November 27, 2007

Continuing on recruitment /salaries post MBA

Turns out my previous post on recruitment in international schools (INSEAD/Wharton/Chicago and so on) vs. IIMs and ISB turned out to be very popular. Apart from large number of hits and surprising quick ascension on Google (who could guess that giving "iim insead" on Google gets my link right at the top..!), I also have emails to clarify questions.

This is a short post but one to clarify the question of post MBA salary ranges. To my knowledge, the salary reported on Indian media on IIM / ISB is CTC, i.e., cost to company, which includes a whole range of items apart from base salary - like bonus, car, education allowance, and everything else that could factor in. The salaries typically quoted by the above mentioned international schools (I can say for sure for INSEAD) are "base salaries", for e.g. 2006 Europe base salary average was around 85,000 euros = ~125,000$. And this is NOT CTC. All the joining and future bonuses, and any other allowances are outside this salary. The base range can be up to ~200,000 euros =~300,000 USD.

Hope that answers the question(s).

Alright folks, in a few hours I must be all suited and booted up for the mega Monsoon ball here at Singapore. I hope to have a blast of a time! updated note: oh yes, I did.

update: A note as a response to a couple of mails and a comment. The posts have nothing to do with quality of students, it's only about clarifying processes and statistics. The danger with excessive hype is that it puts immense pressure on current students (due to unfair comparison, and I've read students comments to that effect - "what, you did not get 50 lakhs?"), it gives an incorrect picture to prospective students and clouds their judgment, and it distorts the reality of competition.

2 comments:

Oops said...

i wish iim grads even got half the amt u quoted even as CTC perks :-)

bon voyage

bsch00l4sp!r4nt said...

Great follow-up post. I don't think the media reports give a detailed breakdown on the salaries. They just go by the highest number, multiply by the prevailing exchange rate, convert it into rupees, and voila!

That is not to undermine the quality or the capabilities of the students!

Hope you have a ball at the ball.