Do not go by average salary, it's a very uncertain thing to do. If you want to know about the placement prospects, then find the median salary of that college but very few colleges show that. The fee for XIMB is Rs. 19.5 lakhs excluding hostel fees.

If you get a job with a salary of Rs. 11 LPA and this salary will have a joining bonus which will be about Rs. 1 lac and that will be a one-time payment and will have to be returned to the Employer if you leave before finishing a year and second is performance bonus component. 

Now, you have left with Rs. 9 lacs in total i.e gross salary. The calculated money one will get in hand will be reduced to the following

• PF contribution which is 12% usually in this case Rs. 1.08 lacs.
• Taxes will be 0 if the salary is below 2 lacs and 10% if between 2 to 5 lac and 20% if between 5 to 10 lacs. In this case, it will be about Rs. 88,400.
• Net Income Annually will be Rs. 7,03,600 and monthly will be Rs. 58,633.

Now coming to expenses if you have an education loan then the EMI for the education loan of Rs. 20 lacs will be borrowed at 8.75% for a 15-year term and that will be about Rs 20,000 and now basic living expenses i.e Rent, Transportation and Food, which will be about Rs. 10,000 for accommodation. If you buy a bike on EMI of Rs. 3000 and fuel of Rs. 1500 per month it will be of total Rs. 4500 and for food, it will cost around Rs. 400 a day so it will be Rs. 12,000 a month.

So you save INR 3,500 per month. Even if you live frugally you cannot save more than Rs. 10,000 a month. So, about 1.2 lacs per year will be saved. If you don’t have the EMI of the educational loan then you can save INR 2.40 lacs more.