Hemant Joshi’s career spans more than two decades across three worlds – development practice, consulting, and entrepreneurship. From working in rural districts of Madhya Pradesh, Chhattisgarh and Uttar Pradesh, to leading strategic engagements at McKinsey, to setting up the India business for Japan’s Benesse Corporation, his journey has been shaped by a mix of field experience, structured problem-solving, and an increasingly entrepreneurial drive. An IIFM graduate and Fulbright Fellow, Hemant now works on new ventures while advising organisations on India entry strategy, go-to-market, and strategy, design & capability development.He advises current IIFM students to stay open to new experiences, take fieldwork seriously, and embrace the distinct paths that a specialised institute like IIFM can open up.
Location: New Delhi, India
LinkedIn: https://in.linkedin.com/in/hemant-joshi-6361403?trk=public_post_feed-actor-name
Q. Tell us about your school and college before you came to IIFM. How was your experience there? And how did IIFM happen?
A. Being from an Army family meant shifting schools every few years – from the South to the North – which taught me to adapt quickly. I graduated from my local university in Uttarakhand and, like many others, started exploring MBA options. An Indian Express ad for IIFM caught my attention because it was a national programme with a monthly fellowship. That mattered.
Around the same time, a college friend mentioned a senior from my hometown, Neeraj Negi, who had studied there a few years earlier. That small connection built confidence. Back then, I didn’t know much about IIFM – just that it sounded different from the usual B-schools. When the interview call came and I got through, I joined without realising how much that decision would shape everything that followed.
Q. How has your journey from IIFM been so far?
A. My journey has had three distinct phases so far, and time will tell what the next ones look like.
The first was as a development practitioner. I began at Samarthan (an NGO with head office in Bhopal) in Sehore, worked with communities in Bastar while with UNICEF, and later moved to Oxfam in Lucknow. Those years grounded me in how things actually work. I then went to the Maxwell School, Syracuse University, for an MPA on a Fulbright Fellowship – a big shift from rural fieldwork to an American campus.
The second phase was consulting – first with Grant Thornton, then with McKinsey & Company in Delhi. Those years were intense and transformative.
The third phase has been entrepreneurial. I left McKinsey during the first COVID wave to build a B2B SaaS venture. It didn’t work out, but it pushed me to set up and lead the India business for Benesse, a large Japanese education and healthcare company. I continue as an Advisor to them while building a new venture and doing fractional consulting.
Q. What were some of the key milestones or learnings in this journey that you would like to share with us?
A. Like many batchmates, I began with a strong desire to work directly with communities. Those early years were adventurous and still shape how I design or evaluate initiatives today.
After that, my career shifts became more deliberate. I realised early that I enjoyed structured problem-solving and writing evaluations and proposals. My MPA helped me see that consulting was a natural fit, which played out well at Grant Thornton.
McKinsey was the big turning point. Nine years there forced me to unlearn and relearn almost everything – how I think, communicate, and use data. It made me far more entrepreneurial. Most of what I have done post-2020 draws from that mindset, each step a little bolder than the previous.
Q. What is the most satisfying part of your career?
A. The most satisfying phase has been doing 0-1-100 over the last few years. It pushed me to rely on my strengths, be honest about my gaps, and build complementary teams. Developing products, driving sales myself, and serving a different client base has been energising.
There are natural ups and downs in this journey, but the learning curve is steep. Looking back, this is the phase that has given me the most daily energy – the satisfaction of building something from scratch.
Q. Has your learning at IIFM helped in shaping how you approach your professional roles?
A. Coming from a traditional B.Sc. background with almost no group work or field exposure, IIFM was very different for me. The biggest learning was teamwork – through group assignments, field visits, and internships where you had no choice but to work together and see the magic of diversity delivering amazing outcomes.
The second big influence was the exposure to the development sector. At that time, it felt like specialised knowledge and directly helped me land my early roles. On the ground, I could see how IIFM training showed up – in analysis, research, communication, and leadership vs my more experienced colleagues. Everything since has been built on that foundation.
Q. What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors or roles?
A. It has been quite some time since I graduated but I would like to believe that a few things still hold true. First, get some direct field experience before moving into purely office-based roles. It makes your later work far more grounded.
Second, try to get some clarity on the space you want to work in a little early. Flexibility helps in the beginning, but by the end of your post-grad, it’s useful to have a broad direction. The path will evolve, but a rough destination makes the climb easier.
Q. Did you ever think about going for higher studies post-IIFM?
A. Yes. I did my MPA from the Maxwell School, Syracuse University, US on a Fulbright Fellowship. The decision itself was simple: within two years of working, I knew I wanted a second master’s abroad, and I knew I didn’t want to self-fund it.
What made it actually happen was serendipity. I presented a paper at MPISSR, Ujjain around 2004, where the Mumbai head of USEFI was a panellist. He took my details, informed me when the Master’s Fellowship opened, and guided me a bit on the process. That chance meeting ended up shaping the next phase of my career.
Q. What are your favorite memories during your IIFM days?
A. One early memory is the “mess committee.” Our batch took food very seriously and demanded frequent changes.
I joined IIFM with very disciplined habits, but that didn’t last long. Soon I was one of those people whose breakfast had to be carried to class because we couldn’t make it to the mess on time. Bamboosa nights were another constant – meant for weekends but often squeezed between assignments.
And my inability to dance, whether sober or at the other extreme, is something my batchmates still remind me of!!
Q. In hindsight, what was the biggest contribution or takeaway from IIFM that shaped you?
A. The biggest takeaway for me was learning to balance everything – academics, sports, hostel life, late nights – and still deliver. Until IIFM, most of us were just students and mostly focused on studies.
That balance prepared me for real life, where personal and professional worlds rarely exist in neat compartments. IIFM gave me the confidence that both can be managed and managed well.
Q. The best buddies, seniors, faculty at IIFM? Any memorable tidbits?
A. Batch sizes were smaller back then, so it’s hard to pick just a few. Some of us have stayed very close even now, speaking often and visiting each other’s homes.
Among faculty, I have many fond memories. Pethia Sir’s no-nonsense approach to finance, CS Rathore Sir’s discipline in making sure we learn computing & data handling, and RK Singh Sir and Deep Narayan Pandey Sir’s ability to connect theory to practice all stand out.
There were funny moments too. A batchmate once answered a descriptive question in a communication test with a full diagram and was shocked at the score he got. Another time, an unprepared group used a “human conveyor belt” to rush overhead transparencies from the computer lab to the class during a surprise presentation.
Q. As an alumnus, what is your advice to freshers or those joining IIFM to get the best out of the two years there?
A. Be open to new experiences. Treat fieldwork with the same seriousness as academics – a lot of real learning happens there.
Also accept that IIFM is a specialised institution. It has its own strengths and quirks, and it may nudge you into paths that aren’t the most common. That’s actually the fun of studying here.
Q. And how about weekends, hobbies, family?
A. There was a phase at McKinsey when balancing work and life felt tough. A senior once told me that everyone eventually finds their own rhythm – some draw strict boundaries between weekdays and weekends, others prefer flexibility. I have mostly been in the latter group.
Now I am more relaxed. Weekends usually mean OTT, a movie, or stepping out for dinner with family. Nothing very structured, just whatever fits the moment.
Q. How would you like to contribute to IIFM or its alumni and students?
A. This is an area where I feel I could have done more. But I am open to contributing in any useful way – guest lectures, networks, mentorship, or just being available if someone needs guidance.
I have been a little out of the loop, but I am positive about doing my bit going forward.
Q. What do you think is different at IIFM now vs when you studied there? When did you last visit?
A. I visited IIFM last year during a work trip. A few colleagues and I walked around the campus to revisit the usual spots.
I have been somewhat disconnected, so I can’t comment on what has changed. But I am sure the changes, whatever they are, have been for the better – for both students and the institute.
Q. Any suggestions on who should be profiled next?
A. I don’t think it’s ideal for me to pick names. The team already has access to the full alumni base. But not many of my batchmates have been featured yet, so it would be great to hear more of their stories.