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Note from friend:

January 26, 06 by Bharani

Note from friend: (A Message from my friend who received MBA from a reputed UK B-school)

MBAs should know what 1$ can buy in New York or London or Madras. One of the funniest news coming out of Management Institutes in India is ‘IIM grads gets Rs 55 Lac salary’ This news definitely appeals to the man on the streets , it appeals to the parents of soon to be IIM grads and attracts more students to take CAT. But what is this Rs 55 lac??

Companies like Lehman Brother / Deutsche Bank / BP recruit IIM grads , who are 22-25yr old and pay them a salary of around 50-70000 British Pound. When you convert this figure to Indian Rupees, it does appear to be a huge figure but these salaries are not great salaries in cities like London. One should remember that SAP programmers with just B.Com degree and 5 yrs experience earn that much.

Recently IIMs have been boasting salary of 150,000+ USD which appears to be GBP figures converted to USD. The USD figure is a great salary for any city in the US but when you get the equivalent GBP in London, you don’t get the same lifestyle. One should look at salary figures in the local currency…

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