The season of placements is in full swing at all of India's premier business schools.
While many are still in the placement season for 2023, some have already carried it out.
Many of us find it challenging to understand the numerous terminologies related to placements, especially those on the other side of the fence (such as MBA hopefuls and UG students).
The 12 MBA placement words that you should know are listed below.
Recruiting process
The process by which companies find and hire MBA graduates for job opportunities.
The recruiting process for MBA graduates is a multi-step process that begins with identifying job opportunities and ends with an offer letter. Companies typically use various methods to find MBA graduates, including on-campus recruiting, job fairs, and online job boards.
On-campus recruiting
The process of companies visiting MBA programs to recruit students for job opportunities.
On-campus recruiting is a standard method used by companies to find MBA graduates. This process involves companies visiting MBA programs to meet with students and conduct interviews. These visits typically occur throughout the academic year and are coordinated by the MBA program's career services office. On-campus recruiting events may include information sessions, networking receptions, and interviews. Companies may also participate in job fairs, events where multiple companies come to campus to recruit MBA graduates. These events allow students to meet with various companies in one location and learn about different job opportunities.
Resume book
A collection of resumes from MBA students are provided to companies for recruiting purposes.
The resume book is another tool that companies use to find MBA graduates. It is a collection of resumes from MBA students that are provided to companies for recruiting purposes. The summaries are typically organised by industry or function, making it easy for companies to find candidates with the skills and experience they are looking for. Career services offices typically provide resume books to companies recruiting on-campus or at job fairs.
Job fair
An event where companies come to campus to recruit MBA graduates for job opportunities.
Job fairs are an effective way for companies to reach many MBA graduates in a short amount of time. They typically take place on college campuses and involve multiple companies setting up booths to showcase their products and services and available job opportunities. This is an excellent opportunity for MBA graduates to meet with company representatives, learn about the company's culture and values, and discuss potential job opportunities. Job fairs also allow MBA graduates to network with other professionals in the field. Additionally, they help MBA graduates know more about the industries they are interested in, giving them a chance to make a more informed decision regarding job searching.
Interview
A meeting between an MBA student and a representative from a company to discuss job opportunities.
An interview is a critical step in the recruiting process for MBA graduates. It is a meeting between an MBA student and a representative from a company to discuss job opportunities. Interviews can take place on campus, at the company's office, or via phone or video conference. During the interview, the MBA student has the opportunity to learn more about the company and the job, and the company representative has the chance to learn more about the MBA student's qualifications and fit for the role. The MBA student may also ask questions about the company and the position during the interview.
Super Day
A full day of interviews with a company is typically held at the company's office.
The Super Day is a more extensive version of an interview where a company invites an MBA student for a full day of interviews, typically held at the company's office. This is a more rigorous process where the MBA student will meet with multiple organisation members, including managers, executives, and potential co-workers. This allows the MBA student to understand better the company's culture and values and the different roles and responsibilities within the organisation. The company also gets to assess the MBA student's fit and compatibility with the company.
Offer letter
A formal document outlines a job offer's terms, including salary and benefits.
After the interview process, if a company is interested in hiring an MBA student, they will extend a job offer through an offer letter. An offer letter is a formal document that outlines the terms of the job offer, including salary, benefits, and start date. It is essential for MBA students to review the offer letter carefully and to ask any questions they may have before accepting the offer.
Sign-on bonus
A financial incentive offered by a company to new hires as part of their job offer.
A sign-on bonus is a financial incentive offered by a company to new hires as part of their job offer. Sign-on bonuses are typically given to new hires to help cover the costs associated with starting a new job, such as relocation expenses or temporary housing. Sign-on bonuses can also be used to attract top talent to the company. MBA students need to understand the terms of the sign-on bonus, such as when and how it will be paid and any conditions that must be met to receive the reward.
Stock options
The right to purchase company stock at a discounted price is often offered as part of a job offer.
Stock options are a form of equity compensation often offered as part of a job offer. Stock options give the holder the right to purchase company stock at a discounted price. This is an attractive benefit for MBA graduates because it allows them to share in the company's success and earn a significant return on their investment. Stock options are typically granted at the time of hire and have a vesting schedule, meaning they become fully vested over a certain period, usually a few years. MBA graduates need to understand the terms of their stock options, including the exercise price, the expiration date, and the vesting schedule.
Relocation expenses
Reimbursement for expenses incurred in moving to a new location for a job.
Relocation expenses are another benefit often offered to MBA graduates as part of a job offer. This benefit is a reimbursement for expenses incurred in moving to a new location for a job. These expenses can include things like temporary housing, moving costs, and travel expenses. MBA graduates need to understand the terms of their relocation expenses, including how much they will be reimbursed and what expenses are covered.
Sponsorship
A company provides financial support to an MBA student for tuition and other expenses.
Sponsorship is a form of financial support a company provides to an MBA student for tuition and other expenses. This type of sponsorship is aimed at attracting top MBA talent to the company. Sponsorship is typically offered to MBA students who are pursuing their degree on a part-time or executive basis. This can be an excellent opportunity for MBA students to receive financial assistance while gaining practical experience and building relationships with the company.
Networking
Building and maintaining professional relationships, often done at MBA events and through alum networks.
Networking is an essential aspect of the MBA experience. It involves building and maintaining professional relationships with other MBA students, alums, and industry professionals. Networking is often done at MBA events, such as networking receptions and alums events. It is also done through alum networks, accessed through the MBA program's career services office. Networking is a valuable tool for MBA graduates as they begin their job search. It allows them to learn about job opportunities, get advice from industry professionals, and build their professional network.
