IIM-A moves up in The Economist MBA ranking

 

The Indian Institute of Management, Ahmedabad (IIM-A) on Friday said it has been ranked 56th globally in The Economist full-time MBA programmes ranking 2012, moving up from the 78th position last year.

The Institute has made it to the 5th position in the Asia and Australasia 2012 regional rankings, moving up from 9th position last year.

IIM-A is the only Indian B-school to get ranked in the The Economist full-time MBA programmes since the last three years, according to a release.

Read the full article here: http://www.thehindubusinessline.com/news/education/article3969002.ece

Top Careers for Finance MBAs

Finance -- the sector most battered by the global meltdown -- is making a comeback. News streaming in from top B-school campuses such as the IIMs talks of finance positions once again claiming their place in the sun. Financial heavyweights are flexing their muscles once again on Day Zero. Names currently doing the rounds are Morgan Stanley, JP Morgan Chase, Credit Suisse, UBS, HSBC, RBS, Barclays, Bank of America -- Merrill Lynch, Nomura and many more.
Although a lot of us may want to take advantage of this, a lot of questions may also arise in our mind.
What are the roles these financial companies offer? What is the meaning of all the perplexing finance positions in these companies? What does one do exactly? What is the skill set required? How much does one get paid?
Finance as a career option is a very wide term. In a survey by an education portal, it was pointed out that over 75 per cent students took finance purely because they felt that it paid the most. That shows one thing: mostly students and job-seekers find who opt for this specialisation do not know what they are getting into.
This is an attempt to simplify some of the financial career options students should look at when contemplating a career in finance.
1. Private equity: The role of private equity is to raise funds from large investors and invest the money directly into businesses. The usual manner is to raise money from overseas investors and then find businesses in the growth stage. Most private equity funds 'exit' the investment after a period of time by selling their holding in the business to some other investors or doing an initial public offering of the shares of the business.
2.Investment Banking: Investment banking comprises two major businesses. One is the advisory/ corporate finance role which entails mergers and acquisitions. This would entail understanding valuations, finding targets, negotiation and compliance with legal regulations. The second role is what is more popularly called equity capital markets role. This entails helping corporates raise funds from investors or the public. So it may entail working on IPOs or Institutional Offerings.
3. Fund Management:
As a fund manager, one is an important decision-maker typically at a mutual fund. The fund manager has a good overall understanding of the macro factors which affect the markets as well as the micro factors about which company to invest in. He invests money in stock market, debt market, directly into companies, etc depending upon his fund mandate.
4. Equity Research & Sales: The role of equity research is to find out the correct value of the stock which is trading on the stock exchange doing various types of research namely fundamental and technical analysis. There are two types of ERs though. One is the sell-side research which belongs to a brokerage, the aim is to do research and sell investment ideas to investors so as to earn commission on trading by the investor. The second is buy-side research, which is a part of usually a buy side fund like a mutual fund. They analyse the research results of various brokerages in addition to their own research on investment ideas for the fund manager.
5. Project Finance & Debt Syndication: This role entails arranging for long-term finance for infrastructure and industrial projects which will take a long time to pay back. The first step is to understand the project, conduct a feasibility study, risk assessment and a detailed financial model. This is done with the purpose to rope in equity partners (known as sponsors) and lenders. Generally the lending part is done by multiple banks under leadership of the syndicate bank.
6. Financial Risk Management: Financial risk management is the practice of creating economic value in a firm by using financial instruments to manage exposure to risk, particularly credit risk and market risk. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them. Financial risk management can be qualitative and quantitative. As a specialisation of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk. In the banking sector worldwide, the Basel Accords are generally adopted by internationally active banks for tracking, reporting and exposing operational, credit and market risks
7. Corporate Finance: This role entails the entire plethora of banking services required by corporates. Corporate can be divided into largely two sections Large Corporates and MSME which is Medium and Small enterprises. A corporate banker would thus have companies as his clients and service them. Within corporate banking some of the departments are:
•Credit Borrowing to companies for their expansion and working capital requirements. Would entail doing a credit evaluation on the company and sanctioning the loan
•Treasury Help companies manage various types of risks such as foreign exchange, interest rate fluctuations. Treasuries also take proprietary positions to make profit in the 'forex' and bond markets.
•Cash Management Solutions: As most companies have a large number of customers, distributors or branch offices across the country it becomes a huge challenge to deal in money. Banks offer cash management solutions to help streamline this entire operation for its corporate customers.
8. Wealth Management: Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services. High net worth individuals, small business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management.
Wealth managers can be independent, certified financial planners. One must already have accumulated a significant amount of wealth for wealth management strategies to be effective. Wealth management can be provided by banks, brokerages, independent financial advisers or multi-licensed portfolio managers whose services are designed to focus on high-net worth customers.
The fallout of the events of 2008 has produced a high level of skepticism and distrust among investors, and they will demand greater transparency from their providers to understand what they own, the value of their investments and associated risks.

9. Retail Banking: Also known as consumer banking, it entails dealing with products / services for individual customers. So the scope encompasses getting business for products such as credit cards, savings accounts, personal loans and auto loans. Operational roles would entail teller, authorising, clearing, remittances and customer service.
10. Corporate Finance: A career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for its financial future and manage any cash on hand. You might work for a large multinational company or a smaller player with high growth prospects.
The job of the financial officer is to create value for a company. As a corporate finance professional one is typicall involved in four main activities to meet its objectives: 1) designing, implementing and monitoring financial policies, 2) planning and executing the financing programme, 3) managing cash resources, and 4) interfacing with the financial community and investors.
Jobs in corporate finance are also relatively stable. Performance in these jobs counts, but your job is not going to depend on whether you're selling enough this week or getting good deals finished this quarter. Rather the key to performing well in corporate finance is to work with a long view of what's going to make your company successful. Many would argue that corporate finance jobs are the most desirable in the entire field of finance. Some of the benefits of working in corporate finance are:
•You generally work in teams which help you work with people
•It's a lot of fun to tackle business problems that really matter
•You'll have many opportunities to travel and meet people and
•The pay in corporate finance is generally quite good
Thus, a budding financial wiz should look at understanding which area interests him/her the most and build skill sets which can help take the leap into financial sector.

5 tips on how to ace your B-school interview

So the entrance tests are done with, and the preparation for the group discussion-personal interview phase has begun. Most candidates wonder why a group discussion/interview is even necessary after they have managed to pass the gruelling exams. The common sentiment is that after clearing the hurdles of a tough examination like the CAT or XAT, the interview sessions and group discussions simply add to the burden. But the fact remains that a written examination can only test the academic capabilities of a candidate. The group discussions and interviews on the other hand are more like assessment tools that help the interviewers find the qualities that they are searching for in an ideal candidate.
 Personal interviews can help candidates too however. They present a platform where the candidate can elaborate on his / her candidature. S/he can put forward various points that he or she might have missed in the application.
Remember, the interviewers look forward to meeting some of the best minds in the country; so make sure you are one of them. Here are some tips to help you ace your B-school interview:
Make a positive first impression
The first impression has to be good -- so make sure you dress well. One should go for conservative business attire. Flashy dresses, dirty nails or unkempt hair are to be avoided. If you happen to be wearing a party outfit, the board might think that you lack focus about your career. A casual attitude can ruin everything.
Be punctual
Punctuality is a virtue that is never wasted. If you are not on time, you cannot expect the interview panel to believe that you can manage all the work timings, deadlines and meetings that MBA students and professionals have to handle. In case there is a genuine cause, you should be apologetic. People on the board are not unfair and they will understand. But the reasons should be valid. Silly reasons like the betrayal of alarm clock or traffic jams are to be avoided if you want to make a positive impression on the board.
Stay focused, be confident
Different interviewers look for different things is a prospective student but one thing that is common to all is the search for emotional maturity. The candidate is standing on the threshold of a career that will need him or her to take firm decisions. Taking these decisions will not be easy, but a good manager should rarely lose his or her cool. Likewise, a good candidate should not lose his focus or his cool during the interview even though he is under a lot of pressure. The interviewers will mark you on different points and one of them is the way you handle stress.
Do your homework
During the selection procedure, the admission committee is sure to why the candidate has chosen to study in that particular school. So make sure you read about the school and its programme so you are prepared for this question and will be able to give a well thought out answer.
Communication is key
An ideal candidate must have clarity of thought when they are communicating something to the interview board.
Unfocused candidates often lose track of their argument and end up irritating the interviewer(s). The interviewer will look for confidence and alertness in a prospective student. They also assess candidates on the way they present their arguments. If you can articulate your thoughts in a concise and crisp manner, the interview board will appreciate it.
Like yoru verbal communication, positive body language will be appreciated. Things that should be avoided include bad eye contact, bone crushing handshakes or playing with finger rings. These are distractions that the interview board will not like.
When you prepare for the interview, you should also prepare to learn from unusual sources. No knowledge can go wasted. Before you say anything, take a second or two to reflect on your words. This will help.

How to Select the Best MBA College? Know MBA School Rankings

There are probably thousands of MBA colleges if you consider the whole subcontinent. And with all these colleges, you will have thousands of MBA programs to choose from. This has made it really difficult for a student to choose the right college. So, what are the factors you need to keep in mind before you select the right college? Knowing the MBA school rankings is a must and apart from that one needs to know on what parameters these rankings are based. Here are a few pointers...
The accreditation of the college matters a lot and is one of the prime factors which determine MBA school rankings. The accreditation is a kind of certification which is being given by the senior management of other schools and a team of professional assessors who are specially employed for the job. A college with accreditation must meet the prescribed academic standard set by the professional assessors. If the college is not accredited, it is better not to enroll for the course.
The college faculty is equally important. They are not just teachers but are the ones who will guide you in the path of your career. Teachers in MBA schools are like counselors or guides who will help you to identify your weaknesses and strengths, and direct you towards your goal. The college which is known to have qualified professors will be undoubtedly the best choice. Check out the quality of professors especially in the field where you want to specialize. For instance if you want to specialize in marketing, take note of the professors who will teach you the subject. They should be experts in their fields.
Some factors like the location of the college also matters for the students and is a determining factor in MBA school rankings. There are students who would not like to travel thousands of miles and stay apart from their family. A college in a convenient location can be good for both such parents and their children. However keep in mind that location is often a secondary factor, while things like college faculty and accreditation are given primary importance in the selection process. If you are leaving your home for the first time to lead a life in hostel, you should be extra cautious. The reputation of the college is also important.
You will be leaving home to make a successful career. So you need to choose only the best, which means that you should be discerning about the reputation of the college and the importance of the degree which you will receive. This is directly related to the quality of education imparted in the institution. It is better to do your own research work about the college, the kind of courses offered and if the degree offered by the college is considered prestigious in the corporate world. The ultimate goal of every MBA student is to get a good placement. It is the brand value of the institute which actually helps to determine the kind of placements you will be getting, and the kind of companies which will come to hire you. The best companies of the world will like to hire the best minds in the industry-so make sure you go to an institution which makes you one of the best.
You should also consider the performance of the college before taking admission. Check out their previous year's placement statistics. Also find out if they have a suitable academic corporate interface as it will allow you to be in touch with the current needs of the corporate world. Visit the college as brochures and websites can often be misleading. Take you time but take a wise decision while selecting the right college.

Is Work Experience Essential for MBA from Top MBA Schools Kolkata?

Work experience can help the candidates in the admission procedure when they are looking for admissions to top MBA schools Kolkata. Most good B-schools in fact select candidates who have already worked for some years. They feel that working professionals will have a better idea about teamwork, and people skills, which are the two most important qualities needed to be a good manager.
Related Articles Ways to Choose MBA Institute Want to Study MBA in Calcutta? Mba College Selection: Tips For Kolkata Fresh Graduates Best MBA Colleges in Eastern India - Check Out the Ranking of Top B Schools in Kolkata There are many B-schools in the world where work experience is considered absolutely mandatory. In fact a number of business schools in UK are extremely strict and they never offer admissions to those who have less than three years of full time work experience. You may opt for other options, but think of the competition and if work experience gives you an edge, why not try for it? If you have a low GMAT/GPA score, you can actually highlight the managerial and leadership qualities and for this, you can take help of work experience. This will make your candidature strong when you are applying for top MBA school Kolkata.
Students will find that there are a number of business schools who look for candidates fro different cultural backgrounds to add diversity to their student community. Students who have work experience in teaching, private equity, sports, teaching consultation and military are also welcome. They actually enrich the learning process by bringing in their diversified experience. Moreover a class of students with different perspectives and different views in handling a situation will only add to the spirit of learning. People who have already handled situations in reality often have better perspectives than those with no experience at all.
AdChoices
 One should not forget that a student with a MBA tag will expect a bigger compensation package than anyone else. In that case a fresh graduate will have to face stiff competition from those who have already demonstrated their skills to cope with adversity and conflict in a real world situation. In this regard, a candidate with work experience will have better chances. He or she will be able to position himself or herself better by citing examples of their past experiences. They can also elaborate on their managerial skills by taking examples of real life instances from their previous jobs. In comparison, a ‘green’ candidate will have a tough time convincing the recruiters.
There is one small problem. If your resume shows that you have been frequently changing jobs, this will not create a good impression on the recruiters. It is better to stick to one job for a longer period in order to reap the benefits. You can avail the opportunity that comes your way, but it is always better to be faithful to your organization for at least 3-4 years.

Know the Right Profile For An MBA From A Business School

Even a few years back Kolkata was called a dying city because there were not many opportunities to pursue. Times however have changed now and the city has recently witnessed the growth of many fantastic MBA institutes which offer students gala placements. So if you are a student in Kolkata who is keen to study MBA in a top Kolkata B school then you are on the right track. First and foremost you need to decide if you are the right profile to be admitted in a good business school?
So how does a student from Kolkata keen to get admitted to a top B school decide if he is suited to it? First you should know about the average profile of your seniors. This will actually tell you where you stand. The written exam scores are important. But if you have low scores, you should not feel disheartened. The scores are important, but they are not the sole deciding factors.
However if you have a good CAT, you can easily get admitted to any of the schools you want. In case the scores are not satisfactory, work experience of 5 years will be an added advantage. If you can speak more than 2 languages, you have a fair chance to get admitted. It has been noticed that there are many students who are pretty comfortable in speaking almost 3 languages. There are some schools which values different experiences. They prefer diversity in academic backgrounds which means they are willing to admit people other than management or economics background.
A diverse class can always work in your favor. You will have something to learn from everyone. If all the students have same profiles, the class would be boring and there would be nothing to share except probably the class notes. Think of the ways in which you can contribute in the forming class. There is no age limit to when you can pursue a MBA degree. The more important factor is your objective, and what you have planned for your future. Think of your career goals and objectives. Do you think it would be better if you have pursued a PhD degree rather than a MBA degree?
You should understand that in most Kolkata business schools, the average age of getting admission is from 23-25. There are several MBA students who possess a master's degree in any of the disciplines before they join the MBA program; however it is undecided if the master's degree gives them an edge in the admission process. Nonetheless it cannot be denied that most of the schools now prefer a work experience of 3 to 4 years. You will never be able to contribute much in a MBA class in any of the schools, if you have not spent enough time in a real-world corporate sector. Your experience will count and you need something to contribute in the class. Professors appreciate the fact that you can analyze a situation based on your experiences in the real world.
If you keep on thinking that you are tool old to pursue a MBA degree, you can always go for an executive development program or an intensive specialized program in the field you want. The selection criteria will be different and there will be a drastic change in the profile. With a part-time MBA program you will have some added advantages. You can continue to do your work, while you do some value addition to your resume. At the end of the course, you will find that you are better equipped to handle any real life problem that may crop up!
To sum up keep in mind the MBA exam is a fast track way to add a cutting edge to your career. So it is imperative that you should get it. Be confident and hone your positive aspects while you go to get that coveted MBA degree.

10 BRILLIANT start-up ideas for college students

There’s been a lot of talk as of late regarding young entrepreneurs given the massive wealth Facebook’s IPO has created for its billionaire founder, Mark Zuckerberg. Google, Microsoft and many other companies were started on campus. Unfortunately, there simply aren’t that many investors in India out there to fund ideas from mostly unproven young adults, so it remains up to the entrepreneur to do it on their own.

For young adults, the best place to flex your entrepreneurial muscle is while you are in college — or at the very least when you are young enough to not be bogged down with a career. College is a great place to start your venture as you have lots of free time, access to a large pool of human capital and your college can provide much-needed support. The following ten business ideas are what can be executed while being on campus.

Flier Marketing Service- Lots of local small businesses are interested in different ways that they can reach the customers around them for cheap. Marketing for them usually involves buying space in the local newspapers or cable channels. Many small businesses would jump at the chance to have your company design and pass out fliers around town announcing sales or specials that they are offering.

Shoe Wash Company - Previously canvas shoes were cleaned using old toothbrushes and detergent but nowadays people have moved on to trendy sneakers and want the shoes to be cleaned by people who are experts in the field so that they can be maintained properly. In order to be successful in this business it is essential to know how to use chemicals and a fair degree of marketing skills are required too.

Doorstep Grocery Delivery Services - Nowadays customers want the groceries at their doorsteps without having to go the bazaar or wait in long serpentine queues on weekends at supermarkets.  This is where a doorstep grocery delivery company can come in handy. The main skills needed to run this business smoothly are sales and logistics management. This business has a break even period of 2 months at the very minimum and can provide gross profits of nearly 20 percent.

Wedding Planning - Wedding planning, made popular thanks to Bollywood flick Band Baja Baraat  is also a good business idea for those inclined towards event management and enjoy Indian Weddings! Nowadays, weddings in India are being celebrated on grand scales and the celebrators might not have the time to properly attend to every little nuance as a lot of time is involved in this as well. Wedding planners can help people in such situations.

Baby Sitting – Given rapid urbanization, nuclear families and both parents professionally working, babysitting services is the need of the hour. One needs to start with friends and referrals to build credulity and confidence of parents. The ability and tact of handling kids is a pre-requisite. If all is well this is a perfect business where one can study while being on the job!

Housekeeping For Corporates - Housekeeping services for small businesses is a proper business idea. With corporates and offices looking to keep their offices spanking clean, this is a good business idea. Good communication and man management skills are necessary to succeed in this domain.

Résumé Writing Service – Are you good at finding the best angles to present information? Start a résumé writing service helping students put their experience in the best possible format and phrasing to attract interview and career opportunities.

Student Awards Program – Everyone is looking for a way to get ahead in today’s competitive job market.  Team up with student affairs or any club like Lions or Rotary to start an on-campus student awards program where students are rated and awarded in certain categories that are relevant to future career success. Charge an entry fee and look for sponsors. This is a cool way for students to get accolades they can add to the list of credentials that can be presented to possible employers.

Financial Planning – Personal financial planning is a field that is expected to grow in the next few years. You can get an early start by beginning your financial planning business on campus. Work with students to help them save and manage their money. College is a time when people can really put a damper on post-college opportunities by ruining their credit or getting into debt. Help students avoid this and get paid for it.

Website For Rating Professors – Some professors are amazing, some are more boring than paint drying on a wall.  Your college mates might want to know that and maybe you can start a website to allow group rating and comments so everyone will know what they’re getting into before they register for a class.

There are possible many other things one can look to start with on campus. Just get a team in place, stop thinking and start acting. This is the single biggest step for an entrepreneur, Just do it!

Murtuza Rohawala is the Founder & CEO of Edfin Consultancy (www.edfin.in) which provides strategy and financial consulting to a lot of promising businesses. He also actively mentors students from various institutes in India. Murtuza is an MBA from Narsee Monjee Institute of Management Studies.