News Item: IIM-B creams the best paid jobs
$193,000. That’s how much 29-year-old Gaurav Agarwal of the Indian Institute of Management, Bangalore, will make once he joins Barclays Capital, a British Bank, to work on Global financial risk management.
‘‘I attribute the increasing salaries to the economy. I also feel that many Indian salaries being offered now are much more when compared relatively,’’ said Agarwal, an electrical engineer from IIT Kanpur. ‘‘I joined IIM Bangalore as I wanted to change what I was doing,’’ says Agarwal, who plans to return to India after a few years.
IIM-B also saw the highest offer for a domestic position by an international firm — at Rs. 30 lakh per annum. ‘‘This has been a historic event for us. Of the 182 students that opted for placements, 65 have already been recruited,’’ said placement committee member Saurav Bansal.
While it may be stale news that Indians are making unprecedented success in many fields and that too in global arena, maybe you’ve not noticed something between the lines: the success of typical middle class in general-- and Baniya class in particular-- in professional fields; the success of Baniya clan in business is already well-established. Baniyas have shown their mettle in business and be it Gujarati, UP or Marwari, the Baniya has the will and the capabilities to make money in any adverse situation.
Let me explain why.
You go to any IIT, IIM, Engineering, Medical, Management, Architecture or any other knowledge- based institution, you’ll come across many Bansals, Aggarwals, Jains, Guptas, Mittals at every level of these institutions and organizations. Have you wondered why?
1. Family Values: Baniyas are conservative, conventional, and enterprising. But, most of all, they are family people who respect family values. Which means, they respect their women and elders and inculcate good values in their children. I think the divorce rate in Baniyas might be the lowest, but I’ve no figures to substantiate this. Yes, the curse of dowry is there in Baniyas but then, it is there in the whole of Indian class.
2. Pragmatic and Progressive: Baniyas value progress and are extremely practical and adaptable. They realize that the only way to climb up the stair in the society is by education. No wonder, Baniyas are willing to sell their house to finance the education of their children and pay through their noses for making the best possible education available to their wards. They are also God fearing and religious, but liberal towards other religions.
3. Law abiding and conservative: Baniyas are the most conservative and believe in being law abiding. In US, the crime rate of Indians is the lowest and being highly educated expatriate and immigrants; they respect education, merit and are useful to their society they live in. Yes, they’re somewhatdabboo and cowardly, but being in interface with the general and sometimes envious public, they have learnt to be low profile and simple/ austere in their conduct.
4. Money-wise: The credit card companies in US are extremely angry with Indians for taking their credit card and paying the bills on them in time, unlike Americans; this means these companies make no money from them and this they don’t like. Baniyas like me take the cards, use it to the minimum and pay on time, much to the consternation of the card companies. Baniyas are the least defaulters of banks, loan companies and live within their means. They save money and use it for education, marriages and building properties. No wonder, most Baniyas die rich. They believe in living within their means.
5. Genetic Disposition: Baniyas are good at maths and they’re genetically inclined towards engineering, business and hisaab-kitaab. It is in their ghuttithat they get maths and science from their mothers and fathers.
In such a scenario, you will come across only two other sets of people who can compete with Baniyas in education:
1. Tamil Brahmins, who have been the back-bone of Indian bureaucracy and are extremely intelligent, honest and hard-working
2. Biharis, who thanks to Lalloos, have to run away from Bihar due to lack of infra-structure, law and order and some backing in the society for education are the next largest group who puts extreme premium for education and jobs in the govt.
So, no wonder if you come across a Baniya at every level of management in any organization.
Incidentally, the richest Indian is also a Baniya.
His name is Lakshmi Mittal.