Day 2 of IIT Placements: Rs 50 lakh-plus-CTC trend continues at engineering campuses

The second day of placements at the Indian Institutes of Technology (IITs) saw the trend of salaries above Rs 50 lakh for international offers continuing.

Moneycontrol had reported that on Day 1 of IIT placements, there was a 20 percent increase in the number of offers and salary figures as per initial estimates.

Campus placements at IITs give an indication of the employment market in the country in that particular year. Despite the Coronavirus (COVID-19) pandemic, placement sentiment has been positive at the campuses this year.

At IIT Bombay, 21 international offers made on the first day and the highest numbers of offers were made by Optiver (Netherlands), Honda R&D (Japan), and TSMC (Taiwan Semiconductor Manufacturing Company.

A total of 155 offers were made today. Including PPO and PSU job roles, the sum total stood at 313 offers.

At the end of day one, international offers continued to flow in. Here, Sony Japan offered a package of JPY 1.63 Crore per annum (Rs 1.15 crore approximately).

Similarly, Honda (R&D) Japan offered JPY 82 lakh per annum (Rs 57.8 lakh approximately) and NEC Japan offered JPY 49.24 lakh per annum (Rs 34.7 lakh approximately). Taiwan's manufacturing major TSMC  offered TWD 20.70 lakh per annum (Rs 53.5 lakh approximately).

In slot 1.1 at IIT Bombay, Optiver had offered a package of Euro 1.57 lakh (Rs 1.38 crore approximately) per annum.

On day two in slot 2.1, a total of 16 companies made 64 plus job offers in various sectors. Here, the prominent international offers were made by Sysmex Corporation (Japan). For the domestic jobs, highest numbers of offers were made by Oracle, American express & Bajaj Auto.

At IIT Roorkee, as of 2pm on December 2, there were 35 companies in three slots for placements.

This includes companies like American Express, Applied Materials, Cisco Systems India, Dream11, Jaguar Land Rover India, JioSaavn Media, JP Morgan, Nvidia Graphics, Paypal, Razorpay Software, Samsung Semiconductor India Research Center Bengaluru and Wells Fargo International Solutions among others.

There were 395 offers including pre-placement offers. Compensation details for Day 2 were not shared by the institute. However, on the first day the highest domestic compensation (CTC) stood at Rs 80 lakh as of 2pm on December 1 compared to Rs 60 lakh in the year-ago period.

Placements have gone virtual across these engineering campuses due to the Coronavirus outbreak. Interviews are being held online for all the candidates.