IIT placements 2017: Microsoft on hiring spree with Rs 1 crore-plus offers
Students at IIT Madras, Delhi, Bombay, Roorkee and Guwahati have been offered Rs 1 crore-plus salaries during this year’s placementseducation Updated: Dec 04, 2017 20:34 IST
Placements at the Indian Institutes of Technology (IITs) at Madras, Delhi, Bombay, Roorkee and Guwahati have seen Rs 1 crore-plus offers being made to students, mostly from tech giant Microsoft Corp, according to media reports and officials of some institutes.
The salary packages include bonuses and stock options.
IIT Madras (IITM) placed 195 students on the first day of placements compared to 160 last year, with 11 students getting international job offers, according a press release. Though the institute did not divulge salary details, a report by The Indian Express said students had received offers of Rs 1.39 crore from Microsoft. The highest salary offered during the 2016-17 placements at the institute was Rs $1,80, 000 (Rs1.15 crore) but the name of the company was not disclosed.
This year’s recruiters included EXL Services, Goldman Sachs, Microsoft, and Samsung Research Institute Bangalore, making 10 offers each. Other employers included Airbus Group India, Flipkart, Oracle and Qualcomm, IIT Madras said.
Students of IIT Delhi, too, received offers of over Rs1.4 crore, again from Microsoft, an official in charge of placements said in a Hindustan Times report. At least 20 students at IITD last year received a basic annual pay of $1,00,000 (around Rs 66 lakh) during the first phase of campus placements.
Companies visiting the IITD campus this year included NVIDIA, American Express and Oracle India.
Microsoft’s annual package of Rs1.39 crore turned out to be the highest on the first day of the placement season at IIT Bombay (IITB) on Friday, according to sources at the institute’s placement cells. Microsoft’s will be the highest offer made this year. “Microsoft offered $2,14,600, while Uber offered a student $1,55,000,” they said.
Uber, a new entrant in 2016, was one of the top recruiters then with a $1.10,000 (Rs 70 lakh) offer.
In an emailed response, a Microsoft spokesperson said the company did not have anything to share on the matter.
Three engineering students of IIT Roorkee (IITR) were also offered Rs1.39 crore annual salary packages this year by Microsoft, the highest in the history of the institute, a Hindustan Times report quoting placement sources said.
Among the leading global MNCs coming to IITR were Uber, Goldman Sachs, Schlumberger and WebStaff. Top Indian companies such as ONGC and Indian Space Research Organisation were also among 50-odd companies and start-up ventures offering hefty packages to IIT Roorkee students, said Prof NP Padhy, the placement in-charge, in a report in the Hindustan Times
Salaries offered ranged between Rs 20 lakh to Rs1 crore, with best offers being made to computer science, electrical, mechanical, civil, chemical and electronics and communication engineering students, the report quoted placement sources as saying. Also, attractive packages and perks were offered to students of production and industrial engineering, master of computer applications, applied mathematics, geophysical technology, applied geology and geological technology.
Sources at IIT Guwahati too reported that Microsoft had made offers of above Rs 1 crore per annum to its students.
It should be noted that salaries exceeding the Rs1crore mark are in most cases for international jobs, which, when compared to cost of living expenses in those countries are not a substantial amount.
Inputs from A Mariyam Alavi, Sandeep Rawat, Musab Qazi and agencies