shall I join IIM's

Abhiinfix · **shall I join IIM's -** 06-01-2008, 01:25 AM

I am a s/w proffesional with 2.5 years of wrk ex in a top mnc. I calculated a decent score in CAT(140) and seeing on websites it seems I should be getting IIM calls. As I see placement data of various IIM's none of them mention, is it gross or CTC. My current gross salary is 9.2, I get 10-15% bonus, and some 1 L of full stocks every year. Non cash perks(like insurance, travel etc extra). I also have an option to move to US with 80k $ USD(gross). Now I am in a fix, should I join IIM's, if selected or should I not. To be frank, I am not passionate about either fields. I am ok developing s/w or taking mba job, whichever pays me better. Can somebody tell me are these figures (like 13.6 avg salary from IIM -A) gross or CTC's. What exactly do these salaries look like, how much is variable, how much fixed, what all is included etc. If somebody can give exact advice should I be joining IIM's, it would be nice. Btw, one thing is sure I am not a marketing kind of guy, and sales and marketing is not an option for me.

mohit@bits · **Re: shall I join IIM's -** 06-01-2008, 07:52 AM

if money is ur only AIM thn join IIM . u will earn more than u can spen:bomb:d in long run

sarvshwet · **Re: shall I join IIM's -** 06-01-2008, 08:15 AM

Quote:

Originally Posted by mohit@bits

if money is ur only AIM thn join IIM . u will earn more than u can spen:bomb:d in long run

i agree to him....

only would like to add....

dont look beyond the top 3 iims

Abhiinfix · **Re: shall I join IIM's -** 06-01-2008, 08:17 AM

it would be nice if someone can tell the details of quoted salaries of IIMs

sarvshwet · **Re: shall I join IIM's -** 06-01-2008, 08:18 AM

Quote:

Originally Posted by Abhiinfix

it would be nice if someone can tell the details of quoted salaries of IIMs

the salaries varies a lot.....

and two year hence i think you can look at a package of above 1 lac per month in hand.......

from iim a/b/c

Abhiinfix · **Re: shall I join IIM's -** 06-01-2008, 08:45 AM

Sorry, but I am still not clear. By "in hand" do u mean after tax and PF deduction? That would mean 17-18 gross. If on other hand you mean 12 gross, that doesn't sound a big deal. I understand that actually salaries vary a lot. Thats why I am interested in knowing that what components of salaries do they consider while posting statistics. Like IIM-A says avg. pckg is 13.6. Does this include bonus? Average case bonus or best case? Does it even include medical and health insurances?

vivekvarendra · **Re: shall I join IIM's -** 06-01-2008, 08:55 AM

The salaries quoted by IIMs are probably cost to company (ctc).

mohit@bits · **Re: shall I join IIM's -** 06-01-2008, 10:52 AM

dude plz read this though this is what a iim passout of the 1980s once said

During my school days, i was dying to get the top rank to get into a good college!

During my college days, I was dying to get the top rank to get myself placed in an MNC.

I got it, and then I was dying hard to prove myself in the job to get myself promoted and to get the best position.

I got it, then got married, and then i was dying to have a house built to my taste and furnishing it.

I completed it, and had children, and then, i was dying to give them good education and career.

I retired, with all sorts of physical inconveniences, my children out of country, and dying in my lonliness!

I realised oflate, that, all through, I never lived my life.

people who just run for money never remain happy in long run bcoz they lose a lot more precious things than the money they earn

Abhiinfix · **Re: shall I join IIM's -** 06-01-2008, 11:16 AM

well...I kind of know that..But I can't help as I don't have a particular like/dislike for either of these professions. Money hence becomes the decision maker. Not getting further into philosophy of life, I request any of the IIM alumunus/student to confirm what exactly does an IIM 14 lac package mean. Typically what all does it cover. What is kind of average growth rate after that.

mealiennothuman · **Re: shall I join IIM's -** 06-01-2008, 11:23 AM

This may sound cliched but cliches are usually true.

MBA is not all about money. Its also about growth. Its also getting to do what you want to. I do not think you should decide whether to do an MBA or not based on how much you will earn post-MBA. My reason for wanting to do an MBA is that I want to get into Finance. Also from experience as a software developer, I believe that without an MBA degree you simply cannot grow fast inspite of performing extremely well. The factor of number of years of experience always comes in the way.

Now based on your current position and growth prospects, you need to decide.

Thanks,
Abhishek.