I have seen a lot of threads since I have been in PG, of people troubling to decide between IIM/ISB and Foreign B Schools. Most of the people who decide on Indian B Schools do it for 2 reasons mainly: 1. Working in India after MBA 2. Plac…
I have seen a lot of threads since I have been in PG, of people troubling to decide between IIM/ISB and Foreign B Schools. Most of the people who decide on Indian B Schools do it for 2 reasons mainly:
1. Working in India after MBA
2. Placements
Do these 2 reasons really make the Indian B Schools top choice?? This is what I understood about them:
1. Working in India after MBA: Thats really funny to think that you will not be getting a good position if u do an MBA overseas compared to Indian school. Alumni of the best schools overseas in India is an example of the kind of positions people can get. More over, people who say that they wanna do MBA in ISB/IIM so that they can work back in India look for Abroad positions in the placement season 
2. Placements: 100% Placements is what attracting a lot of people. Add to that, the highest salary moolah. Why is that Indian B Schools are not reporting a detailed placement report? Why only CTC and why not base salary? Why only Average and why not median? I heard that the salary what people with 4-5 years exp graduating out ISB gets range between 6-10 Lakhs PA. People with 4-5 years enter the college with a salary of around 5-6 Lakhs. (I am specific abt IT here though). Are we getting a real HIKE and ROI that we leave away Foreign B Schools which are genuine in enough in admitting that 80-90% placement reports with a detailed report and average of base salaries??
What say??
I agree.
Most Indian b-schools DO NOT report salary figures in any detail. You only get the highest CTC.
Look at most (if not every b-school) in US. They give you salary figures as base salary, signing bonus, year-end bonus. Some even give you a break-up of salary figures based on industry. So you can check out what's avg for marketing, consulting, IB. Even the IIMs nothing. Just check their websites. Absolute zero data on salaries.
And ISB include IT consulting within consulting numbers. Now, look guys when someone says consulting it really means Management Consulting (MC).
I dunno if it is carelessness in not giving detailed figures or are the b-schools in India is hiding something.:satisfie:
Regards
And ISB include IT consulting within consulting numbers. Now, look guys when someone says consulting it really means Management Consulting (MC).
I dunno if it is carelessness in not giving detailed figures or are the b-schools in India is hiding something.:satisfie:
Regards
Yeap..ISB's Consulting includes IT Consulting and of course, its better to say that its consulting figures includes MC as IT Consulting is the major chunk in it.
Its obviously not carelessness. If the figures are good they will definitely detail every thing. For eg, last year or the before year, I saw IIMs including the overseas salaries(by converting them to INR) when they calculate the Average Salaries and this time they have given Avg Domestic and Avg Overseas salary separately which tells it all.
There might be a time when they will say we have got 250000$ highest salary which is highest in the WORLD itself :satisfie:
Regards
Nagendra
I know we've had many threads on CTC being closed by mods....but I still really wish that someone could post an example of the different headings and amounts that make up a typical 6.5 lac CTC.
To so many freshers, the CTC concept is hugely misleading and ending up with 25K real "in hand" money after huge post-MBA expectations can turn their RoI calulations up-side-down.
I know we've had many threads on CTC being closed by mods....but I still really wish that someone could post an example of the different headings and amounts that make up a typical 6.5 lac CTC.
To so many freshers, the CTC concept is hugely misleading and ending up with 25K real "in hand" money after huge post-MBA expectations can turn their RoI calulations up-side-down.
A Typical break up of CTC might be like this:
CTC: 6.5 Lakhs
Bonus: Some 10-20% depending on Companys performance: 50000 - 1 Lakh (This may be even high in case of MBA prof)
Basic: Normally about 30-50% of gross: (in case of MNCs AFAIK): Around 2.5 Lakhs
PF: 12.5% of Basic from ur side and 12.5% from company both from ur salary: 60000 Approx
Gratuity: Half of ur monthly salary: Approx 20000
And then there is TAX which is common any where. So for a 6.5 Lakhs in an Indian Company u will end up getting 30-35000 Take Home
In Contrast, Overseas schools report base salaries which means all these BONUS and other benefits are not included.
Thanks nagsformba, that helped.
Forgive a freshers ignorance. But could you please enlighten me about what exactly provident fund and gratuity mean ? Currently the rough idea that I have that it is some kind of money that you get only when you leave the company after having worked with them for a minimum period of time..like say...3 years. Is that anywhere close to the truth ?????
I still wouldn't mind seeing some real salary figs here....with the exact amount offered under HRA, LTA, Basic, PF, Gratuity etc. I know it's too personal for most. But if somebody doesn't mind...would be cool.
There are three reasons for this...
1. Their average salaries are very low compared to top foreign Bschools even when compared to only the foreign jobs offered. Its best to hide your weakest points.
2. The average Indian is easily fooled. Its imperative that they be fooled as much as they demand to be.
3. Indians rate education as having a big role in future success unlike western countries, so for the indian media the highest salary makes interesting front page news especially due to the point 2 mentioned above.
K
Thanks nagsformba, that helped.
Forgive a freshers ignorance. But could you please enlighten me about what exactly provident fund and gratuity mean ? Currently the rough idea that I have that it is some kind of money that you get only when you leave the company after having worked with them for a minimum period of time..like say...3 years. Is that anywhere close to the truth ?????
I still wouldn't mind seeing some real salary figs here....with the exact amount offered under HRA, LTA, Basic, PF, Gratuity etc. I know it's too personal for most. But if somebody doesn't mind...would be cool.
You will get the PF when ecver you intend to. Gratuity will be given only if you stay with the company for 5 years. HRA is 40-50% of basic depending on location.
BTW, who says that "Indian B Schools give only Highest Salaries" ???
Yes, they lay an unnecessary stress on it...but all the b-schools I have ever considered joining also mention average salaries of various kinds.
Ahem...eye eye pee yum doesn't mention average salaries, does it ?
Hallo from your disscussion It seems that its better to study abroad?
why highest salary(sometime converting the dollars in rupee)!!!ask all the B-Schools..Strong point --highlight it..Not mentioning detail of the placement and salary--week point
ha ha...its so easy to fool people...and its even better when the people are desperate enough..
what should one do?
http://www.pagalguy.com/discussions/mba-for-physically-handicap-25014906
please go here and answer
Omkar
People go for indian B schools because of the exclusivity factor. India is big on comparisons. " Im doing my MBA at IIM - A " is the smug refrain of people.No one gives a **** ass about quality of education or even i dare say CTC.... If you get into an IIM,even if the CTC is 1.2 lakh, most people would take it..Its all about being better than your neighbour....If they start 100 IIMs tomorrow with an intake of 200 each, NO ONE would go to the IIMs even if they have a better standard than today...
Being from a technical background i can say for SURE that MIT is a billion times better than our IITs....but hey...how many get in? 1 in 60? so it must be the best in the world....
People go for indian B schools because of the exclusivity factor. India is big on comparisons. " Im doing my MBA at IIM - A " is the smug refrain of people.No one gives a **** ass about quality of education or even i dare say CTC.... If you get into an IIM,even if the CTC is 1.2 lakh, most people would take it..Its all about being better than your neighbour....If they start 100 IIMs tomorrow with an intake of 200 each, NO ONE would go to the IIMs even if they have a better standard than today...
Being from a technical background i can say for SURE that MIT is a billion times better than our IITs....but hey...how many get in? 1 in 60? so it must be the best in the world....
Yes..Selectivity factor plays a major role in India...People will think that, hey if 1 lakh people are taking CAT and there are only 1250 seats, there is a lot in it :
4-5 years down the line, I think ISB may attract some 10000 apps and soon people will say that they get more apps than Harvard and Stanford also
I want to know that being a physically challenged person is it better to try abroad than India for work envorn or progress.
Omkar
Omkar
I want to know that being a physically challenged person is it better to try abroad than India for work envorn or progress.
Omkar
Please check the topic of the thread before posting your question. Don't you think its nonsensical to butt in like this and ask the same inane question repeatedly ?
Arun
Well the biggest problem with the salaries reported by Indian schools(in dollars/rupees) is that they include the Bonus compnent. By Bonus I dont only eman the year end bonus/ but all quarterly/monthly/yearly variable salary components. They also dont segregate joining bonuses seprately.
Another pain point I have is they do not publish median information.
-Amit
Please check the topic of the thread before posting your question. Don't you think its nonsensical to butt in like this and ask the same inane question repeatedly ?
Arun
Hi arun
Cool it bhai! this guy is looking for some help. he probably didnt know his way and is looking for guidance for wherever he can get it. also i can now see a separate thread for the topic.
chill out. sometimes ppl do not realise such things. it happens
Errr...I reapeat an earlier question. Which Indian b-school mentions only highest salary ? I think none in the top 15-20.