What is Lateral Placement

Lampard · **Re: How much does Mckinsey look for -** 06-01-2005, 01:48 PM

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Originally Posted by v02

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Originally Posted by Lampard

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Originally Posted by snan

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Originally Posted by LetsGo2k5

Also, is it true that only people who go in with great workex get salaries like 20-30 lakh p.a.

Or is the average fresher who gets into these instts also eligible for such job offers(paying 20-30 lakh pa), provided he is competent and the company thinks he/she is worth the salary.

whts the denomination ur talking about here d00d ??? Paise ??? or Indonesian rupaiya ? ..to put things in perspective, my VP business deve with 20 yrs exp and mba frm IIM C used to get 16 lakhs per annum.....whr dya folks cook up these figures ??

and no i banks dont ask for experience..its def negative if not in a related field...

I second that

I banks need people with enthu -- not software burnouts

and even if u are a fresher, dood dont make the mistake of going in with too high expectations

dont start thinking of dollar sals and I-banks just yet.

just go in with humble expectations and consider it a big bonus if u get something special

waise just a fact

HLL ppo at iima gives 24k in hand
and still HLL is one of the most desired companies.

another small thing D00D

my post is more relevent to someone who is on the way to joining AB or C..........

mu advise to u is just think about the CAT for now.

I absolutely dont agree with your point about enthu v/s Software burnouts.
IIMs are very smart and they must certainly be giving a thought to the employability of a person before admitting him.
After all, the IIMs pride themselves on their placement record(foreign placements and the high salaries).
So why is it that they give more weightage to a guy with workex in calling him for GD/PIs after the CAT.

It must be because they believe that the employability of such a person is higher.

I was talking about I Bank jobs and not
IIM admission criteria...

do u think IIM admission comitee wants every one to be an i-banker

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Lampard · **Re: IIMs declare top salaries as 80 k $ -** 06-01-2005, 01:52 PM

Quote:

Originally Posted by v02

The question, which seems to have got lost in all this salary talk about HLL is that who is eligible for the jobs at the I-Banks, freshers or experienced folks.

he i guess the initial question was
"ELIGIBILITY FOR LATERALS"

The next time go thru the forums properly

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v02 · **Point taken -** 06-01-2005, 02:04 PM

Ok !!!!

Point taken and noted.

Now would someone please explain unravel all the jargon that we get to read in the newspapers.
For instance What is a PPO???

(I know Pre Placement Offer). But how does it happen in practice?

And someone who has observed the process in their institute please explain how the laterals were carried out? Who was eligible?

ajain · **Re: What is Lateral Placement -** 06-01-2005, 04:20 PM

Quote:

Originally Posted by Barricuda

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Originally Posted by ajain

colleges like SPJ donot have laterals whereas all iim's have....AJ

I thought SPJ does have lateral placement and the benchmark was 30 months.....i remember seeing something like that in their placement brochure on their website....did they change policies??

-Barricuda

Edit - Just in case u needed confirmation, click this link....its under the name of HEP(whatever that is

)....looks like it is the same as lateral placement.....

sorry take back my words on SPJ...they do have laterals for 30+ work ex people.
AJ

Barricuda · **Re: Point taken -** 06-01-2005, 06:29 PM

Quote:

Originally Posted by v02

Ok !!!!

Point taken and noted.

Now would someone please explain unravel all the jargon that we get to read in the newspapers.
For instance What is a PPO???

(I know Pre Placement Offer). But how does it happen in practice?

And someone who has observed the process in their institute please explain how the laterals were carried out? Who was eligible?

This is based on what I have heard.....PPO's are given out by the companies where u do ur Summers.....after u finish ur summer proj, the company may offer u employment if they liked ur work.... this happens before the regular placement season, hence PRE placement offer.....

-Barricuda

rajeshnsitian · **one yr or two yrs of workex...???? -** 06-01-2005, 10:36 PM

hi junta...

failed to get a call this yr....

98.33 overall%ile
98.6 VA
93.xx quant
89.xx DI

i wish to ask what makes more sense...a one yr. workex or two yr workex...advantage wid 2 yr is that i'll elligible for lateral placements...but the downside is tht ppl are talking of cat being subjective frm nxt to nxt yr...

does one yr workex give any leverage over no workex at all...and wht r the prospects for laterals after a coupla yrs of workex????

ciao
rajesh

P.S- why did the mods lock the earlier post

i thought i had asked all valid questions...

sanju baba · 07-01-2005, 01:56 AM

I have 5.5 yrs of wrk ex (Project Manager) and have seen a bit of corporate life so could not resist myself from posting this one.

1. Laterals are company requirements dependent. We have 10mth exp guys cracking laterals (@IIMC) whereas some comps have put the cut off at 36 mths. SO you see ..no straightjacketing.

2.I-Banks and Global Consults (McK/BCG et al) value your wrk ex but you still start with the freshers (Last yr a 10yrs exp guy from IIMC joined McK along with fresh graduates - at the same position). To my knowledge these comps do not come in laterals.

3.Yes salaries do top $120,000 in good times (GOD willing!). But ever thought that this is not the same as Rs 120000 * 45 in India. When you stay in US , you pay in $ for everything. How 'bout a haircut for Rs 600 or monthly rent of Rs 100,000. Moreover, if you feel you have it in you to crack CAT, to join the best BSchool and then to top the most competitive set of people --don't worry you'll definitely do better for yourself (even if you don't land up with the $$).

4. Top comps ( I-Banks/Consults) take guys who are really good - they'll perform exceptionally well irrespective of their experience (or the lack of it)

5. If you want loads of money ..then better be an entrepreneur and make a fortune for yourself. BSchool will only get you a managerial job which will have it's limit (in terms of pay)

Lastly, not all iBankers make money. Don't go on what you hear/read thru 3rd party sources. Find out for yourself.

Remember, best jobs on campus and the best campus in the world may not be the best for you. SO instead of being result-centric be more process oriented and enjoy it while it lasts. Give your best in whatever you do and results will follow.

HTH,
Manish

rbsshining · 07-01-2005, 11:51 AM

That was great gyan Sanju baba...thnks a lot.....It gave us a very good insight into rethinking about certain misconceptions junta has.....

Barat

FreakazoiD · **Re: How much does Mckinsey look for -** 07-01-2005, 11:55 AM

Quote:

Originally Posted by Lampard

I second that

I banks need people with enthu -- not software burnouts

Quote:

I was talking about I Bank jobs and not
IIM admission criteria...

do u think IIM admission comitee wants every one to be an i-banker

.

Hey Lampard, I agree with most of the things you mentioned abt the salaries.

One question for you - if I have work-ex in a technical job for 2 yrs, (assuming I get into an IIM next yr) will I be at a disadvantage while applying to I-banks ? Which are the companies where I will be at an advantage because of my work-ex ? (By technical I mean core engg and not software)

cheers,

the freak

Lampard · **Re: How much does Mckinsey look for -** 07-01-2005, 12:41 PM

Quote:

Originally Posted by FreakazoiD

Quote:

Originally Posted by Lampard

I second that

I banks need people with enthu -- not software burnouts

Quote:

I was talking about I Bank jobs and not
IIM admission criteria...

do u think IIM admission comitee wants every one to be an i-banker

.

Hey Lampard, I agree with most of the things you mentioned abt the salaries.

One question for you - if I have work-ex in a technical job for 2 yrs, (assuming I get into an IIM next yr) will I be at a disadvantage while applying to I-banks ? Which are the companies where I will be at an advantage because of my work-ex ? (By technical I mean core engg and not software)

cheers,

the freak

I never said that anyone has a disadvantage

i just said that u dont have any advantage if the experience is not relevent.......

if u get placed in an I-bank after 2 years of tech experience then u will have to start along side freshers.

apart from that one thing that naturally goes against ppl with technical jobex is that ....

they dont do well in subjects related to accounting and finance

so if u are enthusiastic about a job in finance and show your capability by doing well in finance related subjects then u have an equal chance....

but u end up waisting 2 years of ur life (the engg jobex part..)

for ur second ques..

i would say U have an advantage only where ur work-ex is relevent
( i mean the same industry )......

one more thing

u know IIMS admissions comitee really prefer (or get impressed easily ) by the candidates who are working in there core technical area of study
(Contributes to versitality of the batch)

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