Why IIM graduates prefer tech roles over investment banking?
New Delhi: IIM is considered as one of the most prestigious management institutes of India. Students from reputed engineering, business, and management institutes like IITs prefer to join IIM instead of pursuing a corporate or central government job carrier. This is exactly what makes IIMs very popular and well-known all over the globe. Getting into IIMs is a hard nut to crack. Students have to get high CAT Scores in order to get into one of the IIMs.
Students after graduating from B-schools and IIMs prefer technological jobs over banking and investment jobs. Reasons for such a revolutionary change might be the preference of IT companies for IIM graduates owing to their computer science and electronics backgrounds from well-known technical institutes. The companies provide a handsome amount of money to the IIM graduates as they are trained and experienced in several backgrounds.
Reasons for preferring technical jobs over banking and investment roles
With a wave of automation sweeping in, the job scenario is seeing a great change. IIM graduates are preferring technical roles over the traditional and conventional banking and investment roles. Here are a few reasons why graduates put technical roles at a higher priority in their preference list:
Artificial intelligence and machine learning- The new craze: The path-breaking developments in the technical fields have given rise to attractive, high paying jobs in the field of artificial intelligence, machine learning, and IoT. The IIM pass-outs are preferring them due to the sheer growth opportunities available in these fields in future. From the recruiters’ perspective, an IIM graduate possesses both the technical as well as managerial capabilities required for these roles.
Automation taking over traditional banking jobs: With the success of digitization, the regular banking activities are being moved over to a more automated approach with i-banking services. Thus, the future of banking lies in the hands of those who can deal with both technical and managerial roles effectively. Candidates with an equal balance of qualitative and quantitative abilities are approached for job offers.
Scope and opportunity of MBA in finance
The technological field provides a huge range of opportunities compared to other fields. Technology opens up jobs in fields like Artificial Intelligence, the top most field in technology which is known till now and more preferable for IIM students. Every year lakhs of students apply for IIMs and only thousands of them get the opportunity of studying in these IIMs and top B- schools of India.
Students manage to handle multiple tasks, especially students with a solid technological background who can handle both management and technological research departments. Some students prefer to do jobs after completing their graduations in Technology (BTech) and then they decide to study in IIMs or in B-schools. However, along with the old job experience and new training in management and business, they prove to be better jobholders.
Moreover, these students prove to be better analytics than usual BTech students. So, both employers and employees are suitable for each other. Thus, these students with management and business backgrounds prove to be better in the field of the job of data analysis and computer science as they are capable of handling multiple tasks with their previous job experiences and new research interest compared to others. It seems pretty reasonable to hire such personalities for companies and for students to do technological jobs instead of banking and investment jobs even though they have done MBA in finance or they have graduated from B-schools and IIMs.
Rapid digitization has changed the job scenario completely. More technologically advanced roles are being offered since most roles starting from customer service to major IoT-enabled products are run by AI and machine learning. IIMs provide a clear picture of the changing recruitment scene and also about the ground trends in the market.