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IIM guy here (no IIT). YOE 3.5. TC 24 lpa :/
Please tell me too who are these guys and what are these companies.
You are missing a point. If at all such people are earning that much amount, clearly they didn't get there by asking folks on fishbowl or looking for "high paying companies." There is a good possibility that they took a chance with their career and started with the small scale companies or started any wing/dept in the big players of their industries and make it successful.
How much ever you want to romanticize it, jobs like these don't come in through normal interview process. You either know these players, and they pool you in with them, or you have to be exceptionally well known in your area of work, and they will poach you.
I wish you all the best in attaining it one day. Keep dreaming big.. you will eventually get it.
My cousin is from IIT. He is earning 6.5 Lakhs in hand(Intel corporation) and working in a leadership role. He has 6+ YOE. I thought this is the norm for IIT folks
@SE1, in a company every level has a salary band.
So I'm not defining any average salary, I'm assuming your cousin is getting max pay for his level band and it still doesn't seem true.
I know a person from MIT (phd) and earning close to 2 crore after 18 years of work experience. Not all IITians earn 5-6 crores. I know few in my husband's circle who are surely doing well but money doesn't come like rain.
Also, it takes years of hard work, good personality, leadership skills. Not all IITIans are like that, IIMs, yes do groom. My hubby has done executive MBA from IIM Ahmedabad but he slogged for that one year and we know how we managed to run the house with 2 kids. So, if someone is earning in crores, please note they slogged like anything, their immediate family members put a lot of hard work too. No one will bring 5-6 crores on plate.
Either a lie or these folks are in top 1% of IIM ABC grads like less than 10/1000 IIMABC Grads reach there mostly in PE/VC firms
Chai Samosa Panipuri Stall business infront of hostel.
Easy 4~5 Cr income per FY. No Tax .
Nops, an iim indore 2020 Alumni. Had a lot of iit guys in my batch. Job offer ranged from 9 to 40+ LPA (in India), 80 LPA - 1 crore for countries like Nigeria. I have friends from IIM A too. Similar situation is there too (range differs by a bit)
I don't think it is practically possible to increase your CTA from 40 around to 5 + crore in 5 years.
Theoretically, this is possible if you started on your own startup just after iim and scaled it within 5 - 6 years at a good level. But my understanding is that we are excluding such cases
I am not from IIT or IIM. I had got a package which includes stocks - around 60lakhs for 4 years + 40lpa fixed. Total i could say 1cr but there are loopholes. If you calculate stocks value+ perks and allowance outside the CTC + fixed itay look like a big money. One of my senior went to leadership roles recently in another organisation. Since he is responsible for bringing miney into the organisation, he owns a percentage+ he has company owned flat and car. His package if you calculate in money would cost around 2 Cr. But again profit may be less, flat and cars value is included in this 2 Cr but that's not in-hand salary. I think it is very difficult to get more than 4L in hand per month in any case. Otherwise you have to work for remote foreign companies or work abroad or you sell the stocks
Wow..so much for just 5 years :(
What’s the source? If you know those folks then just check their profiles in linkedin. I too have IIT D + IIM A colleagues but earning in the normal range of compensation.
IIT IIM grad here .. most of the higher package has stocks. 35-40 is mostly fixed.. eg : senior to principal product at Amazon/ Microsoft etc.
Impossible in India atleast.
Nope
If I don't declare my expenses, what will be my in hand salary? Basic(Annual):INR560,000
Basic(Monthly):INR46,667
House Rent Allowance(Annual):INR280,000
House Rent Allowance(Monthly):INR23,333
Provident Fund (Employer's Contribution) (Annual): INR67,200
Provident Fund (Employer's Contribution) (Monthly): INR5,600
Total(Annual):INR907,200
Total(Monthly):INR75,600
Employer’s contribution to National Pension Scheme & Reimbursable Flexible Benefits
(RFB)*:INR492,800
I'm new. Please help me 🙏🙏
Dude no way a salaried individual is making that money in India. If it's too good to be true, then it it.
😳😳
Just found out this is in India only🥹
50 lakh + is common for the coterie you described.
1 cr+ is rare.
5-6 cr is extremely rare.
Are you sure they are IIT/IIM graduates but not the tea stall owner outside the IT park!!!!