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The Maya of B-School Salary - by Dr. Madhukar Shukla Page - 3 The myth of CTC-masquarading-as-high-salary, however, does not end here. It gets further perpetuated by the B-schools themselves, when they quote salaries for the subsequent B-schools Ranking Surveys done by different magazines and newspapers. Ostensibly, it is done to create awareness about the institute, and to maintain/build the institute's "brand", so that it can attract better recruiter (who quote higher CTC/salary), and better prospective students (who aspire for higher CTC/salary)... I am not sure if rankings also attract better faculty to join the institute... All B-schools regularly highlight the highest salary offered to students, the average salary, number of "foreign placements", average number of job offers per student, etc. (I am always intrigued about the speed with which the calculations of "average salary" are made, within hours of the finishing of the placement - and weeks before the actual job-offer letters, which give the real break-up of salary, reach the students). In recent years, other statistics have got added to this list - e.g., how quickly the placement got over. Earlier it used to be calculated in number of days, now-a-days it is quoted in "hours" - mostly indicating a change in method of calculating these figures!!! Needless to mention, no B-school shares information about the "lowest" salary, or the "average salary of the bottom 30%", or about the number of students who did not get placed (even in cases when this happens: a few years back, one of the premier B-schools, which had a large batch-size - about 300 - and was left with about 25-30 students without a job offer. It gave temporary jobs of "research associates" to all of them, so that it could declare 100% placements in record time!!!)... Lastly, we have the magazines and newspapers, who play a crucial role in sustaining, and feeding, the illusions. Why do these publications neglect other data - e.g., lowest salary - in their survey? * Contributed by - |
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