New Delhi: The global meltdown has not dampened the spirit of working executives, MBA aspirants or B-schools, as is evident from record number of candidates who sat for CAT this year and elite institute like IIM Lucknow mulling a specialised programme on finance.
About 2.90 lakh management appeared for the CAT exam this year, 60,000 more than last year.
However, not many of the successful candidates to IIMs or other b-schools would opt for finance for specialisation, rather go for specialising in human resource or marketing, one of the IIM faculties said, pleading anyonimity.
“I have a feeling not many would take up finance, given the ongoing crisis and freezing of jobs but pick up HR, manufacturing and marketing instead,” she said adding: “But again these are mere speculations, the impact of the meltdown would only be felt when placement season actually starts three months from now.”
A few of the IIM students expressed hope that though big names from the financial world will be missed during the next round of placement, their absence will more or less be done good by other firms as many recruiters to IIMs return back empty-hand every year.
“I am also confident that the craze for specialising in finance will pick up in about a years time as banks and investment firms would never cease to function,” said Puneet Behl, a working executive, now enrolled to a year-long management programme at IIM Lucknow’s Noida campus.
The Noida campus, in fact, is planning to start a specialised course in finance keeping in mind the ever increasing demand for it.
The post-graduate programme in finance will be offered to working executives. IIM Lucknow has already entered into an understanding with McGill University, Canada to roll out the programme.
“Faculties in the Noida campus said working executives with a minimum of five years experience would be eligible to apply for the programme, which will be offered to 30-40 students in a batch,” she said.
McGill is one of the best known institutes of higher learning in Canada.
Most of the executives observed that the meltdown has rather come as a blessing for finance executives as their expertise would be more in demand to handle such crisis.
They felt the crisis in the US was because of lack of regulations in the country and not because of inherent flaws in their fundamentals.
“As the marked overcomes the current crisis, we will see a renewed demand for finance managers,” Behl said.