Hi All, Just create an opinion about the answers of the following questions in your mind:
- Earning the money and enjoy a stable life or,
2. What is the reason that now a days students prefer MBA over other financial degrees like CA or CS in the field of finance??
- Is there better learning in MBA or,
- There are higher paying jobs offered to MBA’s by financial offshoring units.
3. Why?? does a majority of Financial students Join Offshoring unit of an International Investment bank rather than -
1. What is the motive of a student joining a B-School to do MBA in Finance??
- Earning the money and enjoy a stable life or,
- Learning finance.
2. What is the reason that now a days students prefer MBA over other financial degrees like CA or CS in the field of finance??
- Is there better learning in MBA or,
- There are higher paying jobs offered to MBA’s by financial offshoring units.
3. Why?? does a majority of Financial students Join Offshoring unit of an International Investment bank rather than -
- Join an Indian Financial Services Company or,
- Join Financial Department of an Indian corporate.
- Becoming an entrepreneur exploring some new ideas.
It’s agreeable that financial offshoring is helping India to improve its employment rate, but what about the quality of that employment? The balance between the money and knowledge is missing~~
Post graduation has become a fashion. B-schools are working like employment exchanges. That’s reason that B-schools are adding more and more siblings. Prime reason for this is MBA’s are getting better salaries from offshore units, which is diverting new generation to select MBA Over other financial degrees like CA or CS.
Innovation, creativity, entrepreneurship are making an exit from the minds of youngsters. Selection of B-School is done on the basis of highest packages offered during their placement seasons.
Indian Talent is hired by these big off shoring units at a salary which is most of the times higher than the salary offered by Indian employers. This has two effects:
· Indian financial sector is not getting the services of talented individuals.
· Higher dependency on employments offered by International banks.
This will serve a major setback to India when the USA financial system will crash, which is more like a cheat fund company and will crash sooner or later. We will not only affect out lives but we will be left only with a derelict mind of youngistannnn!
Best of Luck!
Regards Suraj!
Nice to find you also becoming a blogger. Looking forward to more intriguing blogs from ur end!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteWow... good to see you blogging... very truly written blog... keep it up... looking forward to read many more from you... All the best...
ReplyDeletenice one Surajwa :)just to add one more perspective..
ReplyDeleteOn the brighter side, some guys leave out such jobs n setup indian firms...so perhaps, it does help some get a gud headstart by joining such firms n bring some learnings into indian mkts too..
Nice thought though..gets us all to keep thinking..Keep Writing :)
This comment has been removed by the author.
ReplyDeletelolz, n just to avoid the confusiong suraj, it's Omkar = 89 , above..
ReplyDeleteI agree Omi!! such type of guys are very less! we want more of it...but i agree lot of people pursuing it... infact India Bulls is one of the best example of that!
ReplyDeletethanks vishal!
ReplyDeletehi suraj.
ReplyDeleteFor those international firms, the cost is still very low when compare to what they have to pay to their home talent. So, its kinda win-win situation for the parties. But, its mismatch of demand and supply of talent.
Good thoughts..
Huge money on offer for traders when US fails tough..Every cloud has a silver lining..
Punit..
HI puneet!
ReplyDeleteI agree that from traders point of view its a win-win situation.. but the perecentage of foreign market traders in India as compared to total professionals is still very low!
Its really nice to hear from you !
AALL IZZ WELL
ReplyDeleteAshish
Wah Wah!!!
ReplyDeletemast..nicely put ..they say- A picture is worth a thousand words..! 2.5 years of frustness puked out..! :)
ReplyDeletesuraj,
ReplyDeleteInsighting and ground reality ...
you used all you learnt(diagrams, presentaion) in MBA in the process of downplaying what MBA is doing.
Love to hear more from u
Sid
My thought process goes like this: social respect, family circle recognition, wedding decision all gets firmed by the bank balance more than the knowledge balance. Which balance is important depends on an individual, i am sure that immortal souls like you will go for the latter one.
ReplyDeleteKeep posting your insights.- Suresh
@Suresh: Money is the outcome of knowledge... It will be obviously come to u if knowledge is there ... but not vice versa... Nice to hear from u!
ReplyDeleteyou've raised a common perspective here..i just feel one of d reasons ppl choose international companies is the exposure..to knowledge and scale..indian firms will take time and for a graduate to think abt gettin d best in his prime is justified..
ReplyDeletethough I hv to agree it is a perspective that will eventually prevail..
and just one thing..despite all setbacks I think sayin that US system is bound to collapse is a v strong statement..
Hey nice thoughts!! Your blog is like opinion column in some business magazine... U have potential to be a good writer!!!
ReplyDeleteWell done rather congrats for the blog :)
ReplyDeleteTheme is need of the hour and view is honest. Hopefully,in the next post, would get to know the solution to this emerging so called crisis?
Sushrut
Thnx sirji! definetly will try!
ReplyDeleteNice thougth.. Good to see you blogging! Hope to hear more from you more often.
ReplyDeleteRohit
Hey Suraj, nice to see you blogging.
ReplyDeleteAlso, you have raised a genuine issue.
I think this problem is a structural and a complicated one.
I agree that youngsters nowadays have a lower risk appetite and as a result are less enrepreneurial. And I think that is mostly because once they are out of b-school, (most of which are just for the namesake anyways) they have an option for working in the offshoring industry which offers LOW risk and HIGH returns-atleast in the short to medium term. And that is too tempting to let go for most of us.
However, I also believe that though there is a lower % of entrepreneurs now, the new indian firms are bigger and offer more white collar jobs (which we all want) as compared to the firms of the previous generations. And this I think is a result of globalisation and the past experience our entrepreneurs have gained in these very outsourcing and global companies.
But I agree our generation needs more entrpreneurs to be able to provide jobs to the growing population. Only question is- Who is ready to take the chance?
Anyways.. nice thoughts and will follow this space closely.
Regards,
Chirag
very crucial points chirag and this is the new challenge for Indian Financial Industry!
ReplyDeleteNice to hear from u!
Suraj
Gud keep it up
ReplyDeletePost some similar blog
Its the truth....But anywez it depends on us how we take things..... Keep posting such blog my bro....Shekhar
ReplyDeleteTechinal Cheez hain bhai.....2007 ppt be use kiya kya? ;) Nice
ReplyDeletesuraj no doubt MBA is good but dear one of my friends cleared ca final may 2007 with rank n cs with rank may 2008 and his salary is over 20 lakhs p.a.now..what matters is how well u do the things..get rank in ca final join HUL/P&G u will earn much more than any b-school grads including IIMs
ReplyDeletePlease mentione your name!
ReplyDeleteBut U r rght, CA's are always gr8ly demanded in India. And I agree to your point.
i beg to differ here....i thnk wt we need 2 consider is d average salary...ofcourse d exceptions are dere n P&G n HUL are r couple of dose exceptions which pay whoopingly high salaries to a ca n 2 bcoz dey recruit d best of CA's in India...2-4 evry year or even less at times which is much less as compared 2 dere MBA recruits...so even though the demand is dere, will to pay more is still missing.
ReplyDeletehere i want to say the real thing..Almost all IIM grads say even after spending 2 years in IIM their skill remains the same(analysis power)..it is not that they after reading in IIMs becomes super power..what changes is they become more sincere,becomes master in time management..Nevertheless IIMs stress on latest environment but poor ICAI never thinks beyond publishing RTPs,suggested answers..no doubt all CAs r not good..but we must try to achive great heights whatever we do CA or MBA..but suraj ur achivement is also good.. cleared ca final in may 2007 when the pass % was very low even though u were studying regularly in SCMHRD..i guess with focus anything possible...my friend prince rank 1 may 2007 took just 2 weeks leave and got rank 6 in cs final he's above many IIMs grads..completed CFA too..working in hul..
ReplyDeleteThnx buddy!But I don't know who u r?
ReplyDeletewell i too ca plus cs..but i think name does not matter but we can keep sharing thoughts which r super real n which can make a difference to our life n the society..but can u plz tell where u learned more while doing CA or MBA from SCMHRD?
ReplyDeletei guess if u live everyday like a D-day there's no stopping..even an average ones will be called xtraordinary..:)
ReplyDeleteHey! Its always some different learning at different places! CA developes in u a gud knowledge seeker and MBA a gud knowledge user.
ReplyDeleteIt would be gr8 if all rght there name below there comments!
u may be right suraj but i see every case individually case to case basis..requirements to excel in functional area of finance ..analytical skill,very high presence of mind n not get bogged down by pressure..neither IIMs nor ICAI will help u in this front ..myself seen Dump CAs n idiot MBA even from top b-school grad..this is my perception..but certainly after ca/cs one can spend 1-2 years in MBA only top 10-15 colleges that will hone u in presentation skills,communication..
ReplyDeleteCertainly None of institute can teach u everythng, but definetly this institutes give u a base to hone up your skill further!
ReplyDeletejust want to know suraj did u get any rank in ca final may 2007?
ReplyDeleteNo!
ReplyDeleteagree to ankit that what matters average salary..i think even welingkar MBA pass out out may give blow to average salary of CAs coz institue exam is only tough n fails to consider what new skills n how to train CAs according to industry requirements as not even 10% do practice after CA..institute should train students as in MBA..ICAI really loosing ground
ReplyDeleteI feel that ICAI can't accept all responsibility of teaching CA's.. Students pursuing CA's are so much busy with there books never give themselves opportunity to njoy a balance between study nd other professional aspects. and same even during there articaleship.... I have experienced both as I have passed through a lyf of MBA as well as a CA.
ReplyDeleteNote: Please put your name after each of your comments.
ICAI should conduct CAt like exam take say 1000 or so students provide them work ex oppotunity,introduce classroon teaching,let students clear CA exam in exact time coz some take years to pass.ICAI need alot of changes.
ReplyDeleteU written nowadayd studenrs prefering MBAs than CAs/CSs i'm not agreed.Those who have taken commerce in most of the case try hands on CA/CS coz u do it after class 12.Unless you are exceptional only those do b.com prepare for CAT n go to IIMS.Mehul agrawal scored 99.98 percentile in CAT 2006 taken commerce but did not taken CA/CS because he was exceptional student of calcuuta ST.xaviers.
ReplyDelete@Suraj LAkhotia@ - Congrats for your acheivements. And I absolutely agree with your attitude regarding learning. it is not dependent on Brands or tutions...
ReplyDelete@Sumit@ - You are rght, but this applies mostly in Calcutta... but in other citites appearence for MBA is far higher than CA. Also as CA is very tough as compared to doing MBA from some ok type institutes.
And I must say passing a CA is not easier than getting admission in best B-Schools.
well suraj when u say CA is tough then ok types MBA institues i'm agreed.When u say passing CA is not easier than admission in best b-school is some what open to debate.I believe best minds most of the times join IIT/NIT.Exceptionals may be some students of SRCC/ST Xaviers.Most of the times CA students r just an average(except rank holders) so find it difficult to clear ca final.Never saw any students in my life who made it to top 10-15 MBA institues n failed in any attempt of CA.I think IIM-A/B/C Grads r exceptionals might not be fair for me to compare CA with it.But u must agree there r some rank holders n Some 1st attempt CAs who do not get what they deserve in market.Lastly,i think in this world what u get is not directly related to the skills u posses or degree u've.
ReplyDeleteconclusion for best top 10-15 MBA institutes u require very high analytical skill but to crack CA even average intelligence is enough must very discipline is required to crack final lap of CA.
Its opinion based facts....
ReplyDeleteIn true sense study follows gr8 mind and not vice versa... its gr8 for u till now.. and I wish u can go further to new heights.~~ Where r u working rght now?
ReplyDeleteok... that's good.
ReplyDeleteWell i completely agree with u that MBA taking over.I'm alumnus of IIM-A.I had stint with goldman sachs new york over a year.I quit GS to help people n cracked IAS with AIR 40.At present i'm IAS probationer.I think doing anything with perfection is the need of the hour.I could have earned more money by continuing with GS but u must be satisfied with what u r doing.
ReplyDeletesuraj lakh - its impressive...
ReplyDeletekarthikeya - its really great that u are doing what u want...bravo.
i think CA is not so easy especially when i see 2009 results n now may 2010 rsult..this time result is even lower than that of may 2007 n just 3 %..my juniors r crying coz in year 2006 the pass % was very high n now even good students failed to clear it..ICAI is mad thats why even not so good MBA grads salary is higer that of CAs..CA exam is a big joke..CAt like entrance exam should come now.....i'm both CA n CS n i think ICSI is better than ICAI.....u r true when u say MBA gaining importance..ICAI takes 50000 students in a year through CPT/CA PE 1 n cleared not even 2000 CAs in year-may 2010 results.........ICAI is a factory to earn money....though i cleared ca final in 1st attempt some my juniros who r much more deserving failing again n again...its time icai learn some thing .....
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteIs it so?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThanks for removing the comments. And I did not mean to offend you.
ReplyDelete