THE INDIAN B-SCHOOL SALARY RACE

Getting an admission into a top b-school (I will restrict my decision to Indian b-school scenario) is associated with immense satisfaction and self confidence. Aspirants have always visualized b-schools as a ticket to the amazing world of 7-digit salaries. But, as I take a closer look into the life of my friends who have completed or pursuing their MBA, I find the not-so-rosy picture of life. I am not talking about an amazingly smart finance whiz-kid who lands up with a jackpot in a top investment banking job. But my analysis is more into the average students of the top schools. Well, the word “average” is perhaps not correct, as each of these students was amongst the best in all his/her endeavors till date. Yet, most of these people are not satisfied enough to remain happy and content in life. Personally, I feel that the society is responsible for this –

(1) From the day a student lands up in his school, he is exposed to the monetary mindset of the b-school culture. The moment the student lands up in the b-school, he/she tries to follow the footstep of the senior who landed up with the so-called “86 Lakh” job in London.He decides to choose his courses and direction without realizing what his real aspirations are. In this process he loses his originality and develops a vague sense of narrow minded competitive spirit. The concept of peer-learning turns into cut throat competition towards the big job at the cost of much-important soft skills. The modern day Indian b-school student feels that I-banking or a consultant big-shot is the end of the world and the rest of the jobs are only the leftovers meant for the not-so-smart people. And in this assumption, they make a big mistake. They carry this tendency to their job and cannot find the contentment in spite of frequent job changes.

(2) Secondly, the Indian press has the bad habit of exaggerating the B-School salaries in the mind of the public. The CTCs are portrayed as salaries and the dollars are converted to rupees. The real definition of CTC never reaches the public and in this process the complete picture looks completely skewed. Friends, peoples and relatives pressurize a student to target the highest pay without having any idea of what the real nature of the job is?
But what really aggravates the sorry state of affairs is when these schools compete against each other to grasp the highest paid CTC. As if it is a salary race and winning the highest salary is like winning the gold medal.
When will the Indian B-schools grow up? When will they help the students to realize their real aspirations and achieve their true potential instead of competing with each other for the highest CTC? When will they help the students to realize that I-Banking and consultancy is just a part of the real life industry scenario?
As a great supporter of the Indian b-schools I really hope that our schools find global reputation. But in this journey, they need to work in close co-operation with each other instead of running the salary race. They should also encourage students to follow their interests instead of joining the bandwagon. As far as money is considered, it is there in every field and in every industry. Just depends on the individual how much he can grasp depending on his passion and aspirations.