IIT students bag Rs1 crore-plus placement offers
New Delhi: The placement season at the elite Indian Institutes of Technology (IITs) started on a robust note Thursday with some students bagging Rs1 crore plus offers on day one.
Nearly a dozen students from the older IITs at Kanpur, Delhi, Mumbai, Roorkee, Guwahati, Kharagpur and Madras bagged annual salary offers of Rs. 90 lakh-1.15 crore on the first day of the two-week long recruitment drive.
Among those who have got eight-digit packages are one from IIT-Roorkee and two from IIT-Guwahati. While Microsoft India has offered such packages both at IIT Roorkee and Guwahati, Oracle India has offered this package at Guwahati. Though IITs did not reveal details, at least three officials from different IITs, on condition of anonymity, said these lucrative offers were for global posting.
To be sure, these packages include base pay and allied company benefits, said N.P. Padhy, professor in charge of placements at IIT-Roorkee.
Companies or organisations which visited the IIT campuses on day one include software giants Microsoft India and Oracle India, financial services companies like Goldman Sachs and Credit Suisse, cab aggregator Uber India, e-commerce major Amazon, Indian Space Research Organisation (Isro) and ONGC Ltd. Besides, Samsung Electronics India, IBM Research India, Texas Instruments, Boston Consulting Group, Dalberg Global Development Advisers, Nutanix Technologies, Auctus Advisors, Xerox Research Centre, VISA Inc., ITC Ltd also visited these campuses.
In each of the campuses, 45-60 students were offered jobs till Thursday evening.
“Its a good and encouraging start of the placement process,” said Manu Santhanam, advisor, training and placement at IIT Madras. He said on day one, Microsoft, Samsung R&D, Goldman Sachs, Oracle, VISA, ITC made four or more offers at IIT Madras.
IITs said along with multinational firms, they have seen a good flow of public sector units. “For the first time, along with Microsoft and Oracle-type of companies, we allowed ONGC and Isro to hire on day one. The public sector units should have access to the best of the IITs’ talents,” said Padhy, a view that IITs at Guwahati, Kharagpur and Delhi echoed.
IITs said that while the flow of start-up firms has dried up significantly this year, core engineering jobs are coming in good numbers. On Thursday, there were double-digit core sector job offers by various companies, IITs said. Though it’s early, IITs said they are hopeful the average salary package this time will see a growth between 10-12%.