Is the ICICI Business Leadership Programme Salary Comparable to Industry Standards?
The ICICI Business Leadership Programme (BLP) is a highly coveted opportunity for young professionals to kickstart their careers in the financial industry. However, like any other aspiring candidate, you may be wondering whether the salary offered by the programme is comparable to the industry standards.
Introduction
Before delving into the salary structure of the ICICI BLP, it’s crucial to understand the importance of compensation and benefits packages in attracting and retaining top talent in the corporate world.
A well-designed compensation package not only helps organizations to attract and recruit the right talent, but it also ensures that the employees stay motivated and committed to their job roles.
The ICICI BLP – Understanding the Programme
The ICICI Business Leadership Programme is a one-year, intensive programme that aims to train and groom future leaders in the financial sector. The programme is highly competitive, with around 100 selected candidates undergoing rigorous training and mentorship before being absorbed into ICICI Bank.
The programme is divided into two phases – the first six months focus on classroom training and the remaining six months provide an opportunity for hands-on experience across different functions of the bank.
The ICICI BLP Salary Structure
Now, coming to the most crucial question that you may have – what is the salary structure of the ICICI BLP? ICICI Bank provides a salary of Rs.15 lakhs per annum to the selected candidates, along with other benefits such as housing allowance, medical insurance, and employee stock options. While the salary is inclusive of all the allowances, you should note that the living expenses in Mumbai, where the programme is based, can be high.
How does the ICICI BLP Salary Compare to the Industry Standards?
Now, let’s compare the salary offered by the ICICI BLP to the industry standards. According to the data from Glassdoor, the average salary of an entry-level management trainee in the banking sector is around Rs.5-7 lakhs per annum. In contrast, the ICICI BLP offers a salary that is almost double the industry average.
It’s also valuable to note that the ICICI BLP provides an opportunity for candidates to acquire in-depth knowledge of the Indian banking sector and to gain exposure to the best practices followed in the financial industry.
Conclusion – Key Takeaways
To summarize, the ICICI Business Leadership Programme offers an attractive compensation package that includes a salary of Rs.15 lakhs per annum, inclusive of various perks and benefits. The salary offered by the programme is almost double the industry standard, making it a highly coveted opportunity for aspiring banking professionals.
However, it’s crucial to note that the programme is highly competitive, and only a handful of candidates are selected after a rigorous selection process. Additionally, while the salary package is attractive, the living expenses in Mumbai can be relatively high.
Overall, the ICICI BLP is an excellent opportunity for young, talented professionals looking to build a career in the financial industry and gain exposure to some of the best practices followed in the banking sector.
