[subodh_iit]

Originally Posted by akhil

25-30 lakhs p.a for entry level position?? No

I am working in Kotak Investment banking as second year analyst. Entry level salaries for Analyst positions will 4-6 lakh p.a (Freshers). With some experience, 6-8 lakhs.

For associate positions- 8-12 lakhs

For Assistant Vice president (AVP)- 12-25 lakhs

For VP- 25- no Limit !

Hope you have heard about IIMB student getting 30 lpa offer from Barclays for entry level associate position. Normally associate position is only handed to IIM students if they have sufficient prior corporate experience. Well an NYU student can get that much if he/she is able to convince the Bankers that (s)he is worth that much A more realistic target can be 15-20 lakhs.

[subodh_iit]

Originally Posted by Shefali_Mehta

Well, however, those I-Banking salaries looks tooo lucrative to believe. 25-30 Lac. pa. in India ???? for Entry Level Associate ??? Are they correct ???

Hi Shefali,

The person who got into Barclays last year from IIMB had the following profile

B. Tech. from an IIT
MS from UCB or another top US uni
3 years work-ex. in a core company (Remember no finance comp)
MBA from IIMB

Age -28 years

I presume you have an age of 25-26 years and you have US exp as well as a US degree. I guess if you are able to convince the recruiters on your reason behind returning to India (and probably explain how will you be able to translate your US exposure into success in INDiAN markets?) then it shd not be difficult for u to get a
>20 lpa offer.

[vinit456]

Originally Posted by subodh_iit

Hope you have heard about IIMB student getting 30 lpa offer from Barclays for entry level associate position. Normally associate position is only handed to IIM students if they have sufficient prior corporate experience. Well an NYU student can get that much if he/she is able to convince the Bankers that (s)he is worth that much A more realistic target can be 15-20 lakhs.

Can you please name the person?

2 things,

First,
Venkatesh Shankararaman- From IIM-B last year got a package of rs 30L pa or Rs 3 million, which was the second highest. Would love to know, to whom did Barclays offer the same pay packet (rs 30 pa) as he would have shared the position for the second highest slot.

Second,
He was offered a position in McKinsey ergo consultancy, where Akhil is correct. If u work at an enrty level position as an analyst offers are within the rs6-10L pa where again period of work ex and type of work ex would define the variables and obviously the co.

Positions for consultancy in terms of pay packets are different as compared to "a research analyst" position per se.

So for a moment lets seperate IB ops and Conltncy and a rs 20 pa is optimistic.

Oops....It's way way off the mark. Unless ur an exception. Like I said rs25-30 l pa is not given to just anyone. And if convincing employers was the way out then I think its a long wait.

So dont compare someone who got into Barclays for rs 30 L pa. (which according to me is incorrect or atleast could not pull up the source) to an entry level position in I-Bank.

That's Unless u confused Gaurav Agrawal with Venkatesh Shankararaman.

For an entry level profile like Psychodementia said McKinsey is sort of the benchmark where salaries are in the 14pa+

On the other hand, yes Pay packets of rs1 cr+ post 2005 are not off unheard of or that comes as a surprise these days.

But then again we are talking about portfolio managers,PMS, fund managers, vp level. But that not a consistent trend. Like I said a lot of it has happended post 2005.

Just being objective!

Cheers
Vineet

[Shefali_Mehta]

Hi Guys,

Thanks for sharing the views. Its a good discussion !!

Well, 30 Lac. pa. -- was it for Barclays ?? I heard some 40 years gentleman, with really good vertical experience bagged that salaries and it was not Barclays, to my information. Also, I think, no doubt, there was a position at Barclay too, however, I think that was for London posting ! And salary was around $165K (due to Dollar-Pound difference). However, I may be wrong !! If someone has some information, please share it.

Vineet -- your analysis was good ! But, How about -- Rs. 1 Cr.+ for Portfolio Managers, Fund Manager -- Is it so ???

Subodh, I think, you are talking about -- Gaurav Agrawal. I read somewhere about his profile and its similar to what you mentioned. His job-position is in North Asia and London, so the salaries were high in those terms !! It was not in India !! Your comments on convincing company was true for sure !! Most of the global consulting branch in India, also prefers to hire people who can add value and experience related to Indian market !!

McKinsey - 14 Lac.+ is not bad too at entry level. And I am sure, other consulting companies such as BCG, Bain must be offering similar amount. Any idea about these consulting company's work-hours and work?

Thanks !!
- Shefali Mehta, NYU (Stern), Class of 2007

[Shefali_Mehta]

Hi Guys,

Thanks for sharing the views. Its a good discussion !!

Well, 30 Lac. pa. -- was it for Barclays ?? I heard some 40 years gentleman, with really good vertical experience bagged that salary and it was not Barclays, to my information. Also, I think, no doubt, there was a position at Barclay too, however, I think that was for London posting ! And salary was around $165K (due to Dollar-Pound difference). However, I may be wrong !! If someone has some information, please share it.

Vineet -- your analysis was good ! But, How about -- Rs. 1 Cr.+ for Portfolio Managers, Fund Manager -- Is it so ???

Subodh, I think, you are talking about -- Gaurav Agrawal. I read somewhere about his profile and its similar to what you mentioned. His job-position is in North Asia and London, so the salaries were high in those terms !! It was not in India !! Your comments on convincing company was true for sure !! Most of the global consulting branch in India, also prefers to hire people who can add value and experience related to Indian market !!

McKinsey - 14 Lac.+ is not bad too at entry level. And I am sure, other consulting companies such as BCG, Bain must be offering similar amount. Any idea about these consulting company's work-hours and work?

Thanks !!
- Shefali Mehta, NYU (Stern), Class of 2007

[Shefali_Mehta]

Sorry, it got posted twice !

[akhil]

As far as i know, the posting was london posting in barclays bank.

Exception are there but there is no way 30 lakh package are offered in india even for associate position.It is simply too much even in the current booming Indian market where bonuses are highest in Indian IB history.

At best, it can be a restructured package where you spend 6 months in mumbai and 6 months in tokyo/london or any other financial hub.

[akhil]

most of the companies set-up offices here more for back office work and work definitely can't be equated with the work done outside in international markets...

I am saying all this based on the accounts of my frnds who are employed in various companies....

and as far as starting salaries go... I think 25-26 lakh is too much at entry level.... no matter which coll u belong to, you shudn't expect this salary at entry level and that too for most back office work... !!

correct me if I am wrong...

My viewpoint is different here. All these Back office (IT outsourcing + BPO) was there in 1970's,80's and 90's too. Outsourcing is not a new term. First companies used to shift work from High cost US states to lower cost US states..i.e shifting of a call centre from NY to arizona.

Then came offshore outsourcing in 90's. Shifting of work from US to mexico, canada, ireland and west indies. All these sites are nearer to clients.

Offshore outsourcing is a disruptive business model and in late 90's , India evolved as robust cost effective offshore outsourcing location.

My main point is there is a specialised career in these back office jobs which become front office job for Global BPO/IT services provider. You must have heard stories of people rising from call centre worker to Operation managers/AVP etc. Outsourcing is a niche career oriented job.

Lets, take an example, of KPO involved in equity research domain as one of its horizontal offerings. You are right that the work involved can not be equated to International markets (Like hardcore analyst job) but KPO open wide career choices which are not available in traditional job. Jobs like transition manager/ Training head/ Client executive/ Operations manager /Global business manager or administration tasks like Head facilities/Transport.

[vinit456]

Originally Posted by Shefali_Mehta

Hi Guys,


Vineet -- your analysis was good ! But, How about -- Rs. 1 Cr.+ for Portfolio Managers, Fund Manager -- Is it so ???

Here you go,

Like I said, its not the unheard of and post 2005 lots of factors like shortage in (quality,experience)manpower and the equity markets have contributed to the growth.

I mean the Sandeep Sabrawal, Nilesh Shahs dont come cheap and could easily command updwards Rs 1cr.

Cheers
Vineet

[bizskool]

Shefali, unless for personal reasons, i suggest stay back in US for a couple of years and earn back your fees (u paid in USD) from ROI persp.therafter u can negotiate transfer with the same co. if they have India oprns or with a similar statured firm to come back to India.
however some co.s are paying their top execs in dollar equivalent terms in India also (if u can manage that). if u can manage something like a sensational BRIC report in US, u get to join as chief strategy officer/chief economist etc(as Roopa purushothaman from goldman joined pantaloon). she is arnd 27-28 and wrote the famous BRIC report. salary is anybodys guess.