The Uncomfortable Truth About Jobs in India | Ft. Ashutosh M, Ex Goldman Sachs

Summary

In this candid reflection, the speaker shares their journey from mechanical engineering to pursuing an MBA and ultimately finding their niche in finance. The narrative highlights pivotal moments of career dissatisfaction and realization, offering insights into the evolving value of an engineering + MBA combination in India. From the harsh realities of industrial work to the challenges and rewards of corporate finance, the speaker emphasizes the importance of finance knowledge in modern life, debunking the myth that math skills are essential for success in the field. Their story is a testament to personal growth, career shifts, and the changing landscape of business.

Takeaways

• 😀 **Career Reflection**: The speaker realized the importance of job satisfaction and shifted from mechanical engineering to pursue an MBA for a more comfortable and fulfilling career.
• 😀 **Engineering + MBA Trend**: The combination of engineering and an MBA became a highly valued career path in India in the 2000s, mirroring a trend from the U.S. in the 1980s.
• 😀 **Job Realities in Engineering**: The speaker reflected on the harsh realities of working in an outdated industry, specifically mechanical engineering, where innovation was limited and job conditions were difficult.
• 😀 **Importance of Finance**: The speaker stressed that finance is essential in modern life, and even without advanced math skills, understanding finance is crucial for career and personal growth.
• 😀 **Value of Technical Expertise**: The speaker highlighted the increasing importance of tech knowledge in business roles, urging MBA students to maintain and integrate their technical expertise.
• 😀 **Personal Growth at XLRI**: The speaker pursued a business management course at XLRI, where they focused on improving academically, leading to high rankings in the class despite initial challenges.
• 😀 **Dual Specialization**: The speaker chose a dual specialization in finance and marketing at XLRI, emphasizing that a well-rounded business education is important for career flexibility.
• 😀 **Early Career Choices**: After graduating, the speaker joined ICICI Bank’s treasury department, illustrating the importance of choosing a role aligned with personal interests and skills.
• 😀 **Corporate Life Realities**: The speaker described the transition to corporate life in Mumbai, dealing with long commutes and adjusting to the city’s fast-paced environment while maintaining professional focus.
• 😀 **Adapting to Challenges**: The speaker encouraged embracing challenges in both academic and professional settings, emphasizing that hard work and adaptability are key to success.

Q & A

What led the speaker to pursue an MBA instead of continuing with mechanical engineering?

The speaker realized that their work in mechanical engineering, particularly at Tata Power, was not aligned with their long-term career goals. The harsh working conditions and lack of intellectual stimulation in the role made them reconsider their future, prompting a shift toward an MBA, which they saw as a path to a more comfortable, office-based job.

How did the speaker view the role of an MBA in their career development?

The speaker initially saw the MBA as a commercial decision, aligning with the trend of combining engineering with business education. They viewed it as a way to enhance their career prospects, especially given the growing popularity of the engineering + MBA combination in India during the early 2000s.

What was the speaker’s perspective on the importance of technical knowledge alongside an MBA?

The speaker emphasized that while business management is crucial, it's equally important to retain technical knowledge, especially in today's world where technology is increasingly integrated into business processes. They advised MBA students, especially engineers, to continue valuing their technical expertise while pursuing business education.

How did the speaker’s experience at IIT influence their career decisions?

At IIT, the speaker initially received a prestigious education, which led them to a job at Tata Power. However, after experiencing the realities of working in harsh conditions, they realized that their passion lay elsewhere. Their IIT education also introduced them to finance, which sparked their interest in pursuing an MBA and a career in banking.

What were the social dynamics at XLRI, and how did they influence the speaker's academic journey?

At XLRI, the speaker faced social distractions, especially from classmates with different motivations, such as those drawn to the HR program. Despite these influences, the speaker remained focused on academics and was determined to succeed. Their dedication paid off as they finished second in their batch, with their academic success overshadowing the social temptations of student life.

Why did the speaker choose finance as their specialization during their MBA?

The speaker's interest in finance grew from an elective course on derivatives and macroeconomics during their time at IIT. This interest was further nurtured at XLRI, where they decided to specialize in finance and marketing, seeing finance as a critical skill for success in the modern world.

How did the speaker’s placement process unfold after completing their MBA?

The speaker received multiple job offers due to their strong academic performance, including offers from Citibank, Accenture, and ICICI Bank. However, they chose ICICI Bank because it aligned with their interest in finance, particularly in treasury functions, and because it offered specialized training in banking.

What challenges did the speaker face when transitioning to working at ICICI Bank?

Upon joining ICICI Bank, the speaker faced the realities of working in Mumbai, including long commutes and the demanding pace of the job. Despite these challenges, they found the training and exposure to various banking functions at ICICI to be highly beneficial for their professional growth.

What role did mentorship and peer influence play in the speaker’s career development?

Mentorship and peer influence were important throughout the speaker's academic and professional journey. At XLRI, the speaker was influenced by a friend who had a different perspective on education, and this relationship motivated the speaker to perform well academically. Later, at ICICI Bank, the speaker learned from colleagues in different departments, further shaping their career trajectory.

What key advice does the speaker offer to students considering an MBA or career shift?

The speaker advises students not to abandon their technical expertise when pursuing an MBA, especially in fields like engineering. They stress that while finance and business management are crucial, combining these skills with technical knowledge will provide a competitive advantage in the future. Additionally, they encourage students to follow their interests and make decisions based on personal fulfillment rather than societal trends.