The internships of the new IIMs of India can promise sparkling wages on paper, but the reality for many best performers is far from glamorous. A recent post viral Reddit exposes the fact that graduates of the financial strain are confronted – even in the superior 10% – with high EMIs, a modest salary at home and the fight of life in the city which cuts into the splendor of “elite” jobs. It is a story that gives to think that calls into question the perceptions fueled by Linkedin of post-MBA success.
A viral article on Reddit arouses a debate after having exposed what he calls the “reality of the top 10% in the new IIMs”. The post dismantles the perceived dream of financial security linked to B. school jobs.
“Oh, you thought that getting in the top 10% of your lot in a new IIM meant that you were ready for life? Allow me to burst this dream bubble with my reality of the Uber, Uber, Maggi-For Dinner swimming pool,” wrote the author.
The message lists the real roles and packages observed on LinkedIn, contrasting their impressive cost-to-business figures (CTC) with what really strikes the bank account:
Amazon Account Manager – 32 LPA: “Except that hears it is a spicy.
Startup with 35 LPA: “20L in shares – I am sure you will become public one day! (They will not).”
BCG – 19 LPA: “More like 85K per month, and oh? A back office role!”
JP Morgan analyst – 19 LPA: “After taxes and deductions, you win 90,000 ₹. You can almost afford a 1BHK in Thane. Almost.”
Aditya Birla Capital – 20 LPA: “80,000 ₹ in your pocket. And by pocket, I mean the one with holes in it.”
The user has stressed how high level roles even barely cover the cost of living. With an EMI average education loan by 25,000 ₹ / month, disposable income decreases to 55K – 65K ₹ – Often less than info recruits earn. “You gain essentially less than a new at Infosys, but with articles much more linked to synergy and value creation,” he joked.
Living in a level 1 city only adds to pinching. Ventilation? “Rent: ₹ 30k / month (if you like wall sharing with cockroaches). Utilities, internet, grocery store, Swiggy guilt: 15,000 ₹ at 20 km / month. Social life? Sorry, this was taken up by your loans provider.”
The message ends with a mixture of irony and resignation: “Congratulations on Dream 25 LPA. I hope you enjoy the pay check at the pay check while pretending to be a “future CXO” on Instagram. But hey, at least we “gain in lakhs”, right? “
The franchise has largely resonated.
A user A Cont, “My friend is that and gets 85K in hand. Its CTC is approximately 12L. And you would have finished with your MBA up to 25-26. Winning nearly 1 Lakh is not bad. Financial discipline for some 2-3 years and your loan is erased. ”
Another shared their trajectory: “I have done it, a lot of time. I can only advise you to optimize for learning, skills and growth instead of money … I am a new graduate of the IIM du Lot 2019 … Finally, I was able to do a better job with an excellent salary. It was not easy. But it was worth it.”
Some have tried to balance the point of view: “completely the pessimistic point of view … You are in an almost top centile of the Indians to win … a little optimism will encourage your body language to better opportunities to come.”
