Market Reserch a lucrative career option

These days when some of my college friends were doing a live project in one of the good Mrket reserch firm i was wondering if these firms are worth enough for a longterm career option. Do they really fit into a good career path for long? or they are just to gain experience and to move on. While i still wonder what could be the answer of these question got a good piece of interview of ORG IMS research HR head, Max D’souza,in ET so reproducing the same here...

MAKING a career in market research for long was not considered as a preferred option by the best of brains. However, with the entry of MNCs in India, and thereby improved HR practices, firms like ORG IMS are now getting premium slot in leading institutes like the IIMs and IITs. ORG IMS research HR head, Max D’souza, spoke on the changing paradigm of market research field in India. Excerpts:


How would you compare HR practices in Indian market research firms with that in the UK and US?

The gap in HR practices between Indian market research companies and those in the West is significant. Since there is a scarcity of talent and people with analytical bent of mind (the ideal talent) in the West, the priority on HR practices is very high. In India, the scenario is completely reverse. There is immense talent that suits the requirement of the industry and historically, market research was not rated on a high scale in the market. However, MNC market research firms like ORG IMS have laid down adequate systems in place which help HR practices to be the driving force in managing people expectations, talent attraction and retention strategies. The MNCs have changed the historical perception of market research as a career option.

There is a perception that entry-level salaries are not too lucrative in Indian market research firms. Your comments.

The perception is, in fact, the reality! This has come into existence due to past practices and talent attraction being a challenge. This drastically dropped the quality of talent at the entry level and hence salaries too were low. Today, sectors like BPO and KPO have raised the entrylevel salary bar significantly which too has changed the compensation philosophy in market research companies. The leading firms now source their talent from leading B-schools. Many candidates aspire to pursue their career in good market research firms. The salary gap between market research companies and those in sectors like FMCG is no doubt bridging.

Is it possible to have a long-term career in market research in India?

Youngsters are getting attracted to market research since it gives a first-hand view of the whole industry. This learning curve gives a potential employee a defined edge to perceive career as ‘market experts’. It also enables them to be thought leaders in a specialised area since a market research background gives a very strong fundamental base.
There are hardly any academic curriculum in India which is specialised on market research. Any plans in this regard?
There is a dire need for a specialised curriculum in market research, which will help to build the future talent pool. Many B-schools have indeed started encouraging market research in their curriculum and I am sure we are not far from having a dedicated specialisation in market research. Currently, we do face a lot of difficulty to find the right talent, but this is compensated by our initiative in investing among students through internship programs. Though right now there are no plans for rolling out any market research course, we are quite active in partnering with B-schools to assist and develop curriculum in market research.