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Salaries at IIM-C see a rise-A farmer pays for it

Salaries at IIM-C see a 20 to 50% rise.

IIM Calcutta (IIM-C), which extended its final placements process over two weeks last year, is likely to wrap up the process in less than a week this time, with a significant rise in the number of offers each student has received.This year, the institute has around 280 students for placements. Sources in the institute say salaries have increased by 20 per cent to as much as 50 per cent in some cases. The institute had started off this year with 215 offers in hand.

This shows a healthy sign that the economy is slowly coming up.

The Start

My opinion  on this aspect of  students from top B-schools getting a whooping pay package is a bit different.

  • The Big company heads go out to the top B-schools to hire the cream of the MBA society.
  • They get them by offering  a mind boggling pay package.(most of the time the b-school student is a fresher)
  • Current employees of this Big company feel that if a fresher in the company is getting a big pay, it is presumed that their pay should be more than the fresher’s pay. So the cycle goes on and inevitably the company head’s pay increases and he  is happy and has no complaints.
  • Due to this trickle down effect, the cost of employment has gone up and companies need to do something to stay afloat . So the cash inflow  would obviously be from two sources.First source would be  the investors of the company(Why would the investors take this toll) and the second source would be the CONSUMER. The Company’s choice would obviously be the consumer.
  • These series of activities would tantamount to a farmer in a tier-III town in India who is struggling to make ends meet for his family is paying the obnoxious salaries of fresh MBA’s to CEO’s of  the some of the biggest names in the corporate world.
I am not saying an MBA fresher from a top B-School should not get a good salary but they should not be given an unreasonable salary on the context of  a company hiring the cream of the society.

The IIM’s are government sponsored so the  fee is reasonable. The other private ones have become mercenaries.When I did my MBA from IIM-A I paid a fee of 13,000 per year, now some very ordinary colleges are charging around 5-6 lakhs per annum which is stupid. Who has to take the blame ? Is it the college or these Big companies?

and by the way I dont see any reason when a top B-School fresher and a top B-School guy with a 2 year experience could get a same salary.Dont you think so? A fresher from a top B-school or from a very ordinary school is  always a fresher who needs to be trained and given some experience before we actually link his salary to this productivity. If it a Sales job I agree we could measure somebody, but if it a back end profile you cant measure until he gets some experience in that particular domain.

What are your thoughts on this?

About the Author

T.Muralidharan

T. Muralidharan

(Promoter, Founder & Chairman), TMI Group

He is a first generation entrepreneur. An IIT IIM Alumni, he visualises on a grand scale and articulates his vision most persuasively. Be it the ‘The Manage Mentor’- A Continuous Professional Educational (e-CPE) tool for practicing managers) or Be it the ‘Jointly Owned Job Oriented Education’ (JOJOE) – Model of recruitment, which promotes earning while learning his team typically achieves outcomes beyond other competing organizations.He has been one of the more active members of the IIMA Alumni Association, Hyderabad Chapter and currently serves as the Joint Secretary of the Association and the President of The Learning Forum.

TMI Network is India’s leading Recruitment Advertising agency and a top 5 recruiting firm.

Posted in Talent & Skill Development.

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