Banking and Finance is one of the most sought after roles at a B-school campus, perhaps second only to management consulting roles that have an equally (if not more) glamourous aura about them. At top B-schools such as the IIMs, FMS Delhi, MDI Gurgaon, JBIMS Mumbai etc., Finance roles have been the most desirable for students, as is clear from the placement reports of these institutes.
The InsideIIM Recruitment Survey series takes a look at the most desirable recruiters across various industries and hiring for various roles, the career expectations and preferences of current MBA students and post-MBA professionals, and the thought process of MBA aspirants around B-school selection and what drives them to pursue an MBA.
The InsideIIM Recruitment Survey has revealed that over the years, within the BFSI sector, bulge bracket investment banks such as Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America (previously Bank of America Merril Lynch), etc. have dominated the rankings for the Top-10 Most Desirable Banking & Finance companies. But will they continue to dominate this year as well? Or will the tradition be disrupted?
Highlights of the survey
Goldman Sachs and Morgan Stanley are the most desirable Banking & Finance companies for all three segments of respondents, i.e., MBA aspirants, students, and alumni.
For MBA students and alumni, Venture Capital firms such as Sequoia Capital, SoftBank and Kalaari Capital have risen to prominence and, in some cases, have surpassed giant investment banks and also the World Bank, one of the most desirable multilateral organisations to work with (based on historical data). Another interesting observation is that Avendus Capital is the only Indian firm to feature in the Top-10/11 for current students and post-MBA professionals. For the past 1-2 years, Avendus has been rising up the ranks and has become the most desirable Indian Banking & Finance company to work with.
The rankings for MBA aspirants are driven by brand equity and are not likely to be based on extensive research and communication with professionals working at these organisations. These rankings are a good indicator of the brand presence in the minds of prospective management students. This also explains why aspirants are driven to rate legacy brands such as Goldman Sachs, American Express, JP Morgan, Morgan Stanley etc. higher than Venture Capital firms such as Sequoia, SoftBank, Blume, and Kalaari - firms that don't even feature in the Top-25 for MBA aspirants.
Current MBA Students
When compared to the rankings in the previous years, the Top-10 for B-school students remain more-or-less the same, with 3 of the largest and most well-known investment banks maintaining their stronghold as the most desirable Banking and Finance recruiters on B-school campuses. However, some interesting observations can be made based on comparison with previous years' data.
Venture Capital firms have become some of the most exciting places to work in for MBA students, with Sequoia Capital debuting in Top-10 of the InsideIIM Recruitment Survey. Sequoia Capital has been one of the biggest investors for some of India's top startups. "We help the daring build legendary companies,", and MBA students clearly want to be a part of a VC firm that is instrumental in doing that.
To further demonstrate the popularity of Venture Capital firms, it must be noted that while not in the Top-10, Masayoshi Son's SoftBank is ranked #12 in the list of the most desirable Banking & Finance companies to work with. SoftBank is one of the largest investors in highly successful startups across the globe, and have announced their intention of establishing a firm presence in India by opening their first Indian office in Mumbai, after having invested $8 billion in Indian startups. The Japanese conglomerate has also roped in some top executives from top companies to lead their India operations.
With such immense success in rankings for both these debutants, is it possible that in the future editions of the InsideIIM Recruitment Survey, traditional corporate banks will be replaced by VC firms in terms of preferences for MBA students?
Also to be noted is that, Avendus Capital, for the first time since the inception of the InsideIIM Recruitment Survey, is the only Indian company to feature in the top-10 most desirable Banking & Finance companies to work with for MBA students in 2018.
Also read our report on - How Can Campus Recruiters Make The Hiring Process Better At B-schools? - MBA Students Speak
| The Most Desirable Banking & Finance Companies For Current MBA Students |
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| Rank | Bank | Nationality | Desirability Score |
| 1 | Goldman Sachs | Foreign | 8.88 |
| 2 | Morgan Stanley | Foreign | 8.86 |
| 3 | J.P.Morgan | Foreign | 8.7 |
| 4 | Bank of America Merrill Lynch | For | 8.48 |
| 5 | Credit Suisse | Foreign | 8.45 |
| 6 | Sequioa Capital | Foreign | 8.41 |
| 7 | World Bank | Foreign | 8.38 |
| 8 | Avendus Capital | Indian | 8.36 |
| 9 | Barclays Capital/Bank | Foreign | 8.32 |
| 10 | Deutsche Bank | Foreign | 8.17 |
Indian Banks
When it comes to Indian banks, YES Bank and Kotak Mahindra have slipped in rankings and have been replaced by Aditya Birla Capital and JM Financial. The top-3 remain identical as compared to the previous year.
ABG, one of India's largest conglomerates, has already featured as one of the top recruiters for General Management roles, and its financial arm, Aditya Birla Capital, is one of the most desirable Indian companies to work with in the BFSI sector.
Also read our report on - Minimum Post-MBA Salary Expectations of MBA Students, Preferred Work Destinations For MBA Students & Alumni
| The Most Desirable Indian BFSI Companies For Current MBA Students |
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| Rank | Bank | Nationality |
| 1 | Avendus Capital | Indian |
| 2 | Edelweiss Capital | Indian |
| 3 | SEBI | Indian |
| 4 | Aditya Birla Capital | Indian |
| 5 | JM Financial | Indian |
MBA Alumni
Goldman Sachs has seen a resurgence in desirability for MBA alumni, as the investment bank is the no.1 Banking & Finance company to work with for them. After slipping out of the Top-3 in 2017, GS has re-established its position on top of the list. This is actually the first time that Goldman Sachs has held this position in the history of the Recruitment Survey series.
One of the biggest gainers in the Top-10 this year has been the Barclays Bank. The biggest drop in ranks has been experienced by the Carlyle Group, which was ranked No.1 in the Top-10 for 2017.
A very interesting observation is that MBA alumni, much like their juniors currently studying in B-schools, have shown a very steep inclination towards working with VC firms, so much so that Sequoia Capital has now surpassed major investment banks and a multilateral organisation to become one of the Top-3 most desirable Banking & Finance companies to work with. Also in close pursuit is SoftBank, which missed out on the Top-10 spot for MBA students but has a very strong presence in the minds of MBA alumni as one of the Top-5 most desirable BFSI companies to work with.
The Avendus Group has missed out on a Top-10 spot by the smallest of margins and is one of the most desirable Indian finance companies to work with.
When looked at holistically, the results of the survey for students and alumni are quite similar, which could hint towards MBA students forming preferences for BFSI companies based on the opinions of their seniors perhaps already working as executives at top banks and NBFCs.
Also read our report on - How Satisfied Are MBA Alumni With Their Post-MBA Jobs?
| The Most Desirable Banking & Finance Companies For MBA Alumni |
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| Rank | Bank | Nationality | Desirability Score |
| 1 | Goldman Sachs | Foreign | 8.00 |
| 2 | Sequioa Capital | Foreign | 7.76 |
| 3 | Morgan Stanley | Foreign | 7.68 |
| 4 | Barclays Capital/Bank | Foreign | 7.64 |
| 5 | Softbank | Foreign | 7.60 |
| 6 | World Bank | Foreign | 7.52 |
| 7 | Citi/CitiBank | Foreign | 7.48 |
| 8 | Carlyle Group | Foreign | 7.44 |
| 9 | J.P.Morgan | Foreign | 7.32 |
| 10 | UBS/Invst Bank/Wealth Management | Foreign | 7.28 |
Indian Banks
There has been some shift in preferences for Indian banks. Aditya Birla Capital, SEBI and Kotak Mahindra have slipped out of the Top-5 and have been replaced by Blume Ventures, PayTM and Langham Capital.
Blume Ventures is an early stage VC firm that has invested in multiple Indian startups such as Unacademy, GreyOrange etc. The preference for VC firms continues with Indian BFSI companies as well, and this is corroborated by the presence of Kalaari Capital in the Top-6 most desirable Indian Banking & Finance companies.
PayTM, which topped the list of the most desirable Indian BFSI companies in 2016, has made a comeback in 2018 to become one of the top-3 most desirable companies to work with.
You may also like to read our report on - The Most Desirable Consulting Firms in 2018
| Most Desirable Indian BFSI Companies For MBA Alumni |
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| Rank | Bank | Nationality |
| 1 | Avendus Capital | Indian |
| 2 | Langham Capital | Indian |
| 3 | PayTM | Indian |
| 4 | Blume Ventures | Indian |
| 5 | Edelweiss Capital | Indian |
MBA Aspirants
J.P. Morgan, Goldman Sachs and Morgan Stanley are three of the world's largest multinational investment banks. For the past-4 years, these three organisations have not slipped out of the top-3 most desirable BFSI companies for MBA aspirants, occasionally switching positions.
Also featuring, once again, in the top-5 is the World Bank. The multi-national financial institution has carved a space for itself as a top brand to work with and has featured in the Top-5 consistently for the past 3 years.
While current MBA students and alumni are more likely to base their company preferences on actual professional experiences and interaction with batchmates and seniors, MBA aspirants are more likely to be driven by brand equity. For instance, SEBI, the financial regulator for Indian securities market, may have made it to the Top-10 primarily because of its regular appearance in financial headlines, as it is missing from the list of desirable recruiters for both MBA students and alumni.
Another example is of Sequioa Capital, a VC firm that has funded many startups across the globe, is not even in the Top-25 most desirable BFSI companies to work with for MBA aspirants. SoftBank is not even in the Top-30, while Kalaari is not even in the Top-60.
Brand perception is built via platforms such as InsideIIM, where aspirants can access placements reports and summer internship stories to get an insider's perspective on the recruitment process at Indian B-schools.
Also read our report on - 'Why MBA' and Factors Important To MBA Aspirants While Selecting A B-school
| The Most Desirable Banking & Finance Companies For MBA Aspirants |
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| Rank | Bank | Nationality | Desirability Score |
| 1 | J.P.Morgan | Foreign | 8.94 |
| 2 | Goldman Sachs | Foreign | 8.88 |
| 3 | Morgan Stanley | Foreign | 8.79 |
| 4 | World Bank | Foreign | 8.61 |
| 5 | SEBI | Indian | 8.36 |
| 6 | Bank of America Merrill Lynch | Foreign | 8.3 |
| 7 | HSBC/Private Bank/ Securities | Foreign | 8.15 |
| 8 | American Express | Foreign | 8.09 |
| 9 | Deutsche Bank | Foreign | 8.03 |
| 10 | UBS/Invst Bank/Wealth Management | Foreign | 7.97 |
Indian Banks
When compared to the previous year, SBI Capital and ICICI Bank have exited the Top-5 but are still within the Top-10 Most Desirable Indian Banking & Finance companies. ICICI may have suffered some damage to its brand perception due to the allegations of corruption against the former CEO, Chanda Kochhar.
As has been the trend in the aforementioned overall rankings for MBA aspirants, the Top-3 consist of well-recognized brands such as SEBI, Axis Bank and HDFC, and Aditya Birla Capital.
You may also like to read our report - The Most Desirable Technology & E-commerce Companies in 2018
| The Most Desirable Indian BFSI Companies For MBA Aspirants |
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| Rank | Bank | Nationality |
| 1 | SEBI | Indian |
| 2 | Axis Bank | Indian |
| 3 | HDFC Bank/AMC/Securities/Standard Life Insurance ; Aditya Birla Capital | Indian |
| 4 | Yes Bank | Indian |
| 5 | Avendus Capital | Indian |
Overall Rankings
The overall rankings are an average of the desirability scores across all three segments of respondents to give an overview of which companies make up the MBA community’s list of the Top-10 most desirable BFSI companies.
Please feel free to let us know your views, queries and suggestions around this report in the comments below.
You may also be interested in reading the InsideIIM Alumni Report 2018 – Banking & Finance, which gives an in-depth idea of which BFSI companies the Alumni of top Indian business schools have been working in (As of June 2018).
| Most Desirable Banking & Finance Companies (Overall) | Most Desirable Banking & Finance Companies (Foreign Banks) | Most Desirable Banking & Finance Companies (Indian Banks) | ||||||
| Rank | Bank | Desirability Score | Rank | Bank | Desirability Score | Rank | Bank | Desirability Score |
| 1 | Goldman Sachs | 8.71 | 1 | Goldman Sachs | 8.709 | 1 | Avendus Capital | 7.87 |
| 2 | Morgan Stanley | 8.61 | 2 | Morgan Stanley | 8.606 | 2 | SEBI | 7.33 |
| 3 | J.P.Morgan | 8.49 | 3 | J.P.Morgan | 8.488 | 3 | Edelweiss Capital | 7.1 |
| 4 | World Bank | 8.27 | 4 | World Bank | 8.268 | 4 | Aditya Birla Capital | 7.08 |
| 5 | Bank of America Merrill Lynch | 8.17 | 5 | Bank of America Merrill Lynch | 8.165 | 5 | JM Financial | 7.02 |
| 6 | Credit Suisse | 8.03 | 6 | Credit Suisse | 8.031 | 6 | Blume Ventures | 6.87 |
| 7 | Barclays Capital/Bank | 8.02 | 7 | Barclays Capital/Bank | 8.024 | 7 | CRISIL | 6.85 |
| 8 | Sequioa Capital | 7.98 | 8 | Sequioa Capital | 7.976 | 8 | Langham Capital | 6.82 |
| 9 | UBS/Invst Bank/Wealth Management | 7.92 | 9 | UBS/Invst Bank/Wealth Management | 7.921 | 9 | Kotak Mahindra Bank/Kotak Investment Bank/Kotak Securities | 6.72 |
| 10 | Deutsche Bank ; Avendus Capital | 7.87 | 10 | Deutsche Bank | 7.866 | 10 | SBI Capital ; YES Bank | 6.67 |
Read all reports in the InsideIIM Recruitment Survey (2018) series here.
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Comments
ganesh menon
hey there mba aspirant here ddd d f f d
Thanks for this great info
19 Mar 2019, 01.48 PM
+Read Replies (1)
Team InsideIIM
We are the team behind your favourite platform.
Hi Ganesh Glad you found this useful!
19 Mar 2019, 02.37 PM |