News: Indian MBA hiring - Realtors top the cos
(TNN 09/04/2006) New Delhi - Guess who’s hiring MBAs. It’s none other than India’s insatiable real estate developers. While on one hand, the nationwide hiring spree by biggies such as DLF, Unitech, Hiranandani and Omaxe is an across the board exercise, the property sector has also become the latest to go to top-of-the-line B-schools in its search for talent.
In fact, India’s top B-school ISB, which had its best ever placements this year, also had real estate players scouting for talent among the graduating class of 2006.
“Real estate was among the sectors that made a mark for the first time at ISB. Apart from record offers that some of our students have got, the fact that such new sectors are becoming recruiters on campus is also big news. In fact, one of our students, a shipping industry professional moved to real estate consulting, which is actually a career shift within the infrastructure sector. With new players coming into real estate development and the huge growth story in the sector, there will be more interest in hiring MBAs from campuses in coming years. Foreign consultancies who are setting up shop in India will also hunt for talent,” says Ajit Rangnekar, deputy dean at ISB.
As even as MBAs are willing to shift gears and consider careers in the emerging sectors like real estate, companies too are wooing them big time. “We are considering candidates with MBA qualifications for various positions and for this we approach business schools. Salaries offered to such candidates usually depends on the school and the previous experience of the candidate,” says Sanjay Chandra, MD Unitech Group.
For a sector growing at a scorching pace, the skills that MBAs from top B-schools bring to the table are often very important. “The industry is looking for analytical and strategic skill sets but more importantly the future growth potential is attracting more and more young MBAs. We, for example, have successfully participated in campus placement this year and have received a great response from students from all B-schools.
From the feedback we have received, students foresee this sector as a challenging and exciting career filled with excellent growth opportunities coupled with competitive remuneration levels. We have already committed to increase the number of young graduates we hire from good business schools every year for the next few years,” says Rothas Goel, CMD, Omaxe Group.
Specialised MNC players and real estate consultancies who have set up shop in India will definitely lead the talent hunt as Sanjay Verma, joint managing director, Cushman & Wakefield India, points out. “The spurt of activity has resulted in a huge demand for skilled professionals across several avenues such as project management, sales, marketing, financial services, research, consulting, facilities management, engineering etc.
More importantly, there is a greater need for senior professionals in leadership roles to cope with this unprecedented growth for a variety of organizations participating in this real estate growth. Be it developers, construction companies, property consultants, real estate funds, funding institutions or any other agency involved with any aspect of the real estate arena, there is an increasing demand for trained professionals , which has never been witnessed before,” he says.
The industry, which was largely unorganised till some time back is now also feeling the need for structured training and courses. “Given the fact that this market will become more aligned with global practices, it is only natural that greater number of MBAs will explore this industry. At the current rate of demand for professionals needed for this industry to cope with future growth, there will be a challenging demand supply gap unless, universities work with players in this industry and design courses which are formulated keeping in mind the needs and skill set requirements. Some schools have made a beginning in this arena,” feels Pradeep Jain, chairman, Parsvnath group.
In fact, India’s top B-school ISB, which had its best ever placements this year, also had real estate players scouting for talent among the graduating class of 2006.
“Real estate was among the sectors that made a mark for the first time at ISB. Apart from record offers that some of our students have got, the fact that such new sectors are becoming recruiters on campus is also big news. In fact, one of our students, a shipping industry professional moved to real estate consulting, which is actually a career shift within the infrastructure sector. With new players coming into real estate development and the huge growth story in the sector, there will be more interest in hiring MBAs from campuses in coming years. Foreign consultancies who are setting up shop in India will also hunt for talent,” says Ajit Rangnekar, deputy dean at ISB.
As even as MBAs are willing to shift gears and consider careers in the emerging sectors like real estate, companies too are wooing them big time. “We are considering candidates with MBA qualifications for various positions and for this we approach business schools. Salaries offered to such candidates usually depends on the school and the previous experience of the candidate,” says Sanjay Chandra, MD Unitech Group.
For a sector growing at a scorching pace, the skills that MBAs from top B-schools bring to the table are often very important. “The industry is looking for analytical and strategic skill sets but more importantly the future growth potential is attracting more and more young MBAs. We, for example, have successfully participated in campus placement this year and have received a great response from students from all B-schools.
From the feedback we have received, students foresee this sector as a challenging and exciting career filled with excellent growth opportunities coupled with competitive remuneration levels. We have already committed to increase the number of young graduates we hire from good business schools every year for the next few years,” says Rothas Goel, CMD, Omaxe Group.
Specialised MNC players and real estate consultancies who have set up shop in India will definitely lead the talent hunt as Sanjay Verma, joint managing director, Cushman & Wakefield India, points out. “The spurt of activity has resulted in a huge demand for skilled professionals across several avenues such as project management, sales, marketing, financial services, research, consulting, facilities management, engineering etc.
More importantly, there is a greater need for senior professionals in leadership roles to cope with this unprecedented growth for a variety of organizations participating in this real estate growth. Be it developers, construction companies, property consultants, real estate funds, funding institutions or any other agency involved with any aspect of the real estate arena, there is an increasing demand for trained professionals , which has never been witnessed before,” he says.
The industry, which was largely unorganised till some time back is now also feeling the need for structured training and courses. “Given the fact that this market will become more aligned with global practices, it is only natural that greater number of MBAs will explore this industry. At the current rate of demand for professionals needed for this industry to cope with future growth, there will be a challenging demand supply gap unless, universities work with players in this industry and design courses which are formulated keeping in mind the needs and skill set requirements. Some schools have made a beginning in this arena,” feels Pradeep Jain, chairman, Parsvnath group.
posted by InCar Group Press Room at 11:53
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