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iimjobs.com an exclusive job portal for MBAs from premier business schools in India released the findings of second MBA Salary Survey. The survey was conducted to understand trends in compensation of MBAs from top business schools in India.

The survey was administered from May 16 to 31, 2010 with over 5600 MBA graduates sharing their salary data anonymously.

“We conduct this survey every year to help professionals benchmark their salary against their peers in the Industry. We made sure that we didn’t collect any individually identifiable information to maintain confidentiality during the whole process. The data was then tabulated based on area of specialization and years of experience. The areas being covered as part of this survey are – Finance, Marketing, General Management/Consulting, and Systems (IT)”, said Tarun Matta, founder of iimjobs.com

Salaries grew fastest at 12.7% for professionals working in IT sector, taking them closer to their batch mates working in Finance and Consulting. Average salary for MBAs working in IT sector was observed to be 12.9 lakhs for 3 to 4 years of experience and 17.3 lakhs for 5 to 7 years of experience.

Professionals in Sales & Marketing saw 11.8% growth in compensation this year. Average salary for MBAs working in Sales & Marketing was observed to be 9.8 lakhs for 1 to 2 years of experience, 13.6 lakhs for 3 to 4 years of experience and 18.1 lakhs for 5 to 7 years of experience.

Average salaries in Finance was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.3 lakhs for 3 to 4 years of experience and 19.6 lakhs for 5 to 7 years of experience.

“Even though, salaries in finance and consulting didn’t increase as much as other sectors, the average salaries were observed to be higher than sales, marketing and IT. Finance and consulting still remain top choices for MBAs graduating from top business schools.

Average salaries in Consulting grew around 7.6% and was observed to be 11.5 lakhs for 1 to 2 years of experience, 14.7 lakhs for 3 to 4 years of experience and 18.4 lakhs for 5 to 7 years of experience.

-Hitesh, vcBytes.com

Started by Vishwas Mudagal, who heads JobeeHive.com as CEO and Founder today has got many kudos in the market and also has got faur data about well known MNCs typically IT online.

Vishwas explaining his venture mentions, JobeeHive.com is a unique platform that enables professionals and students to research employers and salaries across industry sectors and locations. JobeeHive enables users to rate/review companies (they have worked for), research on salaries or a prospective employer as well as get more info about a company – be it job offers, layoffs, announcements, business opportunities, etc.

The site provides rare salary information that helps professionals understand salaries, benefits and pay hikes in different companies across job grades and locations. And in the backdrop, JobeeHive is a platform to build a career network and interact with diverse industry professionals to tap their knowledge/ contacts.

JobeeHive incorporates all these utilities and more so that you have a blend of opinions and facts to help you choose your next move in your career or business with an enhanced sense of confidence.

JobeeHive.com BETA version was launched in September 2008 and today it is one of the biggest employer reviews sites in the world with 20,000+ reviews. JobeeHive.com was among the Top 30 innovative startups selected for HeadStart 2009

JobeeHive USPs for the professionals and employers include, 20,000+ company reviews submitted by employees, pays of companies, best work culture & job satisfaction, who is firing and who is hiring, Connect with diverse industry professionals & tap their knowledge etc. for professionals whereas for employees the stand as seeing what their employees are saying, know how they stack up against competition and salary standards as well as build their brand as a good employer.

With a non Indian competition primairly at this moment this portal has a good potential for UGC about the companies around.

VcBytes review – This may be a good place for market new comers to explore more about companies. This does have lot of useful information online about many companies written by people.  We feel this could have been a good portal would it have started say may be few years back to really have a good data. With the markets moving slow the value add portals offering employees option to compare their job offers may take a while to see a traction. However the employer USP does stay intact in the current market to get enough UGC about themselves. Also with lot of coverage on Indian companies some section do show global data which looks like a space-feeler, but has some interesting reads online.

Overall it’s a market leader in the same space and can see a traction soon in the market with marking showing some signs of revival.

Covered by, Rakesh@vcbytes.com