Is there CTC elitism in corporate India?
I don't have a tier 1 college engg degree or an MBA.
3 years ago I joined a startup that had (still has) 70% IITians. I discovered that IIT interns were getting paid stipends more than my CTC for nothing. Is this still true?
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Short answer:
Yes.
Long answer:
It all starts with campus hiring.
Whenever a company goes to hire from campus they want to attract the best talent.
Biggest motivator is the package, hence companies offer higher packages at colleges where they expect better talent - IITs & IIMs.
Now once you enter the system with CTC disparity, it take atleast a decade to come to parity.
But if you do an MBA in between another level of disparity is introduced.
Second reason:
Mostly alums of prestigious institutions who reach the top of big corporations or even startups, prefer hiring from their own institute and hence are ready to offer a better package, which further fuels the disparity.
Third reason:
It's easier to justify giving a higher package to IIT/IIM alums.
The odds of getting high performing employees is better at these institutions vs others. Therefore, even if there is a bad hire, no one is questioned why they were hired - "They are from IIT!" Is a justified response. Even IITs have bad apples.
But in case the pedigree is not good then it raises a doubt on the hiring manager.
Top tier answer here.
Just sounds like caste got a capitalist makeover.
Bias has several names and is inevitable in all human endeavours
True true
Agreed.
I also get that most top tier grads are good people and all that. But the fact is most of the ones who clear these exams come from good to privileged backgrounds.
I don't think it's fair that they go on to decide how resources are allocated and policies are made for everyone else. Or am I missing something?
There are a lot perks if you work your ass of during 11th 12th
I gladly leave those perks
i tell this to everyone - the reward/input ratio is insane for JEE grind
Wish tier 2/3 grads form startups and hire from their colleges, instead of whining.
LoL. What a novel idea. You will get funding from who bro?
VCs don't fund even if you're from top tier colleges, good luck if you're from tier 2/3. Screw that, even bank won't give loan XD
You answered it yourself.
VC don't find even if you are from top tier. That means those who get funds, do something extra. Recognise when someone get admission in big colleges, they had done something "extra".
Luck is when opportunity meets preperation.
PS: I'm not from IIT, in fact from a very ordinary college. I am "aware" of the difference some of the IITians bring. It is not that each of the IITians are better than me individually, it is that on average IITians are better than the average of my college. It is important to reflect at times.
If that irks you, wait till you find out how much is the disparity with B-school graduates.
I have a friend from ISB and another from IIM Vizag. The CTC difference is about 2.5x and I can confirm ISB friend doesn't bring 2.5x the value or have 2.5x the brains.
I knew a PM from IIM who didn't know the most basic stuff about the product and he getting a bomb
Oh hell yeah!! I have seen an IIT/BITS fresher getting same or even a bit more package than the well experienced and seasoned employee in a giant IT MNC . What's more tragic was that the experienced fellow had to give KT and explain things to those freshers.
Giving KT is inevitable, but yeah knowing that the fresher earns more than you and you are giving KT to them is just 😂😣
Yes BUT I see a lot of people squandering that advantage very quickly. Started at 5lpa (non target, social sciences) but upskilled fast+negotiated hard. Lots of people rest on their laurels and don’t bother pushing as hard as their peers.
Can you give me an idea of your current compensation range?
32lpa+esops+performance bonus :)
My team is 90% IITians but the rest 10% are insanely smart guys who are VERY good at what they do.
You can get in top places if you can provide results.
Only an idiot manager would turn down a good candidate only because of college not being IIT.
