Build your professional network on facebook via our app Go to app
 
<< Prev  18 of 33 in Topic  Next >>
Topic : Hiring Practices
  Rate : 
 
By : Nitin M Aras, Head/VP/GM-Tech. Support, Wintech Taparia Limited
Industry : Human Resources (HR) Consulting Functional Area : India
Activity:  8 comments  7032 views  last activity : 07 06 2010 20:18:04 +0000
 Refer 163
Share
 
 
 

IIMs' high salary: The true story has a twist

 
 
Bangalore: As 2010 placement session of all the seven IIMs draws to close, it is being witnessed that the role offered to these graduates are more or less traditional and the salary packages are different than the packages which were making the buzz, reports Economic Times.

Following the placement session getting over, the debate started across the corner that which institute managed the best offer? An IIM-Ahmedabad student was tipped to have bagged an offer for Rs 1.4 crore two weeks ago, which has reportedly been breached by the Rs 1.6 crore offer made by a British investment bank at IIM-Calcutta.

But seeing these eye-popping numbers that have dominated headlines for some weeks, Saral Mukherjee, Placement Chief at the IIM-A said, "The truth is that the readers are being fed garbage" said Saral Mukherjee, Placement Chief at IIM-A.

This year, it has been totally different scenario, as the average salary offered by international banks at the IIM campuses are in the range of Rs.12-20 lakh per annum, while that offered by private sector banks is at just over Rs.9 lakh for IIM graduates. The top 30 percent were offered packages of Rs.12-15 lakh, the next 40 percent get salaries in the range of Rs.8-12 lakh and the remaining 30 percent get offers between Rs.5-8 lakh.

Supporting the range of salary being offered, K Ramkumar, Executive Director at ICICI Bank said, "For a person with less than three years of experience, whoever is paying more than Rs 15 lakh is doing a disservice to their organization." ICICI Bank has picked up 50 students from various IIMs so far this year.

It looks really bad to see that how wide is the gap between the lucky few with 'Rs.1 crore-plus' salaries and the rest of the crop from the same elite campuses who are stuck with salaries of Rs 50,000 per month
 Top Comment : Sujeet Vishwakarma   | 03 13 2010 12:36:19 +0000
That is a good info sir.. I believe that speaks volumes, and explains the plight of MBA grads, even at the IIMs. Critics must also presume what plight the MBA passouts from other institutes must be facing. Thank you for the info sir.
 
TrackBack URL:
9 comments on "Real truth now a days - IIMs salary"
  Commented by  Navjeet Sood, Business Head, ADI Media Pvt Ltd    | 03 16 2010 08:50:52 +0000
Thanks for sharing this infomation. Thatz where possibly the truth lies.
  Commented by  ujjval jain, All roles for me, Abhishek Ent    | 03 15 2010 18:17:27 +0000
Rating : +1 
During my CAT journey 2 years back, I use to visit different student profiles of a particular batch in such great schools & I was astonished to see that the oldest guy, once there, was 58 years old.

So I think it could be possible that people get disproportionate offers as even there are no proportions in graduation/experience/age or knowledge in between people there, I suppose. There is always a 'pick of the bunch' & bunch itself is here very precious. 
  Commented by  ASOKE KUSARI, Domestic Private Banking-Executive/Manager, A large leading PSU Bank - India    | 03 14 2010 18:26:53 +0000
The info has been digested. Thanks. Questions elsewhere.
  Commented by  suchita Ambardekar, Portfolio Manager, Tristate Medical Equipment India Pvt Ltd    | 03 14 2010 17:11:58 +0000
So in fact if it is true..that media some how focuses on that " IIM is bringing about well trained...students...who are good to be hired...rather than well educated...management students."..who have destiny of that company in their hand..which IIM Educational managment want to highlight.
  Commented by  Akhilesh S Joshi, Executive Editor, MALLCULTURE Magazine    | 03 13 2010 19:39:22 +0000
The comparisons are being made not on a COMMON platform. You see, that a candidate who is appointed and being paid in British Pounds is being converted to INR to compare with a candidates package being paid by an Indian Company. Likewise, if you start comparing the US bound Indian (graduates), being paid USD 70,000.00 PA (lowly), have been placed just after their completion of Master's Degree. It does not mean that he is being paid 70,000 X Rs. 47. The packages of candidates being placed within geographical India are comparable but not with the package being paid out of India. I think a person in the same company may be getting mush higher than this candidate, who knows?
  Commented by  Tanmay Gaur, Freelance Software Developer    | 03 13 2010 19:23:33 +0000
Now thats realistic. wow! Don't you think the youth today is mislead about the basic economics of the real world? I myself feel amused. This is eye opener.
  Commented by  Sujeet Vishwakarma, Marketing Executive/ Project Co-Ordinator, Pristine Water    | 03 13 2010 12:36:43 +0000
That is a good info sir..

I believe that speaks volumes, and explains the plight of MBA grads, even at the IIMs.
Critics must also presume what plight the MBA passouts from other institutes must be facing.

Thank you for the info sir.
  Commented by  Sujeet Vishwakarma, Marketing Executive/ Project Co-Ordinator, Pristine Water    | 03 13 2010 12:36:19 +0000
Rating : +1 
That is a good info sir..

I believe that speaks volumes, and explains the plight of MBA grads, even at the IIMs.
Critics must also presume what plight the MBA passouts from other institutes must be facing.

Thank you for the info sir.
  Commented by  Makrand Bhave, Marketing & MICE, WIZCRAFT International    | 03 13 2010 06:00:40 +0000
Well its the truth Mr. Aras!!! Thanks for the info 
Add your comment on "Real truth now a days - IIMs salary"

Rate:
Submit
Also check out www.sapjobsbangalore.com
SAP Jobs Openings in Bangalore
SAP Jobs Openings in Bangalore
Viewers also viewed
Recently we are seeing news like IIM Kolkata MBA graduate got a whopping 1.4 cr package and...
 
1657 referals 50 arguments, 27492 views
We all may have done job switches but the qes is why?? What motivates a person to do a change ......
 
272 referals 220 arguments, 17591 views
Today professional employer organizations help free up business owners time to focus on...
 
857 referals 13 arguments, 1643 views
more...  
 
More From Author
Rupiya aaj ke Mahabharat ki Droupadi ban gaya, Dollar Dushasan uska Chirharan kar raha he, P chidamabaram Duryodhan he, Diggi Shakuni mama, Kapil Sibbal kaurav sabha ke chaparasi, Rahul Gandhi pata nahi konsa character he is mahabharat ka (koi...
I am giving up……. I cannot resolve…… Just desperately waiting for a MIRACLE   This is my heart voice… from my deep soul… its an experience… everybody may go through this incident in his/her life… GOD please do not fall you in such embarrassing...
Uff... difficult to answer... believing that failure prediction is easy...damn easy for all... now a days... I am with some young people means new comers and they are very sure about their success it shows that prediction of success is easy... LOL!!!!
more...