India is lowest-paid work destination for MBAs   Leave a comment


India still sits on the bottom-most rung of the payscale ladder – this is the finding of the GMAC Alumni Perspectives Survey 2012. The survey also rubbishes beliefs that an MBA degree has lost its value in the face of global recession, and says that the future is bright for the graduates. The employment rate stands at a commendable 86%, 93% of whom say that they found exactly the job they were looking for. Four out of five graduates said their salary met or exceeded their expectations.

Compensation, of course, varied according to region. Alumni in Europe, the Asia/Pacific Islands (including China) and the US, fared better than the typical fulltime alumni, earning more than the average starting salary of US $95,000. Central Asia (including India) had the lowest starting salary range, between the 25th(US $24,423) and the 75th percentile (US $50,880). Salaries also varied across industries. The finance and accounting sector offered the highest additional compensation package, making it one of the top-paid industries. Manufacturing jobs paid less, but came with better additional compensation packages.

Passion, said the survey, is the key force behind job satisfaction, 36% of the respondents attested to this. 18% thought it was compensation, while 15% said that recognition was what they were looking for. Alumni in entry-level positions are less satisfied with their jobs than those in senior positions, while students in the IT sector were least satisfied in terms of job function. Alumni said that their degrees brought them better salaries, quicker career advancement and trained them for leadership positions. Moreover, claims the study, employees are most satisfied when they feel they are making a significant contribution toward the growth of the company.

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Posted January 23, 2012 by avinash2060 in Consulting, Current Affairs

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