I, The Absolute

Archive for January 31st, 2006

PPTs, Salaries, et al

Posted by itheabsolute on January 31, 2006

The Pre-placement Talks (PPTs) end tomorrow, with banks, Investment Banks and Private Equity firms filling the slots. The interview season is just two weeks away. Almost 50 %, but crucial aspect, of our preparation for the interview will happen during these days. For many people, this season will be life changing. Imagine someone coming into ISB with INR 3-4 lac and going back with USD 100k salary & more or INR 15 lac salary. For some, it could be even more. But the upside may not be same for a person who has come with INR 10 lac+ salary. What is important is not the salary figure per se. No employer would pay more than what the job is worth. When someone gets higher salary, it means he has got a good job. Of course, one has to discount for purchasing power parity and tax differences between countries. Also, some very good companies pay less of fixed salaries and more of variable by way of bonus or ESOPs. One has to factor in these things before making a decision.

To continue with the topic of salary, being on campus, at least it appears, puts people on weak wicket. But it all depends on how one positions oneself. There is no reason for anyone to trade himself for less than what he would have got if he were in the proper market place instead of being on campus. If a firm does not want to hire someone just because he asks what he deserves, then it is moot point to think if the firm is worth joining. Having said that, the onus to convince the firm to pay what is being demanded is on the individual.

I will not ask XYZ salary because I paid INR 15 lac fee to ISB. No one will pay me for that. I will ask XYZ or more salary because I am worth it.

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