The biggest domestic packages across IITs were higher than those offered in 2019.(HT FILE)
The biggest domestic packages across IITs were higher than those offered in 2019.(HT FILE)

Online IIT placements: Fewer packages from foreign firms

The highest international salary package (1.57 lakh euro or approximately 1.39 crore) was offered by proprietary trading firm Optiver
UPDATED ON DEC 02, 2020 12:48 AM IST

Placements across Indian Institutes of Technology (IITs) kicked off virtually on Tuesday. While the total number of international offers were lower than last year’s figures, the biggest domestic packages across IITs were higher than those offered in 2019.

As per the placement report, for the first half of the day shared by IIT-Bombay (IIT-B), 18 companies offered jobs across sectors and the highest annual package (46.41 lakh) was offered by Qualcomm. Last year, the highest domestic annual package was 32.59 lakh and from Qualcomm. The highest international salary package (1.57 lakh euro or approximately 1.39 crore) was offered by proprietary trading firm Optiver.

At IIT-Roorkee, the annual package for a domestic role saw a rise with 80 lakh being offered, which is more than last year’s offer of 62.2 lakh.

“On day one of placements, a total of 25 companies offered over 272 domestic jobs and three international offers,” said a spokesperson for the institute. While last year, there were 10 international job offers in the first half of the first day, three international job offers were made in the corresponding time this year. In 2018, seven international job offers had been made in this time.

“We were expecting lower international job offers this year [due to the pandemic],” said an IIT-B official, requesting anonymity.

“Some recruiters, however, have assured a one-year stint in India followed by an international stint to a handful of students.” Microsoft, which has offered the highest international packages across IITs three years in a row, had only domestic roles to offer this year.

At IIT-Madras, students received 123 job offers from 22 companies. “The total number of job offers on day one is higher than in any preceding year. Last year, 102 jobs were offered by 20 companies on day one. The highest number of jobs offers were made by Microsoft, Texas Instruments with 19 and 12 jobs respectively, followed by Bajaj Auto and ISRO with 10 jobs each,” said the institute on Tuesday.

Pre-placement offers (PPO) were higher than last year across all IITs. By Tuesday, 153 PPOs were accepted by students of IIT-B. Students at IIT-Madras received 182 PPOs compared to last year’s 170. “We are still expecting more job offers for various profiles over the next few days,” said Prof Vinay Sharma, professor-in-charge, placement and internship, IIT-Roorkee.

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