priyankasingh24 Says

Thank you sir for that information. But i have myself seen the placement links on NIBM website (they have been replaced now with new links) of previous year placements at scale I (for two year programme). As scale I is nothing but Bank PO, so it creates a little confusion in mind.

I am an ALUMNI but still carry no qualms in accepting that this could well be the case, but as long as this number is less than 10% I will not read too much into this. All schools face issues with the placement of some 10% of it's batch ( I mean at par with the rest of the batch). The mantra is not to get into this 10% as this also means that one has under performed in all semesters and across all subjects.

Regards,
ANdy

priyankasingh24 Says

Sir, apologies, but I enquired from a few seniors at NIBM. They told me that students from 2 year programme have been placed at scale I (i.e. as bank PO) in past, through campus recruitment.

I know few students getting scale 1 job from the one year programme but roughly they are less than 5% and sometimes these scales don't apply, say for people getting into small/large private sector banks. Though I have still seen people converting their CTCs to decimal three places just in order to guess which scale they are equivalent to, had they joined SBI. Sometimes this calculation results in scale 1.78 or 3.45.
I don't know if there's any from the 2 year programme as it's difficult to make such claim without confirming all placements in past 3 years. But in terms of prospectus, you should not be concerned about this number as long as you can make it to the top 70% of your batch and present your performance decently in the placement interviews.

Regards,
ANdy

Ok this thread is showing some post GD/PI syndrome ......Yes guys we know, if only you have argued that point a little better on that day !!
RBI Governor, President of India..... Banking Industry.... ...........few more of such posts and you will see this thread amongst the weekly comic strips on the home page of pagalguy......( Chuck you listening?) :biggrin:
Remember my friends all B schools come as "package" and what's good for some may turn out to be irrelevant for others, what if Irrfan Khan had joined IIMA instead of NSD, Delhi.
So the assessment of suitability of a particular B School should be based on the offered career prospectus in your "filed of interest", provided you have one.
Ironically a lot of aspirants depend on these B schools to discover their field of interest itself and in turn B schools end up their creative time in improving those funny admission formulae. Retrospectively, to us who have passed that phase now, it all appears some "freaky chakra" out there.
Coming back to NIBM, yes it's not an AICTE approved MBA program but so are many other "holy cows", neither is NIBM worst/better than a P.O. job as they represents start of different career tracks, yes, comparable but definitely different.
In the end, barring top 10 colleges in India, B school's name will help (affect) you maximum for first two years of your career (some mistakenly consider the first job as career itself). After that it's exponential moving average (EMA) of your last three years of professional performance.
And trust me when analyzed in this light the B school selection becomes much easier.

Regards,
ANdy

Hello All (Seniors & Alumni),

Leave about salary ..... One doubt is haunting me nwadays that how is the life of a PSU bank employee after getting the PGPBF degree from NIBM. I have heard lot of Bank PO cribbing about their miserable life over there for e.g., how their bank manager screws them, how they are not given proper practical training, the accomodation provided by banks is not worth living. Along with this I have heard that there is lot of politics going on inside banks related to promotion,transfers just like our real India politics,therefore real talent doesn't get the real appreciation what he deserves ....... these all facts are not self made ....you verify them on threads in PAGALGUY itself ....people have said lot about life after joining PSU Banks

Now these stories haunt me a lot . What if this is the real case as PG is matters a lot in one's career and after having post graduation degree one cannot think of another PG if the job doesn't suits for him. And personally for me I want it as the last destination for studying. I was very much interested in Banks and the kind of work over there but from the day I came to know about all these facts I m in a bit of dilemma.

It would be very helpful if any Alumni can take the pain of answering this query of mine bcoz this relates to everyone who'll be joining this prestigious institution.

Well I believe it's sufficient to answer the highlighted part of your post as rest all is either related or based on rumors......
In my opinion the talent (potential) to achievement mapping is never perfect anywhere, probably barring sprinting. I mean if you could run 100 meters in sub 9 seconds, go ahead, call the media now and trust me today's media will brand you as the "Fastest Human" by tomorrow.
Unfortunately other things in life are neither as straight as the 100m track nor happen in 10 seconds and there come contacts, networks and above all politics.
Not always the best men get most chances in Cricket, neither the finest actors are always Superstars........ but sometimes you are just "nice" and end up becoming Prime Minister in return. :biggrin:
So buddy, stop looking for surety.......welcome to the world of Banking, where guarantors often default faster than the debtors !!
Btw, in order to be fair to you I would like to add that yes there's some merit in the argument that as Indian PSU are going through a phase of transformation in employee management, sometimes you may feel stuck up in situations. These should be handled on realization and shouldn't be accounted in advance.

Regards,
ANdy

Please find my answers below (in red):

Sir with u being a banker for government banks ANdy: Just fyi, I never joined any Public Sector Bank as I was never sure of fitting into that system ( Btw, this is my shortcoming not of the Banks), can you please answer us a few questions:

1) How much will I get in hand if I get placed in a bank because everyone invests in mba to amplify his/her salary?
I don't know your present salary so not sure if it will be amplified at first or not :P
Amplifying the salary in short term may not be (rather should not be) the only motivation to do MBA. Please understand that from the domain perspective it is something you have to be associated for next 2/3 decades. For example, salary or no salary, someone interested in communications will ruin his life by joining NIBM as its all about Banking (with special focus on risk management).

2) Though the package is 7-8 what are the perks one is offered?
Answer, same as above. For additional details please contact P.S.Bankers in your society.

3) Does any bank provides a profile of investment banker as am an investor so interested ?
No.

4) Is a "Sarkari Banker" good in position and power wise???
Seldom people get position or power immediately after MBA, one has to work for few years and command all this through performance. If you excel in your field P.S.Banker is a much respected and satisfactory profile to carry. Am not sure what kind of powers you accept from your job ?:|

Ur advise will help a few dreams!!!

Regards,
ANdy :)

I have been shortlisted on the basis of CAT. GD/PI on 17th in Pune.

I need to know that if I apply through ATMA as well and manage to clear its cutoff for NIBM.. will I get another call and chance for GD/PI?

Yes, and then the result will say

1. Abhinavupadhyay attempt One : Selected
   
2. Abhinavupadhyay attempt Two : WaitList 1
   

*Please withdraw your first application made through CAT if you want to join the program via ATMA.


If your question was an intentional joke then I am doing at the moment.

@Andy_jaan
Can we switch job in Banking sector after having worked for a Bank for 2 years ? And what career advantage (in terms of job roles or compensation) do we get?
What is Girls to boys ratio in the Batch ?

Hey, I was in Lucknow but still opted Pune for my GD/PI so as to see the campus, facilities, career prospectus before picking NIBM over some other decent admissions I had through CAT/XAT. If your location is still Pune, go ahead and share your experience (good/bad/ugly) here with other aspirants too.
Did you mean changing jobs between Banks, coz you'll anyway join the Banking sector as default? If yes, then trust me with NIBM tag changing jobs between Banks is quite often a cakewalk. Just that sometimes it leaves one amused that what really changes? After all for middle management profiles most of the Banking job in India are mirror images. Yes, but for specialists like credit analysts, corporate lending, treasury profiles etc. one can work and create a niche for himself/herself and move to another organization not limited to commercial banking.
NIBM is a fully residential program and hence naturally there's a target number of Boys and Girls to be admitted. This is to utilize all the Flats to optimum.
Though officially there's no reservation, whatsoever.
Get the exact numbers from the latest batch but generally it's equal seats for both. the fairer and "not so" fairer sex.

Regards,
ANdy

Like in past, quoting messages from my PM box for public interest

Sir i scored > 85%ile in cat
but i scored < 60% in graduation
now most banks ask for 60% in graduation so will i be eligible for campus placement for all the banks after passing from nibm?

Guys before I answer this question please understand that NIBM is a meaningful option only if you are interested in Banking (or up to certain extend risk management in finance) and that's why you see multiple Banks but only Banks (and allied jobs) in the placements. I reiterated this to highlight the importance of "clarity in thought process" while choosing NIBM over other MBAs. Once you understand this many confusions related to career growth, financial stability etc. will automatically go away. Afterall when it comes to Banking, NIBM is leaps and bounds ahead than its peers.
Talking specifically of placements, following information would help you in understanding the options better :

1. Few Banks do carry restrictions on age limits (both minimum and maximum), past marks etc. So people on the wrong side of such limits have to perform within the available options.
   
2. But at the same time there will be enough options for all deserving candidates, as performance in your course matters at NIBM.
   
3. And finally a 100% placement record since inception is too big a legacy to let go, so don't worry, it is generally ensured that everybody is placed (comfortably) within the placement period (usually 2 days).
   

Please post all your queries here as present students are doing a good job of replying with latest information. I passed few years ago so would only be able to comment on "middle/long term career options after NIBM".


With Regards,
ANdy :)

bvpprashant Says

I applied through CAT for PGPBF 12-14 this year... 89.22%ile. Have got the call.... just that I am over 26 years now (26.5yrs to be more exact).. End of road already ! why the heck did I apply here is what comes to me as the first thought !! Getting Sick and tired of this whole MBA thing.. feel like an OLD HORSE !!

Don't know what makes you sound this hopeless but trust me people do live after 27 years and enjoy life too.
Even if you feel you are little late and chances are diminishing don't worry, keep playing that next Ranji match and you never know when they (the BCCI Gods) introduce IPL and you find Tycoons lining up to sign you. (In case you don't follow cricket ignore this analogy !).
The mantra in today's economic scenario is to prepare hard when tide is low and then to wait for the time to get right valuations for hard work. I don't think anybody is late for any position in this century, you just need some patience, strategy and sometimes guidance.
All the Best.

ANdy :)

Ok guys..just to clarify all your doubt regarding using INDIAN Credit CARD for payment..

If you pay today (02-02-2012) by ICICI CC ...The closing day rate of US$ transactions TODAY (which you can know by visiting any branch) is 49.99 + 3.5% Transaction Charge.

So assuming you are paying $ 1185 ..in indian Rs ur credit card would be charged (1185 x 49.99) + 3.5% = Rs 59238 + 2073 = Approx Rs 61,311

Hope this helps

Sorry to add to your agony but please also add 10.3% against the service charge on the currency conversion charges.
So the final formula will be
1185*49.99*{1+3.5%*(1+10.3%)} ~ INR 61525

Btw, ICICI's applicable USD rate today is 49.15 I guess, if this helps or matters

I have not understood the following explanation: Can somebody through some light on it.
Jillian is choosing between two mutual funds. Fund A has a front-end load of 4%, a net asset value (NAV) of $60.00, and an expected return of 13.0%. Fund B has a redemption fee of 1.5%, a NAV of $27, and an expected return of 10%. Jillian will invest $50,000 in either fund. Which of the following statements is most accurate if Jillian has a 6-month holding period? The:
A)
investor is better off with the redemption fee fund by $592.50.
B) investor is better off with the front-end load fund by $120.00.
C) investor is better off with the redemption fee fund by $712.50. The correct answer is A) investor is better off with the redemption fee fund by $592.50.

Front end load fund:
$50,000 (1 0.04)(1.065)
= $51,120.00

Redemption fee fund:
$50,000 (1.05)(1 0.015)
= $51,712.50

Redemption fee fund advantage

$ 592.50

I am sorry but unlike the CAT threads the following for this thread is not sufficient to expect regular replies but let me try helping you here :

1. For a fund with front load x% your invested amount P will effectively become I where I = P*(1-x%) because P*x% you will lose upfront as fees.
   
2. So for a annual return of r% and holding period t (in years) the end value of the investment I will be A = I*(1+r%)^t, but if t is less than 1 then for end amount A,we usually use the formula
   A = I*(1+r%*t).
   
3. And finally assuming the redemption load y%, the value received at redemption will be A*(1-y%) as A*y% will be lost as redemption fee.
   

By combining the three points you can see the for investment P and time period t being less than 1 year the value at redemption, V will be
V = P*(1-x%)*(1+r%*t)*(1-y%)

Notice that in your example the y is zero in case 1 and x is zero in case 2, hence the explanation given by Kaplan. :)

Regards,
ANDy