Salary package depends on the B-school you are from: Survey

NEW DELHI: The name of the college can affect the pay packet as companies are preferring premier B-schools while hiring for human resource domain and are ready to offer a salary that is twice than what is given to any normal business school graduate, says a survey.

According to a survey by executive search firm MANCER Consulting, a candidate with 2-5 years of experience from a premier B-school gets a salary of Rs 10-12 lakh per annum for the post of Business Partner, while for the same post, a candidate from a normal B-school with similar years of experience gets Rs 4-7.5 lakh per annum.

For experienced hires also, the salary discrepancy is huge as a candidate with over 11 years of service in the HR role gets a pay package of Rs 45 lakh per annum, while an applicant with similar credentials from a tier II business school would get only Rs 22 lakh per annum, the survey said.

"Last few years have shown salary fluctuations across the human resource profession in specialised functions in different industries. Industries are getting more focused on B-School hiring for specialised roles," MANCER Consulting CEO Satya D Sinha said.

According to the survey, market is getting tough for graduates who qualify from Tier 2 and Tier 3 B-Schools to enter into HR Specialists role at the starting of their career as MNCs and large multinational players are getting more inclined towards HR professionals from top tier B-schools for their major HR functions.

From a mere administrative role, the duties of Human Resource professionals have evolved to an internal consultant, it said.

Depending on the size of a company, the responsibilities of Human Resource professionals now includes business partner, recruitment, hiring, learning and development, employee benefits and compensation as major roles.

With a brighter economic picture, companies are seeking more HR specialists to help integrate new employees.

Accordingly, the qualifications needed for a job in the HR domain have witnessed a sea change.

Previously, a masters degree with background in psychology or organisational design and management was enough to land one in a job in HR domain. Now-a-days organisations prefer to hire candidates with an MBA degree to manage HR processes and that too from premier B-schools, the survey added.