indian ruppees. how much is 25 lac?
Can we do all this in pounds? First, how much does it weigh...
You shouldn't say that it's not a bad salary. You should say that it's a very good salary in India.
It's a fantastically high salary in India, even after tax. Give us the link to the job advert.
Stephen Jones puts it better. They are fantastically high salaries. Those salaries are for people who pass out. It's their first salary and they should be somewhere around 24 years old. The link posted by the anonymous poster is from the IIM. IIMs are for management, like IITs are for technology.
Recently, they getting high salaries became a controversy. It came as a news article in leading newspapers with the names of students. The students were kind of uncomfortable about the news it seems with lots of people calling them and congratulating them. Then they withdrew the names and published the salaries alone. Obviously, the news focusses the highest salaries and don't give the median salaries.
India, having a population close to a billion, has a tiny percentage who qualify well. And in that 2 or 3%, the news we hear about is probably in the top 1%.
Why would the paper publish their names?
Are salaries considered private between the individual and their employer?
And yes, from what I've heard, those are fantastic salaries for India.
March 10th, 2007 9:42pm
What are the banker types making in the US? I *guess* the ratio of banker to average is similar. I read first year lawyers in nyc make a total compensation of 200k. I suppose the bankers need to do as well or they'd become lawyers. The mind boggles at what the second and so on must look like.
google: "Pay for associates in later years can differ from firm to firm, with bonus systems varying even more. But the most prevalent base pay scale in New York puts fourth-year pay at $190,000. Seventh-years earn $240,000."
The paper shouldn't have published their names. The paper, one called the Times of India, tries to make everything interesting. It has the feel of a glamour magazine to normal news. I am not sure if other papers did this. It even carried the photo of the student. Maybe the student also initially said ok.
I was surprised to read that even PIMCO hired someone who finished undergraduation in IIT, which is a technology institute. Lot of students from IIT get into IIMs. Maybe PIMCO thought why spend a two more years in college and then get them. They pay a lot and it's two years earlier. Again, it's only for the few in the top but it's happening. With the high salaries, they may actually be better off hiring someone from America I guess.