iimjobs.com – an exclusive job portal for MBAs from premier business schools in India released the findings of second MBA Salary Survey. The survey was conducted to understand trends in compensation of MBAs from top business schools in India.
The survey was administered from May 16 to 31, 2010 with over 5600 MBA graduates sharing their salary data anonymously.
“We conduct this survey every year to help professionals benchmark their salary against their peers in the Industry. We made sure that we didn’t collect any individually identifiable information to maintain confidentiality during the whole process. The data was then tabulated based on area of specialization and years of experience. The areas being covered as part of this survey are – Finance, Marketing, General Management/Consulting, and Systems (IT)”, said Tarun Matta, founder of iimjobs.com
Salaries grew fastest at 12.7% for professionals working in IT sector, taking them closer to their batch mates working in Finance and Consulting. Average salary for MBAs working in IT sector was observed to be 12.9 lakhs for 3 to 4 years of experience and 17.3 lakhs for 5 to 7 years of experience.
Professionals in Sales & Marketing saw 11.8% growth in compensation this year. Average salary for MBAs working in Sales & Marketing was observed to be 9.8 lakhs for 1 to 2 years of experience, 13.6 lakhs for 3 to 4 years of experience and 18.1 lakhs for 5 to 7 years of experience.
Average salaries in Finance was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.3 lakhs for 3 to 4 years of experience and 19.6 lakhs for 5 to 7 years of experience.
Average salaries in Consulting grew around 7.6% and was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.7 lakhs for 3 to 4 years of experience and 18.4 lakhs for 5 to 7 years of experience.
“Even though, salaries in finance and consulting didn't increase as much as other sectors, the average salaries were observed to be higher than sales, marketing and IT. Finance and consulting still remain top choices for MBAs graduating from top business schools”, added Tarun Matta, founder of iimjobs.com
“We also collected attrition data this time. Attrition rate was observed to be highest at 13.6 % for Finance graduates with 3 to 4 years of experience. It was lowest at 6.9% for professionals in General Management/Consulting. Average Attrition rate was 11.2%”, said Tarun Matta, founder of iimjobs.com
