While American MBA grads are struggling to wrap their brains around their new, lower-paying reality, grads of Indian MBA programs are raking in the dough–U.S. economic recession be damned.
Starting salaries for MBAs from Indian B-schools are up 20% to 22%, while starting salaries for their U.S. counterparts are down 10%-15% from their pre-recession highs.
At the Indian Institute of Management in Ahmedabad, the average domestic salary is up 30% this year, with the higher offers ranging from the equivalent of $125,000 to $175,000. In a few instances, offers as high as $280,000 to $360,000 were made to a select few. These offers included pay packages, signing bonuses, international relocation assistance, and vacation packages.
Indian MBAs are being recruited by the likes of Goldman Sachs, McKinsey Consulting, Merrill Lynch and the Boston Consulting Group, as well as by domestic companies looking to staff up overseas operations. Nearly 40% of graduates are choosing jobs in financial services or the banking sector over marketing, operating, or general management positions.
One last note, these gargantuan offers are not being offered exclusively to newbies; Indian workers with several years of work experience and an MBA are also getting in on the bonanza.
So, how can you?
- Get your MBA in India. Don’t worry. The instruction is in English and your GMAT score will translate.
- Get a post-graduate certificate in management from an Indian B-school.
- Get an MBA in international business from a U.S. B-school that has a study abroad rotation.
- Pack up and get a job in India.
RESOURCES
PGPX: One Year Post-Graduate Programme in Management for Executives at the Indian Institute of Management, Ahmedabad
IBS India (B-School)
Temple University Fox School of Business, International MBA-Semester in India
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