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Recently, several students have expressed an interest in working in the social development, governance and public policy areas after graduation. However, this interest is hindered by several barriers as highlighted below. Keeping in mind one of IIM Ahmedabad’s missions to create “socially-sensitive leader-managers”, we strongly feel that the Institute should incentivize student career choices for this sector. The following memorandum highlights some recommendations on behalf of the student body in this regard. The memo is organized as follows 1. Key barriers currently dis-incentivizing such career choices 2. List of incentive options along with rough estimates of costs. 3. List of similar initiatives at other Management institutions 3. Appendix of suggested organizations or career options to be considered under the purview of such a scheme. Key barriers 1. The high tuition fee at the institute becomes a major barrier to students interested in these careers. The problem is further compounded because of relatively lesser opportunities of jobs for people not availing campus placements. A majority of students are also availing of educational loans with large interest payments expected after graduation which acts as a monetary disincentive to taking up such careers 2. Several opportunities involve extremely modest or even no compensation. 3. Peer pressure in the institute builds an immense psychological pressure for placements. Hence, it becomes difficult for a student to choose a career which does not appeal to the students in general, or where there is a vast compensation differential with the rest of the batch. For instance, some opportunities identified on this list pay as little as Rs. 2.4 Lakh/annum, which is barely 20% of the median salary of PGP students. 4. The media hype created around the placements is a major cause of additional pressure from family and extended social networks which resists any tendency to go for unconventional career choices. Institute Perspective
3. This would encourage the interested students to go for policy related research careers. (http://www. 2. If the financial constraints limit the funding. To compensate for lesser paying jobs in noand related areas.0&term=60.” 2. reimbursement of tuition fees. IIM A has been known to create great leaders. if a student opting for a position in policy research. Proposal 1. The support could be in the form of interest waiver on loans. 3. an allowance equivalent to the difference between the median and the actual earnings can be given as a fellowship. one to two years. Fee waiver: This would reduce the financial burden to which a student is exposed. Alumni could created Endowed/Named Fellowships and set their own criteria for selection. The Median Guaranteed Cash Component (domestic) as per Finals 2011. The Guaranteed Cash Component (domestic) for the two programmes in this case would be about 7 lpa for PGP programme. it would help them to take up this career option seriously.infibeam. The reimbursement should be done after a fixed time frame. the equivalent could be benchmarked against lowest salary of the previous year. Alumni support could be useful for this option. For a student with a career in policy research. he could be provided with an option to come back and sit for campus placements after the stint is completed. The encouragement for policy related research as a career option is absent in most of the premier institute providing us an opportunity to lead the trend in the field. which would provide answers to questions of social importance. one of the objectives is “To participate in and contribute to the formulation of public policy. A loan at 10% for 60 months would have an EMI of about 29000. it is extremely difficult to pay .0 &rate=10.0&EMIType= EMI_IN_ ARREARS).action? calculation=emi&amount=1350000. Another source of funding for this could be via the Central Government. It could be partial or full reimbursement of the tuition fees on the institute constraints. Therefore. Placement Holiday: As said before. provided the student has worked in a non-profit sector entity for the duration. or even providing a stipend to students.com/finance /LoanCalculator. As per the institute website. Institute Fellowship: If institute provides suitable financial support for students in this career choice. The awarding of the reimbursements should be contingent to application to specific firms which are well-known in the domain. A partial list could be based on the firms listed in Appendix for policy research. placement from campus is more likely to get a better job than off-campus placements. IIM A has always been to be known as the trend-setter among its peers in field of management education.1. Another option could be waiver of interest payments. placement report is about 15 lpa for PGP program.
5 lakhs at 10% to cover his tuition expenses. PSUs and social sector (http://www. the financial burden would be 12. Harvard Business School provides fee waivers.com/India-news/Kolkata/Get-aPSU-job-IIM-C-will-refund-your-fees/Article1-766123. 3. To further clarify the financial aspects of the proposal. his father cannot pay back the loan and the onus is on Anand to disburse his loan. Option 4: Interest Waiver The EMI for the said loan is about 29000.irma. The selection for any benefits could be extended to 5 students this year.5 lakhs covering his tuition expense. Placement holiday and option to come back to campus placements is provided for Entrepreneurial ventures from students at IIM A.4 lakhs per annum. 4. IRMA offers a fellowship to the students whose minimum gross monthly salary is lesser than the preset minimum (https://www. Covering the EMIs for 24 months would be about 7 lakhs. a final year student at a ‘Well known Institute of Management in Western India’.ac.6 lakhs and 4. Anand has a keen interest in policy and related research areas. IIM Calcutta has offered total fee waiver and placement holiday for students interested in policy.in/programmes/scholarship. consider Mr.aspx). The students. The median guaranteed cash component for PGP placements was about 15 lakhs. Anand Singh. Option 1: Tuition fee waiver The total financial help from the institute in this case would be 13.this amount. 2.g. for whom the benefits are extended. could be selected on case by case basis which may include interview and/or expression of interest. who is also a student. He has a younger brother.e. Precedents 1. while the minimum figure was about 7 lakhs.php). The number of students for next year onwards could be decided on support and interest expressed by the students. LAMP).hbs. However. to meet Neeraj’s educational expenses. given the lower salaries. In these cases.6 lakhs respectively. The loan was to be paid back in 5 years. these EMIs could be covered for 24 months to help the student with financial stability during the initial phase.edu/socialenterprise/your-career/) 4. Option 3: Fellowship Assuming a typical stipend of 20000 (some well known programmes pay lesser . . Option 2: Placement Holiday No additional financial burden would be there on the institute. Neeraj Singh. Therefore.hindustantimes. His overall application for support looks very strong and is approved. his annual stipend comes to 2. He comes from a modest family background and had to take a loan of 13. Matching stipends/fellowships and loan forgiveness programs for students in non-profit/public sectors (http://www.
2. LAMP Fellowship Program.5 lakhs 63 lakhs 23 lakhs 35 lakhs Exhibit 2 Suggested list of organizations/programs 1. 6.As one of the leading institutes of education in the country.5 lakhs 12. Appendix Exhibit 1 Estimated Cost-Burden for each options Option Number of students availing Tuition Fee Waiver 5 Fellowship (median 5 benchmark) Fellowship (minimum 5 benchmark) Interest Waiver 5 (assuming 20000 stipend) Cost Per Student (per year) 13.6 lakhs 7 Total Cost 67. PRS Legislative Research Center for Civil Society Young India Fellowship Long term internships with Ministries and MPs. Center for Policy Research UIDAI project Planning Commission . 4.6 lakhs 4. 5. I believe that any incentive to directly work for the nation in capacity of framing policies would enhance the repute of the institute. 3. 7.
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