Got an MSc degree It might be better than MBA or MCA

Written by Vrishti Beniwal | New Delhi, Oct 21 | Updated: Oct 22 2007, 03:56am hrs
If you thought that only a Master of Business Administration (MBA) or Master of Computer Applications (MCA) could fetch you a high-paying job, then you might be in for a surprise to learn that a Master of Science (MSc) degree holder earns more than the other two.

A salary survey report by Washington-based company PayScale, which provides online data on employee compensation, shows that the median of annual salary earned by MSc degree holders in India is about Rs 8.4 lakh. Bachelor of Science and Computer Science, however, earn only Rs 5.6 lakh and Rs 4.7 lakh, respectively.

Master of Science is followed by an MBA, who gets an average of Rs 7 lakh per annum. Bachelor of Engineering and MCA degree holders are at the third and fourth positions, with the median of their salaries coming at Rs 5.6 lakh and Rs 4.5 lakh, respectively.

Among cities, it's the working population of Bangalore which gets the highest median salary of Rs 6.5 lakh, followed by Mumbai and Delhi at Rs 5.9 lakh each, respectively, and Hyderabad at Rs 5.4 lakh. While the average salary in Pune is Rs 4.9 lakh, in Chennai it is Rs 4.7 lakh.

A professional in India in the age group of 44-65 earns maximum at about Rs 11.8 lakh per annum, whereas those above 65 years of age and in the age bracket of 25-44 earn nearly Rs 7.2 lakh and Rs 5.9 lakh, respectively.

A person with 1-4 years of experience gets Rs 3.4 lakh in a year. The amount increases to Rs 12.2 lakh as one moves up the ladder and gets over 20 years of experience in the resume. Men earn Rs 5.9 lakh, against Rs 4.2 lakh earned by their female counterparts.

The survey also showed that Oracle is the best pay master in India, with the median salary by an Oracle employee nearing Rs 6.9 lakh, compared with Rs 6.75 lakh in Hewlett Packard and Accenture. Indian IT companies Wipro Technologies and Infosys pay a median salary of Rs 6.4 lakh and Rs 6.3 lakh, respectively, to their employees.