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Sambhar Mafia - Cooked To Kill!

Wednesday, April 05, 2006

Predictable cover pages and skyrocketing salaries

I’m unable to remember how the cover page of an Indian Business Daily looks like. All through the months of Feb and March, the Sensex and the MBA salaries have grabbed the headline for having breached one record after another. Once these two issues die down, I’m sure the business media is going to have a serious drought in the items that can be featured in the cover page. Here is the headline for tomorrow:

Close on the heels of Indian Institute of Management graduates getting record salary deals, the Hyderabad-based Indian School of Business on Wednesday reported the highest international annual package of $233,800 (Rs 1.04 crore) for one of its students.

The ISB set a record with placements touching new highs for the Class of 2006. Four of its graduates have bagged offers that have broken the $200,000 mark.

"Surprisingly, the highest international salary has been offered by an Indian technology company," ISB Deputy Dean Ajit Rangnekar said. He, however, declined to divulge the name of both the company and the student who has bagged the deal.

The average international salary for ISB students stood at Rs 53.5 lakh (Rs 5.35 million), up 21 per cent over 2005, while the average Indian salary was Rs 11.77 lakh (Rs 1.177 million), 18 per cent more than last year.

"The highest Indian salary of Rs 30.33 lakh (Rs 3.033 million), came from the Indian company HiTech," Rangnekar said.

IBN Live has already announced that this would be the topic of discussion in Face The Nation at 10 pm tonight. ISB has been careful enough not to reveal the identity of the student or the recruiter. For a change, an Indian tech company seems to have bagged the title of the highest paying recruiter for an international posting. There are a handful of Indian companies who can throw this kind of money. I’m sure the prying media will come out with more details pretty soon.

BTW, have any of you heard about this company called HiTech?

posted by Kaps at 9:50 PM

11 Comments:

  • Hi Kaps,

    Good blog there, interesting one ! Here are my two simple views/comments on this article:

    1) Do Officials from Income TAX read these articles ?
    2) You asked a question if we knew a company by the name HiTech? I suggest you to have a look at http://www.hitechinfosoft.com/ , may be the article was talking about this ? HITECH INFOSOFT!

    Hitech Infosoft is a branch of Hitech Group, one of the major Business Process Outsourcing (BPO) firm in Gujarat, India. Since its initial set up in 1992, the company has expanded into a large BPO providing a wide range of services like finance, document management, software development, media, web designing, and animation.

    Not completely sure if its them, may be you should verfiy ? Just my suggestion!

    - Dreamchaser

    By Anonymous Anonymous, at 10:03 PM  

  • a quick search tells there are about 67 companies which starts with 'hitech' [ registered with RoC]. most of them are small and medium sized engineering companies.. so i presume, the reporter wanted to write 'a hitech indian company' and wrote, 'Indian company Hitech' instead.

    By Anonymous Anonymous, at 10:37 PM  

  • Heard till now.
    The guy has 10 yrs work ex,has been offered a global leadership position in London.Letz wait for the media updates..ISB hires folks with significant work ex. So, they were expected to win in the numbers game.The comparision needs to be done with the IIM-PGPX program that'll have very interesting stats for us next year.

    By Blogger Indian Blogger, at 12:24 AM  

  • What's apparent is that the once-upon-a-time new-kid-on-the-block is competing well with the established schools. In addition, it shows there is space for a good MBA school from India - even if it is not subsidized by the government.

    So far as the numbers are concerned, all good B-schools in India are guilty of publishing headline making placement results. There is much more to a B-school education than just salary figures. Before prospective students can realize it, B-schools should.

    By Blogger Chaitanya Sagar, at 12:41 AM  

  • I agree with Prakash, may be thats what the media wanted to say (HITECH INDIAN COMPANY) but mis-prnounced as Indian Company Hitech !

    And abt u Kaps? found the answer ?

    By Anonymous Anonymous, at 1:04 AM  

  • yeah indian blogger is right.guys there have experience ranging from 6months to 22 years.so really not a comparison with IIM's that takes a lot of freshers

    By Blogger paurna, at 1:36 AM  

  • Have i heard of the company ? - I have, now ;)

    By Blogger Arvind Srinivasan, at 2:50 AM  

  • In this controversial Management Education world involving institutes like IIPMs, I believe this sort of marketing is required for them to get more students in the coming years. That's what ISB is doing...

    By Blogger Ram C, at 10:48 AM  

  • Ram.. well, its a mixture of both. They need the best brains to come there.. so that when they get out next year, they can only better this mark. Its a vicious cycle.
    However, what the statistics don't talk about.. is how the general junta at ISB fare!

    By Blogger Rhapsoder, at 4:04 PM  

  • The only thing I know is the guy with 1 Crore salary sure has learnt a ton from his 10 years of work experience. It's just that ISB has been able to polish this diamond and sell at a good price :)

    By Anonymous Anonymous, at 11:33 AM  

  • yes
    visit : http://hitechinfosoft.com

    By Blogger Devang Barot, at 7:20 PM  

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