in the US, wants to start a company of his own. “There are a lot of opportunities in India now. There is no need to go out. India is a happening place.”
For Amit Agarwal (30), who has bagged the gold medal for all rounder performance in PGSEM, is working in Infosys as chief solution manager, IIMB provided the best opportunities to evolve as a person. It is a very enriching programme.”
“I got the best support from my seniors at Infosys and also IIMB faculty,” he said. Amit, who is married, had to do quite a lot of balancing and time management since he got very less time to spend with family.
Wednesday, March 26, 2008
VGSOM students receive 30 per cent higher offers
Vinod Gupta School of Management (VGSOM), IIT Kharagpur, recorded the highest domestic salary of Rs18 lakh per annum, while the average international salary offered was $70,000.
While the domestic average stood at Rs11.44 lakh per annum, the median was Rs 10.32 lakhs per annum, indicating a uniform placement performance across the batch.
With multiple offers made to students, VGSOM saw a 30 per cent increase in the average salary levels, notwithstanding the sizeable batch strength of 121 students.
Some of the roles offered were of global leadership, management consulting, investment banking, corporate planning and strategy, brand management, real-estate consulting, equity research, knowledge management, SCM consulting, treasury, risk management and product merchandising.
While the domestic average stood at Rs11.44 lakh per annum, the median was Rs 10.32 lakhs per annum, indicating a uniform placement performance across the batch.
With multiple offers made to students, VGSOM saw a 30 per cent increase in the average salary levels, notwithstanding the sizeable batch strength of 121 students.
Some of the roles offered were of global leadership, management consulting, investment banking, corporate planning and strategy, brand management, real-estate consulting, equity research, knowledge management, SCM consulting, treasury, risk management and product merchandising.
IIM-B hikes annual fee to Rs 4 lakh
The Indian Institute of Management-Bangalore has hiked the fee for post graduate programme (PGP) from the existing Rs 2.5 lakh per annum to Rs 4 lakh per annum.
The decision to hike the fee, to be effective from the next academic year, was approved by the IIM-B Board of Governors meeting chaired by Chairman Mukesh Ambani on Tuesday here.
The decision to hike the fee was long pending as the premier academic institution was subsidising the education of the students.
According to IIM-B, the institute incurred an expenditure of Rs 5 lakh per student per year whereas the fee charged was just 50 per cent of it. The balance 50 per cent of the fee was being subsidised.
All incoming PGP students will pay Rs 4 lakh for the first year and another Rs 5 lakh in the second year. “Since the cost of the education per year per student is Rs 5 lakh, there is a proposal to collect the same. The IIM-B is planning to fix the fee at Rs 5 lakh per year from the 2009 academic year,” a spokesperson of IIM-B said.
Besides, the IIM-B was failing to attract faculty due to compensations that were not on a par with the private universities. “The hiked fee will go towards the functioning of the institute, improvement of infrastructure,” the spokesperson added. Though the number of full time faculty at the institute is 120, it has fallen below 100. The institute hopes to regain its full faculty strength.
IIM-B Director Pankaj Chandra said the institute provided financial assistance amounting to Rs 91.13 lakh to 49 students during the year 2007-08. “No student will be denied an opportunity to pursue the PGP for want of financial resources. Besides the financial assistance provided by the institute, several students won awards and merit and need-based scholarships,” he said in his report at the thirty-third annual convocation of IIM-B on Friday.
He pointed out that all 266 students were successfully placed with top Indian and international firms. “In order to encourage alternative career choices, IIM-B has become the only institution to allow students to defer placement by two years. Five students have taken advantage of this flexibility to pursue other interests. Two of them are looking to start entrepreneurial ventures,” Chandra pointed out.
Amit Gupta secured the first rank in the PGP 2006-08 batch. Mukesh Ambani gave away the awards to passing out students of PGP, Fellow Programme in Management, PGP in Public Policy and Management and PG Diploma in Software Enterprise Management. In all, 424 students passed out of the IIM-B.
The decision to hike the fee, to be effective from the next academic year, was approved by the IIM-B Board of Governors meeting chaired by Chairman Mukesh Ambani on Tuesday here.
The decision to hike the fee was long pending as the premier academic institution was subsidising the education of the students.
According to IIM-B, the institute incurred an expenditure of Rs 5 lakh per student per year whereas the fee charged was just 50 per cent of it. The balance 50 per cent of the fee was being subsidised.
All incoming PGP students will pay Rs 4 lakh for the first year and another Rs 5 lakh in the second year. “Since the cost of the education per year per student is Rs 5 lakh, there is a proposal to collect the same. The IIM-B is planning to fix the fee at Rs 5 lakh per year from the 2009 academic year,” a spokesperson of IIM-B said.
Besides, the IIM-B was failing to attract faculty due to compensations that were not on a par with the private universities. “The hiked fee will go towards the functioning of the institute, improvement of infrastructure,” the spokesperson added. Though the number of full time faculty at the institute is 120, it has fallen below 100. The institute hopes to regain its full faculty strength.
IIM-B Director Pankaj Chandra said the institute provided financial assistance amounting to Rs 91.13 lakh to 49 students during the year 2007-08. “No student will be denied an opportunity to pursue the PGP for want of financial resources. Besides the financial assistance provided by the institute, several students won awards and merit and need-based scholarships,” he said in his report at the thirty-third annual convocation of IIM-B on Friday.
He pointed out that all 266 students were successfully placed with top Indian and international firms. “In order to encourage alternative career choices, IIM-B has become the only institution to allow students to defer placement by two years. Five students have taken advantage of this flexibility to pursue other interests. Two of them are looking to start entrepreneurial ventures,” Chandra pointed out.
Amit Gupta secured the first rank in the PGP 2006-08 batch. Mukesh Ambani gave away the awards to passing out students of PGP, Fellow Programme in Management, PGP in Public Policy and Management and PG Diploma in Software Enterprise Management. In all, 424 students passed out of the IIM-B.
Thursday, March 20, 2008
Executive education on the rise
As the Indian executive education market increasingly recognises the value of world-class executive education programmes and is eager to invest in the same, several Indian and foreign B-schools are gearing up to offer tailor-made courses for the industry and academia alike. Deans and professors from the best business schools are jostling for appointments with executives and companies to offer tailor-made programmes.
Institutes like IIT-Kharagpur and XLRI Jamshedpur, for instance, offer around 30 executive education courses per year. Till a few years ago, the figure was half of that. A key factor that has made B-schools flexible is that the price per programme has gone down by 60 per cent, while the bigger challenge is keeping the content relevant.
“In the face of rapid technological advancement around the globe, it is important for engineers and scientists to continue to learn new technologies, update and upgrade their knowledge, much after completing formal education in the college,” said a professor of IIT-Kharagpur.
Moreover, as an IIM-Calcutta professor pointed out: “There is a shortage of 20-40 per cent in the leadership positions across sectors. Although many companies have found internal training to be a substitute, after a point it becomes expensive.”
The seriousness with which Indian companies are taking executive education can be measured by the demand for customised programmes and partnerships with B-schools in co-designing curriculum.
And that too at competitive prices. Harvard Business School (HBS) just completed its first five-day executive education programme in Hyderabad. If a similar course was taught at the Harvard campus, it would have cost $10,000 (around Rs 400,000) upwards. However, an Indian executive gets it for as low as Rs 180,000.
At IIT-Kharagpur, XLRI Jamshedpur, and IIM Calcutta, around 200 executives take the executive education programmes every year, with course fee ranging between Rs 5,000 and Rs 35,000, while a few courses could cost up to a couple of lakhs. For example, the Danish embassy of Dhaka had sent people for a four-month management course at IIT-KGP at a cost of approximately Rs 60 lakh.
The level of importance of executive education has reached outside profit-oriented companies too. The Ranchi-based Xavier Institute of Social Service (XISS) too is in the process of drawing up a calendar of topics for training of non-government organisations (NGOs) keeping in mind the priorities of small and middle level NGOs.
“Every year we draw up a number of new courses for executives and managers as well as NGOs and social activists. These courses are either suggested by XISS or designed on requests from companies, NGOs, state government, funding agencies and other organisations,” said R K Biswas, dean of XISS.
XISS executive education courses, usually range between Rs 25,000 and Rs 50,000, and address current topics and concerns ranging from general management to specific functional areas that include human resource, rural development, information management, marketing and finance.
Institutes like IIT-Kharagpur and XLRI Jamshedpur, for instance, offer around 30 executive education courses per year. Till a few years ago, the figure was half of that. A key factor that has made B-schools flexible is that the price per programme has gone down by 60 per cent, while the bigger challenge is keeping the content relevant.
“In the face of rapid technological advancement around the globe, it is important for engineers and scientists to continue to learn new technologies, update and upgrade their knowledge, much after completing formal education in the college,” said a professor of IIT-Kharagpur.
Moreover, as an IIM-Calcutta professor pointed out: “There is a shortage of 20-40 per cent in the leadership positions across sectors. Although many companies have found internal training to be a substitute, after a point it becomes expensive.”
The seriousness with which Indian companies are taking executive education can be measured by the demand for customised programmes and partnerships with B-schools in co-designing curriculum.
And that too at competitive prices. Harvard Business School (HBS) just completed its first five-day executive education programme in Hyderabad. If a similar course was taught at the Harvard campus, it would have cost $10,000 (around Rs 400,000) upwards. However, an Indian executive gets it for as low as Rs 180,000.
At IIT-Kharagpur, XLRI Jamshedpur, and IIM Calcutta, around 200 executives take the executive education programmes every year, with course fee ranging between Rs 5,000 and Rs 35,000, while a few courses could cost up to a couple of lakhs. For example, the Danish embassy of Dhaka had sent people for a four-month management course at IIT-KGP at a cost of approximately Rs 60 lakh.
The level of importance of executive education has reached outside profit-oriented companies too. The Ranchi-based Xavier Institute of Social Service (XISS) too is in the process of drawing up a calendar of topics for training of non-government organisations (NGOs) keeping in mind the priorities of small and middle level NGOs.
“Every year we draw up a number of new courses for executives and managers as well as NGOs and social activists. These courses are either suggested by XISS or designed on requests from companies, NGOs, state government, funding agencies and other organisations,” said R K Biswas, dean of XISS.
XISS executive education courses, usually range between Rs 25,000 and Rs 50,000, and address current topics and concerns ranging from general management to specific functional areas that include human resource, rural development, information management, marketing and finance.
CIMA courses now at IIMC
The Indian Institute of Management Calcutta has entered into a collaboration with the Chartered Institute of Management Accountants (CIMA), London to establish a Centre for Management Accounting at the Indian Institute of Management Calcutta campus.
The centre will work to create and disseminate knowledge to change management accountancy practices in India and other countries.
This will also foster the inter-disciplinary research in IIMC and other academic institutions in India. A Memorandum-of-Understanding (MoU) between the two institutes has recently been signed. According to this CIMA will sponsor the Centre and a CIMA Professor of Management Accounting for an initial period of three years.
The governance of the Centre will be facilitated by the creation of a Centre Advisory Board.
The board will have a chair person, who will be a person nominated normally by CIMA and IIMC by rotation and approved by the other partner.
The centre would hold conferences and seminars on a regular basis, at least once a year.
CIMA will arrange to pay the travel cost of foreign experts, who will speak at the annual conference to be organised by the Centre. IIMC will undertake the research to act as an Academic Host to the Centre.
The scope of the research is international and will include investigations relating to the professional development of management accountants throughout their careers as well as other contemporary issues linked to CIMA’s Centre of Excellence based at the University of Bath School of Management in the UK.
IIMC and CIMA will publish results arising from the research and organise internal seminars for students to encourage this.
The centre will work to create and disseminate knowledge to change management accountancy practices in India and other countries.
This will also foster the inter-disciplinary research in IIMC and other academic institutions in India. A Memorandum-of-Understanding (MoU) between the two institutes has recently been signed. According to this CIMA will sponsor the Centre and a CIMA Professor of Management Accounting for an initial period of three years.
The governance of the Centre will be facilitated by the creation of a Centre Advisory Board.
The board will have a chair person, who will be a person nominated normally by CIMA and IIMC by rotation and approved by the other partner.
The centre would hold conferences and seminars on a regular basis, at least once a year.
CIMA will arrange to pay the travel cost of foreign experts, who will speak at the annual conference to be organised by the Centre. IIMC will undertake the research to act as an Academic Host to the Centre.
The scope of the research is international and will include investigations relating to the professional development of management accountants throughout their careers as well as other contemporary issues linked to CIMA’s Centre of Excellence based at the University of Bath School of Management in the UK.
IIMC and CIMA will publish results arising from the research and organise internal seminars for students to encourage this.
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