[inevitable_huh]

One query seniors: Do PGDCM ppl get the same placements as PGDM, or is there some difference in the profiles on offer??

[subodh_iit]

@ inevi

This question has been answered umpteen times - that there is no difference whatsoever in the Placements between PGDM and PGDCM. However, u will have to go through the subjects classified under the Systems.. Hence choosing PGDCM should only be governed by your interest. And if you are interested, I suggest u to choose it even over PGDM.

@ convo
Are $225-300K offer at IIMA any different from the offers made at C? Were they made to freshers and for entry level positions? I think Associate Level offers are not a new thing this year across the Big 3 (or 2 to be more precise - excluding Bangalore).

Also at IIMB a fresher girl was offered $225K by Goldman Sachs at NY desk for entry level position - a la Junior Associate. Were there similar offers at C also extended to freshers.

[convolutedsignal]

Originally Posted by subodh_iit

@ convo
Are $225-300K offer at IIMA any different from the offers made at C? Were they made to freshers and for entry level positions? I think Associate Level offers are not a new thing this year across the Big 3 (or 2 to be more precise - excluding Bangalore).

I am not sure what the 225k offer at A was, but I know of a 225k offer in C also. I guess it must be the same bank. Associate level positions are not new, but so far only one bank -Deutsche has been offering associate level positions for all IIM grads in its London office. The 250k offer is something only the 2 at IIMC have bagged. In fact the same bank has made muliple offers at IIMC itself which offer much lesser than 250.

Also at IIMB a fresher girl was offered $225K by Goldman Sachs at NY desk for entry level position - a la Junior Associate. Were there similar offers at C also extended to freshers.

As someone who is headed to Goldman Sachs, I can personally assure you GS does not offer such packages at the IIMs for first year entry level analysts. Typically the offers at entry level are in the $65-70k range.

I guess it was a major blunder by the reporter who covered the story, Maybe they wanted the title to sound impressive "Give up one crore for music" is far better than "Give up 30 lakhs for music". Or maybe they multiplied wrong

[buzzeG]

Originally Posted by convolutedsignal

As someone who is headed to Goldman Sachs, I can personally assure you GS does not offer such packages at the IIMs for first year entry level analysts. Typically the offers at entry level are in the $65-70k range.

I guess it was a major blunder by the reporter who covered the story, Maybe they wanted the title to sound impressive "Give up one crore for music" is far better than "Give up 30 lakhs for music". Or maybe they multiplied wrong

the offer was at associate level and not analyst, and i think there is a huge difference between analyst and associate in ibanks.. given there are only 4 major rungs analyst associate VP and MD..

how can some one misquote salary.. that too by such a large margin?

[subodh_iit]

Originally Posted by convolutedsignal

As someone who is headed to Goldman Sachs, I can personally assure you GS does not offer such packages at the IIMs for first year entry level analysts. Typically the offers at entry level are in the $65-70k range.

1) $70 K sounds much more reasonable for freshers. However I have a small doubt. Nowadays even IIT fresh undergrads get Analyst level International placements in between $60-$100K (including joining bonus that ranges from $5K-$15K) SO wud not a person who left such an offer for an IIM MBA be in a considerable disadvantageous position. I mean there should be some distinction between Undergrad Analysts and MBA analysts - mebbe some intermediate position like Junior Associate or Senior Analyst

2) Well, now I a not sure about that particular stuff but I do know about one other person (fresher) in IIMB who got an offer from Goldman Sachs Asset Management , UK as Financial Analyst for GBP 110K (AFAIK). May be GS has separate pay-scales for various divisions. Also, can you throw some light on whether GS hires for India and if yes, what is the salary range offered for an Associate position.

3) While giving an Associate offer , what does an IB look forward to? I mean should the Work-Ex be only in the Core Finance job or IB job or it can also be sideways related - like that in Consultancy et al.

[convolutedsignal]

Originally Posted by buzzeG

the offer was at associate level and not analyst, and i think there is a huge difference between analyst and associate in ibanks.. given there are only 4 major rungs analyst associate VP and MD..

how can some one misquote salary.. that too by such a large margin?

There is no "Junior associate" position in any bank. And GS does not offer anything more than analyst for a fresher. I know folks with 1-2 years of actual IBD experience who have been offered analyst roles, so there. And I can say with fair level of certainity that no IIM grad has been offered an associate role by GS out of IIM directly.

How can one misquote salary??! Well, thats for our folks in IIMB to answer. And I know what role Manasi Prasad was offered. It was that of an entry level analyst. So it cannot be 225k. Any futher queries in this regard must be in the IIMB thread I guess. I do not want to delve too much on something irrelevant to this thread.

1) $70 K sounds much more reasonable for freshers. However I have a small doubt. Nowadays even IIT fresh undergrads get Analyst level International placements in between $60-$100K (including joining bonus that ranges from $5K-$15K) SO wud not a person who left such an offer for an IIM MBA be in a considerable disadvantageous position. I mean there should be some distinction between Undergrad Analysts and MBA analysts - mebbe some intermediate position like Junior Associate or Senior Analyst

2) Well, now I a not sure about that particular stuff but I do know about one other person (fresher) in IIMB who got an offer from Goldman Sachs Asset Management , UK as Financial Analyst for GBP 110K (AFAIK). May be GS has separate pay-scales for various divisions. Also, can you throw some light on whether GS hires for India and if yes, what is the salary range offered for an Associate position.

3) While giving an Associate offer , what does an IB look forward to? I mean should the Work-Ex be only in the Core Finance job or IB job or it can also be sideways related - like that in Consultancy et al.

1. IIT grads who join as analysts get pretty much the same deal. However not too many banks visit the IIT campuses for the kind of desks that come to IIMs. Most of the banks that come to IIT offer heavy quantitative roles. Also a few banks offer 2nd or 3rd year analyst and of course DB gives u an associate role at the IIMs.

2. 110k pounds!! Thats super bloody steep. They probably included the year end bonus as well which is usally around 75-125% of your base salary.

3. Associate roles in banks other than DB need prior financial experience and are offered only during the summers as a pre placement offer after interning with the banks for 2 months. Consultancy gets you credit, but it has to be real hard core for it to get you an associate role. 2-3 years of Mck/BCG/Bain as analyst might help I guess, but then again IIMs have very few people with such profiles.

[buzzeG]

Originally Posted by convolutedsignal

There is no "Junior associate" position in any bank. And GS does not offer anything more than analyst for a fresher. I know folks with 1-2 years of actual IBD experience who have been offered analyst roles, so there. And I can say with fair level of certainity that no IIM grad has been offered an associate role by GS out of IIM directly.

How can one misquote salary??! Well, thats for our folks in IIMB to answer. And I know what role Manasi Prasad was offered. It was that of an entry level analyst. So it cannot be 225k. Any futher queries in this regard must be in the IIMB thread I guess. I do not want to delve too much on something irrelevant to this thread.

wow! not only is the pay misquoted.. even the level is!! i thought GS was following DB and offerin associates.. and given the fact that she bagged it thru a ppo and not thru final placements, i thot associate must be true.. i discount media reporting generally coz they cannot make out the difference between their elbow and ther a$$.. this sounded convincing thou..

if the post was only of an analyst and no one came forward and clarified it.. it shows a sad state of affairs..

i'm imagining GS leadership wonderin why they are in the news for being rejected by a student for an offer they did not make at a level that does not exist! funny thought!!

[kalyanmarp]

so, are you saying that it would be better for an IIT ug with a decent job (10-12L), to work for 2-3 years and then do an mba from iim a,b,c? (assuming that the sole aim is compensation package maximization)

or should he join iim and try his luck at the iim placements? what would you suggest?

(ps: i am one such iitian eagerly awaiting iim results and trying to decide between job vs mba)

[harshg]

Anyone savvy on the breakup of these Salary Contrats Offered.

1) How does $60K get broken up into it's components.
2) When does this entry level Analyst salary get re-evaluated; yearly or six monthl / quarterly... or with the change of role which would be at the end of the life of contract.
3) Does the Contracted Amount contain the variable incentives (usualy organisations show an incentive component in the CTC)
4) India has started the FBT and hence there is a tendency to disburse a basket of allowances in the salary and tax it at source--- do the videshis give incentives for maintaining a standard of lifestyle eg Club Membderships; Holidays; Shopping Cards, Subscriptions to Trade Journals etc.... are these also on the Salary Contract ?
5) Is there a performance bonus which is not contracted ?

And sabse badaa sawaal. Does anyone know of someonw who get's paid a Dollar Salary and is based in India. Typicaly someone who is on a US_Comp_Market_Payroll and is based in India.
I remember reading of something like this.

H.

[harshg]

It would be good for any bloke... IITian ot otherwise to get a salary pack of 10-12 L in India.

And pardon my sounding my age; but which industry/organisation offers a 10-12 L in India for an IIT grad ??

H.

Originally Posted by kalyanmarp

so, are you saying that it would be better for an IIT ug with a decent job (10-12L), to work for 2-3 years and then do an mba from iim a,b,c? (assuming that the sole aim is compensation package maximization)

or should he join iim and try his luck at the iim placements? what would you suggest?

(ps: i am one such iitian eagerly awaiting iim results and trying to decide between job vs mba)