salaries in India after MBA

$70k including bonus is less than what IB analysts make. In fact, the $100k figure you are citing is probably less than what most IB analysts have made over the last couple of years in NY or London. First year associates (the level that MBAs are typically hired in to) at bulge bracket banks averaged about $275k last year including bonus. As I understand it, in the past MBAs in India have been hired on as analysts rather than associates. I don't know if this continues to be true, but the figures you cite seem to support this.

I've attached a comp chart published in the NY Post last year. The Class of '05 would have been 1st years at the time of this survey last year. This year's figures should be out in the next few weeks.

Pelihu,
very interesting article. Thank you again for this piece of information. This year, the numbers should be down because of the credit crunch (atleast for pple working in Citi, Merill and Bear)

Guess there are significant pay differences between working in NYC and India.

That chart shows why so many people want banking. Its almost enough to sway people not really even considering it.

Ya, no kidding. I don't want it because of the lifestyle, but I do love finance and I wouldn't mind 300k. However, my wife wouldn't be too happy if I worked 100 hours a week. I wouldn't be too happy either I guess. There's more to life than huge amounts of money (which I will have to keep reminding myself).

I look at it as 150K doing something with reasonable hours that I am very interested in or 50% of 300K after I get divorced because I am working 15 hrs a day.

Good point. It isn't nearly as much if you only get to keep half in the end!

Oh yeah. No doubt about that. For a moment, I sat there, looked at the numbers and asked myself, "Why don't I want to do banking?"

Heady stuff.

I would look at these numbers with the same grain of salt that I use when I read a fund's performance history. After all, 'past performance' is no indicator of future gains.

The same holds true of several of these banking salaries which include a significant 'bonus' component to them. Its all rosy and attractive in a bear cycle, but as soon as a recession hits, you will see layoffs and difficulties in landing that job or the sudden disappearance of the bonus.

Also do factor in this little thing called Income Tax and Living expenses in NYC - esp with a peer group that promotes lavish spending.

Yea it sure does. I've seen that chart before, and even now, every time I look at it, I can't help but wonder a little bit.... but then I think about what the lifestyle is, and I just know I wouldn't last.

To answer your question - it might be very possible that somebody at an Associate level is making 100k USD in India. I heard the average bonus for Associates in DSP Merrill Lynch last year was around 40 Lakhs ($100k).

I think he was saying $100k all in (he gave another figure of $70k including bonus) which would be a lot less than analysts make in the US.

To BSD, these numbers are high, but not out of line with historical figures. Even in really bad years like '02 and '03, bankers were making as much or more than people in other MBA-level professions. And if you think living in NY on a banker's salary is bad, remember that the vast majority of the people who live in NY are not bankers and get by on a whole lot less. When I was in NY I knew a couple of new college grads working in consulting...ouch! They shared a 300 sq. ft. studio apartment (no partitions) and all their money went to rent. So, if you like living in a big city, it's better to make $300k than $100k.

I remember my brothers first apartment in NYC on the west side in the 80s. He was fresh out of college and making 23K in advertising. His place was the size of my kitchen and it cost pretty ever single cent he made. My parents had to send him money so he could eat and afford to ride the subway to and from work.

NYC is expensive but 300K could have you living nicely in a nice apartment in a desirable section of town and still have money to enjoy your life. Now 300K in Chicago and Boston goes further...make that in most other areas of the country and you will live like a king.

Just wondering, where can you get 150K with reasonable hours? The only thing I can think of is senior manager in a tech firm, however most of us are trying to get out of tech not into it. If there is a job like that I want to apply!