Most of the ‘average’ students today do an MBA and get a degree. Now this could be from a great college, a good college, a bad college or a downright stupid college.
Let me tell you the salaries that were being offered for these graduates. It is really appalling. For example I remember that there was a company that was paying Rs. 3.5 L for the people who passed out in the 2006 batch. IN the year 2006 this was not a bad salary. Let us see how much should this be just adjusted just for inflation over the past 5 years. Well it will look nice…assuming 10% inflation per annum:
2006 350,000 2009 – Rs. 465,000
2007 385,000 2010 Rs. 512,000
2008 423,500 2011 Rs. 564,000
Any guesses on what is happening at the ground level ?
FOR the same company and same institute, the company is offering – believe it or not Rs. 250,000. Those who joined in 2009 are continuing to be paid Rs. 350,000 and some of them are unable to get Rs. 250,000 outside. Of course there is a group which will be getting paid better..but this is not far away from the truth for too many of the students. It is the job of the industry to separate the men from the boys – so you see guys who have passed in 2006 who earn Rs. 1 Million a year. But the average, the median, mode are not good. The standard deviation makes a mockery of the word average.
I recently received the CV of a kid who had spent Rs. 10 lakhs on an MBA degree (super publicity seeking overrated, over advertising college – just guess!). I could not do anything – but did speak to him. The best job offer he has is from a co-operative bank which is offering him a grand salary of Rs. 1 lakhs PER ANNUM (repeating Rs. 1L per month, or Rs. 8k per annum)…well I had no comments to offer. Sad, but true.
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