Preparing students for a working life

New Delhi: Jai Vani Bajaj is an educationist with a difference. Director of the International College of Financial Planning (ICoFP), she has gone a step ahead of others in promoting need-based education. "I believe in education that comes handy for students in the professional sphere," she said.

The ICoFP was promoted in 2002 by the Bajaj Capital Group, which has been in service for the last 45 years. The college is an authorised education provider affiliated to the Financial Planner Standards Board (FPSB) based in Denver, United States.

With campuses in New Delhi, Mumbai, Kolkata and Chennai, it is now offering a Masters in Business Administration (MBA) to students. The tie-up with Karnataka State Open University is yet another feather in Jai Vani's cap.

Gulf News spoke to Bajaj.

GULF NEWS: These are times of major changes in the education system. Where is our education lacking in preparing students for employment?

JAI VANI BAJAJ: Our education system is very theoretical and old-fashioned. The need is to keep international standards in mind and prepare curriculums keeping job options and opportunities in mind.

Learning should not be restricted to being academic in nature. Since we haven't changed with the times, when a student goes out into the professional world, he gets a shock when treated as an absolute fresher.

So, bringing in vocational training is very important to boost the morale and confidence level of the students, which, in turn, can get them employment in their chosen field.

Are there any specialised courses that have an edge over others and can successfully get employment for students?

Our curriculum trains students in various certifications with regard to the financial industry.

Our one-year programme provides a lot of exposure and enables them to be ready for a job from day one.

While the post-graduate diploma in financial planning readies them for jobs in the mutual funds sector, an MBA in financial analysis can get them a foothold in the equity market and enables them to handle research jobs in the financial sector.

Since Hindi films are a rage and a lucrative career option, should subjects like film-making be added to the curriculum, especially in Delhi University?

Certainly yes. Students have interests in varied fields, including film-making, and though private institutes are offering different courses, the onus should be on government institutes and Delhi University, which are the most preferred destination of the majority.

How has been the interest level among students for specialised courses, especially the recently introduced Fashion Entrepreneurship programme by your institute?

Specialised courses are much in demand these days.

With Indian fashion designers making waves internationally, ICoFP has introduced a programme in fashion entrepreneurship. The curriculum is designed in association with the Indian Institute of Technology, New Delhi, the National Institute of Design, Ahmedabad and the National Institute for Entrepreneurship and Small Business Development, Noida.

Subsidiary of ICoFP, the International College of Fashion, fosters understanding of the relevant issues facing industry and the global community.

Engaging students in a concentrated professional programme, it will simultaneously provide them with a solid foundation in liberal arts.

The course has a curriculum that balances both creative and technical elements — the two factors that are essential in today's education. It would even help students who wish to open their own clothing line, as versatility of both design and business skills will come to use.

What is the basic teaching philosophy of your institution?

Our aim is to impart the best academic experience to students so that they become ethical and hard working professionals.

We have played the role of a catalyst in bringing the Certified Financial Planner (CFP) certification to the country. CFP is an internationally accepted mark of excellence granted to individuals who meet the stringent standards of education, examination, experience and ethics.

Do you provide 100 per cent placement guarantees?

Yes, we do. In fact, even during the economic slowdown we maintained great placement track record. And over 100 organisations regularly visit our campus for their requirement of trained professionals.

How is finance education taking shape in India compared to rest of the world?

The world over, countries go in a very systematic manner, but in India there is a huge gap.

A recent study indicated that in the next few years, India would need about 500,000 financial planners.

Presently, the number is much less, which implies the industry is facing a shortfall of right talent with the right skill set that needs to be filled.

The financial sector offers 30 to 40 per cent of employment internationally and India must work in this area as well. With the regulatory changes happening, opportunities are immense.

What kind of impetus do you get from the student community?

Our institute takes the feedback of students very seriously and though students come to gain knowledge from us, we do tend to learn a few lessons from them.

It is important to know the mind of the youth and how to handle the issues that they face. We have an open-door policy and students often come to me and discuss their problems personally.

It's a process of learning that we encourage and the suggestions are then incorporated in the current or the next academic session.

What is that one thing you would like to introduce for the benefit of students?

I am considering providing scholarships to academically brilliant students from the economically weaker section.

I aim to contribute to the society in my own way so that the youth get good jobs, which becomes their support system for life.

Fast rise of an expert educationist