ISB placements - Experience Pays for Class of 2006

ISB’s Women Grads accounted for 50% Of Rs 1 Crore-Plus salary Packages for the Class of 2006. An annual salary offer of Rs 1.04 crore, or $233,800 to be precise, to the year’s top billed graduate from the Indian School of Business (ISB), Hyderabad, has not only made headlines, but has been cause for some euphoria.

However, what is not as well-known is that this top pick by Bangalore-based ITC Infotech for a London posting is no greenhorn. He is a well-heeled professional with 10 plus years tucked under his belt, and therefore, may not have made a killing after all. But if salary offers are anything to go by, the women graduates from ISB have done remarkably well this year having bagged 50% of the Rs 1crore-plus jobs.

It is understood that two of the four offers which breached the $200,000-mark were made by real estate consulting firm Tishman Speyer and British Petroleum to women graduates, who are again not freshers. Both the positions are based in London. All this may make it seem that campus-to-crorepati has never been so commonplace. But HR experts say this small number of crorepati graduates is not something to tom-tom about. However, they add that it is heartening to note that foreign companies are coming to campuses and putting great value on Indian talent. “These salaries are typically for overseas postings. It is really not fair to translate such numbers into INR and feel happy about them,” they add. Moreover, they are in keeping with industry standards abroad for people with equivalent profiles. Also, ISB graduates fall under a wide age group of 24-42.

Typically, their salaries cannot be compared to fresher profiles as their placements are more lateral in nature, they point out. Interestingly, the `outrageous’ job offer of Rs 1.04 crore has not come from traditional players like the Big 4 consulting firms, investment banks or large IT firms, but from the $57m ITC Infotech.

Sources say, “Sometimes, small companies do end up making huge offers to find favour in the campus. Besides, the company is backed by a very strong parent group.” HR experts in the IT industry say a similar experience profile would earn a similar amount in most large IT companies.

Economic Times spoke to a cross-section of ISB students to get a feel of their aspirations, euphoria and achievements. Though many of them felt that ISB did add value to their profiles, they believe that their own individual work experience stood them in good stead.

HR sources say, there is a rough premium of Rs 1 lakh per year of work experience over and above the base salary for any position. Former merchant navy officer Swati Singh, who will join Tishman in London, told ET, “I will get to leverage my finance knowledge in this new role.” She was the first-ever woman officer to join the merchant navy in 1996. The other woman graduate Shilpa Bijoria is headed to London to be part of British Petroleum’s fast-track leadership programme that develops future CEOs. Bijoria said the fellowship programme at BP would train her for two years. “I’ll be working on different projects and it will help me understand the company,” she said. After two years, she will join the top management team. Though she is not ready to reveal her pay packet, she says, “it will be an astronomical increase compared to my previous job”. Coming close to the magic salaries is Nirja Shah, ex-TCS project manager, is headed to Texas for a role in EDS’ corporate strategy division. Ms Shah says ISB is the only B-school that EDS has hired from. EDS has picked up about 8 graduates. “Some of the job offers at ISB rival those made at global schools like Harvard, Wharton or Kellogg,” she adds.

Another interesting case is that of Anjali Patel, who incidentally was the chosen one to meet visiting US President George Bush. She is joining Deutsche Bank’s investment division and believes in “managing money”. She has opted for an Indian posting in Mumbai although she has lived and studied in the US for over seven years.These women super-achievers also share a great sense of work-life balance. In their mid-to-late 20s, they are open to the idea of marriage and seek spouses “who will understand” their career choices.

Back home, the highest Indian offer of Rs 30.34 lakh has apparently gone to former HDFC executive Vijay Mulbagal. After his 9-year stint with the bank, he is all set to join Diamond Cluster, a US-based consulting firm. “I’m joining them at a middle management position. I like the new job profile as it requires constant interaction with the bigwigs of the industries,” he said. And, he is keen on setting up his own equity firm someday.

Some students also opted for positions in countries like China, Mexico and Poland, while a bunch of them did not opt for the placement process and stayed home in Hyderabad to promote their own ventures.

Source: The Economic Times - April 07, 2006