Well, I have settled in comfortably in my new job at The Gallup Organization in Bangalore, India. Actually, I am enjoying it a lot here. The work is interesting and stimulating. It is more befitting of an MBA from a reasonably good institute in India.
Lately, I have been thinking of the aggressive recruitment in Indian B-schools by the Banking and Financial Services Industry (BFSI). I heard tons of these stories from students, message boards, blogs et al.
– ICICI bank recruits 60 management graduates from ABC Business School
– Citibank recruits 15 students in a day at a leading B-school
– HDFC bank picks up the best candidates on Day 1 of placements
– Indiabulls draws out aggressive recruitment plans
– BFSI- the biggest recruiter at B-Schools across the country
Now, this sector definitely picks up students for finance-related jobs from the top B-schools in India. But, what happens to the people from a second-rung college. Inevitably, these folks are made a part of the sales force. Such is this incremental addition to the sales force, that I wonder whats the reason.
I was talking to a friend last night and he was telling me that Marks & Spencer also sells insurance through its stores in London! Zapped! Then I realized something, the BFSI products/services move along a continumm that forces it to adopt a mass-distribution model. The product life cycle starts off with a limited, exclusive distribution and moves to an off-the-shelf distribution as the market evolves and competition grows. Maybe, this also points toward the fact that there can be a limit to financial engineering to tune and fine-tune products.