[PaGaLGuY Article] Seeing through misleading salaries in B-school placement reports

anurag01232006

I urge all the seniors and the people who have knowledge about the colleges that hike their salaries ,to give some names...Please..

ss2210

thank u PG for this wonderful exposure on the flip side of management learning.i always wondered why those institutes who do not conduct exams on their own charge heavily for the application forms.except for the iims who charge only a reasonable fee and allows us to apply to all iims,others seem to snatch away the money from us, taking recourse in the uncertainities associated with admissions.more disturbing is the fact that all institutes want their students to be frank and forth right and are keen to explore it during gd/pi.but they themselves show scant regard to the future of their students.govt should intervene and fix reasonable charges for applying to b-schools and all those who manage an institution by collecting public money should be brought under the RTI act.

newbiedelhi

Quote:

Originally Posted by anurag01232006

I urge all the seniors and the people who have knowledge about the colleges that hike their salaries ,to give some names...Please..

all pvt colleges in top 20 do it yaar.

. expect atleast a 20-25% inflation

profootball25

Quote:

Originally Posted by mirchikris

IIM B and L have stopped publishing because of the request made by the students(correct me if i am wrong), But colleges out of the top10(or 15) will not find this feasible because then they may not attract best students

kris

Err ... a little clarification

IIM B did it coz the students asked for not revealing their names with salaries ...
Later, it was thought that why reveal salaries at all ..
By now every1 knows that whatever salaries you get last year .. add 10-20 % to that and that would be the average next year ...
+ the fact that, ABC really dont need to publish salaries to attract students ....

Now comes IIM L. The students dint ask for it ....
It was the decision of the placements cell not to publish them ...
Why .. was it done ? well .. there was a thread on this last April May ...
Find it .. you ll find some really impressive arguments

P.S. - The first reply on that thread was mine supporting the fact that sals shdnt be published ... irrespective of the reasons why L dint publish them ...

See if you look at last years placements reports ... you can get avg sals of A C I K FMS XL MDI JB SP .. etc ....

If suddenly this year, A I and K dint publish their salaries ( C will never do this in the near future

.. trust me

) ... it wont be difficult to just assume, the salaries have increased in proportion to the increase in other b schools ....

The major pain with publishing salaries will be understood when u r in a b school

**reachmonil**

Quote:

Originally Posted by profootball25

The major pain with publishing salaries will be understood when u r in a b school

You shouldn't stop here.

Go on, let us also hear what happens at the other side of the fence.

profootball25 · 07:22 PM

Quote:

Originally Posted by reachmonil

You shouldn't stop here.

Go on, let us also hear what happens at the other side of the fence.

hehe ... kyun muh khulwa raha hai ....

Lots of issues ... but the most major is the mental and emotional one ...

every b school has X number of students .... lets say 100
Now if the average is say 10 LPA ... atleast 30 would have got < 10 LPA ...
More than the average is the highest salary ...

Lets the the case of SIBM the latest placements report on PG ... highest was 14 LPA ..

The thing is every aspirant thinks he ll be getting the 14 LPA when he joins SIBM ...

I can understand if ppl are mature enough to know that they wont get the 200,000 $ job when in an IIM coz that is 1 job for some exceptional ppl with an extraordinary background / 2 yrs at the institute ..

But that true for every b school ...
you may not get the GS, LB, Mckisney coz they only make up for 10 % of the entire b school recruitment .... and same is the case for the highest salary ...

Every1 believes they will and should get the highest salary offered coz that is still the main reason why people join any b school ...

Effect - Mental sadness, Apprehension , peer pressure , which does not help at all ...
A ITC summers is fabulous ... but is an Intern happy ? I dint get HUL, GS, LB, ABC etc etc ...

...
A 18 LPA Consulting job is awesome .... nahi yaar .. Mckisney,BCG,BAin and 30 LPA was what i wanted ....

Every1 wants what is shown in the placement report ....

you ll never see more than 20 25 cos mentioned in a placement report ... when there are more than double , or triple ( for institutes with decent batch size ) that come on campus ...

ever wonder which those cos. are ?

Ever think u could be in one of those cos.

salon se keh raha hun

Sab moh maya hai

floyd&vodka

Quote:

Originally Posted by Apurv

Ask for the average salary figures without the CTC component. If they do not have the exact data, ask for an estimate. A b-school is obliged to do this much if you’re spending a thousand rupees on their forms.

The CTC vs Gross debate ...

The placement season at IIT B is going on. I have attended around 50 PPTs till now. I have not even seen one company which included the "floor space rent" as a part of the CTC. I remember only 1 company which included the training cost in the CTC. Infact, a company would not want to do this since, if it does so, the students would not take this favorably. This would portray a poor image of the company to the students and the company may loose out on some good candidates. Hence, to say that the CTC is a highly inflated version of gross salary, is not exactly true.

Yes, the CTC certainly included the variable component. However, in most companies the variable is only about 10-20% of CTC and not more. Except for Sales profiles where the variable is linked to your sales targets and can be as high as 50% of the CTC. Yes, it does depend on the college in these cases to decide how much % of the variable should be considered to be shown as the final package received by the candidate. and yeah, esops is another tool which can be grossly misused!

Regarding asking bschools for Gross, its very tough to get this info. Not because bschools purposely want to hide it, but because many times even the companies dont give this info. They prefer to give the complete CTC and the exact break up of salary is known much later when the actual offer letter is given to the candidate. This might be as late as 2-3 months after the offer is made.

Quote:

Originally Posted by Apurv

Ask for separate average salary figures for domestic and international salaries.

This is something which should surely be done. Many times even the so called "Top bschools" combine these figures. This is only to mislead the candidates. Hence, the aspirants should always insist on separate figures.

Quote:

Originally Posted by Apurv

If you’re getting into MBA with a specific goal in mind (for example, you want to join the media industry in a business development role), ask specifically for a list of offers made in that domain in the last two years. If the b-school does not arrange those kinds of placements, it makes little sense for you to join it!

Its not only about the list of offers made, its more about the profiles. Many companies give differential profiles to the Tier 1 and Tier 2 b schools. For eg. I recently read the 2008 placement report of a school where the names of companies like HUL, Standard Chartered etc are included. However, the highest salary quoted in the report is less than the salary being offered by these companies in Tier 1 schools. SJMSOM @ IIT B almost NEVER invites companies which give differential package to the supposedly higher ranked b schools. However, many b schools may prefer to accept a differential profile just because the company has a big brand and would look good in the placement report. Hence, the aspirants should ask more about the profiles and package being offered in each school and compare it with those offered in Tier 1 schools.

Quote:

Originally Posted by Apurv

Ask for the lowest salary in the placements. In many cases, a b-school’s placements look good only because of a couple of really high packages that shoot the average up.

Yes, ask for the lowest salary as well as the median salary. These are much better figures than the highest salary and the average salary.

Regards
Ramesh

floyd&vodka

Adding on to this debate,

its not only the b schools, but its also the media which is responsible for this hype. The media always covers the 200,000$ offers, the 40 lakh domestic salary offers, but NEVER mentions a word about the offers which the bottom half of the batch gets in these top b schools.

To give you a personal examply, Aaj tak had visited SJMSOM @ IIT B 2 years back. They aired a 3-4 minute video about the placements at IIT B. In this video, they themselves converted the highest international offers into Indian Rupees in lakhs and announced it as the packages which IIT B students are getting in placements!

Even this report throws some examples. As I said, there are hardly any companies which quote "office floor space" in their packages. Atleast none of the companies in the tier 1 b schools would do so. However, these lines in the media report certainly make more interesting reading.

So, lets stop blaming only the b schools. Lets start asking more questions and reading between the lines of the media reports as well.

Cheers
Ramesh