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Plum job offers and tough times seem to have pushed entrepreneurship to the back burner at the Indian Institutes of Management (IIMs) this year. Amid fears of recessionary trends, students of the premier institute are following what they are taught becoming managers instead of taking the entrepreneurial route. Since the economic slowdown in 2009, the number of students opting out of placement season to become entrepreneurs across IIMs has not been up to the same level as before 2008.
For instance, only six students from IIM Ahmedabad have decided to set up their own ventures in 2012 as compared to seven in 2011, five in 2010 and nine in 2009. In March 2008, when recessionary trends had not swept the market, 10 students opted out of IIM Ahmedabad placements to start their own ventures. As many as 11 students either opted out of placements or rejected job offers to start their own enterprise in 2007, high lighting the confidence for taking risks. Two of these students rejected offers in excess of 1 crore from investment banks to start off their own venture. Other IIMs, too, have seen a dip in what students call the opting out of placements (OOPS) phenomenon this year. At IIM Bangalore, only eight students have opted out of placements this year to become entrepreneurs as compared to 19 in 2011. Sapna Agarwal, head career development services at IIM Bangalore, said, We have seen that a larger number of students start their ventures or join startups after a year or two of working. Only one student from IIM Calcutta Pooja Mishra, plans to expand her already established venture in the education sector as compared to seven each in 2011 and 2010.Institutes attribute reasons to plum job offers and the increased risk amid recessionary fears. G .Sridhar, chairperson-placements at IIM Kozhikode, said, Venturing into entrepreneurship at a time when the global economy is not steady seems risky. This is a phase where students are probably waiting to see how market would fare in a couple of years as nobody wants to lose money. In spite of the IIMs encouraging students to pursue entrepreneurship through various initiatives, students seem inclined towards comfortable jobs that come with fixed pay packets. Sarath Babu, a 2006 graduate from IIM Ahmedabad said, The number of students opting for entrepreneurship should actually increase with each passing year. However, the reasons students prefer jobs could be good packages, high challenges or to gain corporate experience before jumping into their own ventures.
Courtesy: Times of India
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