Consulting is in
Apropos of the column from The Economist, published in FE, “Banks? No, thanks!”, for graduates of the world’s leading business schools, investment banking is out and consulting and technology firms are in. From leading business schools in the world to even some top ones in India, this new trend is being noticed. In fact, a study shows that while in 2007 as many as 46% of London Business School’s MBA graduates got a job in financial services, in 2013 just 28% did, with investment banking taking a lower share even of that diminished figure. At the University of Chicago’s Booth School of Business, the percentage of students going for jobs in investment banking has fallen from 30% in 2007 to 16% this year. Another thing to be kept in mind is that even if investment banks were still able to offer the financial rewards they once could, students’ priorities seem to be changing. Today, across the best global business schools, less than 5% of the students say that higher pay was their most important consideration when deciding to enrol at a business school, far behind factors such as “to open new career opportunities” (58%) or “personal development” (15%). Soon enough, such trends will be apparent in most Indian business schools. It’s just a matter of time.
Bhopal Singh Verma, Gurgaon

Now, the next innings
The Congress is going through a rough patch, as all parties in a healthy democracy do. While the Opposition Congress must act its age, unlike the BJP earlier, to establish its original credentials and showcase itself in the process, it has much to do internally. Regional satraps of Congress had vested authority on the “high command” to end perennial infighting and willingly share the denial of the top chair. The dynasty came in handy and the arrangement functioned till its president produced results. However, with the Jagan Reddy’s rebellion after YSR’s death, the weakening of the Congress had begun. The illness of Sonia Gandhi then took away the binding glue and too much was expected from Rahul Gandhi. The swift rise of the BJP could give the needed fillip to others to consolidate. The Left parties are already doing that. There is every reason for the Congress, too, to repair itself. How quickly this gets done depends on how eager it is to sink their internal differences and anoint an able captain and be back to winning ways. It must think ahead for the next innings. The strength of the Congress lies in its experience and good bench strength. In contrast, these will remain the major weakness of the BJP, for a while.
R Narayanan, Ghaziabad