IIM Salary in India: On popular request and as an answer to one of the most important questions which keeps going through our mind while considering MBA as a career; we bring to you in this article all the details you need to know about IIM Salary in India. We cover Average Salary of IIM Graduate, Salary of an MBA from IIM, Highest Salary in IIM Ahmedabad and other IIMs and why are IIM graduates paid so much. Admissions to IIMs and Other Top MBA Colleges are majorly through CAT Exam. There is an overall surge in MBA Salary in India.
IIM Salary in India
|Name of the IIM||Highest CTC||Average CTC||Median CTC|
Let us now have a look at some of the top companies which only visit old IIMs and some of the other top non IIM MBA Colleges. They neither visit new IIMs nor tier 2-3 MBA Colleges. Starting salary at these top companies for MBA graduates is high as compared to other companies which leads to a significant different in average and highest salary trends.
|Name of the IIM||Consulting||FMCG||Finance|
|IIM Ahmedabad||EY- Parthenon, Accenture Strategy, AT Kearney, BCG||Mondelez International, Colgate Palmolive, Coco-Cola||Royal Bank of Scotland, DBS, Morgan Stanley, UBS, Credit Suisse|
|IIM Bangalore||Stratgey&, AbInBev, BCG, A.T.Kearney, Alvarez & Marsal||Nestle, P&G, Pepsico||Goldman Sachs, Morgan Stanley, Barclays, DBS|
|IIM Calcutta||Accenture Strategy, Bain & Co, McKinsey & Co, BCG||Mondelez, P&G, HUL, Amazon, Coco-Cola||J.P. Morgan Chase, Edelweiss, Deutsche Bank, Goldman Sachs, Merril Lynch|
|IIM Lucknow||Accenture, Alvarez & Marsal, Aditya Birla Group, BCG||Airtel, Colgate Palmolive, HUL, P&G||Avendus Capital, Citi Bank, DBS, KOIS Invest, WhiteBoard Capital|
|IIM Kozhikode||Bain & Co, McKinsey & Co, BCG||Nestle, Asian Paints, Amazon||BCG, Deutsche Bank, StateStreet|
Why are MBA graduates paid high salary?
The first set of management graduates from top schools got paid well as small pools of skilled talent do (such as actuarial talent in today’s world). This proliferated a very strong alumni network where managers went back to hire from the same schools they had graduated from. This invariably developed a cycle of high pay outs and bonuses by maintaining a certain set o ‘standards’.
So, it is tough to crack into certain consulting and I – Banking units because they hire from select places and are extremely elitist about it. This then fosters a culture of laudatory pay packages; the system is designed to ensure that managers make more money than teachers or farmers or operators.
Companies love to boast about how they are equal opportunity employers and such but essentially every company is run by an elitist bunch of thinkers who are very careful to emphasize the difference between manager and worker and keep it as such.
So, like every unbalanced social set-up, the people who actually work are paid less while their supervisors and managers go off with a hefty salary because they are by virtue of being managers getting other people to ‘work’.
Nature of work involved:
Most good MBA programs offer you essentially three career options – actual management (either in an industry such as managing a product / or a support function such as recruitment/ marketing); consulting (telling actual management how to do better actual management without having done any of it in the first place, themselves) and the holy grail of trading and Investment Banking (helping make greedy people greedier).
None of this is actually contributory directly as productive (barring actually doing activities in management rather than telling people merely) ; since it’s not tangible – it’s easy to give away any kind of money to such people due to the notional value involved.