Mr. Najeeb Note the example below:
A Bell 212A modem uses Phase Shift Keying (PSK) modulation, and each symbol has one of four phase shifts (of 0(deg), 90(deg), 180(deg), or 270(deg)). Since it requires two bits to represent four states (00, 01, 10, and 11), the modem transmits 1,200 bits/s of information, using a symbol rate of 600 baud.
Usually the baud rate of a modem will not equal the bit rate and is of no interest to the end user--only the data rate, in bits per second, is.
Therefore in referring to the data rate of a modem, use bits/s (or kbits/s, etc.), not baud rate.