McKinsey India - 2 crore?
I was talking to my coworker and he said people out of the top MBA schools that get offers from McKinsey India will get paid 2 crore.
He said that's equivalent to 1/2 Million USD.
Is this true or is this false?
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Firstly 2 crores is equivalent to $500,000.. And I highly doubt any MBA gets paid that much right out of grad school.
Hahah, wtf!?
500,000 = Half-Million (?)
In a more serious note. Those that do get ExecDirector positions in Asia (at F 500) do get a lot more than their counter-parts in U.S. due to COLA (Cost of Living Allowance), Housing, Education, Hardship Allowance (huge range), Car Allowance, Tax-Equalization, etc.
Though that is becoming more rare in more developed places in Asia. Having been to India, I would forgo it unless I get a huge salary bump and lots, lots of benefits. There are interesting tourist places to visit, would not care to live there, at least for another 50 yrs depending on speed of development. Besides I like meat way too much.
Those joining PE or VC make more than that/close to that out of MBA
isn't 1/2 million USD the same as $500,000 ?
They definitely don't get paid 2 crore. Salaries in India are lifestyle commensurate with salaries in the USA (slightly scaled down due to cost of goods)
In response to "Is this true or is this a case of extreme Indian pride of Indian MBA schools?" - Please don't generalize like that, the person you spoke to was obviously bragging, but your tone sounds a bit racist
How is asking if this is a case of extreme MBA pride racist?
Uhh - How is it a generalization? Is it a CASE of - case of would suggest ONE example. A generalization would be ALL _____ = _______ or MOST _____ = _______ or even MANY ______ = ______.
Before you play the race card - please read carefully. In fact, why not give someone the benefit of the doubt?
Playing the race card?
I think the fact that you're being so defensive illustrates what I mean
Let me make this easy
Does not sound racist at all: Is he lying or is this actually possible?
Sounds a bit racist: Is this true or is this a case of extreme Indian pride of Indian MBA schools?
Also I didn't accuse you of being racist, just said your phrasing makes it sound a bit "off"
hahahah
half a million dollars sounds way off, it's probably more like 150k. So yes they are lying through their damn teeth. From a top Indian MBA or MBA in the U.S.? either way, salary is exaaaaaaaaaaaagerated
Anyone here who knows what wages in India are actually like would be hesitant to think that compensation for newly-minted MBAs in a base-heavy industry is going to be higher than in ultra competitive hubs like NYC, London, HK, hell, even Singapore and Dubai.
I'd be hesitant.
I'm also glad that the Indian office of my firm doesn't speak to us in crores.
This is very true as a general case; however MBB and most PE/VC firms try to keep a "one firm" feeling across the world. Therefore salaries are highly normalized and similar across all geographies, only very small "cost of living" adjustments are made (and the swing is typically never more than +/- 20%).
Admittedly, this isn't the norm and most companies would set compensation at significantly lower levels in countries where the cost of living is much less.
I'm sorry, I know that MBB doesn't for a fact. All my friends at MBB China that graduated from Peking University undergrad from guanghua school that are working for MBB started between 10k - 15k RMB / month. (~1300 - 2200 USD / month). They live in either Shanghai or Beijing. (I know HK pays more) Tell me one MBB analyst/associate that makes 30k a year. I'm sure the custodians at MBB make more than that in the US.
consultants at MBB don't get paid half a mil in the US after MBA so why on Earth would you think they got paid that high in India?!?!
No one thinks they do, everyone on this thread has said that this isn't true.
trust me I can read, I was just reiterating it to get this point across and avoid such foolish questions in the future, the saying that there is no such thing as a stupid question is false
this is exactly why one should not work at Deloitte.
Ken my boy, when are you going to dump ur gig and get that MBA and much shiatsu?
Hopefully April 15th.
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