Tom-tom-ing the tonne of a salary:

For the last few weeks, newspapers have been flashing news about the high-end salaries that the placement process in BIG business schools have been attracting. The sensation such news has generated has certainly not disappointed the 'placement deans' of the colleges.

It's free publicity, at the least, for the schools trying to one-up each other just as it is a tribute to the ROI factor for the schools to rave about. While such news might only consolidate the position of the premier schools in the country namely
the IIMs, the set of schools in the immediately next level of ranking have much to talk about. It is always musical chairs for the 'other best colleges' recognition and the schools do not think twice about putting up names of students who have got the best salaries.

Sensation is also created by media when they publish stories on salaries for overseas placements at Indian B-shools. While the dollar salary itself may be a staggering amount, the exhange-rate based conversion, that ignores purchasing power parity, gives a very unrealistic impression about the 'value' of an MBA job. While a salary of USD 150K may sound very realistic,and is among the best in the world, the converted amount of 70 Lakhs or so hardly meets the truth when applied to a fresh MBA graduate. It may also give an incorrect idea about the salaries at other Indian 'MBA jobs'.

The couple of beneficiary-genetlemen who have voiced their concerned on these lines have touched the right chord with other job winners this year. In the Indian context where the salary of an eligible 'boy' or 'girl' is closely viewed for marriages,
publishing such news also causes discomfort to the families involved. This, notwithstanding pesky relatives who are suddenly gleeful at the remarkable success of their 'dear one'.

Rising crime against IT community ought to raise a flag for proliferation of 'targetted crime'. Every now and then local newspapers carry stories about IT people stalked into ATMs, waylaid and drugged and robbed at knifepoint etc, across the new metros. IT people are regulary warned by their employers to practise personal safety and some are even introducing them to the concept of self-defense. They are also regularly warned by the companies not to advertise themselves by way of displaying their IDs and company batches etc. Targetted crime is not restricted to IT people, though it makes news as more young people are the victims. Industrialists have been at the receiving end for as long as one can remember. Organized criminals are always on the watch for identifying new victims and news such as the 'highest salary' tagged along with a name and photo only compromises the safety of the benefeciary or the likes of her.

The dean of IIMB has been quick to respond to the pleas of the students by announcing that they would not have press sessions post-placement from the next year. This should lay to rest any discomfort students may have felt discussing their salary which is considered a very private notion. Personally, I have not discussed the details of my salary with anyone, except my wife and parents/immediate family.

Without compromising on the sensitivities of the students, schools can actually publish statistics on salaries from the placements process. Mean, median and standard deviation numbers for the salaries could be published even on the school
websites, which many foreign schools do. Such data could be separately published for Indian job offers and overseas job offers just so that the readers get the right perspective. This should also keep the media happy as they are always comparing
B-schools for general benefit of the students without sensationalisation of a very private notion- one's salary.