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Microsoft offers IIT grads ₹70 lakh a year

mumbai Updated: Dec 02, 2016 11:33 IST
Musab Qazi
Musab Qazi
Hindustan Times
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According to sources, pay packages offered by companies like Goldman Sachs ranged from Rs 25 to 30 lakhs, while Blackstone offered around Rs35 lakh. (HT File Photo)

World information technology giant Microsoft and financial services firms, Blackstone and Goldman Sachs, offered some of the highest salary packages during the first slot on the first day of placements at the Indian Institute of Technology Bombay (IIT-B).

The day-time slot, which stretched till 6pm instead of the scheduled 4pm, saw seventeen companies making around 60 job offers, at the time of going to the press. Microsoft selected five candidates and offered jobs based in the US as well as within the country. Sources confirmed that the pay packages offered for the US-based job profiles ranged between Rs70-80 lakh a year but it’s not clear if the amount was only the base salary.

According to sources, pay packages offered by companies like Goldman Sachs ranged from Rs 25 to 30 lakhs, while Blackstone offered around Rs35 lakh. While the former reportedly selected seven students, the latter made two offers.

The first day was dominated by companies from the engineering and financial sector. Most of the companies offered base salaries to the tune of Rs 14-15 lakh, in addition to joining bonuses and other benefits. The ITC group, which is said to have selected three students, offered a package of Rs 17 lakh and Rs 2 lakh as joining bonus. Other notable companies to offer jobs during the first slot include Google, public sector company Oil and Natural Gas Corporation (ONGC) and Procter and Gamble (P&G), which made one, six and three offers, respectively. App-based aggregator Uber, which made its IIT debut this year, was slated for the night slot.

The first phase of placements will go on till December 15 and will be attended by more than 300 companies this year.

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