Where salaries are made of dreams
A graduate of the Hyderabad-based Indian School of Business walks away with a record Rs 1.18 crore ($269,000) annual package by an international company, reports N Madhavan.business Updated: Apr 11, 2007 04:32 IST
The Hyderabad-based Indian School of Business (ISB) said on Tuesday that one of the students graduating from its one-year management programme this year had been offered a record annual salary of $269,000 (Rs 1.18 crore) by an international company during the placement process.
In comparison, the highest international salary offered to a graduate from the premier Indian Institute of Management, Ahmedabad (IIM-A) was $250,000 per annum.
“The class of 2007 at the ISB has achieved excellent placement results. The average domestic salary was Rs 15.03 lakh with the highest domestic offer being Rs 43.91 lakh. The average international salary was $135,000 (Rs 59.5 lakh), while the highest international salary was $269,000,” the ISB said in a statement.
Overall, international offers made to ISB graduates were comparable with those IIM-A students got. But offers from Indian companies did not quite match those made to their IIM-A counterparts. The average salary of an IIM-A graduate was Rs 24.65 lakh per annum.
The level of previous work experience of those who graduate is not uniform, which also determines the uneven salaries they are offered. “Very few students at ISB come with no work experience at all, maybe 1 per cent,” ISB spokeswoman Bhuvana Ramalingam told the Hindustan Times.
ISB’s class of 2007 had 416 students graduating the ‘post graduate programme in management’. Of these, 414 students participated in the placement process.