Job stability lures B school grads to PSUs
Job stability is attracting an increasing number of B-school graduates belonging to smaller towns to leave aside lucrative salaries in private sector and opt for a career in public sector enterprises.business Updated: Oct 21, 2007 20:21 IST
Job stability is attracting an increasing number of B-school graduates belonging to smaller towns to leave aside lucrative salaries in private sector and opt for a career in public sector enterprises (PSE), industry body Assocham said.
Assocham said that emerging trends suggest that students with superior intellect are getting into private sector at the cost of PSUs and also indicated that government-owned companies need to get out of their regulated administrative and working systems.
The chamber surveyed 500 students of which 300 were from tier II cities and 200 from metros for the survey.
As many as 85 per cent of students in tier II cities such as Ghaziabad, Lucknow, Chandigarh, Dehra Dun, Jaipur, Indore, Kochi, Chennai, Hyderabad and Pune said that their first choice would be to join schedule A PSUs.
Remaining 15 per cent, however, evinced interest in joining government through Union Public Service Commission (UPSC). They were of the view that their business school background would give them an edge for preparing competitive examinations at All India level.
In metros, however, B school graduates were more interested in working for corporate sector.
Students from metros are choosing corporate sector over PSUs because of skyrocketing salaries and lack of patience to rise to the top management positions, Assocham said.
As many as 90 per cent of students in metros such as Delhi, Bangalore, Kolkata, Mumbai had this to argue, adding that leading corporates not only give them a culture which is so challenging and full of excitement for monetary considerations, besides exposure part which is not available with PSUs.