Increased B-School Recruitment by Real Estate Developers
Over the past couple of years, prominent real estate developers in India, including Lodha, DLF, Unitech, and Raheja, have significantly amplified their presence on business school campuses. This strategic move aims to cultivate a more professional image for the real estate sector and coincides with the burgeoning interest of business school graduates in real estate careers. These companies are enticing students with the allure of promising career paths and competitive compensation packages. Typically, they seek candidates with prior work experience, enabling them to assume relatively senior positions within two years.
Competitive Compensation and Senior Roles
Lodha, recognized as one of the highest-paying companies on campuses, extended offers in the range of Rs 16 lakh per annum. This reflects a broader trend among real estate companies to keep pace with the industry's rapid growth and bolster their organizational capabilities. To further enhance their strategic planning, Unitech has engaged McKinsey to conduct a study on achieving an optimal balance between professional and family workforce.
Professionalization of the Sector
R Nagaraju, Unitech's general manager of corporate planning, stated, “Although family continues to handle board level positions, senior strategic positions were taken by professionals. There is a higher level of delegation now at the professional level.” This year, Unitech recruited approximately 15 students from prestigious institutions like the Indian Institutes of Management (IIMs) and the Indian School of Business (ISB), mirroring the previous year's recruitment numbers. Given their positive experiences with Indian real estate majors, business schools are now actively seeking to attract foreign real estate companies, particularly those based in Dubai and Singapore, as potential recruiters. Several schools are already strengthening ties with existing players in the global real estate market.
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