I'd written a piece titled Bschool salaries: A reality check two years ago. Am looking to update it now and want to hear from you guys out there who've just passed out of bschool: is the spurt in salaries for real?
IIM A has put out an average domestic salary figure of Rs 17.85 lakhs p.a. this year. That's 40% more than the year 2007 (Rs 13.6 lakhs). And the 2007 figure was 40% more than the previous year 2006! (Rs 9.72 lakhs)
IIM A is only an indicative example, the same trend is seen all across bschools. Just a quick example: Shailesh J mehta SOM has declared an average salary of Rs 13.96lakhs p.a. in 2008 (44%jump over last year)
Is it really possible that bschool salaries are growing 40% y-o-y? I'm sure at least some of it is thanks to creative accounting?? What are the latest white lies placement committees are telling to stay ahead in the salary race?
Drop me a line at firstname.lastname@example.org if you'd like to share what you know. Especially the component of variable pay... If the 'average' is Rs 17.85 lakhs p.a. what I want to know is what's your monthly take home pay?
This info is especially relevant in light of the fee hike by IIMs! The idea is not to point fingers but give aspirants a sense of what lies ahead - minus the hype.