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Dec 10, 2019-Tuesday



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Tuesday, Dec 10, 2019

Day 1 of IIT-Bombay placements: Microsoft offers ₹1.5-cr package

mumbai Updated: Dec 02, 2019 16:42 IST
Shreya Bhandary and Priyanka Sahoo
Shreya Bhandary and Priyanka Sahoo

Microsoft remained the top payer for the third year in a row at the Indian Institute of Technology, Bombay (IIT-B), on day one of placements on Sunday.

The software giant made offers of pay packages of USD 164,000 a year, roughly converting to ₹1.17 crore. Including components like stock options and joining bonus, the pay package for Microsoft touches the ₹1.5 crore-mark . Last year, too, the firm had offered pay packages of ₹1.5 crore.

Uber slightly lowered its offer at IIT-B this year. In the past two years, the cab-aggregator company had offered pay packages of USD 150,000 (roughly ₹1.05 crore) for positions in the United States. This year, however, the package offered is USD 143,000 (roughly, ₹1.02 crore).

Pay for domestic roles also saw a drop, with the American telecommunication firm Qualcomm making the highest offer so far at ₹32.59 lakh. Last year, US-based equity firm Blackstone was the highest payer with offers up to ₹45 lakh per annum.

“Firms from the core engineering and IT sector were the prominent recruiters on the first day,” said a statement released by IIT-Bombay by the end of day one.

Of all IITs, the placement cell at IIT-Roorkee seemed to witness the best season From 322 jobs offered on the first day in 2018, this year IIT-Roorkee saw a total of 363 jobs being offered.

While the total number of international offers stood at 10 compared to seven last year, the highest package offered stood at ₹1.54 crore this time compared to Rs 1.5 crore last year.

The highest package for a domestic role at IIT-Roorkee stood at ₹62.28 lakh this year, compared to ₹47 lakh that was offered last year at the institute.

At IIT-Madras, a total of 102 offers were made by 20 companies in the first half of day one of placements - including four international offers. “This compares favourably with the preceding academic year when 85 offers were made by 19 companies in the same session,” said Prof Manu Santhanam, advisor, Training and Placement, IIT-M.

IIT Delhi received close to 150 jobs offers, including three international roles in the first half of day one.