ISB grads rake in record salaries!

Today's Economic Times -

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.”

Sensationalism created by such news is exactly the reason which creates the craze for most students in India to to go for a top b-school. As I'd already discussed in a post ( 'A Balanced Perspective') before, there is so much more to b-school education than just a salary (Of course, the representation of salaries should be correct. How on earth does one simply convert USD to INR? Isn't there any concept of PPP - Purchasing Power Parity? Again, these are CTC figures & what one would get in hand is a whole different ball game altogether! )The takeaways from any top b-school affect diverse areas of one's life by adding a lot of value to each of them. However, all the dull (yet most imp) stuff is lost somewhere in the midst of the glamour of money. And if you do have to mention salaries, don't just mention the highest or the average which is very misleading. Please indicate the median salary, the lowest salary, the % of students in each salary range for & other relevant information.

For better quality MBA grads in India, it is the collective responsibility of b-schools, aspirants & the media to hone a mature perspective on why one wants to do an MBA, why at this point of time in life & what one expects to get out of the course. Unfortunately, glassy eyed youngsters, hardly out of college work furiously to get into the best b-schools. While their determination, ability & effort are commendable, the key ingredient which is clarity of thought is clearly absent which would help form the foundation for a far more satisfied & successful professional life.