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ISB in the News!

March 31, 06 by Bharani

There was a sizzling news item in Today’s Economic Times about ISB. Attached below is the press clip.

ISB grads rake in $200,000 packet

• Dollar Dreams Hit New High

VIVEK SINHA, NEW DELHI

THE B-school moolah route has hit a new high this year. Five students of the Indian School of Business (ISB), Hyderabad, have been offered $200,000 plus (about Rs 1 crore) pay package. This is just the floor level. While the figure is one of the highest ever, the fact that as many as five students from one batch have been offered such a package is unprecedented in the history of ISB.

You would be surprised to note that chief marketing officers in America earn base salaries of that level, and here we are just talking about MBA grads out of India. To be fair, these are lateral placements, and so these students are not 23-year old fresher who have bagged such a deal.

Though exact figures are still under wraps, it is believed that at least one of them could have even been offered more than the all-time record in India clocked by an IIM-C grad five years back — $225,000 per annum.

ISB spokesperson declined to confirm or deny the news saying: “We will be making a public announcement about the placements this year next week.”
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To my knowledge there is only partial truth to this news. May be I am ignorant! But the issue here is not about the news, it’s about the media’s intention about the news.

I wonder how “word-of-mouth” news about placements can be published just like that without proper verification. Media people are clearly after selling “hot” news without verifying if the news is authentic or not-authentic. The situation is same in all countries especially as far as B-schools are concerned. I can see this news in two ways…Either there are some people in ISB who are providing “insider” information or News reporters are trying to hype the situation and setting up the institute for failure! To be honest, I am fed up with these kind of “Highest salary 1 crore” (The figure which is apparently a result of B-schools converting the GBP/EUR figure into Dollars and then into Rupees, each at the highest possible exchange rate at any point of the year!!!)…Phew! There is much more about B-schools than just placements or salaries….

PS: Couple of weeks back, I mentioned that 25 odd people are jobless and searching for their fit. The situation has vastly improved with many of those people getting a job offer according to their requirements. One of my friend in that 25 group, now has 4 offers to choose from ! It’s just the question of time….Patience is the key!

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