Students' corner

Dear Students,

LAST WEEK WE ASKED:  Do you think job scene this year will be good?


BEST RESPONSE

The job scene will surely improve by end of this quarter, as by looking at recent figures on GDP growth from 5.3 to 5.5 per cent in the previous quarter, can be seen as a positive sign. Even in US, the unemployability rate fell for the present quarter. As our domestic market itself have high consumption levels, so global slowdown will not affect Indian Inc. much. Till now, no hive-offs are seen in our corporates , so a slightest further improvement and stability in the economy will surely create quantum in jobs opportunities by the end of the quarter.
- Monil Shah, Fr. C. Rodrigues Institute of Management Studies, Mumbai.


OTHER RESPONSES:


In the middle of glum economic mood, the job market for professionals in healthcare, hospitality, IT & ITeS and media & entertainment is growing 20-25 per cent and expected to create 1.6 million new jobs in current financial year. Healthcare sector is the one of largest service sector in the country. On the other hand, domestic tourism is on the upswings and expected to make 3,50000 new jobs and pre-placement offers in major management institutes. All these statistics show current year job scene will be good instead steep declining in some sector like aviation, real estate and textile sector.
- Rohit Dwivedi, Gautam Buddha University, Greater Noida.


The economic condition this year causes deep concern about the job scenario this year. Economy which is already burdened with inflation will be further pressurized by the lack of rain fall this year and thus the subsequent drop in GDP will be inevitable. Companies would try as to save their costs rather than blow it by bringing in larger workforce. Companies are expected maintain restrain this time around. As they always say ‘The future prospects look good’ but the present doesn't look too good.
- Shankarnath Nair, Amrut Mody School of Management, Ahmedabad.


I would like to believe that the many more job opportunities will be there for students graduating this year but the facts state otherwise.The global downturn and lack of Indian political will makes it very difficult for companies to sustain their current workforce forget about adding more resources.The depreciating rupee, lowering ratings and decreasing FDIs add to the woes.Still India is the second fastest growing economy but the rate has slowed a lot which will also impact the job market severely.
- Rajeev Upadhyay, NITIE Management.


There is hope that economic condition will improve and people will be able to retain their jobs.Companies will try to retain the best of talents.Employability will be the key factor.Therefore in the current
market scenario,only the best people will get the jobs.
- Rituparna Saha Ray, Fr. Conceicao Rodrigues Institute of Management Studies. Navi Mumbai.


It would be difficult to see job scenario going above average as the economy of entire world is currently disturbed due to the recent euro zone crisis. And all the countries in the world are interdependent on each other so a downfall in one part of the world is bound to affect the others equally. Thus, given to the fact that present situation poses grim picture for the freshers entering the job market. But those graduating from top 10 colleges are far from being influenced by any sort of crisis it is the remaining bulk of students who feel the impact of economic instability.
- Shivam Chhabra, Integral University, Lucknow.


Looking at the current scenario of unstable government, increasing national – international scams and global recession, these surely play a vital role in the interrogation of the job scenario. Today, there are no much opportunities in the corporate world vis a vis human resource available in the market. As a result, nation faces frictional unemployment or temporary unemployment. Moreover, the existing employed workforce faces tough competition from within as well as outside world.
- Manan Jayesh Vora, Institute of Chartered Accountants of India (ICAI), Mumbai.


The traditional industries like automobiles, healthcare, and education will indicate potent hiring this year. But because of euro zone crises the hiring in financial services and IT related industry will be affected. Overall as India recruitment market is comparatively unaffected by global fluctuations mainly due to a strong domestic market, the overall hiring will increase and attrition will come down.
- Nilaya Mitash Shanker, Indian Institute of Technology, Roorkee.


As far as the job market in India is concerned, things seem to be quite well as India continues to create many more jobs with each passing year. With intense competition and demands of a fast growing economy, professionals are spoilt for choice and often change jobs as soon as they have a better offer. Despite the global economic slow-down and drop in industrial production, the job market looks somewhat positive. With new reforms being introduced and huge domestic market, FDI is on the rise and most MNCs now have plans to enter the Indian market.
- Aparna Nagarajan, Xavier Institute of Management and Entrepreneurship, Bangalore.


Jobs are not going to come by easily this year. Companies are assessing the global business pulse and are yet to decide how they want to go about it. Most likely there will be late start of the hiring season which may peak in January or February 2013. Overall the hiring is expected to be bearish some are even of the view that this year is going to be worse than recession hit 2009! Any optimistic development in domestic markets or euro zone could have a positive impact on hiring but that is highly unlikely in such a short term.
- Arunansu Kumar, Xavier Institute of Management and Entrepreneurship, Bangalore.


A fall in the GDP of the Indian economy, decline in the rupee value, bearish financial markets, poor economic reforms and myriad other factors would encourage a person to believe that the job markets this year would be in a sorry state. However what he may not realise is that despite all these factors, the Indian economy has been growing, and talent forms the basis that will help sustain this growth. Companies may be cautious while hiring the candidates but optimism still prevails in the job market. However, though the condition of the job market in India will find some respite, big ticket hikes may be a distant dream this year.
- Sachin Advani, Fr. C. Rodrigues Institute of Management Studies, Mumbai.

Inflation, disability and ability to lack for employment does impact upon unemployment in the short term because of the rate of inflation is in double digit which is leading to a period of time when unemployment rises. According to Friedman's theory, popular in the 80's, higher inflation leads to higher unemployment, since higher inflation tends to be associated with more inflation volatility and greater inflation uncertainty. Similarly, disinflation has exactly the same result significantly increasing economic uncertainty and acting as an incentive in failing to spend money, leading to decreased consumption and increased unemployment with an ineffective employable person.
- Prasenjit Ghosh, Unitedworld School of Business, Ahmedabad.


There are only four parameters needed to work in a corporate setting namely, commitment, honesty, punctuality and hard work. The job scenario will ultimately be based on the Indian economy. But if every one works with these four parameters, then the economy itself can grow in double digits. Hence, those who want to hard work the job scene will be always good.
- Gunjan Talsania, St Kabir Institute of Professional Studies, Ahmedabad.


The year 2008-09 was the worst scene for hiring where the companies kept the bench staff only and deferred campus hiring for better cost management. And since 2010 companies have been cautious in their strategies, avoiding attrition and pink slips. But this year the hiring scenario looks bright for engineering services, automobile, education, pharmaceuticals, health care and FMCG and their will also be salary hikes in the range 10-15 per cent depending on management level. Also attrition level may come down this year to retain employees.  
- Saroj Sawant, Fr C. Rodrigues Institute of Management Studies (FCRIMS), Vashi.


Some factors like stagflation, lowered credit ratings, fluctuating global economies are not allowing Indian economy to grow. But growing sectors like Retail, FMCG, health & care, financial services etc will keep the overall economy on positive side. This suggests that growing sectors will attract higher entry level jobs. Companies wanting to make space in Indian economy will obviously create equal number of vacancies. Lack of jobs at sub-senior and senior level is predicted due to the cost factors. Therefore, companies with caution will recruit at their optimum level. Hence to my opinion job scenario will be good, if not better.
- Harshita Bhalla, Fr. C. Rodrigues Institute of Management Studies, Mumbai (2011-13)


The job market reflects the health of economy and exhibits the macro-economic fundamentals of the economy. Looking at the current situation, it seems the growth pattern has subdued and companies are not gung-ho about going overboard, however they are cautiously treading ahead to prepare for the good days. Weakening rupee and lax governmental attitude towards investment and reforms, is repealing the positive investors from India. Although, India has been affected by external factors which call for structural adjustments, India growth story is still intact but hiring seems to be conservative to sustain the capacity building programs of corporate.
- Tapan Jain, BK School of Business Management, Ahmedabad.


India's IT firms, which hired approximately 150,000 students from campuses last year, will be hiring much less during this placement season, starting August-September. IT firms have decided to go off-campus this year. On the other hand automobile industry is at boom, so some kind of openings can be expected from that. Google and Facebook are also coming up in Bangalore, so there is also a hope of opportunities for freshers. In general it can be said job scenario for candidates with work experience is good, but freshers will have to struggle.
- Eshita Vardawat, Fr. C. Rodrigues Institute of Management Studies, Vashi.

 
The recent slowdown in GDP, sales growth and an uncertainty in the global market is always a hot cake for the company to decide whether it should recruit new sales force or give a brown box to its existing employees. These all factors will lead to a decline in the generation of job opportunities among corporate. In spite of uncertain clouds of job market, the fresher will have to upgrade its skill so that it can fit in the uncertain job market.
- Harsh Mehta, St Kabir Institute of Professional Studies, Ahmedabad.


India is one of the fastest growing nations of the world. With huge domestic market, foreign direct investments on the rise and more multinational companies planning to enter the Indian market, we can expect the job market to soar to greater heights in near future. Also, the local companies which have been performing well in the recent years add to the existing opportunities. I believe this year is going to be great for well-qualified professionals.
- Siddharth Agarwal, Department of Management Studies, IIT Madras.


Your responses should reach us at edu@business-standard.com by Monday evening every week. Please ensure that your responses do not exceed 100 words. Avoid attachments and email your full name, institute's name, batch and complete mailing address. The student who gives the 'Best Response' will be awarded Rs 500.
 
THIS WEEK'S QUESTION:  Do you think Indian institutes should push research activities on campus on their own rather than waiting for government policies for any such measure?