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:: 48 India


Consulting and Financial Services Emerge as Career Choices for IITians
48 India 10/10/2008 1:29:28 PM

Introduction

A recent study conducted by research and analytics firm, Evalueserve, has shown that Indian Institute of Technology (IIT) graduates are expanding their career choices beyond the traditional engineering and technology opportunities. There has been a noticeable shift towards consulting and financial services as well as continued interest in entrepreneurial aspirations. This shift is likely related to the buoyant Indian economy, a surging Indian stock market, and the increased earnings potential in these sectors. Evalueserve’s survey of more than 677 IIT graduates (IITians) uncovered the following highlights:

  • There has been a significant increase in the number of IITians who believe careers in consulting and financial services are the most promising.
  • The percentage of graduates moving into academics has been declining, and is likely to decline further.
  • A substantial portion of respondents still believe that an entrepreneurial career offers the most exciting opportunity both today and ten years into the future.

Changing Preferences

One can see from Figures 1 and 2 (see *.pdf) that the percentage of IITians opting for technology and engineering changed dramatically after 2001. Whereas 57% of those graduating before 2002 believed that pursuing traditional technology or engineering specialties would provide them better opportunities (48% technology and 9% engineering), this percentage dropped 13% to 44% for the 2002-2008 graduating classes (40% technology and 4% engineering).

Amongst post 2001 graduates, there has been a shift towards careers in consulting, and financial services. About 19% of the respondents from the graduating classes of 2002–2008 believe that experience in the consulting domain will provide them with better career opportunities in the future as compared to 7% of the respondents from the 1964–2001 classes. Similarly, preferences for the financial services sector increased from 2% for pre-2002 graduating classes to 11% for post-2001 classes. Indeed, the increasing numbers of top-flight consulting and financial services companies offering attractive salary packages while recruiting from IIT campuses, along with the proven success of IIT alumni in these firms are certainly two factors helping to precipitate this change. Other factors include a buoyant Indian economy and a booming Indian stock market.

[...]


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