So that there is no doubt as to who the “BIG DADDY” of the Indian placement scene is !!! :: http://economictimes.indiatimes.com/articleshow/1479076.cms NEW DELHI: The Indian School of Business on Wednesday reported a 21 per ce…
So that there is no doubt as to who the "BIG DADDY" of the Indian placement scene is !!!
http://economictimes.indiatimes.com/articleshow/1479076.cms
NEW DELHI: The Indian School of Business on Wednesday reported a 21 per cent jump in the average international salary offered to its students, with the highest offer crossing a Rs 1 crore annual package.
"This year four of our students crossed the salary package of 2,00,000 dollars with the highest offered being at 2,33,800 dollars (approximately Rs 1.04 crore)," Indian School of Business Deputy Dean Ajit Rangnekar told reporters here.
He said the highest international salary was offfered by an Indian technology company for a global leadership position.
The average internationlal salary stood at $1,20,700 (approximately Rs 53.5 lakh), which is up 21 per cent from that of last year, he said.
The domestic average salary also witnessed an increase of 18 per cent at Rs 11.77 lakh, while the highest Indian salary for an ISB student this year was Rs 30.33 lakh, Rangnekar said.
Of the top four students getting the highest salary offers, two were women, he said.
The highest international offer made to a woman student this year stood at $2,23,400 (aproximately Rs 1.01 crore), while in the domestic scene it was Rs 20 lakh. The average salary offered to women students stood at Rs 9.89 lakh.
Out of 345 students in the 2006 batch, 328 took part in the placement process and over 145 companies visited the school campus, he said.
"A total of 425 offers were made to our students, which is up 21 per cent from last year," he added.
@returnmack: it is nice (ok perhaps great! ) to hear such astounding salaries and we PGites are indeed evry happy for them..ya da yada.
but d00d seriously who are you??? all the posts of yours have been just sensationalizing (not sure the word exists..) the ISB salary stuff.
We have no problems with that (remember we are happy and all..) but then you are hardly adding any value to the posts. I mean if atleast one of ur posts had more info regaridng the profile of the job offered and the profile of the candidates it would have added that much more credo to ur posts.
If you are part of the "marketing department" of ISB please do the marketing stuff elsewhere. Else kindly identify yourself 😃 and add more info than linking an article from economic times .
but d00d seriously who are you??? all the posts of yours have been just sensationalizing (not sure the word exists..) the ISB salary stuff.
We have no problems with that (remember we are happy and all..) but then you are hardly adding any value to the posts. I mean if atleast one of ur posts had more info regaridng the profile of the job offered and the profile of the candidates it would have added that much more credo to ur posts.
If you are part of the "marketing department" of ISB please do the marketing stuff elsewhere. Else kindly identify yourself 😃 and add more info than linking an article from economic times .
@returnmack: Bhaiji, every damn post of yours talks about ISB Salaries...:wow: Oxymoron, I wonder if this guy is from ISB marketing department... seems like he even dont know how to market the college 
... salaries are not the only thing ppl (esp PGites) look at... and we have seen this "highest salary thingie" too many times... it doesnt gel well here... especially when people are not aware of the profile of students who receive such staggering salaries... So if you know please post the profiles of ppl who received such salaries...
Ketan
... salaries are not the only thing ppl (esp PGites) look at... and we have seen this "highest salary thingie" too many times... it doesnt gel well here... especially when people are not aware of the profile of students who receive such staggering salaries... So if you know please post the profiles of ppl who received such salaries... Ketan
Guys frankly speaking I have no idea about ISB. I would like to know what ketan and oxymoron has mentioned - the amount and kind of work experience and the kind of profile of candidates which get admission into ISB. Need to know what all I have to do before I even think of applying to ISB. Any help in this regrad will be deeply appreciated.
thanks in advance.
thanks
Iwillmakeit
returnmack hope you dont return again with incomplete posts. As Oxy and Ketan pointed out all your posts have been shouting out loud the "astounding" placements at ISB this year. It does feel good to hear Indian MBA grads scaling new heights but it's real a mockery of sorts when you project the incomplete picture in the form of an eye catching news.
Penning my views even though this is a redundant thread Firstly converting USD to INR and then looking at the whole picture gives it an entirely distorted outlook. Its even more ridiculous to see the institutes portraying it. Coming to ISB from a total of 425 offers 424 were laterals that speaks much about the class profile, moreover almost all the positions offered were at senior management level.
This article which appeared in the same newspaper touches upon some of the facts that one should know before gaping at that 6 figs :)
Chinks in the Money Machine
Record-Breaking salary figures are the only things that seem to attract attention this placement season at B-schools across the country. For those who read of these offers in the newspapers and watch them on television channels here's one small piece of advice: don't believe everything you see.
For many students the final take home salary could be nowhere near the numbers quoted to the outside world. Not all salaries will end up this way of course.
In fact, several companies are now adopting a simple structure where they offer the candidate a certain sum under two or three specified heads rather than jumble up the amounts under a plethora of areas.
A typical example is the presence of just basic salary and house rent allowance (HRA) along with the employer's contribution to provident fund in the salary break-up.
However, there are still companies that don't simplify. So, here are a couple of things that everyone must keep in mind when looking at any figure quoted at campus placement time.
When you see a figure of say Rs 8.4 lakh don't believe that the person will have Rs 70,000 coming into his bank account every month.There is quite a way to go and several items to negotiate before this becomes a reality for the actual amount earned will be lower.
Next, distinguish between a one-time figure and a recurring figure. This means that there are several items included in the quoted salary figure that are received by the individual just once and there is no guarantee of them coming in the future. This includes joining bonus, relocation allowance and even performance bonus that is contingent upon the situation each year.
To help you through the salary maze remember the 'cost to company' concept. This is nothing but the amount that a company is likely to spend on an employee and would even include items that the employee might not want.
So, in some cases, the company does not actually spend on these at all and hence they are notional. This notional figure must be distinguished from the amounts received by the employee.
Now, what companies include in the cost to company figure depends upon individual company policy. Thus, someone could include future retirement benefits in the final figure, while others will just count the current year's contribution to such future benefits.
This brings up another important point, which is that the cost to company figure will never tally across different companies. This is why, in most cases, looking at average salaries across campuses is a worthless exercise as there is no clarity on the method of calculation.
All this might seem unreal and hence here are a few examples to bring reality closer home. First is a case where a basic salary of Rs 25,000 plus a house rent allowance of Rs 10,000 and other reimbursements of Rs 10,000 a month result in a quoted CTC of a cool Rs 7 lakh. The difference in the figure arises out of expenses on a laptop computer appropriated at a certain percentage plus interest expenses on concessional loans offered by the company.
Next is an offer of Rs 9.5 lakh per annum, where the take-home after taxes is around Rs 47,500 per month, including allowances. What accounts for the difference? Well, housing provided to the employee, which is valued at a certain figure, plus training expenses that the company will incur when they send you abroad. Then there are retirement benefits added to the packet that will kick in only if you stay with the company for a certain period, usually five years or more.
If you think that such juggling is restricted to Indian companies and rupee salaries then read on. A similar situation is experienced with foreign salaries too, where the only difference would be the heads of items.
Before looking at some details here remember one basic point: never convert foreign salaries into Indian rupees and then gaze wonderstruck at the Re figure for this gives the wrong picture. Consider a figure of $75,000.
The amount may look huge when converted into rupees but this is a salary earned in New York and spent largely in New York. One has to consider a salary figure relative to the country where it is earned and then see whether it is generous or just fair after taking into account the cost of living and working overseas.
Once this is done realise that the foreign salary more often than not contains several elements that are not direct payouts and these might not be guaranteed either. This includes expected bonuses that might or might not be realised. Thus, a bad year could play havoc with the overall salary figure.
This is especially true for investment banking firms where the possibility of meeting bonus targets is high if there is a good year. Contribution to retirement funding will also be a part of the salary and thus expect that to be added to the overall figure.
Similarly stock options (if any) are also taken into consideration and these will not come in hand till they are actually vested, which could mean a wait of three-five years.
Other items to watch for are joining bonuses or relocation expenses, which are one-time payouts.After all this there are taxes to consider, which will reduce the figure even further. Once all those lakhs have been put into perspective, consider this: just a few people in a batch will manage to net those headline-making salaries.
hope you dont return again with incomplete posts. As Oxy and Ketan pointed out all your posts have been shouting out loud the "astounding" placements at ISB this year. It does feel good to hear Indian MBA grads scaling new heights but it's real a mockery of sorts when you project the incomplete picture in the form of an eye catching news. Penning my views even though this is a redundant thread
Firstly converting USD to INR and then looking at the whole picture gives it an entirely distorted outlook. Its even more ridiculous to see the institutes portraying it. Coming to ISB from a total of 425 offers 424 were laterals that speaks much about the class profile, moreover almost all the positions offered were at senior management level. This article which appeared in the same newspaper touches upon some of the facts that one should know before gaping at that 6 figs :)
Chinks in the Money Machine
Record-Breaking salary figures are the only things that seem to attract attention this placement season at B-schools across the country. For those who read of these offers in the newspapers and watch them on television channels here's one small piece of advice: don't believe everything you see.
For many students the final take home salary could be nowhere near the numbers quoted to the outside world. Not all salaries will end up this way of course.
In fact, several companies are now adopting a simple structure where they offer the candidate a certain sum under two or three specified heads rather than jumble up the amounts under a plethora of areas.
A typical example is the presence of just basic salary and house rent allowance (HRA) along with the employer's contribution to provident fund in the salary break-up.
However, there are still companies that don't simplify. So, here are a couple of things that everyone must keep in mind when looking at any figure quoted at campus placement time.
When you see a figure of say Rs 8.4 lakh don't believe that the person will have Rs 70,000 coming into his bank account every month.There is quite a way to go and several items to negotiate before this becomes a reality for the actual amount earned will be lower.
Next, distinguish between a one-time figure and a recurring figure. This means that there are several items included in the quoted salary figure that are received by the individual just once and there is no guarantee of them coming in the future. This includes joining bonus, relocation allowance and even performance bonus that is contingent upon the situation each year.
To help you through the salary maze remember the 'cost to company' concept. This is nothing but the amount that a company is likely to spend on an employee and would even include items that the employee might not want.
So, in some cases, the company does not actually spend on these at all and hence they are notional. This notional figure must be distinguished from the amounts received by the employee.
Now, what companies include in the cost to company figure depends upon individual company policy. Thus, someone could include future retirement benefits in the final figure, while others will just count the current year's contribution to such future benefits.
This brings up another important point, which is that the cost to company figure will never tally across different companies. This is why, in most cases, looking at average salaries across campuses is a worthless exercise as there is no clarity on the method of calculation.
All this might seem unreal and hence here are a few examples to bring reality closer home. First is a case where a basic salary of Rs 25,000 plus a house rent allowance of Rs 10,000 and other reimbursements of Rs 10,000 a month result in a quoted CTC of a cool Rs 7 lakh. The difference in the figure arises out of expenses on a laptop computer appropriated at a certain percentage plus interest expenses on concessional loans offered by the company.
Next is an offer of Rs 9.5 lakh per annum, where the take-home after taxes is around Rs 47,500 per month, including allowances. What accounts for the difference? Well, housing provided to the employee, which is valued at a certain figure, plus training expenses that the company will incur when they send you abroad. Then there are retirement benefits added to the packet that will kick in only if you stay with the company for a certain period, usually five years or more.
If you think that such juggling is restricted to Indian companies and rupee salaries then read on. A similar situation is experienced with foreign salaries too, where the only difference would be the heads of items.
Before looking at some details here remember one basic point: never convert foreign salaries into Indian rupees and then gaze wonderstruck at the Re figure for this gives the wrong picture. Consider a figure of $75,000.
The amount may look huge when converted into rupees but this is a salary earned in New York and spent largely in New York. One has to consider a salary figure relative to the country where it is earned and then see whether it is generous or just fair after taking into account the cost of living and working overseas.
Once this is done realise that the foreign salary more often than not contains several elements that are not direct payouts and these might not be guaranteed either. This includes expected bonuses that might or might not be realised. Thus, a bad year could play havoc with the overall salary figure.
This is especially true for investment banking firms where the possibility of meeting bonus targets is high if there is a good year. Contribution to retirement funding will also be a part of the salary and thus expect that to be added to the overall figure.
Similarly stock options (if any) are also taken into consideration and these will not come in hand till they are actually vested, which could mean a wait of three-five years.
Other items to watch for are joining bonuses or relocation expenses, which are one-time payouts.After all this there are taxes to consider, which will reduce the figure even further. Once all those lakhs have been put into perspective, consider this: just a few people in a batch will manage to net those headline-making salaries.
Just got this from one of my friends. Wanted to share it with you all...
http://economictimes.indiatimes.com/articleshow/1479891.cms
Of course there is the factor of high experience of the candidates to consider, but if anyone could throw some light on this, it would help a lot of people.
P.S. Me is definitely not from ISB. I am joining another very reputed college. Just wanted to share this info. Thatz all.
http://economictimes.indiatimes.com/articleshow/1479891.cms
Of course there is the factor of high experience of the candidates to consider, but if anyone could throw some light on this, it would help a lot of people.
P.S. Me is definitely not from ISB. I am joining another very reputed college. Just wanted to share this info. Thatz all.
ISB is a great institute and no wonder that its students are receiving such exorbitant salary packages. But the thing to consider here is that ISB only takes students with I think atleast 2 yrs of work-ex and the majority of ISB students already have anywhere between 3-7 or even more years of work experience at considerable positions in their previous companies. Also there was a news somewhere that many students join ISB planning for a career shift. Now with this kinda profile, one wudn't expect the guys to get salary packages any lesser than this....
1 crore salary.......:crazyeye:
hmmmmm.diffficult to digest...
would be better if ISB people could post the offer letter of that hallowed person
here...otherwise.....:argue:
the person who has been offered the highest salary has 10 years of work ex...
this is one of the factors that we forget everytime we talk abt salaries
source: TOI, Mumbai, 6th april 2006, 1st page
Talking purely in placement terms..
if a 3 years exp in ISB gets much much more than a 3 year exp in a top 5 college in India..it is still a great feat...can we find this out?????
??:
and amitnsitian...thanks for that piece of info from TOI....cleared up a lot.
in_finity SaysISB is a great institute and no wonder that its students are receiving such exorbitant salary packages. But the thing to consider here is that ISB only takes students with I think atleast 2 yrs of work-ex and the majority of ISB students already have anywhere between 3-7 or even more years of work experience at considerable positions in their previous companies. Also there was a news somewhere that many students join ISB planning for a career shift. Now with this kinda profile, one wudn't expect the guys to get salary packages any lesser than this....
1 crore salary.......:crazyeye:
hmmmmm.diffficult to digest...
would be better if ISB people could post the offer letter of that hallowed person
here...otherwise.....:argue:
What's really difficult to digest is the fact that the institute itself is playing up the "1 crore rupees" tag so prominently. Geez. The media gets bashed around a lot on PG for these over-sensalisations but when the official release from the insti itself seeks to glorify figures by converting them from dollars to rupees, why blame the media for it?
Nice to see women being among the top four..whew at 27 itself!
The real competition will between IIM & ISB will be there only when first batch 1yr MBA programmes for executives of IIMs(at least IIMA) passes out.
why do people just take into account the salary figures only?? see the kind of profiles being offered man....it is the kind of profile that matters the most....if u see the avg. salaries at top B schools in the world they will be only around $1-1.2 lakh . but the profiles being offered are really gr8. they really get the profile which they have dreamt of and enjoy doing which matters here. also with these kind of profiles and the interest u show in ur dream profile will make sure that u rise to the hierarchy really fast. so salaries will automatically increase at that stage.
so guys tehse are just the entry salaries but with these dream profiles these people rise so fast in their careers and their pay packages that one will really be astonished.
and the profiles being offered at ISB are really gr8 and comparable to good global B school. this is what matters in the end.
these type of profiles are not offered in many of the B schools in Indis. mark my words MANY !!
My two cents..
Well.. first of all.. It is outrageous even to convert dollars to rupees.. Coz as the above article has already pointed that this sum is earned and spent in dollars and in a some costlier city than anywhr else in india whr the cost of living index is much-much higher..
Not to forget the perks and other things (Have heard that some include floor rent into the salary as well 
.. not really sure abt it..) for which you never get that amount..
Just to add.. before going ga-ga over the salary we shud also look at the profile of the concerned person.. he might hav >10 yrs. exp. must have been VP of a company previously.. So he can expect more moolah..
SO these r the things in my view tht shud be kept in my mind..
i will make 3 points
1)Why multiply salary by 45....coz in actual terms the PPP is around Rs. 9 for 1$.
and that makes even the fully farted salry of 191k$ By IIMB equal to 17 lacs that is much lesss than the again farted domestic salary quoted by IIMA of 34 lac:wow: .
2)Does these instis have the guts to display the offer letter of those persons quoted in the news (191,000 and 184,000 and now this 1crore by ISB).
3)again ISB takes people with more than 3 yrs work ex rite?? so if their avg salary is more than IIM than ?????
~NOM
i will make 3 points
1)Why multiply salary by 45....coz in actual terms the PPP is around Rs. 9 for 1$.
and that makes even the fully farted salry of 191k$ By IIMB equal to 17 lacs that is much lesss than the again farted domestic salary quoted by IIMA of 34 lac:wow: .
2)Does these instis have the guts to display the offer letter of those persons quoted in the news (191,000 and 184,000 and now this 1crore by ISB).
3)again ISB takes people with more than 3 yrs work ex rite?? so if their avg salary is more than IIM than ?????
~NOM
1) every insti does that..so not an issue
2) not posible as this will reveal name of the company and the person who got that offer, which is against the ISB policies
3) agreed, average work ex is 5 yrs and average incoming salary is 5 lacs...so really NOT a big achivement
1)there is an issue...coz this has to stopped.....coz my relatives think i am going to get 1 crore rs per year0....all of the india is not so knowledgeable...this is simply making fool....
1 crore ...:angry:
2)dude every insti reveals the name of company....IIMB so called 193,000 is being offered by barclays...and this is being quoted everywhere if someone is quoting some thing in media then we have the right to knw who made the offer(now right to information is also passed).
3)we agree on that
ru frm ISB?(looks like NSITian though)
1) every insti does that..so not an issue
2) not posible as this will reveal name of the company and the person who got that offer, which is against the ISB policies
3) agreed, average work ex is 5 yrs and average incoming salary is 5 lacs...so really NOT a big achivement
1)there is an issue...coz this has to stopped.....coz my relatives think i am going to get 1 crore rs per year0....all of the india is not so knowledgeable...this is simply making fool....
1 crore ...:angry:
2)dude every insti reveals the name of company....IIMB so called 193,000 is being offered by barclays...and this is being quoted everywhere if someone is quoting some thing in media then we have the right to knw who made the offer(now right to information is also passed).
3)we agree on that
ru frm ISB?(looks like NSITian though)
1. well taken...every1 should stop this
2. it is ISB's "policy" of hiding the things etc.
yup, i am from NSIT delhi..not from ISB..but will be trying for it shortly 😁