Moneycontrol Be a Pro
Get App
Last Updated : Dec 06, 2019 03:07 PM IST | Source: Moneycontrol.com

Crorepati engineers: Day 1 of IIT placements brings in fat salary offers

IITs have seen a 15-20 percent rise in the first day packages compared to last year across campuses


Day 1 of final placements at various Indian Institutes of Technologies (IITs) saw over Rs 1 crore salaries being doled out to the soon-to-graduate engineers. Large technology companies dominated Day 1 of placements.

The process, which began on December 1, is expected to conclude within the next few weeks. The students will join these companies after their graduation in 2020.

“International offers of over Rs 1 crore have boosted sentiment,” said the placement head at an IIT.

Close

IITs conduct final placements in a phased manner. Companies are usually segregated on the basis of their profile and sector, with multiple slots on each day.

IIT sources said the average salary per annum across campuses stood at Rs 16 lakh, while the highest salary stood at Rs 1 crore.

IIT Bombay

At IIT Bombay, Microsoft made an international offer of $1.64 lakh per annum (about Rs 1.18 crore); proprietary trading Optiver: 1.30 lakh euro (equivalent of Rs 1.03 crore); and Uber: $1.43 lakh (around Rs 1.02 crore).

Among domestic offers, Qualcomm offered Rs 32.6 lakh per annum; Google: Rs 32 lakh per annum; and Goldman Sachs Rs 31.5 lakh.

Day 1 saw 18 companies participating in domestic placements. The highest number of offers were made by Qualcomm, Microsoft, Google, Texas Instruments, Boston Consulting Group and Goldman Sachs.

IIT Madras

Day 1 of placements at IIT Madras saw 20 companies making 102 offers compared to 85 offers received last year. There were four international offers by global IT firm Cohesity, Microsoft, cloud software firm Salesforce and Uber.

Microsoft, Goldman Sachs, Qualcomm, and Boston Consulting Group (BCG) were among the top recruiters in Session 1.1.

In the second slot (Session 1.2) of Day 1 placements, which is being held between 4 pm and 11 pm on December 1, a total of 30 companies with 42 profiles were scheduled to participate. These companies include Samsung Semiconductor, Jaguar and Bajaj Auto.

Manu Santhanam and CS Shankar Ram, Advisors, Training and Placement, IIT Madras, said the maximum number of offers were from computer science and consulting sectors.

Microsoft and Goldman Sachs made 20 and nine offers, respectively. Indian Space Research Organisation (ISRO), Qualcomm and BCG made six, nine and seven offers, respectively.

IIT Hyderabad

At IIT Hyderabad, slot one till 3 pm on December 1 saw 53 offers from 15 companies. Last year, at the end of Day 1, the total offers stood at 56 across three slots.

The institute also received six international offers from companies like TSMC, SMS DataTech and NTT-AT. It is conducting placements in three slots starting from 7 am to 12 midnight. Phase I of campus recruitment for 2019-20 will be held between December 1 and 12. Phase II will take place between January and April 2020.

A total of 477 students have registered for placements across departments this year. For Phase I of placements, a total of 224 companies have registered compared to about 150 companies in the same phase last year (2018-19). A total of 244 companies registered for the whole of last year (2018-19).

Companies like BookMyShow, Jaguar, Bajaj Auto and BNY Mellon are first-time recruiters from this campus. Traditional recruiters include Microsoft (17 offers), Goldman Sachs, Salesforce, Intel, Qualcomm and Oracle.

IIT Hyderabad received a total of 37 pre-placement offers (PPOs) this year, almost double that of last year’s figure of 19.

IIT Guwahati

At IIT Guwahati, Day 1 of placements saw 80 offers from Microsoft, Uber, Goldman Sachs, JPMC, IBM, Nutanix, American Express, Quadeye, Oracle, Bajaj Auto, Google, among others.

For Phase I, 250 companies have registered compared to about 200 companies in the whole of last yea. A total of 1,060 students have registered for placements across departments this year.

Prominent first-time companies this year include Quadeye Securities, Analog Device, Atlassian, Accenture Japan, SOU Japan, Squarepoint Capital, Human Resocia, and BNY Mellon.

The institute also expects three public sector firms including Bharat Electronics, GAIL and Power System Operation Corporation (POSOCO) to participate in the campus placements. Among startups, Udaan, NoBroker, Bounce, Meesho, and Groww are participating in the placements.

The institute received a total of 119 pre-placement offers (PPOs) this year compared 100 PPOs last year. Companies like Microsoft, DeShaw, Goldman Sachs, JPMC, Kivi Capital, Texas Instrument, IBM, Uber and Deutsche Bank made these offers.

TG Sitharam, Director, IIT Guwahati, said the number of recruiters coming to campus has seen an upswing this year, which is clearly an indicator of the growing perception about the quality of students graduating from the IITs.

While not all IITs have shared compensation details, institute sources said there has been a 15-20 percent rise in first day packages compared to last year across campuses.

LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.
First Published on Dec 2, 2019 02:46 pm
Loading...
Follow us on
Available On