Banks, accounting firms now hire undergrads too

Medimanage.com, a company that undertakes work outsourced by insurance companies, has recently approached SK Somaiya College of Arts and Commerce at Ghatkopar with a unique offer: They want six undergraduate students for a part-time job at their office.

The students will be required to work as data entry operators for 4-5 hours a day, and are expected to know MS-Excel. The salary is yet be finalised. Principal Sangeeta Kohli, who is surprised with the offer, says: “Many of our students are from the lower middle class. They request us to provide some part time work at campus, but unfortunately we can’t help them. I am happy that with this offer at least six students can be helped.” The college is now preparing a list of likely candidates, and is going to request the company for more such jobs.

Mulund College of Commerce has received similar offers by three chartered accountancy firms. This is the first time that the college has received part time job offers for first- and second-year BCom students. Another suburban institute, the Nirmala Foundation Memorial College in Kandivali, has been approached by Shamrao Vithal Cooperative Bank. The bank has created small projects (45 days to two months) for first- and second-year BCom students: updating customer details, SMS alerts, net banking and credit cards. The remuneration offered is Rs5,000 a month. Interestingly, campus placements for final year students are yet to start.

The lack of employability of Indian graduates has been a matter of concern for industries for quite some time now, but such offers can help change that. Students get first-hand practical knowledge at the industry even as the industry gets affordable labour without any liability. A new recruit with a BCom degree expects Rs10,000-12,000 and even that is after some training.

“This is a win-win situation for companies and students both. I wish more companies come forward,” says Madhu Nair, principal of Nirmala Foundation. Adds vice principal of Mulund College, Dhananjay Deshpande, “Youngsters will have industry knowledge before they graduate. This will add to their CVs and increase their value in the job market. Besides, the same company may hire them in future.”

There were a few such offers for undergraduates during the global slowdown of 2008-09 too, but the kind of work offered to students was of a much lower grade, says Kohli. “Students were asked to do market surveys and sell insurance policies, which turned out to be hectic along with managing their studies. We had to discontinue such jobs.”

Dahanukar College in Vile Parle also received two such offers, but Principal Madhvi Pethe says that students are unlikely to take such jobs “as most of them are high profile”. South Mumbai colleges denied receiving any such offers.