Monday, October 24, 2005

MBA Grad or School Dropout?

http://economictimes.indiatimes.com/articleshow/1264102.cms
Without getting into the merits of this article and getting trapped in generalizations, this certainly qualifies as a story-of-the-week, especially as the PGP cattle-fair auction (aka placement season) is drawing near.

PTI[ SUNDAY, OCTOBER 16, 2005 11:38:47 AM]NRI Special Offer!NEW DELHI: Salaries drawn by sweepers, attendants, drivers and helpers working at power giant NTPC can arouse strong envy among students from IIMs and IITs as the packages offered to school dropouts comes very close to what top MNCs might offer B-school graduates.
Lal Beni, who perhaps never went to school and works as a sweeper in National Thermal Power Corporation, draws an annual package of Rs 8,68,146. One Safal Ram working as a helper in the company enjoys a handsome package of Rs 8,98,369 per annum, according to the annual report of the Corporation. List does not end here. Raghu Nath Sharma, a school dropout (quit studies after 4th std), enjoys a remuneration of over Rs 6.5 lakh per annum. Prem Singh, could not continue studies after 6th standard, brings home Rs 7,89,821, which is well enough to embarrass a highly educated person. Satbir Singh, a driver who discontinued studies after 8th standard, earns Rs 9,18,941 per annum which is few thousands less than R D Kapoor, Bachelor of Engineering (Mechanical) and holds an MBA degree, and serves as Director in the same company and takes home Rs 10,62383, the report says. After having struggled to acquire MSc and PhD degrees, one D N Roy, Deputy General Manager in the company, could only manage half the salary (Rs 5,21,903) as that of Satbir.
A senior driver Rumal Singh earns Rs 5,67,447 which is few thousands more than that of Roy's. Thirty six years of experience and BSc (Engineering) degree could fetch only Rs 8,79,658 per annum for one S S Chakraborty, who serves as Chief Executive Officer in one of the units under the company, the report says.
The remuneration offered by the PSU includes salary, allowances, leave encashment, leave travel concession, payment for subsidised leased accommodation, reimbursement of medical expenses to employees and employer's contribution to Provident Fund and other funds.
However, it does not include the monetary value of the medical treatment provided in the Company's dispensaries/hospital of Project sites, since it cannot be quantified employee wise. In addition, the employees are entitled to gratuity/ group insurance in accordance with Company's Rules. The company also claims that none of the employees mentioned is related to any directors in the Public Sector Unit.

1 comment:

Yaniv said...

I am not sure of the authenticity of this particular news item. I saw it sometime back. The salaries should have found mention in the annual report of the company. I tried to read through the NTPC annual reports and did not find anything about it.

So I am not really sure if it is really true but then in PSUs anything could be true.

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