aviroop wrote:
Was wondering about this a bit..
I guess gone are the days when one would jump in joy after getting an annual six figure sum in Indian rupees.
Whats the salary for a newly minted MBA person who returns from USA to work in IB/MC/PE. In terms of IB, I know its mostly equity research and a bit of M&A that goes on in India but sales and trading seem to be growing on..
I have been hearing some figures (inlcuding bonuses) that are almost similar to the 100k figure one earns in NYC..
Is this true? One of my Indian friends at Credit Suisse told me he earns approx $70,000 annually(including bonus) in Mumbai.
Some opinions here please...
$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.
Attachments
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