This is BULLSHIT!!!
Why do you think money = happy life ?
When you are good at your work, money will definitely come!
And by your standard, how many IITians get more than Rs. 50 crore per year? Does that mean that next thing you will tell him to become Suresh Kalmadi?
I mean, even before the lad has given the entrance examination, you are telling him to think about his salary when he completes 15 years in his field!
I was within the top 20 in JEE, but didn't join IIT coz I wanted to be with my GF. Took admission in her college 
But still, today I am working with the best people in my field. And my scholarship is more than some of the figures that you have pointed out

(ya, I am still studying for an advanced degree).
@OP
First decide the subject that you truly enjoy. A subject should decide the institution, not the other way round.
Next, try your level best to get into a reputed institution.
Doesn't matter which institute you join, enjoy your college life (the best years!) and develop a real good understanding of your subject.
Rest all will automatically fall into place.
All such institution comparisons are useless unless you have your result in hand.