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ISB gets top B-schools to stop hype over pay
Posted by Srini Uppala | November 25, 2007 | 544 views
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Loading ...The Indian School of Business has written to Indian Institutes of Management and prominent B-schools to not reveal pay packets offered to their students during campus interviews. “We received positive response from B-schools. All of them agreed on not making unnecessary hype on salaries, the dean, ISB, Mr Rammohan Rao, said. The ISB follows the tradition of revealing just the average salaries every year. However, come March, every institute hypes the offers their students draw from corporates.
Students have complained of stress when the media highlights their salary packages. Their families have requested institutes not to name the students fearing for their lives. In March this year, IIM-Bangalore student Gaurav Agarwal a created sensation this March when it was disclosed that Barclays of London made a record offer of Rs 86 lakh. Then it was the turn of an ISB student who lapped up an annual package of over Rs 1 crore.
The students were featured so widely that Mr Agarwal wrote to the IIM-B director saying, “Salary details, especially when they are above-normal compensation levels tend to catch the attention of unscrupulous elements in society and could cause immense physical and psychological distress for those involved. It has also caused a lot of personal problems for us.” “The B-schools are not placement agencies. Though disclosure of salaries brought a better brand value to attract MNCs, it is now being used to compare the B-schools in quantitative terms, which is not healthy,” said the dean, ISB, Mr Rammohan Rao.
Companies offering high packages are facing the problem of unnerving their employees when the salary packages of newcomers are announced. “Even companies and students are requesting not to make salary figures and their identity public,” Mr Rao siad. He said IIM-Indore and IIM-Bangalore have decided not to reveal salaries and perks from this year, IIM-Kolkata agreed not to reveal the company’ name. “IIM-Ahmedabad, IIM-Lucknow and other B-schools are likely to follow suit,” Mr Rao said. “We at ISB publicise only average salary figures for the entire batch as per international practices. What we never divulge is which company has offered how much compensation,” Mr Rao said.
SOURCES:
Deccan Chronicle
Topics: Job Matters, Education, Business News |
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