http://www.atimes.com/atimes/South_Asia/GE13Df03.html Indian managers stay home
NEW DELHI - They are the cream of the Indian corporate sector. The graduates of the Indian Institutes of Management (IIMs) are to Indian multinationals and businesses what the engineers of the Indian Institutes of Technologies (IITs) are to the Indian (and US) software sector. For long, India watchers have bemoaned the fact that the best (graduates of IIT and IIMs) do not stick around in the country and look for better opportunities abroad...
...This year the placements have thrown up a curious result - graduates spurning offers from Western countries. While each management graduate from these institutes could easily boast of at least two job offers, what has caught the eye of observers are the few who have spurned top jobs abroad to hang on to equally good prospects in India. One could not grudge these bright graduates for leaving the country a decade ago when there were hardly any jobs to speak of in the country matching their caliber, with the Indian private sector crushed by the weight of all-pervasive government controls. But the popular complaint was that since the IITs and IIMs were heavily subsidized by the government, it was the Indian taxpayer who was subsidizing manpower that ultimately benefited alien economies. Though the IIMs have raised their fees, the government still plays an active role in their management. The IITs continue to function with government doles.
But the tendency of IIM graduates to seek Western jobs is clearly on the wane, reflecting the changing mindset about opportunities in the country itself. The graduates of IIM-Ahmedabad, which is rated the highest among the IIMs, have received the highest foreign salary offers among business schools in India this year. But for the first time, over a dozen students from IIM-A have spurned offers for foreign postings....
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