26 January, 2021

The Pay Is Gross

Two myths about dream salaries. One, the take-home is usually more down to earth. Two, SC/ST students still get a raw deal.

Kedar Bhat
The Pay Is Gross
outlookindia.com
-0001-11-30T00:00:00+05:53
When assorted surveys come out chronicling the sky-high salaries that companies offer freshly-minted graduates, it’s easy to imagine a collective sigh of despair and a deep sense of envy amongst the country’s middle class. Most of us wonder why we didn’t attend such a course. Although this piece is not guaranteed to have a placebo effect on you, it may help ease some of the heartburn.

Consider this: the fancy salary you hear or read about, in most cases, includes intangibles like cost of training, variable pay and relocation expenses. Many of them are just one-time payments. So, a Rs 10 lakh per annum salary actually translates into Rs 6-7 lakh, which makes the take-home gap between you and the new marketing whizkid on the block perhaps not that huge. Take, for instance, a leading airline company. It pays MBA graduates an annual salary of Rs 13 lakh. But that includes several notional benefits such as free airline travel and health insurance premium (Rs 2 lakh). Benefits from potential foreign postings and variable pay accounts for a...

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