National Insurance Academy School of Management : MBA Admissions 2008

k_patel

Quote:

Originally Posted by purba123

Hi seniors..........
Placements looks really great but i have some queries.......
1. Does your placement statistics include only the gross salaries or it also includes the ctc part?
2. Is there any criteria to be fulfilled to be eligible for abroad study tour or all the students are taken to this tour?
3. I am fresher,so i want to know are there any fresher studying in college?If yes what is the percentage?
4. I have still not received my gd-pi call letter,if i don't get it on time what is the alternative?

Very very very good question ... ha ha ha ... I was really wondering why no one has asked this question about the method of calculating salary statistics !!!

1. Here's how the recuiter gives the break-up of what they will pay u :

In-Hand salary before Tax + Their Costs on You (this could be as simple as your phone bills which the co will pay to something as crazy as the cost of laptop which co will provide u or rent of the co provided flat or even rent of the office space which u will use !!! ... it really depends on company to company ... but at NIA ... companies have remain reasonable so far) + Fixed Bonus Not Linked to ur performance + Variable Bonus Linked to ur performance.

Now what do u mean by CTC is also a disputed topic ... so I won't try to define CTC.

But industry practice (i.e. that's what they do at most of the bschools) is to calculate all these 4 parameters for arriving at any salary statistics !!!
And our figures according to that is : Lowest : 4.75, Avg : 6.30, Highest : 8.5

But if you say that the last variable part which is linked to individual performance should not be calculated ... then our figures are : Lowest : 4.75, Avg : 5.85, Highest : 8.5

So you can see that Lowest and Highest salary getters have no variable component in their packages ... it's only the avg which is coming down a bit.

Many bschools also follow the practice taking the sum of all the offers. That is ... if you have got 4 offers then they count the sum of all 4 offers to arrive at ur avg salary ... BUT ... we haven't followed that method ... we have only taken those offers in account which the students have selected.

In fact ... 4 students rejected offers of 7 lacs and accepted the alternative offers of 5.XX because of their preference for job profiles ... so then we didn't count those 4 offers of 7 lacs.

Foreign tour is mendatory for everyone ... I am in the first year and we are going to Thailand in the second half of April this year.

Around 30% students of our batch have some work ex ... ranging from insurance ind to any other ind to family owned business. So freshers have a very good chance ... but work ex gives u the edge over a freasher ... but then u need to demonstrate extra maturity and u r grilled on ur work ex area ... without that u cannot get through.

If ur name is on the GD/PI list published on our website then it's more than enough .. u dont need call letter. Call letter has following detials : 1. ur date and time of gdpi 2. Map of reaching to the bus stop from where u can take NIA's bus and also the map to directly reach to the campus if u r not coming by bus 3. U need to bring a DD of 25000 drawn in fav of NATIONAL INSURANCE ACADEMY which u need to submit if u r selected and want to take admission. Later on if u change ur mind then u can get ur money refunded but u need to notify NIA within 7-15 days (exact details on refund will be given to u before taking ur DD) and 4. u need to bring all the original documents and a set of their photocopies also ... that's it ... but still if u dont get ur letter within some days and u want it then let me know.

And most imp thing : u need to send a mail to svdeshpande@niapune.com to confirm ur participation in GDPI on the given date and time.

purba123

Quote:

Originally Posted by k_patel

Very very very good question ... ha ha ha ... I was really wondering why no one has asked this question about the method of calculating salary statistics !!!

1. Here's how the recuiter gives the break-up of what they will pay u :

In-Hand salary before Tax + Their Costs on You (this could be as simple as your phone bills which the co will pay to something as crazy as the cost of laptop which co will provide u or rent of the co provided flat or even rent of the office space which u will use !!! ... it really depends on company to company ... but at NIA ... companies have remain reasonable so far) + Fixed Bonus Not Linked to ur performance + Variable Bonus Linked to ur performance.

Now what do u mean by CTC is also a disputed topic ... so I won't try to define CTC.

But industry practice (i.e. that's what they do at most of the bschools) is to calculate all these 4 parameters for arriving at any salary statistics !!!
And our figures according to that is : Lowest : 4.75, Avg : 6.30, Highest : 8.5

But if you say that the last variable part which is linked to individual performance should not be calculated ... then our figures are : Lowest : 4.75, Avg : 5.85, Highest : 8.5

So you can see that Lowest and Highest salary getters have no variable component in their packages ... it's only the avg which is coming down a bit.

Many bschools also follow the practice taking the sum of all the offers. That is ... if you have got 4 offers then they count the sum of all 4 offers to arrive at ur avg salary ... BUT ... we haven't followed that method ... we have only taken those offers in account which the students have selected.

In fact ... 4 students rejected offers of 7 lacs and accepted the alternative offers of 5.XX because of their preference for job profiles ... so then we didn't count those 4 offers of 7 lacs.

Foreign tour is mendatory for everyone ... I am in the first year and we are going to Thailand in the second half of April this year.

Around 30% students of our batch have some work ex ... ranging from insurance ind to any other ind to family owned business. So freshers have a very good chance ... but work ex gives u the edge over a freasher ... but then u need to demonstrate extra maturity and u r grilled on ur work ex area ... without that u cannot get through.

If ur name is on the GD/PI list published on our website then it's more than enough .. u dont need call letter. Call letter has following detials : 1. ur date and time of gdpi 2. Map of reaching to the bus stop from where u can take NIA's bus and also the map to directly reach to the campus if u r not coming by bus 3. U need to bring a DD of 25000 drawn in fav of NATIONAL INSURANCE ACADEMY which u need to submit if u r selected and want to take admission. Later on if u change ur mind then u can get ur money refunded but u need to notify NIA within 7-15 days (exact details on refund will be given to u before taking ur DD) and 4. u need to bring all the original documents and a set of their photocopies also ... that's it ... but still if u dont get ur letter within some days and u want it then let me know.

And most imp thing : u need to send a mail to svdeshpande@niapune.com to confirm ur participation in GDPI on the given date and time.

Thank you very much for explaining everything to me,i can see that you took a lot of pain to answer each question.

Also thank u for information regarding the call letter,i really needed that information.

k_patel

Quote:

Originally Posted by purba123

Thank you very much for explaining everything to me,i can see that you took a lot of pain to answer each question.

Also thank u for information regarding the call letter,i really needed that information.

Ohhh ... in that case ... U can give me a Kitkat later on if u become my junior

And here's the road map and bus schedule : Introduction to NIA

U need to reach to : HOTEL PRIDE at UNIVERSITY ROAD. Besides that hotel ... there is a huge building of LIC. Just stand on the main road outside the LIC building for NIA's bus services.

ssuchi · 05:44 PM

thank you ..

ssuchi

Thank you for all information as even i haven`t received gd/pi call letter and i was not knowing about 25000 draft.
But I have one doubt that when i called in institute they told me that result would be declare on the same day of gd/pi.so, how it would happen? b`coz it is schedule for 6 days. is it so that it has been predecided that among 1 group 5-6 would be chosen thus result will be declare daily in this manner?kindly reply. and what would be gd topics ?more finance,insurance based or general social topics?

k_patel

Quote:

Originally Posted by ssuchi

Thank you for all information as even i haven`t received gd/pi call letter and i was not knowing about 25000 draft.
But I have one doubt that when i called in institute they told me that result would be declare on the same day of gd/pi.so, how it would happen? b`coz it is schedule for 6 days. is it so that it has been predecided that among 1 group 5-6 would be chosen thus result will be declare daily in this manner?kindly reply. and what would be gd topics ?more finance,insurance based or general social topics?

See ... NIA works on a different idea of selection :

The pannel has some parameters against which they will rank u during ur gdpi. And then there is a cutoff level .. if ur scores can clear those cutoffs .. then u will be directly selected ... if u can't clear the cutoff but can come near to the cutoff level then they will put u in the waiting list ... and if ur performance was really bad then u will be rejected.

But yeah ... there's no clear cut calculation that we need to choose X no. of ppl from every group ... it all depends on how many ppl can clear the cutoff ... and don't think that ppl who come on the last day has less chance !!!

And every year ... there are some people who change their mind later on and ask for the refund and join other bschool ... so in that case ... admission office will call the waitlisted people.

GD topics are very general ... nothing insurance specific ... but what happens is that few candidates will drag insurance in the discussion just to impress the selectors ... so either be ready with some very basic GK of insurance ... or learn to prove that dragging insurance in the discussion is irrelevant or put across some strong valid points which are related to the topic of GD but not related to insurance. My exp is that u r judged on ur skills and not on ur knowledge abt insurance.

In PI .. just be preapred with the basics abt ur acads ... work ex ppl be ready with work ex related details ... be ready to face some general questions like .. what r ur plus / minus points etc ... and some very basic insurance/finance/business GK .. like how many insurance co r there in india ... which r govt companies ... etc.

I am 100% sure that NIA is not expecting u to already know insurance (unless u have insurance related acad / work ex background ) !!!

Just be relaxed ... be urself ... dont get tensed if someone is dragging insurance and u r not able to do anything .. u keep on putting other strong points forward. Same with the interview ... don't worry if u cant answer insurance related questions ... because how can that be the parameter of judging u !!! ... but if u dont know abt the subject of ur graduation ... or abt ur job profile ... or abt urself / ur family / ur city / ur state etc. Then there is a problem !!!

I was asked "Can u name some mutual funds?" ... so I politely asked for a clarification : "Sir, do u mean mutual fund schemes or companies?" And then I answerd the question. So if u have confusion in gd/pi ... ask for clarifications.

I even had addressed a madam as "sir" .. ha ha ha ... but then I laughed and said that ... Sorry ... I am not able to hide my anxiety !!! Then they made some remarks and we laughed again.