Indian Economy: News and Discussion

[angryIndian]

Wasting 5 years of you life preparing for a gov job and than settling for a clerk or labour intensive job at the end of it. Why not judge your own capabilities and look for a humble beginning?
Drop 2 to 3 years for IIT, NEET Why not take a humble approach and settle for tier 2 3 college at the very first sign of failure.

Know several Nikas that dropped 2 years for IIT and 3 to 4 year for NEET, my own cousin is one of them.
When you see a hood of rats reaching for the same dangling piece of cheese, why not stay away from it and look for scattered pieces of cheese elsewhere. That is rat race.

The thing happening in India is not simply a rat race, it's a zombie apocalypse caused by the absolute scarcity of good colleges and jobs.In a rat race people are competing for position and higher wealth.In India, it's about survival.Not getting a good college can put you in a perpetual battle for survival.

Contrast that to the US.There is no cramming industry like Kota. There, even if you don't get into their version of IITs (Ivy League),the world will not end for you because there even local community colleges are of good quality.A graduate from Standford University gets $90K on average whereas a diploma graduate from community college gets on an average of around $45k, not like India where an IITian gets a package of 20 LPA and a Tier 3 graduate either remains unemployed or else if lucky gets a "mostly contractual" job with a salary of 2LPA.

 

[Suryavanshi]

The thing happening in India is not simply a rat race, it's a zombie apocalypse caused by the absolute scarcity of good colleges and jobs.In a rat race people are competing for position and higher wealth.In India, it's about survival.Not getting a good college can put you in a perpetual battle for survival.

Contrast that to the US.There is no cramming industry like Kota. There, even if you don't get into their version of IITs (Ivy League),the world will not end for you because there even local community colleges are of good quality.A graduate from Standford University gets $90K on average whereas a diploma graduate from community college gets on an average of around $45k, not like India where an IITian gets a package of 20 LPA and a Tier 3 graduate either remains unemployed or else if lucky gets a "mostly contractual" job with a salary of 2LPA.

Tiers of College:
Tier 1
-All IITs
-Top NITs
-Top IIITs
-BIT
-Jadavpur

Tier 2
-Bottom NIT
-VIT
-SRM
-KIIT
-Top Karnataka Colleges

Tier-3
-Techno India
-Most Kolkata based Enginnering college
-State Colleges.

Tier-4
-The enginnering college You have never heard about.
-Bihar gov Tech college.

 

[SKC]

Tiers of College:
Tier 1
-All IITs
-Top NITs
-Top IIITs
-BIT
-Jadavpur

Tier 2
-Bottom NIT
-VIT
-SRM
-KIIT
-Top Karnataka Colleges

Tier-3
-Techno India
-Most Kolkata based Enginnering college
-State Colleges.

Tier-4
-The enginnering college You have never heard about.
-Bihar gov Tech college.

There are so many Private Universities and Colleges which are Tier1 & 2 level:
BITs, PEC, few more.

 

[prasadr14]

Tiers of College:
Tier 1
-All IITs
-Top NITs
-Top IIITs
-BIT
-Jadavpur

Tier 2
-Bottom NIT
-VIT
-SRM
-KIIT
-Top Karnataka Colleges

Tier-3
-Techno India
-Most Kolkata based Enginnering college
-State Colleges.

Tier-4
-The enginnering college You have never heard about.
-Bihar gov Tech college.

Tier 0 - IISc

 

[Suryavanshi]

There are so many Private Universities and Colleges which are Tier1 & 2 level:
BITs, PEC, few more.

All tier 2 college offer a package of 5.5 lakh average. at least from what ive heard.
Last time I head from firend, he said that his core branch had 140 kids. 50% were picked by various mass recruiter, average salary of 4 lakhs.
top 10% were picked by Top Core companies at an average salary of 8 lakhs.
Exceptional package in that particualr class was 13.5 for a startup company and Amazon.
Lower end of core package were still 4.5 lakhs. Few Kids found decent packages outside.

Overall good prospect from tier 2.

The problem is there is not enough sectors to absorb tier 3 kids at decent package.

Spending 4 to 7 lakhs and getting a 2.5 lakh package is not very lucrative.

 

[another_armchair]

All tier 2 college offer a package of 5.5 lakh average. at least from what ive heard.
Last time I head from firend, he said that his core branch had 140 kids. 50% were picked by various mass recruiter, average salary of 4 lakhs.
top 10% were picked by Top Core companies at an average salary of 8 lakhs.
Exceptional package in that particualr class was 13.5 for a startup company and Amazon.
Lower end of core package were still 4.5 lakhs. Few Kids found decent packages outside.

Overall good prospect from tier 2.

The problem is there is not enough sectors to absorb tier 3 kids at decent package.

Spending 4 to 7 lakhs and getting a 2.5 lakh package is not very lucrative.

If the kid utilized those 4 years learning subject matter, then I wouldn't measure it along an ROI scale of lucrativeness.

 

[Suryavanshi]

@SKC What kind of education is the minimu requierment for operating a plastic moulding machine?
What is the most qualified role in MSME?

 

[SKC]

All tier 2 college offer a package of 5.5 lakh average. at least from what ive heard.
Last time I head from firend, he said that his core branch had 140 kids. 50% were picked by various mass recruiter, average salary of 4 lakhs.
top 10% were picked by Top Core companies at an average salary of 8 lakhs.
Exceptional package in that particualr class was 13.5 for a startup company and Amazon.
Lower end of core package were still 4.5 lakhs. Few Kids found decent packages outside.

Overall good prospect from tier 2.

The problem is there is not enough sectors to absorb tier 3 kids at decent package.

Spending 4 to 7 lakhs and getting a 2.5 lakh package is not very lucrative.

Yes, even in IITs also average package apart from the select few is around 6-8 lacs only. Majority of Mech guys goes into IT with ~7-8 lac package.

Even though you start with 2-2.5 lac from Tier-3, you can work smartly and jump easily in coming years.

 

[SKC]

@SKC What kind of education is the minimu requierment for operating a plastic moulding machine?
What is the most qualified role in MSME?

None!
For record purpose, ITI is favorable!

 

[SKC]

@SKC What kind of education is the minimu requierment for operating a plastic moulding machine?
What is the most qualified role in MSME?

Tons of positions in MSME:

Fitters,
Molders,
Sheet metal workers,

One of the Highest paying and Most skilled Job is: "Tools and Die" makers they can earn from few thousands to up to 1lac+.
There are multiple types of die making: Plastic component Dies, Aluminum Casting, Metal casting, etc.

Injection Machine Molders can earn from 20-25K since start, and it can go up to 30K+ with overtime extra.

 

[SKC]

If done honestly, Tooling room is a lucrative business!

Have seen People able to by VMC machines withing 2-3 years. VMC are really costly.

can do business of upwards of 5-10cr per year.

 

[Suryavanshi]

Tons of positions in MSME:

Fitters,
Molders,
Sheet metal workers,

One of the Highest paying and Most skilled Job is: "Tools and Die" makers they can earn from few thousands to up to 1lac+.
There are multiple types of die making: Plastic component Dies, Aluminum Casting, Metal casting, etc.

Injection Machine Molders can earn from 20-25K since start, and it can go up to 30K+ with overtime extra.

I think next to them Machine technicians also earn a lot depending upon how much contracts they get.
You guys fix your own machine right?

 

[ezsasa]

The thing happening in India is not simply a rat race, it's a zombie apocalypse caused by the absolute scarcity of good colleges and jobs.In a rat race people are competing for position and higher wealth.In India, it's about survival.Not getting a good college can put you in a perpetual battle for survival.

Contrast that to the US.There is no cramming industry like Kota. There, even if you don't get into their version of IITs (Ivy League),the world will not end for you because there even local community colleges are of good quality.A graduate from Standford University gets $90K on average whereas a diploma graduate from community college gets on an average of around $45k, not like India where an IITian gets a package of 20 LPA and a Tier 3 graduate either remains unemployed or else if lucky gets a "mostly contractual" job with a salary of 2LPA.

India is only on second cycle after partial-capitalism was allowed in the country in 1991, U.S had many such cycles over one and a half centuries, in between they also had a strategic goal of becoming the best of the best in the world when competing with USSR. age of the country also matters especially in a large country like ours.

two primary cycles for India during this period were I.T boom after Y2K and the current manufacturing boom, so demand supply between market and academia will play out, atleast we have to assume they will play out. but there will be lag of few years between market demand and academia figuring out how to fulfill the market demand, we are in this phase w.r.t manufacturing.

right now if we assume there are about 8 crore people employed in manufacturing sector, the number of engineers required will be proportional to the workforce. the more the sector grows both vertically and horizontally, more the requirement of talent. but the pyramids within pyramids will persist, top paying jobs will be a few and low paying jobs will be a plenty at the bottom.

and we need to remember all this is playing out while, some of the legacy issues since 1947 like basic education, health etc are not closed. at a national level we have a scenario addressing current immediate needs while spending time and money to close 75 year old issues.

 

[Abbey]

Tiers of College:
Tier 1
-All IITs
-Top NITs
-Top IIITs
-BIT
-Jadavpur

Tier 2
-Bottom NIT
-VIT
-SRM
-KIIT
-Top Karnataka Colleges

Tier-3
-Techno India
-Most Kolkata based Enginnering college
-State Colleges.

Tier-4
-The enginnering college You have never heard about.
-Bihar gov Tech college.

Tier 1 - dtu , nsut also

 

[SKC]

I think next to them Machine technicians also earn a lot depending upon how much contracts they get.
You guys fix your own machine right?

Yes, although often overlooked, Machine Technicians are paid very handsome salary in all major plants across the country.

Just search and talk to few on LinkedIn. I found out that they all are on LinkedIn. I was searching for Injection Molding Machine operators, and they are asked for really steep salary.

Yes, we have our inhouse Tool Room and employ Die Maker. We have contact with one Highly skilled Molding machine technician who solves any problem with our machines as freelancing whenever he gets free time.

Freelancing is big in Manufacturing business. People doing freelance jobs here and there and earn even more than their salary in their main company.

 

[Lonewolf]

Tier 1 - dtu , nsut also

Nah ,not even near , you should check out packages of IITs nowadays, average is above 15 laksh in og 7

 

[Lonewolf]

Nah ,not even near , you should check out packages of IITs nowadays, average is above 15 laksh in og 7

Top ones goes beyond 1 cr easily

 

[Abbey]

Nah ,not even near , you should check out packages of IITs nowadays, average is above 15 laksh in og 7

1.5 then ?

 

[Lonewolf]

1.5 then ?

Kind of

 

[SKC]

Nah ,not even near , you should check out packages of IITs nowadays, average is above 15 laksh in og 7

It gets skewed due to high packages of the Top 50-100 students.

Outside that take the mean again and it will be below 10Lac only.