Understanding the Earnings of IIT/IIM Graduates in India
The claim that almost 95% of Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) graduates earn more than 20000000 INR (2 crore INR) annually after five years is likely an exaggeration. While these institutions produce some of the highest-paid graduates in India, the actual percentage achieving this level of earning is much lower.
Realities of IIT and IIM Graduate Earnings
According to various reports and placement statistics, a significant portion of IIT and IIM graduates do secure lucrative job offers. However, the salaries can vary widely depending on several factors such as the individual's specialization, the sector they enter, geographical location, and overall economic conditions.
As of 2023, many IIT graduates often earn substantial salaries, with some reaching or exceeding 1 crore INR (10 million INR) per annum within a few years of graduation. Meanwhile, IIM graduates, particularly from top-tier programs, may also command high salaries ranging from several lakhs to a few crores INR (10 million to 20 million INR). However, stating that 95% earn over 20 million INR annually is not supported by credible data and seems implausible. For accurate figures, you should refer to specific placement reports from these institutions or industry surveys.
Typical Earnings for IIT and IIM Graduates
The annual salary for IIT students typically ranges from INR 10 to 20 lakh (100,000 to 200,000 INR). For students from premier IITs, the range is more likely to be between INR 20 to 30 lakh (200,000 to 300,000 INR). The maximum compensation package routinely awarded by the best IITs is over INR 1 crore (10 million INR), despite the fact that the yearly CTC (Cost to Company) for IITs ranges from Rs. 30-70 lakh (3 million to 7 million INR).
At emerging IIMs, the average annual wage package usually ranges from INR 10 to 20 lakh (100,000 to 200,000 INR). Top IIMs frequently offer a compensation package of INR 20 to 25 lakh (200,000 to 250,000 INR) annually. The highest salary offer at the top IIMs ranges from INR 70 lakh to INR 1 crore (7 million to 10 million INR) in CTC. The starting pay scale for possible foreign employment is typically INR 60 lakh (6 million INR).
The Reality of Earnings
Wishful thinking often plays a role in these exaggerated claims. The salary of IIT/IIM graduates is tremendously varied depending on a lot of things, including their field of specialization, the company they join, and their overall performance during their tenure at the institution. These factors significantly influence the final compensation packages.
For a more accurate understanding, it is essential to refer to specific placement reports and industry surveys. For detailed insights and expert advice, you can also book a free consultation call at 91-8151000501.