Is Zomato's 'Rs 20 lakh, no-salary job offer' really worth it? A comparison of Goyal's '10x learning' promise with top MBA programs

Zomato CEO Deepinder Goyal¡¯s job posting for a Chief of Staff role has taken the internet by storm¡ªand for good reason. In an unconventional move, Goyal is asking candidates to invest a hefty Rs 20 lakh upfront, with the promise of ¡°10x more learning¡± than what a top-tier MBA program offers. And, there¡¯s a major catch: the position offers no salary for an entire year. Naturally, this has sparked a heated debate. Is the experience truly worth the steep price tag? Does it deliver more value, both financially and educationally, than an MBA from a prestigious business school? Let¡¯s dive into the details and find out.

Update: I am looking for a chief of staff for myself. pic.twitter.com/R4XPp3CefJ

¡ª Deepinder Goyal (@deepigoyal) November 20, 2024

Top 3 MBA programs in India

Indian Institute of Management, Ahmedabad (IIM-A)

Cost: Rs 25¨C27 lakhs for a 2-year program?

Benefits:

• Average placement package of Rs 36¨C40 LPA?
• Prestigious alumni network and opportunities in top-tier global firms.
• Learning: Case-based pedagogy, leadership focus, and a curriculum benchmarked against global standards.

Indian Institute of Management, Bangalore (IIM-B)

Cost: Rs 24¨C26 lakhs for a 2-year program?

Benefits:

• Average placement package of Rs 35¨C37 LPA.
• Exposure to international exchange programs and diverse peer networks.
• Ranked consistently among the top schools for employability in India.

Indian School of Business (ISB), Hyderabad

Cost: Rs 45¨C49 lakhs (inclusive of tuition, boarding, and GST) for a 1-year program?

Benefits:

• Average salary of Rs 34 LPA post-graduation.
• Curriculum tailored for experienced professionals with global exposure.
• Partnerships with global schools like Kellogg and Wharton.

Top 3 MBA programs abroad

Harvard Business School (HBS), USA

Cost: $223,000 (approx. Rs 1.8 crore), including tuition, fees, and living expenses.

Benefits:

• Median starting salary of $175,000+ (approx. Rs 1.4 crore).
• Access to an elite network of global leaders and entrepreneurs.
• Renowned for its case method teaching and global prestige.

Stanford Graduate School of Business (GSB), USA

Cost: $245,000 (approx. Rs 2 crore), including tuition and living expenses.

Benefits:

• Median starting salary of $180,000+ (approx. ?1.5 crore).
• Close ties with Silicon Valley for entrepreneurial and tech-related opportunities.
• Highly personalized program for leadership development.

INSEAD (France/Singapore)

Cost: €110,000¨C€120,000 (approx. Rs 1 crore), excluding living expenses.

Benefits:

• Median salary of €115,000 (approx. Rs 1 crore).
• One of the most diverse student bodies globally.
• Accelerated 1-year program with strong emphasis on international business.

Is Deepinder Goyal's offer really better than an MBA?

Now, let¡¯s compare Zomato CEO Deepinder Goyal¡¯s ¡°pay Rs 20 lakh and work unpaid for a year¡± offer to an MBA:

Cost: Top Indian MBAs cost Rs 25¨C49 lakh; global ones run Rs 1.8¨C2 crore. Goyal¡¯s deal? Rs 20 lakh upfront and no salary for a year. He¡¯s calling it an "investment,¡± and it might as well be.

Learning: MBA programs offer structured lessons, global exposure, and peer learning. Goyal promises ¡°10x more learning¡± by immersing you in his fast-paced corporate chaos. Well, does sound like a lot of hands-on learning.

ROI: Top MBAs lead to Rs 35¨C40 LPA in India, or Rs 1+ crore globally. Goyal promises Rs 50+ LPA starting in year two¡ªa gamble for those who survive.

All in all, it does seem like a unique opportunity that could pay off¡ªif you¡¯re part of the elite few who can drop Rs 20 to spare at the drop of a hat. For the rest of us? We¡¯ll stick to our 9-to-whenever jobs (let¡¯s be real, it¡¯s never just 5) and the comfort of knowing a paycheck awaits us at the end of the month. Stability > hustle? You decide.

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