JANUARY 5, 2003
 Cover Story
 Editorial
 Features
 Trends
 At Work
 Personal Finance
 Managing
 Case Game
 Back of the Book
 Columns
 Careers
 People

Two Slab
Income Tax

The Kelkar panel, constituted to reform India's direct taxes, has reopened the tax debate-and at the individual level as well. Should we simplify the thicket of codifications that pass as tax laws? And why should tax calculations be so complicated as to necessitate tax lawyers? Should we move to a two-slab system? A report.


Dying Differentiation
This festive season has seen discount upon discount. Prices that seemed too low to go any lower have fallen further. Brands that prided themselves in price consistency (among the consistent values that constitute a brand) have abandoned their resistance. Whatever happened to good old brand differentiation?

More Net Specials
Business Today,  December 22, 2002
 
 
Help, Tarun!!!


I am a 44-year-old sales executive working in a steel company for the past 14 years. I obtained a management degree with specialisation in marketing in 1998. I am planning to migrate to the US in a couple of years. What professional skills and academic qualifications will help me get a good job there?

Recruiter's Diary
B-School Blues: Are They finally Over?

It will not be easy for you to get a job of your choice in the US on account of your age. You may have to compromise on your choice of sector or location of the job at least in the beginning. On the other hand, your experience as a sales executive for the past 14 years could help you land a lower-level sales job in the US more easily than would be the case otherwise. It would help a lot though, if you managed to acquire some exposure to industries other than steel before you went to the US. This will give you greater flexibility while applying for jobs in that country.

I am a 37-year-old chartered accountant and have worked in the finance departments of several service sector companies, including an advertising agency. In 1997, I started my own financial consultancy business but that didn't do very well and had to be wound up after two years. I enrolled into a three-year law course in 1999 and successfully became an advocate this year. I approached several reputed consulting firms for a job but none responded. My options seem to be restricted to either joining a law firm at a low salary or to take up a finance or accounting job, neither of which holds much promise. What should I do?

Consulting firms worldwide have been going through a tough time in the last couple of years. Most big firms have not only put recruitment on hold but have laid off hundreds of employees. There are very few jobs going in the consulting sector currently. Given your work experience, your best option would be to apply for a corporate finance job. Your legal qualification will prove an added advantage in securing for you a promising career in the service sector. You could also consider applying to the legal department of an insurance or financial services company, where you would be able to utilise your knowledge of finance as well as law. Eventually, you can take up a consulting job when things start looking up in that sector.

I have a B.Tech degree from the British Columbia Open University, Canada, which offers long-distance courses. I recently learnt about an MBA course being offered in India in association with a US university. The programme is accredited in the US and its curriculum is modelled on the lines of what mainstream B-schools offer there. The MBA programme costs Rs 2.5 lakh and offers students the option of working while doing the course. What are my chances of landing a job abroad after doing the course? Would this be better than joining a B or C grade business school in India?

You would be well advised to take into account the placement of students who have done the MBA programme in the previous year-in terms of the recruiting companies as well as the positions offered. This is a good indicator of the course's market value. Also, find out what the academic standard of the university concerned is. Don't fall for the overseas label-there are B and C grade business schools in all countries. While an MBA acquired from a good overseas B-school may give you a better chance of getting a job abroad, remember that your prospects would as bright if you had an equivalent qualification from a first-rung B-school in India while the costs would be low in comparison.

I am a 26-year-old software engineer working with an Indian company in the US. I have notched up a General Management Admission Test (GMAT) score of 730 and am considering doing an MBA in the US. To fund my education I will have to take a loan, which I will be required to repay over three years from my post-MBA earnings. Does it make sense for me to take a loan to do an MBA programme abroad?

Unlike in India, taking educational loans is an established and popular practice in the US, with few downsides attached to it. Assuming that you continue to work in that country, you can expect your salary to rise considerably after the completion of the MBA course. Repaying the loan shouldn't be too difficult once that happens. Also, the average age of B-school students in the US is between 26 and 30, so age is no barrier to your going in for an additional qualification. What you need to keep in mind, however, is that the course you do should be from a reputed B-school.


Answers to your career concerns are contributed by Tarun Sheth (Senior Consultant) and Shilpa Sheth (Managing Partner) of HR firm, Shilputsi Consultants. Write to Help,Tarun! c/o Business Today, Videocon Tower, Fifth Floor, E-1, Jhandewalan Extn., New Delhi-110055.


Recruiter's Diary
It is difficult to describe an ideal candidate for the CEO's slot, but here are some traits you should look for while recruiting one.

Sunit Mehra, Country Manager, Hunt Partners India

An article in the economist recently talked about "watching out" for charismatic CEOs and how the humble and conscientious CEOs are back in fashion. The markets want straight-laced managers with solid conservative virtues. Another international magazine recently talked of the "Teddy Bear" CEOs who are the order of the day-individuals such as Sam Palmisano and Jeffrey Immelt who are more empathetic towards the needs of their organisations.

THE IDEAL CEO SHOULD BE...

» Passionate and effective in his communication
» Highly energetic at work
» Achievement-oriented with conviction in his goals
» Persistent
» Honest to the core
» Have both a micro-and macro-level perspective
» Able to inspire future generations of leaders

While it is very hard to simply enlist the traits of a successful CEO, over time we have been able to narrow them down to some very fundamental characteristics that we believe go beyond the fads. There are turnaround CEOs, start-up CEOs and growth-oriented CEOs, but some attributes cut across all the different types and should be our guiding light while assessing candidates for the chief executive's post.

We were recently mandated to find a managing director for an MNC. We conducted exhaustive research and interviewed 12 candidates.

We usually like to begin an interview by allowing the individual to talk about himself and ask any questions he might have. One candidate was discounted, as he had no strategic questions to ask about our client's business. Another one was discounted because he was unable to show clarity of thought. One candidate was rejected as his every statement and achievement started with an "I". Some failed to make the cut for inability to express financial facts and figures of their company effectively. Some were too involved in extra-curricular activities, thereby limiting their time at work.

We finally zeroed in on four for interview with our client. The individual, who finally got the job, had all the traits we were looking for, but most importantly, he had clearly created and institutionalised systems to develop future generations of strong leaders. His subordinates and peers raved about him.


B-School Blues: Are They Finally Over?
After a disappointing show last year, B-school placements look set to witness a revival.

The much awaited b-school placement season is just round the corner, and if summer placements are any indication of what to expect, the class of 2003 seems headed for a better time than what its seniors experienced last year.

In keeping with the broad job market trend, the revival is expected to be driven by domestic it companies- Infosys and Wipro, in particular-that carried out extensive recruitment drives in the last few months. FMCG majors, which had drastically slashed recruitment targets last year, are expected to return in large numbers, as are the banks. New companies from the telecom, insurance and pharmaceuticals sectors will also be making a beeline to grab some of India's brightest business talent from campus this year. The international biggies, though, are likely to stay away this year as well, which continues to worry the top B-schools. Says Ravindra Dholakia, in charge of placements at IIM-Ahmedabad, "We are largely unaffected by swings in the domestic job market." The global recession, which has affected the large international recruiters, is a major cause for worry though.

Most do not foresee a huge rise in the salaries offered, but an average annual growth of 10-15 per cent is expected and students aren't complaining, considering that average salaries dipped last year. Adds Management Development Institute's Placement Co-ordinator, Amit Mukherjee, "Salary is certainly important, but students are actually looking at the quality and exposure of the job."

 

    HOME | EDITORIAL | COVER STORY | FEATURES | TRENDS | AT WORK | PERSONAL FINANCE
MANAGING | CASE GAME | BOOKS | COLUMN | JOBS TODAY | PEOPLE


 
   

Partners: BESTEMPLOYERSINDIA

INDIA TODAY | INDIA TODAY PLUS | SMART INC
ARCHIVESCARE TODAY | MUSIC TODAY | ART TODAY | SYNDICATIONS TODAY