Thursday, March 29, 2007

A to-be MICAn's queries - answered.

I'm reproducing a mail which I received this morning from someone who has received a final call from MICA. He has raised a few perninent questions, which I thought might interest more than a few people, so I'm reproducing it here. The coloured text has the answers to his questions।
I have got the offer letter from MICA and I have some queries which I know you will have answered million times but for me it is the 1st time so I hope you will get time to answer it.Here it goes:

Q 8 Lacs for the course. Is it worth it? I mean, will I be able to repay my loan or in other words what will be the salary range for 2009 batch?
- Since it's a money-money question, let's look it from a finance angle. Treat this 8 lakhs as any other investment - Supposing you had to put this money into an investment fund what Rate of Return would you have been happy with. What are the normal and good rates of return in the market?
When you pass out in 2009, unless the economy sinks into a 1930s kind of depression or even the 1988-90 kinds, you should at the very least make 4 lakhs p.a. Assuming that this 8 lakh is the principal which can never be gotten back, you have just bought a fund which gives you 50% interest in Year 1 and it's an expanding balloon where the returns will keep increasing for the next 30-35 years. And don't forget, 4 is the bare minimum we are talking about!!
Q. If you are creative you can rise to the top through this course. Is it true? If yes how?
- No, this course is not about "creativity". (PGPCM) You will be working as Brand Managers/Account Executives/ Research Associates/Media Planners etc after this programme - so while you may remain in close association with creatives, you will yourself not required to be one. Of course, a bit of creativity helps one everywhere - but the primary answer to your question is NO.

Q. For lateral placements what docs are needed?
- Certificate of Work Experience besides the regular documents. Nothing special, i guess.

Q. Since I am in the bond period my company can demand the huge compensation so is it advisable to pay them and get the work ex certificate or salary slip and bank statement will be sufficient docs for lateral recruitment?
- It's always advisable to remain on the right side of things, however for this question I'd suggest you take the advise of your friends and parents/relatives also.

Q. I have work ex of 21 months till April. Will it count for lateral placements?
- Yes, of course. Why did you doubt? ( Unless it's part-time or was done along with your studies or before your graduation)
( The advise and the answers given here are general in nature. They may not apply to every single case, so you would be advised to factor in your own peculiar circumstances and take a second opinion)

1 comment:

Neeraj said...

Thanks a lot.
It helped very much.