8/15/14 More than 65 per cent of business school graduates preferred to work government companies compared to private companies, a survey of over 500 students from various B-schools, including IIMs, BITS, ICFAI Business School and Symbiosis Institute of International Business (Pune) found.
The ASSOCHAM survey conducted between June and July 2014; found that, the graduates are flocking to topline public sector companies due to job security, improving prospects of firms and headwinds faced by the private sector, especially those in the highly leveraged sectors like telecom, real estate, power and other infrastructure.
The number of intakes by the PSUs from the B-Schools, more so those outside the IIMs, has gone up by 160% this season over last year, said Mr. D. S Rawat, Secretary General ASSOCHAM while releasing its paper on “PSUs back in reckoning”.
The paper further highlights, “there is a big increase in the demand for jobs in public sector undertaking (PSUs) this year. The number of job applicants for such jobs has increased by over 160% this year. Also, there is a steep rise in the management trainee jobs in public sector in the last one year (120%).
The survey finding is considered very surprising as government company jobs pay 30-50% of what private companies pay. It was assumed that, with increasing education and exposure, Indians would want to consider entrepreneurship as a viable career option.
However, going by the survey, MBAs don’t want to start their own company, or even work in a private company where rewards, promotions and salary tend to be proportionate to merit and hardwork. Instead, they want to work in government sector companies that have fixed increments and where employees cannot be fired easily even if they are unproductive.
Click here to view the rest of the article via 65% of MBAs want a job in Government company – Survey | REAL TIME NEWS.