Moneycontrol
Last Updated : Dec 03, 2018 12:27 PM IST | Source: Moneycontrol.com

Big bang start to placement season at IITs; highest salary offered stands at Rs 1.5cr

Microsoft has been the largest recruiter across IITs so far, in terms of the number of job offers made

M Saraswathy @maamitalks

The final placement season at the Indian Institutes of Technology (IIT), across over 20 locations in the country, has begun on a positive note. In merely two days since the start of the process, more than 1,800 positions have been offered to students with technology companies offering the maximum number of jobs.

Average salaries are in the Rs 13-15 lakh range across campuses, similar to last year. The highest domestic package is around Rs 47 lakh and the highest international package is around Rs 1.5 crore.

However, placement officials told Moneycontrol that the average salary packages offered were similar to last year, with some exceptions offering 3-5 percent higher than last year. Across campuses, Microsoft has turned out as the largest recruiter in terms of job offers (as of December 2).

The placement process that began across IITs on December 1 will continue till the end of the month. Students can also opt out of the placement process to pursue entrepreneurship. Students are also eligible for pre-placement offers (PPOs). This means that if a student has performed very well during their summer internship with a company, the company may be ready to absorb them for a full-time position after they complete their course.

IIT Roorkee

Take IIT Roorkee for instance. In the midnight slot of the first day of placements, the institute received 215 offers from 10 companies, including 150 PPOs. The engineering institute also received seven international offers. A total of 1,354 students registered for placements across departments this year.

Participant companies for the midnight slot include Microsoft, AQR Capital Management, DE Shaw India, Goldman Sachs Services, Google, JPMorgan Chase & Co, Quantitative Research, among others.

On Day 1, Microsoft made 22 offers including three international placements. It also offered nine PPOs taking the tally to 31 offers. The highest salary in the domestic category was Rs 47 lakh and the international package offered was Rs 1.5 crore.

IIT Madras

At IIT Madras, a total of 85 offers were made by 19 companies during the first session of Phase I placements. This includes six international offers as well.

The big recruiters -- Microsoft, Google and Apple. McKinsey, The Boston Consulting Group and Bain & Co -- made 13 offers in the first session. Microsoft made the highest number of offers, 25 for three profiles. The other recruiters with large selections were Goldman Sachs (7) and Apple (8).

Also, Indian Space Research Organisation (ISRO) and Oil and Natural Gas Corporation (ONGC) have already recruited four and three candidates, respectively, thereby taking the total offers in the first session to 92.

In the second slot of placements, 23 companies with 48 profiles are scheduled to participate. These companies include Airbus, Shell, JP Morgan, Star India, Intel, Qualcomm and General Electric.

Manu Santhanam, Advisor, Training and Placement, IIT Madras, said, “We had premier companies in the first slot, which made a large number of offers to our candidates. The number of finance/analytics offers has been excellent in the first slot, with 29 offers being made by such firms. With the high profile recruiters in the next slot, we hope to improve on our Day 1 numbers as compared to last year.”

More than 1,300 students are registered for placement this year from IIT Madras across different streams of study. There are more than 490 profiles from nearly 326 companies that are planning to visit campus in the first phase of placements that lasts until December 8.

IIT Bombay

At IIT Bombay, 21 companies participated in the process on Day 1. For domestic roles, the highest numbers of offers were made by Microsoft, Qualcomm, BCG, Strategy and Cairn. The maximum international offers were made by NEC Japan, Microsoft, Optiver, Rubrik, Cohesity and Uber.

Among sectors, prominent hiring was undertaken by core engineering, IT/software, finance and consulting. IIT Bombay expects more state-run entities to participate during the remainder of the placement season.

The institute in a statement said the number of offers whose salary is greater than Rs 25 lakh is more than last year. However, it refused to reveal the number of such companies.

For Day 1, the highest domestic offer was made by Blackstone at Rs 45 lakh per annum. Among international offers, Microsoft made the highest offer of $164,000 (about Rs 1.14 crore) per annum. The prominent sectors that hired include core engineering, IT/software, finance and consulting.

IIT Hyderabad

IIT Hyderabad started the placement season for 2018-19 on a robust note with 14 offers received from three companies during the first session. The institute also received four international offers from companies like Works Applications, SMS Datatech and Softbank.

Around 130 companies registered for Phase 1 of placements. A total of 418 students have registered for placements across departments this year.

Prominent first-time companies this year include: Softbank, Mercari, Toyota Research and Toshiba. Traditional recruiters such as Flipkart, Amazon, Samsung, Xilinx, Qualcomm, Maruti, ISRO, GE and Tata Consultancy Services (TCS).

Amit Acharyya, Acting Faculty-in-charge of Placements, IIT Hyderabad, said, “We are witnessing an increased participation from Japanese companies. As a result of our collaboration with Japan and their institutes, around 14 companies are visiting this season to hire IIT Hyderabad students.”

How are students selected?

The process of recruitment follows companies making a presentation followed by students sitting for placements. Companies use a mix of traditional interviews as well as coding tests for specialised positions. Depending on the type of job, multiple levels of interviews are also held.

Complete placement?Contrary to popular perception, not all students who register for the placement get a job. For instance, at IIT Bombay, about 1,117 students of the 1,497 participating students got placed (74.72 percent) in last year’s placement process. Similarly, at IIT Madras about 70.05 percent of the students who registered for placement received a job offer.
First Published on Dec 3, 2018 12:27 pm
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