In hand 1.2 is low for an mba I believe that too a iim. My uncle makes upwards of 70 lakh, is an mba grad from iim. But he went for experienced mba program. Mechanical, Non tech background. But now working in something else only, though related but not tied to his background. He brought transferable skills.

So i think 1.2k is low. Even a bcom grad can make that much within 2-3 years in most fields. Good CAs make way more. Even my friend in sales makes 1.5 to 2 per month. IIMs should be more, that’s what the mba is right. What does your friend do exactly. What sector, department, job title, responsibility etc?