Understanding Career Trajectories 10 Years After Graduating from an IIM
The question of salary 10 years post-graduating from an IIM is a complex one, as it depends on a multitude of factors including personal choices, sector growth, company performance, and individual progression. It's important to understand that there is a wide range of outcomes, with some individuals achieving significant professional success and securing high salaries, while others may follow a different path.
Starting Point and Multiples of Salary Growth
One notable piece of advice from_shailesh_ is that the salary can range from 3 to 4 times the starting take-home salary. This can significantly vary depending on post-MBA career progression and the sector one works in. There have been cases where candidates have seen a salary increase of even five times their initial salary after a decade.
Expected Salary Range
Another perspective was shared by someone who suggested an expected base salary range. According to this individual, the salary could range from 35 to 40 lakh per annum (LPA) after 10 years, depending on the profile, company, role offered, and fixed costs.
Decade-Long Salary Evolution
The salary package for IIM graduates is typically offered during the placements conducted between December to February. Top IIMs usually offer average salaries in the range of 20-25 lakh per annum, while newer IIMs offer a range of 10-20 lakh per annum.
On closer examination, the salary trajectory can be estimated by taking the average starting CTC of an IIM graduate and multiplying it by a factor for each of the 10 years. Many individuals see an 8-10% increase year on year, which can result in a salary that is around 2.15 times the starting salary by the 10-year mark. This calculation, while conservative, provides a realistic view of what one can expect in terms of salary growth.
Variability in Career Paths
Another set of data shared by the user suggests an incredibly wide range of outcomes, from earning 30 lakh per annum to 1 crore per annum. While there are also instances of individuals earning significantly less, such as 12 lakh per annum, the success stories of those earning 100 crore per annum are equally interesting.
The career paths of individuals who graduate from IIMs can vary widely, and one's success is not solely determined by the salary earned. Factors such as personal choices, sector selection, and individual determinations play a significant role. It's important to focus on learning and personal growth during the MBA period, as it can lead to long-term success and satisfaction.
Insights from Personal Experiences
A personal story shared by another individual highlights the importance of focusing on the journey rather than just the outcome. The friend of the individual, who graduated from IIM C about 20 years ago, experienced a shift in professional and personal life. Having worked in various multinational companies for nearly 12-13 years, he eventually decided to sell organic fruits, vegetables, and milk. After a few years, he was earning less than 1 lakh per month and driving an old Maruti Esteem. However, he described himself as 100 times happier than before, emphasizing the importance of happiness and contentment in personal and professional life.
In conclusion, the salary 10 years post-graduating from an IIM is variable and cannot be accurately predicted without considering the individual's specific career path, the sector in which they operate, and their personal growth. While the numbers can be impressive, it is crucial to focus on long-term satisfaction and personal growth alongside professional success.