FPM-12

Re: Fpm 2008 - 21-04-2008, 11:37 PM

Quote:

Originally Posted by tushar_agarwal03

I too got admit into Finance and control FPM IIM B. I wanna do P.Hd but sometimes gets apprehensive on realising tht it's 4 yrs--- do suggest what's ur take on it. Rajiv

Cong @tushar...!
i wud give my take, but i request ppl showing up here, who are in a position to comment/contribute; to do so, plz puys, all who asked around, do contribute back...dont forget ur alma matter yet...


Finance & control is a gud area, and i think there is a guy called narayanaswamy or something who is reputed for finance in IIMB (just confirm it!)...the general market for finance is on the high, financial products are always in the offing, foriegn banks wud be turning up soon & the market is getting ready for a churn. So in short, finance as a field is booming across B-Schools and is a sought after area by many and it is a field within mgmt disciplines, where theory is as important as practice...

But, there are some questions u or any FPM aspirant shud ask themselves:
Am i looking for FPM for getting into the job market in finance area after sometime?

If the answer is yes- u shud search whether the FPM's in finance are sought after by the recruiter & the work profile that u r aiming for (i do not know that, u will have to search it out for urself)...

My gut feeling is that some financial back end research will surely be done by finance powered firms, but do they prefer an FPM over the CA's, ICWAI's, CS's, CFA's, CPA's, CMA's, MBA's in finance from top institutes et.al...this is a pretty important thing to consider before 1 decides on investing 4 years or more; we do not want to regret during the years at FPM or later....so better check out the facts, ask around friends/contacts in firms of ur choice, check out what past FPM passouts are doing, is it in consonance with what u want to do?

Are you looking for an FPM to learn Finance so that u wud like to maybe work in the area for sometime & later turn to academics, since u have some interest in academics or wud like to turn to it after some time? - in that case, FPM might be an option for u, but make up ur mind before u take the final decision....

from what i have learned from talking to many FPM ppl and faculty at the top B-Schools in person: (by FPM ppl i refer to my seniors from IRMA who have in the past done their FPM from the IIM's & 4 of them who are doing their FPM right now- 3 in IIMA & 1 in IIMC + by faculty, my seniors from IRMA who are Prof's at the IIM's & XL right now....i have also interacted with lot of other FPMers in IIMs & XL & IIT & aspirants in the past few months in person & over the mail & over phone...so, i think the follo observations have some truth in them!):

FPM is primary designed to prepare ppl for mgmt faculty positions: the course design, the research rigour is designed to turn u into a researcher who gets to love doing original research. The basic design of the course is:

• the 1st year u do the course work with the PGP's,
• the 2nd year u take some electives in ur area of choice & do some advanced research courses, and do a lot of literature survey...mind u, this is LOT OF LITERATURE SURVEY!!! - ask around to believe the sheer quantum...
• at the end of 2nd year & beginning of 3rd yr u have to write area qualification exam & clear it
• the 3rd year u start on ur topic, identifying area of research, preli work in the same....
• 4th year u do the research work, data collection, analysis....
• ........thesis defence....report....final awarding....!

now dont expect the FPM to get over on dot at the end of the 4th yr like the MBA at the end of 2 yrs, ask around & u will discover that 4 years is the exception rather than the norm! there are very exceptional few who complete the whole process in 4 years! there are lot of re-working & frustruation that u wud have to go thru at each stage of the FPM program and so due to valid reasons, the date get extended....the average time would be nearer to 5 years than 4 years to complete the entire process if u take the reality into consideration.

Now given that the above is the reality (ask around, download & read the FPM broshures, course requirement details etc before u believe what i told above!), 1 shud be ready & fully prepared before they venture into this step.

I will tell u some of the usual happenings/reason for some of the drop-outs the institutes see every yr: (the things said below wud be more applicable to ppl who wanted an MBA, but since they did not get the same, settled for FPM- no offence meant, it is the truth!):

• The aspirant is initially enamored at the brand image and is overjoyed to be at 1 of the most sought-after places, but once u r inside the place, it soon wears off- time limit- 6 months max!....
• Slowly reality begins to set in, u wud still get a high whenever u meet someone outside/family re-unions etc., but only u wud know the reality, and that too, u wud only know once u r inside for a reasonable period of time...
• Believe me, FPM is not the flagship course at the IIM's & the other top places in India & research is not that gr8 an area of focus in the top institutes in India- for the general student community or even for the faculty (what i said is the sad truth, which is rarely spoken- but if someone wants evidence, look at the International research output/publications by the top mgmt institutes in India & compare it with the research output of IISC or JNU- let alone the top mgmt institutes in the world!- i am not saying that the indian mgmt institutes dont produce research material for international peer reviewed journals- but the quantum is unbelievably meagre in comparison)....reason is research & publication is an ardous route, whereas the top mgmt institutes attract lot of consulting & training options and when those areas are concentrated at, research suffers!

Plz understand that FPM students are primarily research students- so, if the focus of the institute is not research, the primary parties to suffer wud be them- explains the low research grants, scholarships etc that are available in Indian mgmt institutes vis-a-vis those abroad...

The reality is again that unfortunately (most of) the PGP students do not consider the FPM ppl to be their equals let alone superiors; i am sure there are exceptions, but not the norm...the same attitude would be visible from some other quarters also & the FPM student shud be willing & prepared to fight it out in the grades & other arenas that he/she is as good as any other...and also show a greater level of maturity...after all they are Research Scholars !

The first 2 years would generally pass quickly with ur PGP batchmates, suddenly the placement season sets in, the mood starts to change...the PGP's are suddenly busy preparing for the interviews....they are not available till the fight is over! .....finally they emerge with salaries that might move any human being, however strong/determined he/she professes to be (believe me, it even moves some of the profs )....if u r someone who wanted MBA but ended up taking FPM, this wud be the time reality will bite u the deepest! if u dont agree with me now, come here to this thread & re-read it after 2 years, and see what u think of it....i know it is a bit sad, but sometimes reality bites!

But does that mean that such a person wud not be able to survive? not so!
now here there are 2 categories of ppl:

• 1 category who are absolute freshers, who are pretty young- they would do a calculation- and realise that they have not lost too much time, they would be still able to start out their careers at 25 etc & still climb the ladder & catch up with these same guyz later! so they tuck down their disappointment, takes a firm resolve to persevere & from then on...they would be more focussed....
  
• 2nd category- who came in after some work, who suddenly realise that they had plunged into this in the midst of a crucial period in their career (this would be especially ominous if u are not yet married! ) - u suddenly realise that some of the best years are passing by & one wonders, even if 1 goes back to the job market, will they be able to survive- they wud have lost some of their vigour & dynamism after 2-3 years of free food & slow 'research' pace, compared to the hectic work pace they were used to! - these might the ppl more susceptable to jumping out of the course...since a sudden desp feeling dawns and there is an urge to do something about it before things become too late....
  
• there is 1 more catergory of ppl who would have both young & oldies in it and who realise that maybe they have made a mistake if looked at in certain ways, but decide that they will persist anyhow....this would be the majority category- but they wud have had some heartburn to deal with, but they will swallow the bitter pill & live with it...

....all types of ppl might join the FPM with divergent tastes, but at the end of the 3rd & 4th year the following transformations take place:

1. knowingly or unknowingly u become research oriented and gets an academic bend of mind...
2. you learn to swallow ur pride & live with some regrets...till it does not matter that much...
3. you start writing, attending reseach gatherings, starts liking MAGGY noodles , learning to live with meagre resources, starts becoming philosophical et. al (to identify such a state- if u notice that ur friends have started avoiding u or ur gf complains that u r speaking too much... et.al -more symptoms have been identified- for expert analysis, consult Ph.D comics!!! )
4. you become slightly less ambitious, you mature, you walk slowly, dont shave that frequently, sheds hep cloths & take a liking to less flashy stuff, start enjoying light music & old songs to hi-fi heart-throbing bollywood beats... (if u r reading it now & can identify with what i say, i would vouch that u r already a researcher or a Ph.D student -else- beware! u might become 1 very soon... :laugh....

Once u have gone thru the above process, it is sort of irreversible, the FPM process has succeeded! Now even if u go to the corporate, u wud not find it very much to ur liking...somehow u wud want to work in the research wing of the firm...though they try to put u elsewhere....u wud find that things are not as scientific/methodical/analytical as u wud like it to be...and 2 things happen:

1. either u decide and reconsile urself to the reality of the world Vs the ideal research world which u saw during ur FPM days where u debated endlessly over the acuracy of some useless data/info....and wud get ready to adjust & accomodate to the corporate world- this person would be a wise person, who would be very patient (after dealing with 4-6 years of torture (read FPM!) ) , would be very understanding, would be able to make very wise looking presentations & speeches (punchuated with pertinent pauses & modulations- honed by his/her FPM training), would be able to adjust to any conditions without complaining (u know after what! )....and would stay committed to the firm inspite of umpteen number of valid & invalid reasons for moving out of the firm (& i guess u know where he/she got the staying power from...) ...ideally he/she wud make excellent CEO material, only if they learn to be more assertive & dynamic (which they forgot during FPM) in the course of their new career- if so, they would ultimately become the head of the firm (or somewhere close...).
   
2. But the majority wud get frustruated after sometime & they would crave for the ingrained perfection (like the perfection of that logistic curve the thesis guide kicked forcefully into their brain...) ), they would long for the peaceful and serene atmosphere at the B-Schools....the silent libraries, the celebrations, the Maggy noodles, the wiling away & chit-chatting & gyan giving that they did in the past....! this would go on and will start gaining momemtum slowly...till they would start seeing visions of the same...suddenly 1 fine day it happens! :idea: Eureka! :idea::idea::idea:

• how would i like to have ppl (students) lining up outside my cabin waiting for my 1 node of approval, how i would like to enjoy peace & quiet (like what i observed in my profs), how i would like to finally enjoy family life & would like to have time for my wife & children :huh: , how i would like to enjoy listening to intellectual discussions & debates for hours together....:bigear: - it all adds up! :idea: I SHOULD BECOME A FACULTY! i should go back, i am made for this (or was moulded into this across the 5-6 years )...ya, maybe i will get lesser money, and i might hate myself for it, but i think- that is what i am, what i would like to be

SO THE MORAL OF THE STORY:
See where u wud fit in, decide where u wud like to go & ur priorities for life before u venture in, or if u feel that u cud venture a try anyhow & can come out after sometime, do try it out- but in that case come out before u r 'Converted' by the process! or before it is too late.....:laugh:

The above is written for myself & for all the present & future generations of FPM aspirants to help them in their thought process....but do remember, convincing urself is 1 thing, convincing ur dear & near ones is a totally different story! u wud be logical, they might not; u might be converted by the 'Thesis' & the 'Process'- but they are in the 'real' world- and outside the 'influence' they wud like money & luxuries & pleasure like all those who are exposed to the 'normal' world- in fact they might not enjoy ur philosophical musings and might say that u have changed for the worse & is giving gyan without being asked for it (in case u see the same in me, u know that i am almost in the state even right now!- and if u r also the same, u r an ideal FPM candidate )

Disclaimers:

• The above things do not apply to normal Ph.D's- that u can do in 2 yrs time, without much heartburn, from a relatively good place! if anyone who wants to do FPM, just to do a doctorate to help u get into a teaching job and is not ready for enduring 'torture'- kindly look at the Ph.D option- it is good enuf!
• The above things are copyrighted by me and is a new form of writing- mixing reality with fiction with musings with catharsis (u wonder at times who is speaking about whom! ) - u can quote it, with suitable credits!
• You cannot hold me liable for incurring heartache & lose for acting upon the above write-up...

John.... P.S: will the above qualify for publication in a peer-reviewed journal somewhere?

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...for I am crucified with Him...