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At 1.39 crore, is this IITs' highest job offer this year?

By Vinay Umarji
December 03, 2020 08:58 IST
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The likes of Microsoft and Cohesity have offered crore plus salaries to some students.
Vinay Umarji reports.

Photograph: Cheryl Ravelo/Reuters

IMAGE: Kindly note that this image has only been used for representational purposes. Photograph: Cheryl Ravelo/Reuters
 

Dutch firm Optiver has made the highest international offer of 1.57 lakh euros or Rs 1.39 crore per annum at the Indian Institute of Technology Bombay even as the premier institutes kicked off their final placements process on Tuesday, December 1.

Apart from Optiver, IIT Bombay saw highest domestic salaries being offered on the first day of placements by Qualcomm (Rs 46.41 lakhs/annum), WorldQuant (Rs 39.70 lakhs/annum), Morgan Stanley (Rs 37.25 lakhs/annum) and Uber (Rs 35.38 lakhs/annum), respectively.

In terms of number of offers, Microsoft, Google, Texas Instruments, Qualcomm, Boston Consulting Group and Apple were among the top recruiters across some of the major IITs including Bombay and Madras.

Participating in the first session of day one, Microsoft extended 19 offers, followed by Texas Instruments (12), Bajaj Auto (10), ISRO (10), Alphonso Inc (9) and Qualcomm (8) at IIT Madras.

While the IITs are mum on the international salary packages offered this year, sources said that the likes of Microsoft and Cohesity too have offered crore plus salaries to some students.

By first session of day one itself, IIT Madras saw a 20 per cent jump in total number of offers extended by 22 recruiters at 123 this year, up from 102 last year.

Both the sessions included on the first day of placements, total 46 recruiters were lined up for participation covering 91 job profiles.

At IIT Roorkee, the first slot till Tuesday afternoon saw 25 companies make 119 offers with the highest domestic salary rising by 33.3 per cent to Rs 80 lakhs so far, up from Rs 60 lakhs last year.

IIT Roorkee also saw three international offers though the salary details were not disclosed for the same.

This year, IIT Roorkee also saw a 10 per cent increase in pre-placement offers (PPO) at 153 as compared to 139 last year. Including PPOs, total offers in the first two slots till Tuesday afternoon stood at 272.

Marquee recruiters from IT, consulting, automobile and core domains extended offers including the likes of Amazon, Cohesity, Microsoft, Oracle, Qualcomm, Flipkart, Goldman Sachs, Intel, Jaguar Land Rover, JPMorgan Chase, SAP Labs, Texas Instruments, Uber and Vedanta Limited (Cairn Oil & Gas), among others.

On the other hand, IIT Guwahati had attracted 69 offers by first session of day one with marquee recruiters like Google, Microsoft, Goldman Sachs, Qualcomm, Texas Instruments, Adobe, Quadaye, Oracle, Walmart, Bajaj, American Express, Uber, Accenture Japan, and MTX, among others participating in the recruitment drive.

Job offers in profiles such as Software Development Engineer, Member Technical staff, Hardware, Machine learning, Data Science, Business Analyst, Quant, Core Engineering (Automobile), Analyst, Product designer, and Graphic designer, among others were made at IIT Guwahati, even as placements were still in progress for the day.

A total of 1,443 students have registered for placements in the 2020-2021 academic year at IIT Madras with total 256 companies registering for first phase of placements.

The registered companies have committed to recruit for a total of 472 profiles. Moreover, as many as 71 start-ups have registered for recruitment in the ongoing academic year 2020-2021.

Before the final placements process began on Tuesday, several IITs have also attracted pre-placement offers from recruiters after successful stint by their students during summer internships.

This year, while IIT Bombay has so far seen 153 PPOs being accepted by students, which is higher than last year, IIT Guwahati saw 133 students bagging PPOs.

Meanwhile, IIT Madras attracted 182 PPOs till November 28, 2020, compared with 170 PPOs made during the entire preceding academic year of 2019-2020.

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Vinay Umarji
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