Degree from IIM = 6 Figure Salary?
I didn’t really understand what an IIM education can bring you until this past week. This is the second article in the last three days that I have read on this year’s IIM Ahmedabad graduates getting very high paying jobs abroad.
Ravi Singhvi just accepted an offer with HSBC in London for a salary of $152,000. 
Quite amazing that an MBA degree from IIM can potentially put you in the 6 figures list. Topping IIM is not easy, I understand that, so this person must be definitely deserving what he got, but moving from making maybe Rs. 6 lakh after your bachelors degree and then going straight to Rs. 76 lakh (the equivalence of $152,000) in just mere two years of MBA study is astonishing for me. Its a huge jump, and you have made your life. You could work for one year with that salary, come back to India to only great opportunities, and live like a king.
That is just half of my point. Second part of my point is that this article points out how many IIM graduates are not even taking the high paying jobs. Alternatively, many have decided to stay in India, take a much lower paying job (Rs. 12 lakh in one case), and assumedly be near their family plus benefit the Indian economy. Now bear to understand that one can live very luxuriously with a Rs. 12 lakh salary in India. The surprising part of the article is that even in today’s world we have people that care more about being near their family and/or not wanting to leave their country over big money. Before someone says that this might be a small portion of the population of graduates choosing to stay in India, my argument stands that if wasn’t a big issue, it wouldn’t have been published.
Good going new IIM graduates! It was really nice to read the article. Incidentally, Neeraj had shown me this link from Rediff, an article on his good friend Gourav, who is graduating from IIM Ahmedabad, being offered a great salary (like Ravi) from an investment company in New York. Amazing — small world. 
Alvida. Jai Mata Di.
March 23rd, 2005 at 12:26 am
Yup.. a six digit dollar salary is awesome… and that too when you just out of b-school.. wonder, what will it be after 5-6 years of experience..
BTW, IIT-B is not too far behind… last year the highest dollar salary at SJMSOM, IITB was $110,000… yaay!! :D
March 23rd, 2005 at 12:29 am
Also, you have to look at other aspect… maybe that person had a good prior work-ex… and that may be the reason why he could command that kind of salary…
PS: Why can’t I edit my comment!! Wordpress mein yeh bhi suvidha honi chahiye…right?
March 23rd, 2005 at 12:32 am
Another thing… :LOL:
IIMs don’t give degrees!!! Hehe… they offer Post Graduate Diplomas in Management :P
So, degree from IIM is not equal to 6 figure dollar salary..
March 23rd, 2005 at 12:34 am
Log kehte hain.. ki teen tigada kaam bigada…
that’s why making a fourth comment on this post :P
March 23rd, 2005 at 12:36 am
Ya, i read that article too… goodness gracious…. such a huge sum immediately after graduation!!!
But, u r right… this generation of ppl do have great family values.. i know of some ppl who have returned back from US after some 5-6 yrs of working, jus for the sake of their family… a couple of them r there in my project itself..
Good to see that haina..
And, I’d like to add one more point.. I guess this sudden change is becos of India’s growth in many fields esply IT sector… and the standard of life here has also increased…. ppl now believe that they can lead a good healthy n luxurious life in India too…
March 23rd, 2005 at 3:30 am
o well Manpreet posted again n again so that his post count inc
yeah good to c indians staying back… but they are treated royally here so not a problem…
i happen to kn ceo (indian fellow) of EXATT which is an isp in bombay… who is a citizen of USA and had a fantastic job there but decided to come to india and start this company with the help of investors fr usa…
o well i had read somewhere on this website called http://www.neerajpoonam.com ab this couple who plan to stay in USA for a couple of years then come back to india to start their own firm… thats neat :P
March 23rd, 2005 at 3:53 am
LOL@Kunal… don’t you know that Poonam will give me a treat if i posts 500 comments.. !!!
March 23rd, 2005 at 5:48 am
yeah…IIM is doing great in the global job market. I am not sure if you watched it, but last year (or maybe year before that), they had a show here on IIM school. Everyone in US is aware of that school and once you get a degree (diploma actually) from there…you are sure to earn big bucks, no matter what part of the world you land up in.
March 23rd, 2005 at 6:10 am
With your next comment, I think you have do quite well to get such salaries. I know that even good MBA programs in USA offer some great salaries in 6 figures — but maybe given to the top 10% of the class.
Ok let me clear something up — for me degree and diploma are synonyms. They are the same. With MBA you get a degree — if you say diploma in India — its the same thing.
Aacha kiya ke kaam nahi bigaada.
Definitely right Prasad. The standard of life in India has changed very much due to the wealth of the IT industry. It was well noticed by me when I was in India recently in December because of the many cars, nice homes, clothes, amongst many other things.
IIM is a really hard school, so its known that these students must have done quite well to get such a good payoff.
You hit it right on the money Kunal on regards to Manpreet posting four comments.
But this time I will take a treat from him because of his good news. 
Wow..so there are many people that make the move back. I was really impressed that money wasn’t an issue for these new graduates. Its really nice to see people who want to make a difference to India and its economy, rather than make major money for themselves.
Yep — you bet. We are definitely going to move back to India. Going to do our MBA, make some money just like these guys, and then come back. Just recently Neeraj and I were brainstorming (yes I know its early but it was fun
) about ideas of what kind of IT firm we want to open. 
Is baar Manpreet tere se treat leh ke rahongi!
I had seen a special on TV regarding IIT schools but i don’t remember the IIM special Mannat. Diploma and degree - same for me.
Yep, its a great school — its hard in everyway, but major payoff @ the end. 
March 23rd, 2005 at 7:49 am
Doggie treat kya?
:mrgreen: 
March 23rd, 2005 at 7:58 am
Nehle pe dehla..nehle pe dehlaaaaaaaaa
March 23rd, 2005 at 9:36 am
Hi,there.I’m with u,Poonam,in appreciating those who’re happy to stay back in India and that too at a lower salary than they would get abroad.There’s no place like home(meaning,India),finally,is there?As for me,I’m just itching to return…perhaps,in the next one year.
March 23rd, 2005 at 11:46 am
I wanna do MBA as well. But may be not in IIM, some where else rather. But does this really mean, a person having an MBA from a top school is more efficient than a person, having technical back ground. Mind you, almost most of the fortunre 500 companies have a technical back ground person leading them with no MBA. :D
Check this site http://www.paulgraham.com/start.html
But then, why do the top companies go for a young guy from a MBA school. Paying high amounts!!. Is that person really justified for the job?. How do they judge?.
Anyways, IIM rocks. And interview process happens for the selection of candidates is rigorous. And the education is good as well. :)
March 23rd, 2005 at 1:00 pm
:no::yes::no::yes:
March 23rd, 2005 at 8:05 pm
Great points Govind. I totally agree with you that those that go to IIM or a very good MBA college doesn’t mean that they are smarter or more capable than anothe person that might have topped at a college that is not as reputable. But usually the person that goes to IIM gets all of the benefits, the good job, and the good pay and the other person gets left behind in the dust. Its quite wrong, but such is life.
You know its interesting that my company, Accenture, doesn’t even encourage their employees to get MBA degrees. Why? Because they say that can teach everything that one wants to learn by working at their company. So what does that say? Goes well with your point that you mentioned about many Fortune 500 companies having technical background senior managers.
I was shocked by the amount of money they were giving to these graduates. I don’t know if I can say that they are justified for the job but what I did notice is that most of the top salary companies are investment banks which are known to give high salaries to their employees. Great comment!
Confused Ankur?? :???:
March 24th, 2005 at 3:51 am
just a small tiny miny point… the guys settling for a job in india are paid handsomely also… i mean if u dont compare, salaries are good enuf to live like a king here… 12lacs is good enuf to start with… and ofcourse that also changes with each year or change of jobs…
March 24th, 2005 at 3:56 am
I was not confused, your article is well written
I was just doing some neck exercises :yes::no:
March 24th, 2005 at 4:01 am
Wah Manpreet!
I learnt something from you…. so thought I should made a second post too
After all I am also in the competition
March 24th, 2005 at 5:21 am
LOL @ Ankur… good work.. but there’s lot to improve.. i posted 4 comments in a row.. and u posted only 2… you are still a novice in this spam game…!! buck up balak!!
March 24th, 2005 at 6:29 am
Now bear to understand that one can live very luxuriously with a Rs. 12 lakh salary in India.
March 24th, 2005 at 7:50 am
BTW, Poonam u awake at 6.30 am!! Wondering how people get up so early? Any tips?
March 24th, 2005 at 11:39 am
8 out of 21 comments here are by Manpreet, is he really interested in tips, or just trying to reach 500 mark
March 27th, 2005 at 7:22 pm
Alarm will do the trick to get you up and ready to go early.
I think he is just interested in getting to the 500 mark Ankur.
April 13th, 2005 at 8:58 am
Just browsed through your article.
I went curious and wanted to add my 2 cents.
I stay in Germany. a $152,000[ or 118k euros] is indeed quiet a handsome ammount for the service oriented, by west european standards.
But life is , I would say , crap for the 1st gen. desi. Staying 12 yrs. on the trot here , I think if given the option of 12-lakh in India , I would go for it gleefully eventhough I get 5 times over here…but that’s just numbers …cost of living here is 5 times too…freinds, family , roots and food is finally what matters.
as I had said
my 2 cents
April 13th, 2005 at 10:33 pm
Thanks for coming to our site — hope to see you here again soon!