Prof. Madhukar Shukla has a brilliant post on salaries given by organizations during the B-School placement season. He trains his guns on students who are only fixated on salaries, on the non-transparent B-Schools and even the business magazines who rank B-Schools. An excerpt:
But ultimately, the choice is determined by the salary package, since, under the peer-pressure during the "Placement Season", the salary also becomes a - one may say, the only - measure of one's self-worth.
The myth of CTC-masquarading-as-high-salary, however, does not end here. It gets further perpetuated by the B-Schools themselves, when they quote salaries for the subsequent B-Schools Ranking Surveys done by different magazines and newspapers.
Lastly, we have the magazines and newspapers, who play a crucial role in sustaining, and feeding, the illusions.
Why do these publications neglect other data - e.g., lowest salary - in their survey?
One simple reason is that they are entirely dependent on the B-Schools themselves for any information - and no B-school will share this kind of information (or, at least, will share it accurately). Secondly, to do an accurate survey of hundreds of B-schools requires resources - reporters who can travel to the business schools, talk to recruiter, alumni etc. - which will make the cost of the "story" prohibitive. In fact, often the survey is outsourced to some other agency.
...and who loses in the process?
...the naive prosective B-school aspirant - the kind, who wrote me that mail yesterday...
...till s/he joins the system, and becomes a party to creating/ perpetuating the Maya of B-School Salary....