Full Video    • Reality of 40 lakh Salary at IIM MBA/...  

Have you seen the 1 Crore package for IIT in newspapers' headlines? Or do you want to know the reality of the inhand salary of 40 lakh CTC offered in IIM/ISB?

I have shared a stepbystep breakup of CTC offered in India and what is % in the hand of offered CTCs!


To get into management consulting, check out the Global Governance Initiative Impact Fellowship here https://www.globalgovernanceinitiativ...


#bcg #realityofsalaries #mba #consulting #mbadegree #masterofbusinessadministration #mbafees #mbadegreesonline #onlinemba #bestbusinessschools #mbacolleges #mbafinance #mba2022 #mbacollegesinindia #mbaprogram
#mbacourseslist #topmbacolleges #mbageneralmanagement #mckinseyandcompanycareers #mbamanagement #howtogetintomanagementconsulting #mbastudy #mbacourses #interviewtips #bestmbaprograms #bcgcareers #onlinembaprograms #productmanagementroles #shatakshisharma #shatakshisharmaggi #ctc #salary #iimsalaries #iimjobs #package #lakhs #inhandsalary #iimsalary #salaryafteriim #iimplacements #placement #onecrorepackage #reality #truth #theiimguy #iim #abhishekjain #bonus #fixedsalary #variablesalary #iitplacements #iit #nluplacements #nlu #nit #nitplacements #placementleaked #offerletter #salarybreakup #inhand #monthlysalary #ctcreality #ctcbreakup #salary #mbasalary


Like, Share, Subscribe for more!

Social media

Click here to subscribe to my YouTube channel:    / @shatakshi.sharma  

LinkedIn:   / shatakshisharma410  

Twitter:   / shasharma_ggi  

Instagram:   / shatakshi.sharma410  


About Shatakshi

Shatakshi is CoCEO of Global Governance Initiative (MBA program recently featured by Poets & Quants), an Ex Boston Consulting Group, BCG, management consultant, a writer, and former public policy advisor in Tony Blair Institute for the Middle East region.

She has been also felicitated with The Most Promising Women Leader 2021 award by ET and Linkedin Top Voice 2021. Her interviews have been published in leading policy and career organizations Modern Diplomacy, BCG, Poets & Quants, Your Story.

She will be uploading daily content on career advancement (MBA, consulting) personal finance, and productivity hacks. Be sure to subscribe to the channel to get notified whenever she uploads the video.

***
   • The reality of a 32 lakh salary packa...  
   • Reality of 1Crore Packages of IIT's, ...  


Have you ever heard that students from top institutions in this country are getting packages worth 1 crore? Or have you ever wondered why you are just earning 68 lakhs, but IIM/ISB/IIT students are earning 4550 lakhs?

As a former BCG consultant and an advisor for the Tony Blair Institute, I can share the reality behind these packages. Taking into account my experiences, we will uncover the truth about the inflated CTC packages, their break up and the actual inhand salary.

Culture of Inflated CTC


Let us begin by laying the foundation that these are not false CTC reports by organisations and MBA schools.

The companies do incur some costs beyond the inhand salary that you get. This could be in the form of insurance, travel or other assets they provide to you. Thus, it is beneficial for the employer to inflate the CTC to attract higher quality talent towards them.

Similarly, it is beneficial for the Bschools to stay in tune with these high CTC packages to attract a better pool of students. For the same reason, individuals prefer to not share their actual inhand salaries.

Components of CTC

2.1 Joining and Annual Bonus

At BCG, we were given an annual bonus based on our and the firm's performance. Similarly, you will get a joining bonus as well.

Back in 2019, after completing my MBA from ISB, I was given a CTC of 33 Lakhs. Out of this, 2 Lakhs was just by joining bonus.

2.2 ESOPs and Allowances

ESOPs are particularly prevalent in startups. Though, it will diminish the inhand salary that you will get from the firm. ESOPs get encashed when you stay with the company for a long period of time.

It is basically a retention strategy followed by the employer so that you stay with the firm for a longer period of time.

2.3 Taxation

If you are employed at leading firms such as Amazon, BCG or McKinsey, you will fall into the 30% bracket in India. This too will diminish your inhand salary.

However, due to the lack of taxes in Dubai, I saved a lot of my inhand salary.

Inhand Salary of CTC

I shall begin by quoting some statistics here. If you join any organisation, 2040% of your CTC will get eaten up by the 3 components we discussed above.

Now for the anecdote, when I joined BCG in 2019, I was given 1.5 Lakhs per month or 18 Lakhs per annum. This, of course, does not include my joining and annual bonus.