Pressure Cooked Indian Startup Giants
Working with startups can be a great learning experience, particularly for aspiring entrepreneurs but they must weigh the associated pros and cons carefully before putting their career at stake. Flipkart is one of the very few Indian companies who get the Day One campus placement slot across IITs (except IIT Bombay) and IIMs along with tech giants like Google and Microsoft. Goes without saying, the competition among recruiters to hire the sharpest brain is intense.
In the recent past, startups looked promising and were even able to raise funds from investors have bitten the dust. For example Zomato, Foodpanda, TinyOwl, Housing.com and, Grofers, etc. are still fresh in public memory although they have down sized their presence in cities. Some smaller startups have also deferred or even withdrawn offers after initially recruiting students. Passouts from top notch institutes getting joining dates deferred, even before they could have joined should come as an eye-opener for all.
Flipkart’s response on this has been appalling too. They said they had already taken into account the loan repayment aspect before announcing their decision to defer the joining dates. They went on to explain that loan repayment starts a year after the end of studies or six months after the student gets a job, whichever is earlier, thereby suggesting the affected students to submit their revised offer letters to the bank.
In a scenario like this, it is essential for all students to have a fall back plan. With uncertainty prevailing and obscenely overvalued companies sinking every other day, even the big and ‘reputed’ names should not be taken for granted. For those who want to play safe, well-established companies which are past their aching troubles are best, even if they pay less.
It won’t be bad to say whether or not the Flipkart is stripped off its hallowed Day One status. The students who should have been on cloud nine after graduating from India’s most coveted institute are waiting with bated breath to see what the future holds for them.