Interesting article....just wanted to point out a couple of issues....starting salary for *all* mbas on wall st. is about $175k, this includes $100k base and about $75k bonus, this is exactly what these kids have been offered, so there is nothing exceptional about their salaries.
Secondly, you are very mistaken if you think an mba like Gaurav is "great at creating complex financial models". In all probability he will either be trading or doing sales or at max looking at basic econometric models. To expect an iim grad to work on derivative pricing models is a joke, you need quants with serious technical backgrounds such as a phd in math or physics to do that kind of work.