Guys..its really sad to see whats happening hereand im already sick of receiving calls during my holidays to come and respond..anyways.id plan to make sense one more time as my last post went waste anyways.
Barring one company Power Finance corporation - no company added training cost in their ctc and barring two companies UTI Bank and Power Finance Corporation no company added interest benefits to their ctc. The companies pay half you interests on the home loans and vehicle loans availed by u. For ex. UTI bank pays interest on home loans which comes to over rs 60000 per annum and also another 25k for vehicle loan on ur behalf..Approx in most companies, this componant alone comes to Rs 1 lakh. Add training cost and other benefits to the salaries stated by the companies and u do get the average salaries as quoted.
The salaries quoted at MDI as CTC by the companies included, basic, DA, HRA, Special allowance(cash componant which can be adjusted anyways u want to), medical, gratuity, provident funds and some mentioned leave travel.
MDI cannot quote blatantly wrong figures as they can be questioned. But yes, this has been the standard paramter to calculate our ctc and MDI has not backed out from mentioning what they have added to form the CTC. How many of the other instis are giving u the exact breakup?
I don't wana support my institute coz I have mixed feelings towards everything in life. But yes, I guess, in this particular context, things have been blown out of proportion. You guys heartily wished prateek, raj, qwezark, sammy, ashima, etc when they took time off to tell u ur calls, to help u in ur gd/pi, u guys said MDI was doing a great job..but today ur belting the same guys for no mistake of theirs..the official figures have been put up by the placement committee..why blame these guys for all this?
I have no soft corner for my juniors or batchmates either..infact frankly..if u ask me whom id wana stay in touch with 10 years down the line..i can name only 4 professors out here who have provided terrific support throught my stay education wise and other wise. They have been my true friends here with whom ive shared everythingso I wont get anything by supporting my juniors or insti.
Regarding the salaries.bschool salaries have always been blown out of proportion by every bschool. Too much hypeive always tried to state the truth.and have gone to the extent of posting that MBA itself is not a requirementits all hype..too much of it..im doing that coz this forum has given a lot to me and I don't want to misguide people here. Bschools have become nothing but employment exchanges for the junta now and nobody seeks beyond placements. Theres a lot to get out of a bschool and until u guys realize that..ul only stick to one parameter throught ur lives - PLACEMENTS.
Average Salaries- top salaries - ctc, gross -------- all bullshit. Cash that I can take home for me and my family..the north India head and his team who had come to interview me told me that I can take close to 30k home (depending on how I plan my tax) average for MDI in terms of take home cash this year would be 35k.there are quite a few companies who are payin over 50k in cash and Im sure there are over 25 students atleast who fall in this category. Most fall in the 30-38 category
One more incident id like to bring to ur noticeI don't blame u guys for ur outburst against MDI.but yes.there was one more top insti which had its placements sometime before we guys did. They quoted an avg salary close to 7.5 lakh..but frankly 6 of my friends study there and I know the true picture..and my very close friend told me that SBI Bank was a Day Zero company there.while at MDI SBI was one of the last companies on campus who could harldy get the number of students they wanted. It was one of the later companies on Day ONE. I knew 7.5 lakh was hogwash, given the companies that visited there..but yes, I had nothing to say coz each insti has its own parameters of calculating their ctc salaries and one must learn to respect that. If u cant, then ask for cash componant details and make ur own judgements..u don't have to strip every post made by a bschool.
For the uninformed, here are the details of the companies that visited /were slotted for placements:
FMCG/Consumer Durables:
Agrotech, Asian Paints, Cavin Kare, Cadburys, Dabur, Gillette, Godrej, GSK Consumer Healthcare, ICI Paints, ITC, Nestle, Reckit Benkieser, Whirlpool, Goodlass Nerolac, Samsung, Loreal..though the later companies didn't get students to recruit
Banks and Financial Institutions:
Deutsche Bank, BNP Paribas, HSBC(Amc), American Express, Inductis(offering over 8 lakh and non differiantial unlike what somebody said earlier), GE Money, GECIS, GE India, UTI Bank, SBI Caps, SBI Bank, IDBI Bank, IDBI Ltd, HDFC Bank, JP Morgan ERG, JP Morgan CRG(for both laterals and freshers.laterals with higher than entry salary - entry salary being 6 lakhs plus benefits for ERG), Power Finance Corporation, Securities Trading corporation of India(empty handed), ICICI Prudential, ICIC Lombard, Pulsar Knowledge Centre(offering 5.5 lakhs at entry levels conducted processes for 3 lateral candidates who rejected their offers and so the company went back empty handed), CARE(empty handed), GHF Financials for trading(empty handed), Aranca Equity research( empty handed)
Consulting:
William Mercer Consulting, Hewitt Associates, KPMG, Delloite Haskins and Sells, Kurt Salmon Associates - Technopak, Grant Thorton, Grow Talent(HR Consulting)
IT/ITES
IBM Global Services, Hewlett Packard(5.75 for freshers and 7 lakh for laterals), Tata consultancy services(laterals plus finals), I-Gate, Wipro(laterals and finals), Infosys(laterals and Finals), Satyam(laterals), SIFY(laterals), Ramco Systems(my roomie with 4 years exp got in J ), Birla soft(laterals - payin over 7.5 lakh gross salary), HCL Techonologies, Patni Computers(laterals only - paying over 7 lakh).. EXL Services, Evalue Serve, E serve, carritor, HCL Comnet, NIIT, though none of these later companies got any students.
Pharma:
Ranbaxy, Glenmark, Wockhardt(International Marketing Division), Lupin Pharma(supply chain management), Dr Reddys Laboratories..though only Ranbaxy Glenamark and Lupin got guysrest didn't.
Telecom:
Bharati(paying over 7.5 lakh exclusive of interest benefits, mobile bills, telephone facilities for home, etc etc), Siemens, IDEA Cellular and Tata TeleservicesBharati got over 4 guys and Idea and Tata Teleservices got none..
Groups:
Aditya Birla Group, Anand Group, DCM Shriram, Usha International Ltd,though only Aditya Birla Group got students
Others
British Oxygen Company, DHL(supply chain), Eicher, Group M, Maruti, NDPL, Star TV(picked up a guy with 3 years experience).though only DHL and Star TV got guys.
Ive posted these details just to ensure u guys have enuf information to make ur own judgements..use this forum to make judgements, not pass unwanted comments coz frankly.u guys should be bothered of ur take aways from here..making blatant comments dosent serve any purpose.
Guys.ive laid down the whole scenario in front of uevery bit of information Ive hadand I hope u understand that we as students are not here to boast of something which we are not. Ive give u the break up of average cash/take home salaries..ive given u the reasoning for the 8.3 lakh avg salary(which given the parameters stated by the placement committee holds true)..ive tried and answered most of ur questions. As regards international placements..somebody mentioned we didn't have them.ofcourse we did, but they were turned down coz of the students personal problems. Infact, we were one of the first schools to get international offers this year and the article was out in the newspapers that my batchmate had an international offer from Philips but we have not mentioned it as it was not taken..we have not mentioned anything which has not been taken by the studentsbut ya.with what offers have been accepted, the ctc which the college feels is the best measure and has been practicing every year has been considered. We have been honest enuf to give u the exact break up of the ctc that we have quoted..believe me, not many schools would wana do that.
I hope atleast now, some sanity and peace would follow here and also a word of advice to the junta..kindly understand that the ctcs, average salaries are all exaggerated, but each institute has its parameters and mention their salaries accordingly..so why blame a particular institute??????? Again its not coz im from MDI, but even as i browse thru pgforum it gets disgusting to see this every now and then.....
luv
bingo
...... and a few other companies, which i cannot recall off my mind.......excuse me for that..... :)
