My humble request to all,
Dosto Itna mat daro......sab accha hi hoga hamare liye....WE ARE THE CHOOSEN ONE
CHEERS
Agree ... Count me !!!
Agree ... Count me !!!
rahulsharma1982 SaysYes Manager Grade-II is middle management...... Do you have any idea about job locations post-MBA?
No Idea buddy but I believe (and what other's communicated to me) is that we will be posted in metros only (mainly Delhi, Mumbai & Hyderabad as key centers)
Guys,
1. In clause9, it clearly says "In the event of your discontinuation from the MBA (Finance & Banking) Programme" . So this clause holds true only if you discontinue your 2 yr mba course. In that case they will charge 15% interest from the start date to date when you discontinue the program. After that till you repay the entire amount they will charge you 24% for the remaining days. Hope that clears everything.
2. There is already a 20 lakh bond for 3 yrs. So i feel if you discontinue after 3 yrs and within 60 months (5yrs) then you might have to pay the remaining loan amount at charges which ICICI bank has not prescribed. SO WE SHOULD CLARIFY FROM THEM WHAT WILL HAPPEN IF WE LEAVE AFTER 3 YRS BOND PERIOD.
3. Pls dont expect ICICI to reveal the break up of 15 lakh CTC. Even during placements at IIM they dont reveal these details for that case any other company.Thats what I heard from some of my IIM friends. These details you could get through current contacts from ICICI Bank.
4. Im not surprised to see that 4.5 lakhs is only tuition fees. All colleges have their hostel,food,book,laptop as extra charges apart from tuition fees. But we can check with them why they are charging us for an entire year. This is not fair.
5. And regarding posting location we have no say.Im hoping it would be at corporate offices in Tier 1 cities or Tier 2 max.But as Rahul said there is a chance that we might get posted in small towns also.
Guys, at this point at least ICICI has mentioned most of the points in their terms and conditions. We know what we can expect post the 2yr MBA. So its our call.
Everyone,
for the above very good points-
Point 1 makes sense here- Baski i think you are right.
Point 2 - i have send an email to ICICI Bank
Point 3 - i agree no one can give you a breakup...however i have asked two closed ended questions to them Rahul will upload my questionnare in a while
Pont 4 - again right- too high for only tution fee
Point 5 - i dont agree...we can ask the questions only right now....its now or never.....no one will revoke our offer letter for asking questions....but we need to send a single email with all our questions....
Can we all please consolidate our questions here....send a single email to them with everyone in CC and ask them to respond before 15th....????
its possible if and only if we target to consolidate all the questions by friday noon, take a final check and send them on saturday.
if you all agree then please start adding your questions in the word doc uploaded by Rahul. NO question is a stupid question....atleast by the response we will be able to judge the uncertainity and amount of risk( and also the intention/rationale behind it from ICICI )
Everyone,
for the above very good points-
Point 1 makes sense here- Baski i think you are right.
Point 2 - i have send an email to ICICI Bank
Point 3 - i agree no one can give you a breakup...however i have asked two closed ended questions to them Rahul will upload my questionnare in a while
Pont 4 - again right- too high for only tution fee
Point 5 - i dont agree...we can ask the questions only right now....its now or never.....no one will revoke our offer letter for asking questions....but we need to send a single email with all our questions....
Can we all please consolidate our questions here....send a single email to them with everyone in CC and ask them to respond before 15th....????
its possible if and only if we target to consolidate all the questions by friday noon, take a final check and send them on saturday.
if you all agree then please start adding your questions in the word doc uploaded by Rahul. NO question is a stupid question....atleast by the response we will be able to judge the uncertainity and amount of risk( and also the intention/rationale behind it from ICICI )
Guys, good going.... very helpful & informative posts here.... The document sent by Rajesh to ICICI is attached herewith FYI.
regards,
Rahul
Guys, good going.... very helpful & informative posts here.... The document sent by Rajesh to ICICI is attached herewith FYI.
regards,
Rahul
With some addition
Guys, I was able to somehow contact an HR guy. He informed me that we will be getting a call from ICICI for replying to our queries either today or 2morow.... Let us c, how much true they are in this commitment....As usual, he didnt know anything else..
hi guys...........
cheer up...........
we are on the point where we can proceed ahead or take our steps back.........
As I think, this is the normal offer letter which ICICI has sent to us, as these conditions are imposed on us as no body should leave the course in-between else they will be in a huge loss.
as i have talked to one of my friend in ICICI, he told me that , the position which is being given to us from ICICI is very good one and we will be posted at the posts who are decision makers not bankers...
If they have to make us branch manager or something like that , then they haven't offered us such a big package. If they are imposing terms & conditions, because they want that we should stick to there company.
As per my knowledge if we will work with ICICI for 5 years, then in any other bank we will be directly given the post of VP, which seems good to me.
If we will mail them and make a CC to everyone, it would look like we are on revolt and we are not willing to join there course. We have the right to ask questions to them but on individual basis , not by making a group, which looks like un-ethical as no HR persons wants that there should be any type of unity between he employees that can harm the company benefit.
SO, request everyone who so ever has any type of queries should mail by themselves only as individual not as a group.
Rest, as I think, If I would be a employer I would make more stringent terms and conditions which ICICI has prepared.
Rest everyone is free to take there own decisions.
At present we are the stage where we require the MBA degree and job of 15LPA , not ICICI. We are at the receiving end.
I request all my dear friend and group members, please please give a right thought and then write a mail on individual basis.
We are united here, but do u think a company will be happy to know that we are united. They can also take it as a threat to company benefit. We can make BCC , so that our purpose should be served.
My dear friends, If I am wrong, please ignore this message, but then also I think, everyone want's to join this course, atleast myself, so lets make a positive attitude and proceed. I am not going to leave ICICI for five years because uptil that date I will be "PAKA" in every concept and then we can jump to XYZ company.
We should ask the our individual queries and then can post here. DO you think, ICICI will be happy to See 2-3 page queries.
Comments Please.
Regards to all my dear friend and group members.
We want to grow also but we don't want to take calculative risk, which is the first step to great success & confidence.
Great motivating post Mohit.... Happy to see some optimistic guys here...
But buddy, please note that we all want to do this course & thats the reason we applied to it. However, at the same time, it should not happen that just by looking at the "gold bricks" on the other side of the river, you miss to calculate the depth & flow of river & just jump into it.....right? Hence, we are just trying to be little thoughtful now so as not to be sorry afterwards....
We all have tried by sending them mails individually. But what has happened? No one got any reply. That thing only has compelled us to take a stronger step.
But, I really hope that the things would be as rosy as they seem as of now...
Hi thanks for the idea that u shared, do u hav any idea as why they hav only declared 81 people instead of 120 candidates....
hi guys...........
cheer up...........
we are on the point where we can proceed ahead or take our steps back.........
As I think, this is the normal offer letter which ICICI has sent to us, as these conditions are imposed on us as no body should leave the course in-between else they will be in a huge loss.
as i have talked to one of my friend in ICICI, he told me that , the position which is being given to us from ICICI is very good one and we will be posted at the posts who are decision makers not bankers...
If they have to make us branch manager or something like that , then they haven't offered us such a big package. If they are imposing terms & conditions, because they want that we should stick to there company.
As per my knowledge if we will work with ICICI for 5 years, then in any other bank we will be directly given the post of VP, which seems good to me.
If we will mail them and make a CC to everyone, it would look like we are on revolt and we are not willing to join there course. We have the right to ask questions to them but on individual basis , not by making a group, which looks like un-ethical as no HR persons wants that there should be any type of unity between he employees that can harm the company benefit.
SO, request everyone who so ever has any type of queries should mail by themselves only as individual not as a group.
Rest, as I think, If I would be a employer I would make more stringent terms and conditions which ICICI has prepared.
Rest everyone is free to take there own decisions.
At present we are the stage where we require the MBA degree and job of 15LPA , not ICICI. We are at the receiving end.
I request all my dear friend and group members, please please give a right thought and then write a mail on individual basis.
We are united here, but do u think a company will be happy to know that we are united. They can also take it as a threat to company benefit. We can make BCC , so that our purpose should be served.
My dear friends, If I am wrong, please ignore this message, but then also I think, everyone want's to join this course, atleast myself, so lets make a positive attitude and proceed. I am not going to leave ICICI for five years because uptil that date I will be "PAKA" in every concept and then we can jump to XYZ company.
We should ask the our individual queries and then can post here. DO you think, ICICI will be happy to See 2-3 page queries.
Comments Please.
Regards to all my dear friend and group members.
Idiotbox SaysHi thanks for the idea that u shared, do u hav any idea as why they hav only declared 81 people instead of 120 candidates....
ya friend they have taken less people, because they want that who-so-ever they selected for this course, they should provide him a good career. They haven't started this course for earning money, but so that there organization can grow with our career, that's why they have selected 81 rather than 120 or 500. They have the feeling to absorb everyone. May be we can't totally rely on the corporate person's , they change there statement which are in favor of there organization. We have to take some calculative risk, hmmmmmmmmm..
I have already taken my step ahead as I have already put up my resignation to my present company.
"Dar to lagta hai dost but hope for the best"
sagacious_mohit SaysWe want to grow also but we don't want to take calculative risk, which is the first step to great success & confidence.
Dear Frnds,
Mohit is absolutely correct, we should not form any group for posing our queries, if it is very urgent & you cant take decision of YES or NO, without getting answers of these ques thn only u shud go ahead.
Its not correct to make a group, we can ask our queries on individual basis (I already did-regarding hostel & food charges).
NO one can guarantee whts will be the conditions after two years....even we cant guarantee that we will score above 90% in each & every test or task to be given in future.
They have choosen us (and we volunteered for it) & they are giving very competitive package (if you compare from my last post) & that too equal to IIM guys.....they will make us managers---as per their requirements.
How can they say about posting n all....n all these profiles are of COMMERCIAL BANKING....not retail banking...
regarding loan amount....if we want to leave after 3 years....who is stopping....we will only leave if we are getting very good hike..n after 3 years of service with ICICI bank (at starting package of 15L), 3-5 lacs will b nthg for us....we can easily give that amount......mind that we r getting one of the best bank's experience....at no cost at all....
So please wait for the mails or calls....n complete your formalities on time....
even after making DD of 10K (i did)....if we are not sure of joining....we will nt join...
We are governed by the rules & regulations of employers....it is nt d other way round....all companies put themselves in most safest clauses....
Cheer up guys.......m very happy tht I have got a chance to interact with u guys on such a forum n feel lucky that I am connected with all of you .....evn before joining the classes at Neemrana.... d ball is still in our court.
Guys,
Did ne1 rcv the courier yet ?? hardcopy ??
Dear Frnds,
Mohit is absolutely correct, we should not form any group for posing our queries, if it is very urgent & you cant take decision of YES or NO, without getting answers of these ques thn only u shud go ahead.
Its not correct to make a group, we can ask our queries on individual basis (I already did-regarding hostel & food charges).
NO one can guarantee whts will be the conditions after two years....even we cant guarantee that we will score above 90% in each & every test or task to be given in future.
They have choosen us (and we volunteered for it) & they are giving very competitive package (if you compare from my last post) & that too equal to IIM guys.....they will make us managers---as per their requirements.
How can they say about posting n all....n all these profiles are of COMMERCIAL BANKING....not retail banking...
regarding loan amount....if we want to leave after 3 years....who is stopping....we will only leave if we are getting very good hike..n after 3 years of service with ICICI bank (at starting package of 15L), 3-5 lacs will b nthg for us....we can easily give that amount......mind that we r getting one of the best bank's experience....at no cost at all....
So please wait for the mails or calls....n complete your formalities on time....
even after making DD of 10K (i did)....if we are not sure of joining....we will nt join...
We are governed by the rules & regulations of employers....it is nt d other way round....all companies put themselves in most safest clauses....
Cheer up guys.......m very happy tht I have got a chance to interact with u guys on such a forum n feel lucky that I am connected with all of you .....evn before joining the classes at Neemrana.... d ball is still in our court.
Okay lets not form a group...
but can we all consolidate all the questions we have asked and answers received on those questions by the bank....i dont want to ask the same question to them again if they have answered it already for someone else.... imagine 81 candidates sending 2-3 emails loaded with questions....i think at this pace ICICI would need a month to answer the questions.....
for all the future managers 😃 taking a well informed decision is a must!!! if they cant do it today they wont be able to do it in future...i have seen these kind of questions thrown at offocial query for SP jain and they are very transparent in responding it...no one would revoke your offer if you ask questions....they have asked you all sorts of questions before selecting you isnt it??? phscyometric tests...to GD to personal....after drilling into your personal and professional lifes they have selected the smartest among the lot...now its your turn to ask them back a few geniune questions...its a very professional approach towards your career...and no harm in asking any question together or individually....we are just reducing the time gap by consolidating and eliminating the redundancy!
So lets drop the idea of a single email...but can we atleast consolidate the questions here by tomorrow? i have done my part already
Dear Frnds,
Mohit is absolutely correct, we should not form any group for posing our queries, if it is very urgent & you cant take decision of YES or NO, without getting answers of these ques thn only u shud go ahead.
Its not correct to make a group, we can ask our queries on individual basis (I already did-regarding hostel & food charges).
NO one can guarantee whts will be the conditions after two years....even we cant guarantee that we will score above 90% in each & every test or task to be given in future.
They have choosen us (and we volunteered for it) & they are giving very competitive package (if you compare from my last post) & that too equal to IIM guys.....they will make us managers---as per their requirements.
How can they say about posting n all....n all these profiles are of COMMERCIAL BANKING....not retail banking...
regarding loan amount....if we want to leave after 3 years....who is stopping....we will only leave if we are getting very good hike..n after 3 years of service with ICICI bank (at starting package of 15L), 3-5 lacs will b nthg for us....we can easily give that amount......mind that we r getting one of the best bank's experience....at no cost at all....
So please wait for the mails or calls....n complete your formalities on time....
even after making DD of 10K (i did)....if we are not sure of joining....we will nt join...
We are governed by the rules & regulations of employers....it is nt d other way round....all companies put themselves in most safest clauses....
Cheer up guys.......m very happy tht I have got a chance to interact with u guys on such a forum n feel lucky that I am connected with all of you .....evn before joining the classes at Neemrana.... d ball is still in our court.
Okay lets not form a group...
but can we all consolidate all the questions we have asked and answers received on those questions by the bank....i dont want to ask the same question to them again if they have answered it already for someone else.... imagine 81 candidates sending 2-3 emails loaded with questions....i think at this pace ICICI would need a month to answer the questions.....
for all the future managers 😃 taking a well informed decision is a must!!! if they cant do it today they wont be able to do it in future...i have seen these kind of questions thrown at offocial query for SP jain and they are very transparent in responding it...no one would revoke your offer if you ask questions....they have asked you all sorts of questions before selecting you isnt it??? phscyometric tests...to GD to personal....after drilling into your personal and professional lifes they have selected the smartest among the lot...now its your turn to ask them back a few geniune questions...its a very professional approach towards your career...and no harm in asking any question together or individually....we are just reducing the time gap by consolidating and eliminating the redundancy!
So lets drop the idea of a single email...but can we atleast consolidate the questions here by tomorrow? i have done my part already
ya correct.........
form a list of questions and the same questions can be send by 2-3 persons from our group and then we can post the answers here...
hi guyz,
I got the hard copy today .. and just as Rahul updated some posts back, got a cal from ICICI HR !!!
its the same person who sent the email, Amit ...
i asked him the following queries :
1. Reg extension of start date :
I told him that everybody here are working and getting relieved in less than 2 months is very tough. He informed me that they considered all that and the max they were able to give was 45-50 days and he told that in case of ppl moving for education/higher studies, its muxh easier to get approval and get relieved.
2. Reg Hostel/Mess fee:
NO HOSTEL FEE !!! No hostel fee for ppl studying for ICICI Business leadership program. We need to only take care of our mess and laundry expenses !
3. Reg 5 year loan period:
He gave me a big explanation for this. The summary is that, we are at an advantage w.r.t to Internship, stipend etc, so the bank and the management has made a decision to split the loan amount for 5 yrs. BOTTOMLINE : There's no change in that and we either have to pay as per that percentage calculation after 3 yrs or stay for 5 yrs and finish it off !!
Hey Abhi, where r u frm? Asking coz i didnt receive the hard copy till now.. btw, what all docs r there in the hard copy??
I got one hard copy from the University which is the offer from the University for the Admission..
Is there any other Document apart from this?
rahulsharma1982 SaysHey Abhi, where r u frm? Asking coz i didnt receive the hard copy till now.. btw, what all docs r there in the hard copy??
they are the same three pages that we got in the first letter from NIIT...
Puys,
I received a call today evening from an ICICI Bank HR rep.
Seems like all our calls to the helpline numbers and numerous emails sent to them are showing the results 😃
The HR rep informed they are individually calling up every selected candidate to resolve all doubts and queries about the program. The discussion went very well and he told that this program is very close to ICICI Bank and they are very serious about.
I asked him the following questions:
1. Course structure and curriculum:
Course structure and subjects will be highly specific to the needs of ICICI Bank. The faculty will be a mix of both NIIT and ICICI Bank.
2. Does 4.5 lac include hostel fee:
Yes it does but not the food charges. 4.5 lacs will include tution fee, books, study material and hostel.
But not mess charges as they are paying a stipend of Rs 10k to cover those expenses.
3. Loan terms and interest rate of 24% if we leave after 3 years:
This will not be the case. He said once you have completed the bond period, the bank will not recover loan at 24% even if you leave the organization. It would be recovered at the rate at which you were already paying it.
I told him that the terms in the letter are very ambigous about this.
@itzabhi, I think we two have been told different things, when someone else gets a call from ICICI, please clarify more on this condition to confirm what are the loan terms.
4. Roles and Responsibilities of a Manager Band-II:
He said specific role will be decided post successful completion of the course and on specialisation. But he said a Manager Band-II is a senior member of the team and has great responsibility on his/her shoulders as is also evident from the salary being offered.
He also told that when they hire from B-schools they place them at Manager Band-I but the students from this program will be placed at a higher scale and role.
5. Notice Period issues and delay in joining:
He said joining date cannot be extended. And that they would expect some cooperation on this from our side!!!
He was very clear that they expect us to leave our current organizations in a respectable way with a proper relieving letter.
He also mentioned to take a print out of the Terms and Conditions email from ICICI Bank if we have not yet received the hard copy and use that email to submit our acceptance. He said as soon as we submit the acceptance our loan application procedure will start.
Now as all of you would also be receiving your calls either today or tomorrow , better prepare all your questions in advance.