An OverviewOF

THE FACULTY PROMOTION SYSTEMOf North South University

AND

THE JOB MARKET OF BANGLADESHAt present and also after 10 years

MGT 351 - 1

An OverviewOF

THE FACULTY PROMOTION SYSTEMOf North South University

AND

THE JOB MARKET OF BANGLADESHAt present and also after 10 years

P R E P A R E D F O R

Faisol Chowdhury

Faculty

School of Business

North South University

P R E P A R E D B Y (STUDENTS OF MGT 351.3)

Abdullah Al Habib (ID # 071 398 030)

K (ID # 071 125 030)

Touhidul Huq Khan (ID # 071 627 030)

Md. Rezwanul Hoque (ID # 072 185 030)

Shohan Ahmed (ID # 073 337 030)

April 04, 2010

MGT 351 - 2

TABLE OF CONTENTS

1. Introduction………………………………………………………………1-2

1.1 Origin…………………………………………………………………………………1

1.2 Objective………………………………………………………………………...……1

1.3 Scope………………………………………………………………………………….1

1.4 Methodology…………………………………………………………….……………2

1.5 Limitations and Assumptions………………………………………………...……..2

2. Theoretical Perspective…………………………………………………..3-5

3. Analysis and Findings…………………………………….……….……6-18

3.1 The Faculty Promotion Process in NSU………………………..………….……6-14

Company Profile………………………………………………………...………….6-7

Ranking structure………………………………………………………….…………8

Faculty duties and responsibilities……………………………………….…………..9

Criteria for Promotion and appointment……………………………..…………10-11

Procedure for applying for promotion and appointment……….…….……………12

Process Effectiveness and Drawbacks………………………….………….………13

Recommendations ……………………………………………….…………..……..14

3.2 The Job Market of Bangladesh ………………………………………..…………..15-18

The Current Successful Industries………………………………………………….15

Most Demanding Job for Young Graduates……………………….……………….16

Industries with Future Prospect…………………………………….………………17

In future the Most Demanding Job (After 10 years)……………………………….17

Career Plan…………………………………...……………………………………..18

4. Conclusion……………………………...………………………………….19

5. Reference…………………………………………………………….……vii

MGT 351 - 3

EXECUTIVE SUMMARY

This paper has been prepared based on information gather from personal interview of volunteers

and with the help of secondary materials.

The first part of the paper discusses about the faculty promotion process at North South

University. It discusses in general, the various designations of faculties at a university, the

various duties and responsibilities that are associated with the different designations and finally,

the criterion required to get promotion by a faculty from one designation to a senior designation.

Moreover, it elaborates the promotion process as well as the appointment process for faculties at

North South University and identifies the strengths and weaknesses of those processes. Based on

the strengths and weakness, conclusion has been drawn regarding the effectiveness of the

promotion process of faculties at North South University. Last but not the least;

recommendations have been given regarding the promotion process based on the evaluation and

conclusion drawn on the promotion process.

The second part of the paper discusses about the current job market of Bangladesh in respect to

young graduates as per our understanding of the current job market as well as career plan for

business graduates. Successful industries such as Banking, MNCs and Telecommunication are

among top industries where graduates are looking for jobs, according to them most demanding

job currently is the position of Management Trainee Officer. Further discussions in this part

consist of industries in Bangladesh that have future prospect like local conglomerates and

corporate giants and considering the growth of those industries what will the most demanding

jobs, after 10 years. A brief career plan for a business graduate is also discussed in the report.

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1. Introduction

1.1 Origin

The report is prepared on the basis of instructions given by Muhammad Faisol Chowdhury,

instructor of the course ‘Introduction to Human Resource Management’ (MGT 351)’. It is

prepared by a group of five students of MGT 351 based on the topic assigned to us by our

respectable faculty. Our topic was to understand and analyze the promotion process and the job

market of Bangladesh in respect to young graduates. The required data both from primary and

secondary sources where collected from various mediums.

1.2 Objective

The objective of this report is to gain an idea about the different HR issues that is discussed in

class, like promotion processes, succession planning and the individual goals employees. The

report will broaden our knowledge and will help us to understand the different Human Resource

issues better. The project is done in the context of the data found from our research. The project

can be divided into two parts as discussed earlier

Part 1 – The Faculty Promotion Process in North South University

Part 2 – The Job Market of Bangladesh

1.3 Scope

For the first part of our report we are assigned to analyze as well as give recommendation and

suggestion if necessary on the overall promotion process of North South University. We are to

discuss the different ranking structure that North South follows as well as the requirements to get

promoted to each of the ranks. The second part involves our own ideas and thoughts on most

demanding jobs for young graduates and a career plan based on our understanding of the job

market of Bangladesh

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1.4 Methodology

Primary data for the report was acquired by interviewing three of the respected North South

University faculties as per the instruction and guidance of our instructor. The interview was done

in order to get a complete idea about the faculty promotion process at North South University

that is to understand the different ranking structure and the requirements to get promoted to each

of these ranks. We also got valuable information on the current job market of Bangladesh from

the faculties. Primary data for the second part of the report was gathered by informally

interviewing Human Resource managers from different organizations.

Secondary data for this report regarding the promotion process and the current job market of

Bangladesh was collected from different web sites and e-articles, books as well as newspapers

and magazines.

1.5 Limitations and Assumptions

Unavailability of data was a major constraint in the project preparation. Sufficient accessible

data would have helped for a better in depth analysis of the topic and possibly more accurate

findings

Time constraint was a key obstacle in our preparation of a thoroughly researched project.

Due to lack of available time we had to make do with only the available information and not

go for more extensive data.

Arranging the faculty interviews was difficult since the faculties were busy throughout the

day; it was tough on their part to give us time for the interview.

The faculty ranking system discussed in the report is based only on the promotion and

ranking system of School of Business (BBA) of North South University.

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2. Theoretical Perspective

Promotion

A promotion is the advancement of rank or position in an organizational hierarchy system.

Promotion may be an employee's reward for good performance i.e. positive appraisal. Before a

company promotes an employee to a particular position it ensures that the person is trained to

handle the added responsibilities. This is marked by job enrichment and various training

activities. A promotion can involve advancement in terms of designation, salary and emoluments

nature of job or what the job can be described as.

The promotion is based on the skills, knowledge and other capabilities of the employee as well

as the performance and efficiency of the employee in achieving the organizational goals.

Usually, the job duties and responsibilities along with authority of the employee increases with

promotion.

Faculty Ranking System

The faculty ranking system is the academic ranks that are typically used in most universities, in

order to distinguish the faculties based on their skills, qualifications and sometimes duties and

responsibilities. The most typical faculty ranking system has both tenure-track and tenured

faculty who pursue both teaching as well as research depending on the primary focus of the

institution. The most common ranks in the faculty ranking system are as follows: Instructors,

Lecturers and Professors. These categories may be subdivided into the formation of other ranks,

such as Assistant Professors and Associate Professors.

The ranks are usually used as a title and a chaired position in the universities which decides the

salary structure as well as other benefits and incentives.

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Career Plan

It is an action plan that is developed in order to attain career goals of a person consisting of the

different occupational positions the person wants to have over time based on person’s

perspective of the current job market and the awareness of person’s own skills, interests,

knowledge, etc. In the career planning most people tends to undertake occupations for a

significant period of the person’s life if it offers opportunities for progress.

The types of jobs in a career plan is based on the strengths and weakness of the person as well as

the market demand for the skills, abilities and other qualifications of the person. The time

horizon for the achievement of the selected goals or objectives in the career plan will have a

major influence on its formulation.

Job Market

The job market is a market in which employers search for employees and employees search for

jobs, it consist of the overall workforce of the country and the jobs available within the national

borders. The job market is not a physical place as much as a concept demonstrating the

competition and interplay between different labor forces. The job market can grow or shrink

depending on the labor demand and supply within the overall economy, specific industries, for

specific education levels or specific job functions.

The job market is directly related to the unemployment rate. Higher the unemployment rate

means that supply of labor in the overall job market has also risen. When employers have a

larger pool of applicants to choose from, they can be pickier or force down wages. As the

unemployment rate drops employers are forced to compete more heavily for available workers,

which has the effect of increasing wages, in other words it follows the laws of demand. The

workers and employers attempt to understand the resulting pattern of wages, employment, and

income, which is based on the supply-demand of labors.

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Salary Structure and Compensation

Salary structure is the total remuneration including both monetary and non monetary rewards

provided for the services or work done based on the employee’s position, performance, duties,

responsibilities, etc. Salary is the annual payment for performing the job and employee benefits

are various non-wage compensations provided to employees in addition to their normal wages or

salaries.

Performance contingent compensation – when individual employee pay is determined on

sales commission, merit based, performance based, experience or skills based. Pay

increases when the employee performs better.

Membership contingent compensation – when individual employee pay is same with

others (having similar job), as long as the employee achieves the minimum level of

performance standards. Pay increases by promotion.

Management Trainee Officer

Management Trainee Officer is a management development program that attempts to improve

current or future management performance by imparting knowledge, changing attitudes or

increasing skills of the employee.

It involves moving employee that is the MTO around a range of jobs usually in different

departments to provide them with greater task variety under direction of experienced personnel,

to gain knowledge and experience. Management trainees or employees with management

potential are usually moved from department to department to broaden their understanding of all

parts of the business. Dual benefit of making employees aware of all areas and activities

performed within the firm and of providing with greater responsibility.

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3. Analysis and Findings

3.1 The Faculty Promotion Process in NSU

Company Profile

North South University

North South University (NSU), the first private university in Bangladesh, was established by

North South University Foundation (NSUF) more than 17 years ago as a non-profit university.

The NSUF was created by a group of philanthropists, industrialists, bureaucrats and academics.

The founders of NSU have proved that high quality higher education can be provided in the

private sector and public–private partnership would meet the national demand for higher

education much faster and more effectively. The government of Bangladesh approved the

establishment of North South University in 1992 under the Private University Act (PUA) 1992.

Zillur Rahman, President of Bangladesh, is the Chancellor of the university. Dr. Hafiz G.A.

Siddiqi is serving as Vice Chancellor.

The university started its classes in January 1993 in 3 degree programs, namely, Business

Administration, Computer Science and Economics. Currently, the university offers a number of

undergraduate and master’s degrees in the fields of Business Administration, Computer Science,

Electrical and Telecommunications Engineering, Electrical and Electronic Engineering, Life

Sciences, Pharmacy, Environmental Management, Economics, English, Architecture, etc. It also

offers courses for general and continuing education. The university follows American system

with all its distinctive features—semesters, credit hours, letter grades, credit transfer, one

examiner system and so on. Its curricula, when first introduced, were reviewed by the relevant

departments of University of Illinois, Urbana-Champaign, and University of California,

Berkeley, USA. The university and its programs are duly accredited by the University Grants

Commission on behalf of the government of Bangladesh. Among its distinctive features are: the

quality of education it imparts, impressive credentials of its teaching staff, research facilities

supported by well-equipped labs and fully automated library and extensive internet connectivity

with global network.

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NSU currently has around 200 full-time and 150 part-time faculty members, all of whom, as a

requirement, possess postgraduate qualifications from abroad. The university maintains

academic collaboration with many reputed foreign universities. The credits obtained at NSU are

accepted in most of the reputable universities of USA, Canada, Australia and other countries.

NSU attracts foreign students from India, Pakistan, Sri Lanka, Nepal, China, Japan, Thailand,

Myanmar, Malaysia, Sudan, Saudi Arabia, Iran, Kenya and Nigeria. In addition, under the Study

Abroad and Group Exchange program, students from world-class universities of the USA and

Canada and institutions of other countries, attend summer semester at NSU and transfer credits

back to their parent institutions. NSU has also research collaborations with world class research

institutes, like International Center for Diarrheas Diseases Research (ICDDR, B), Dhaka in its

various academic programs in Biotechnology, Microbiology and Public Health.

NSU has become the first university that has fulfilled all the requirements and provisions of the

PUA 1992. The university's campus is located at Bashundhara, Dhaka, which has a 125,000sq.ft.

of floor space on 6 acres of land, with modern amenities and facilities. The university has its own

journal publication known as Panini.

Vision

The vision of North South University (NSU) is to become a leading university and remain as a

top center of excellence in higher education and research. It aims at attracting brilliant students,

teachers, scholars, and from all over the world.

Mission

The mission of NSU is to produce highly skilled manpower, visionary professional leaders and

responsible and enlightened citizens. This mission is achieved by imparting high quality higher

education, and training, and by conducting useful research so that individuals can achieve their

intellectual, social, and personal potentials. NSU is committed to developing human capital by

sharpening creative thinking. In addition to creation and dissemination of knowledge, its mission

includes promotion of humanism and peace through higher education. As a social institution,

NSU endeavors to induce changes for betterment of the society as a whole through public

services, and through promotion of ethical behavior and social justice.

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Ranking structure

Junior Lecturer

The initial stage of the faculty ranking system in North South University, usually the post is

filled by faculties, who hold a Master’s degree in any field from the local universities. This rank

is created in order to give the opportunity to the talented young instructors, graduating from local

universities to be a part of North South University. It is partly done in order to avoid indirect

discrimination to domestic post-graduates.

Lecturer

This stage of the ranking structure can also be considered as the initial or primary rank, since this

post is filled by faculties, who hold a Master’s degree in any field from any foreign university,

preferably from North American universities. A North American degree is preferred because

North South University follows a North American curriculum.

Senior Lecturer

Senior lecturer is the third level of the ranking structure and can be stated as the highest rank for

faculties holding only Master’s degree in any field from any foreign university. To get promoted

to this stage of the ranking structure faculties need to have teaching experience, usually lecturers

after successfully completing certain criteria are promoted to this rank.

Assistant Professor

This the introductory level for the professor ranks and also the fourth level of the academic ranks

followed by North South University. This position is generally taken by faculties who hold a

Doctorate degree in any field.

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Associate Professor

This is the mid-level of the professor ranks that can be attained, usually by the assistant

professors through promotion after successfully completing certain requirements and achieving

experience in teaching or similar experience.

Professor

This is the ultimate rank of an instructor that the North University faculties can achieve during

their tenure. It is the most senior and prestigious academic ranks that can be achieved by having

a Post Doctorate in any field.

Faculty duties and responsibilities

The faculties’ primary job duty and responsibility is to manage the teaching, by mentor young

aspiring academics, that is the young graduates in the relevant field as well as assess the

knowledge level of those graduates through necessary means, such as exams, reports,

presentations, etc.

Faculties need to conduct lectures in the relevant topics of their course curriculum and take 24

classes of one and half hour per semester per course and also have office hours of 3 hours per

week per course. If the faculty is taking more than one section for the same course then the

above responsibility is applicable for both the sections. Part-time faculties are required to take at

least one course and Full-timers needs to take two courses per semester

Seminars in their specialty field may be conducted by faculties with higher ranks, usually the

rank of professors are conducting seminars as an added volunteered responsibility. Other

voluntary act may include assisting and advising students during advising.

The faculties are required to take exams and quizzes according NSU examination policy,

generally three exams per course per semester is taken, though it is at the faculties’ will to decide

the number of exams and quizzes to be taken. The faculties are suggested to grade students as per

the NSU grading policy.

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Criteria for Promotion and appointment

Junior Lecturer

Requirements

The candidate must have a Master’s degree in the field or other accepted equivalencies in course

work or equivalent experiences from any reputed local universities, both private and public

universities are considered. Having prior teaching or equivalent experience is not required but

will be considered as an added preference for employment.

Lecturer

Requirements

Having a Master’s degree in the field or other accepted equivalencies in course work or

equivalent experiences from any reputed foreign universities, preferably a North American

degree qualifies a candidate to be appointed as a Lecturer. Having prior teaching or equivalent

experience is not required but will be considered as an added preference for employment.

Senior Lecturer

Requirements

A Lecturer may apply for promotion to Senior Lecturer during or after the first year of

employment at the university. The candidate must then have achieved at least three years of

teaching employment in a relevant field along with a Master’s degree in the field or other

accepted equivalencies in course work or equivalent experiences, from any foreign reputed

universities most preferably from a North American university.

Any candidate having a Master’s degree in the field or other accepted equivalencies as well as 3

years experience as a Lecturer or similar position in any institution may apply for the position of

Senior Lecturer.

For both candidates having at least 2 publications in any academic journal is essential to be

promoted or getting appointed as a Senior Lecturer.

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Assistant Professor

Requirements

The academic qualifications needed to be an Assistant Professor are a Master’s degree in the

field or other accepted equivalencies in course work or equivalent experiences along with

completion of all requirements for the Doctorate Degree in the same or relevant field from any

reputed foreign universities, preferably from a North American university.

A teaching experience of minimum 4 years in any institution as well as having publications in

any academic journal is required to get promoted or appointed as an Assistant Professor.

Associate Professor

Requirements

An Assistant Professor planning to get promoted to Associate Professor requires a Master’s

degree in the field or other accepted equivalencies in course work or equivalent experiences

along with completion of all requirements for the Doctorate Degree in the same or relevant field

from any reputed foreign universities, preferably from a North American university in terms of

the educational qualifications.

Other qualifications include teaching experience of more than 5 years in any institution or similar

experience in the relevant field as well as having multiple publications in any academic journal.

Professor

Requirements

A master’s degree in an appropriate field plus completion of all requirements for the Post

Doctorate degree from any reputed foreign universities along the production of a major work of

scholarship or professional performance judged by recognized independent scholars to be of high

quality within and a major contribution to the field.

Distinguished record of teaching experience as an Associate Professor at the University level

plus an extensive record of publications, research, public performances, and productions are

required.

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Procedure for applying for promotion and appointment

Any faculty member seeking promotion among the faculty ranks is solely responsible for

submitting a letter of intent to the promotion committee requesting consideration for promotion.

The request may be submitted six months earlier prior to the completion of the teaching

experience requirement of the faculty, though other requirements should be fulfilled beforehand.

It is the responsibility of the candidate to prepare a coherent and detailed exhibit, describing

how, and the extent to which, each of the promotion criteria for a particular rank has been

fulfilled. All promotion criteria must be fulfilled must be fulfilled by the candidate and the

evidence that the criteria for a particular rank has been fulfilled must be addressed and

documented in the candidate’s application.

The NSU Faculty Promotion Committee will first verify the eligibility of the candidate’s

educational credentials and years in rank for promotion as well as whether the candidate has

minimum score in the TER (Teaching Evaluation Rating) done by students. The evaluation will

be done in the next Committee meeting following the application of the candidate. It may be

mentioned that the Committee meeting are usually held once in a year.

Finally, if the Committee has sufficient evidence and is satisfied regarding candidate’s eligibility

for promotion to higher ranks, the Committee shall make recommendation to the higher authority

and will take necessary steps to promote the candidate to the desired ranks.

Meeting the minimum qualifications for promotion to a particular rank constitutes only

admission to candidacy, and does not assure that the application will receive the endorsement of

the Promotion Committee. However, the chance of being promoted to higher ranks after meeting

the minimum requirements is quite substantial.

Part-time faculties, who are teaching at other universities at a certain post or rank, may be

appointed by NSU in the similar ranks without the completion of the minimum requirements,

though the eligibility of the appointment in the similar rank will be decided solely by the NSU

authority.

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Process Effectiveness and Drawbacks

The ranking system helps NSU to design a salary structure for the faculties based on the different

ranks. NSU follows Membership contingent compensation for deciding the basic remuneration

for the faculties in each rank. However individual pay is determined on the basis experience,

qualifications and skills, which suggest that Performance contingent compensation plan is also

being used by NSU. Any increment in the basic salary will result from having teaching

experience in NSU or acquiring better qualifications.

Faculties must have the required academic qualification to be promoted to the next rank. The

Doctorate degree as well as the Master’s degree from any foreign university act as a glass ceiling

for the promotion process and limit the opportunity for career advancement to the faculties.

A faculty employed as a Junior Lecturer does not have any scope to get promoted higher ranks

unless they acquired a Doctorate, Master’s or other equivalent foreign degrees. This makes the

position of a Junior Lecturer unattractive to most candidates, since the opportunity for promotion

is non-existent.

North South University does not provide any service manual or guidelines for faculties regarding

the promotion process or requirements. So many of the requirements are vague and moreover the

glass ceiling in the requirements made it unimportant to many faculties to acquire information

regarding the promotion process

Committee meetings are usually held once a year, which might hold off an eligible candidate for

a longer period of time to get promotion. This makes the overall promotion process is very slow

which makes it is unattractive for faculties to apply for the promotion.

NSU Promotion Committee does not recognize any other source of publications other than

academic journals.

Industry experience as well as professional experience acts as a secondary criterion for

promotion, and does not qualify a candidate for promotion unless the candidate has the required

academic qualification.

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Recommendations

The faculty promotion system is very rigid and is unattractive to the faculties. The following

recommendations are from our honorable faculty members that will help to make the system

more attractive to faculties as well as efficient in motivating the faculties to apply for the

promotion

Industry experience and professional experience should be recognized in absence of

academic qualifications. For example, Dhaka University promotes Senior Lecturers with

adequate teaching experience to Assistant Professors without the presence of Doctorate

or equivalent degree.

A detailed Service manual or guidelines for faculties should be introduced by NSU

authority, so that the faculties the terms and conditions of appointments as well as the

minimum requirement for promoting to higher ranks.

The Promotion Committee meetings should be held more frequently, and NSU authority

should make sure that such meetings are not abandoned or at least held once in a year.

Publications in other reputed mediums should be recognized along with the academic

journals. Reports, research papers and such equivalent work that are reviewed and

recognized by independent scholars should be considered as an alternative to

publications.

Faculties with higher ranks should be given the authority to give suggestions to the

Curriculum Committee for course enrichment.

As per our understanding of the system these recommendations will help NSU to increase the

functionality of the system.

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3.2 The Job Market of Bangladesh

The Current Successful Industries

Currently these industries are recruiting most of the talented graduates in the country.

Banking

Banking sector has flourished in Bangladesh for the past few decades. There had been opening

of new banks and branches throughout the country. Foreign banks such as HSBC, Standard

Chartered, and Bank Alfalah had started their journey in Bangladesh and it had been doing

immensely good in our country. These banks had created many job opportunities in Bangladesh.

Fresh graduates are able to do internship in these banks as they give the fresh graduates

opportunities to learn. Bank job has flourished jobs like managerial activities, financial activities

and many more.

MNCs

Bangladesh is a country which attracts foreign investments more than many other countries.

Corporations such as British American Tobacco, Unilever, FedEx, DHL and many other are

investing hugely on Bangladesh, as return is very high from Bangladesh and growth rate is also

quite high. MNCs are opening subsidiaries in the country identifying the opportunity of mass

marketing due to the market size. According to the market size, returns are far higher. Investment

and returns ratio is better than many other countries. These MNCs are creating huge employment

opportunities in Bangladesh. They prefer more local employee than bringing foreign people for

operating their business, because of the low compensation they need to give. Fresh graduates are

being hugely encouraged by these MNCs do get better qualifications due to the opportunities

given by these MNCs.

Telecoms

Telecom sector has flourished more than any other sector in the past decade in Bangladesh. Its

growth rate is immensely high. The returns are quite high. They are creating huge job

opportunities for the fresh graduates.

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Most Demanding Job for Young Graduates

The telecom companies and the MNCs are also among the top listed companies where young

graduates are looking forward to get recruited. Many young graduates are targeting jobs in the

banking sector since it has better growth potential and career opportunity. Jobs in the local

corporate giants such Square, Beximco are also very prominent among the young graduates.

Many local companies are failing to attract talented graduates regardless of having good growth

potential or better career opportunity, like the RMG sector, which is leading exporter industry in

the country.

Most young graduates prefer jobs that have better career development opportunities, since the

Telecoms, MNCs and Corporate Giants are offering better career development and training

opportunities along with a better pay scale which is an added incentive for the young graduates.

Now-a-days the corporate culture and the working environment are also becoming a key issue

among the young graduates. Graduates prefer jobs that have less probationary period, provided

the jobs have similar career opportunity and pay scale.

Management Trainee Officer (MTO )

Young graduates are targeting the positions of MTOs, since career development opportunity is

high in this position as well as the salary offered by most of the companies for this position is

more than other similar types of executive positions.

The MTOs need to perform assigned duties, under direction of experienced personnel, to gain

knowledge and experience. In this position young graduates have the opportunity to get on the

job training as well as assume a upper-lower or middle management position after the training

and probationary period. They get the chance to work in different departments of the

organization, so they have a broader knowledge of the organization as a whole.

The scope of getting promoted to 2-3 level higher position then an entry level job is usually high

and usually within a reasonable time period, though the probationary period is quite lengthy and

the training time period that a in each department is not sufficient.

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Industries with Future Prospect

Investment Banking

With the increase in the size of the capital market, there will be new opportunities for the

investment banking sector to prosper. It can be added investment banking has become very

popular in other South Asian countries, so it’s a matter of time before it becomes widely

acceptable in our country.

Consultancy and Training Firms

It is expected that more and more private consultancy and training firms will grew up, since

firms are too willing to outsource the task of training employees. It would be more cost effective

from the firms’ perspective.

Local Corporate Giants

The local corporate giants will be more aggressive in selecting and recruiting fresh graduates and

will also try to attract brilliant and talented graduates, since the growth of these companies are

good, they will compete against the MNCs to get better man power.

In future the Most Demanding Job (After 10 years)

Analyst

With the increasing size of the capital market, there are new opportunities for the investment

banking sector. So the investment banks will hire young graduates and train them as analyst in

order to have better work force capable of assessing the capital market

Since most of the small companies will consolidate with each other to better compete against the

MNCs and Local Corporate Giants. These companies will also need analyst in order to identify

the market needs as well as the best suitable company for merging.

By considering the above scenarios it can be assumed that the post of an Analyst will be the most

demanding among young graduates.

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Career Plan

Since we are a business graduates we will look for jobs that have better career development

opportunities in our respected field, upon graduation our immediate objective will be to find job

where I can learn as much as possible. Having an exposure in broad range of business areas in

this phase of our career will help us build a strong base of knowledge and experience.

So, initially we will try to join an MNC or foreign bank as a MTO or Junior executive if

possible, since the growth potential is good in those companies. And these foreign companies are

giving huge opportunities and chances to the fresh new graduates.

These foreign companies had been working immensely well and they are operating here for a

long time. These companies have a brand image in the market, both in the local and abroad, so

working for such reputed companies will be an advantage. It will also help further, if gone

abroad, these companies will help in getting recruited in branches in other part of the world.

Since we think that analyst have a future prospects, we will work hard towards achieving the

position of a financial analyst.

Our ultimate goal is to be recognized as someone who has made a difference by being a

competent employee in the organization. This will help us gain further promotions and climb up

to top positions in the hierarchy. Being in top position in MNCs also helps you getting

recognized by other branches in the world. This helps more to get better jobs globally.

MGT 351 - 22

4. Conclusion

The promotion system in any organization is designed such that it is attractive to its employees

as well as to potential candidates who are willing to be a part of the organization. The North

South University faculty promotion is very rigid which makes it very unattractive to potential

and current faculties. North South University should try to make their promotion system more

lucrative to attract candidates in the professor and senior lecturer positions. If they failed to do so

in the long run they may lose good faculties which will not only hamper their long term goal of

producing talented and skilled graduates but also affect their brand image as a reputed private

university. They should follow other universities and redesign their faculty promotion system as

per the general criteria followed by other universities. The recommendations that are provided

above will assist them in redesigning the faculty promotion system.

Currently the young graduates are targeting jobs in companies that have good brand image and

better salary structure, though they are also interested in the career development opportunities in

these organizations. They go after companies having better brand image because it will help

them to get better jobs in the future. The young graduates usually look for jobs in companies that

have growth prospect or have out grown other companies in short period of time. It is essential

for any company to have better human resource because in the long run, it is the only

competitive advantage that competitors cannot copy. So local companies need to hunt for

talented and brilliant graduates by attracting them using different means. If the current situation

persists the local companies that are failing to attract young graduates will be facing skill and

talented labor crisis, in the long run they might lose their existence due to drawback.

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