I am both anguished as well as amazed to see the mathematics-ignorance of the media around us...Salaries can be looked at as samples from a population of salaries (and that's why average salary means mean of the population of salaries)... What my learned friends, uncles, aunts and sometimes close relatives fail to understand is that the very high pay packet salaries in day 0 belong to an entirely different population of salaries...so it is wrong to say that the mean salary at IIM A is say 10Lakhs...imagine with a few sky rocketing salaries as high as that the mean has been distorted to 10L..we shud be talking separately abt median..because it makes more sense but unfortunately even the IIMs in their bid to show each other down don't really care abt it... The IIM grads who get these paypackets are definitely great and thus commenting on their deserving the pay packet is something I wont do but it is also true that sometimes the best brains (by ranks in the batch) also end up without a day 0 offer... I don't know when this mad rambling abt salaries is going to end but the sooner the better for the comparatively poor Indian job once a time batchmates of theirs...
