IIT-B placements 2016: Salaries nosedive, stock options thin out
In some cases the total salary offered has come down drastically whereas in some cases the offer has gone up or at least remained similar to last year, said a student...mumbai Updated: Dec 14, 2016 09:52 IST
Job offers have been pouring in from various companies in the last couple of weeks at the Indian Institute of Technology-Bombay (IIT-B) and Japanese firms like NEC Corporations, Murata Manufacturing and Yahoo Japan Corporation seem to have hired highest number of students for international job offers this year. However, the total salary package offered by some of these companies this year is lower than last year.
The highest international offer (salary) offered last year was by Japanese firm Rakuten, offering 65 lakh Japanese Yen (JPY) per annum and the same company’s highest package this year stood at 37.20 lakh JPY per annum. An Indian Rupee equals 1.70 JPY.
Similarly, in the domestic front, investment management firm World Quant had offered Rs41.10 lakh cost to company (CTC) last year, while its highest package this year was Rs25.20 lakh.
“The salary packages have varied this year. In some cases the total salary offered has come down drastically whereas in some cases the offer has gone up or at least remained similar to last year,” said a student and added that Works App maintained their highest package offered to an IIT-B student at 60 lakh JPY per annum, similar to last year.
While officials from the placement cell at IIT-B maintained that the institute only considers the base salary component every year, students highlighted that overall packages, especially of international offers have gone down due to the difference in Employee Stock Ownership Plans (ESOPs), bonus, etc. “Students were given better shares of stocks last year as compared to this year. Overall the difference looks very minimal though,” said a member of the placement cell.
Companies like Microsoft, Yahoo and NEC Corporation remained the top recruiters both in 2015 and 2016, with Uber the new entrant and one of the top recruiter this time. The first phase of IIT-B placement, which started on December 1, is set to go on till December 17. After eleven days of interviews, close to 850 of the 1500 registered students have been placed.
Top 3 highest base package
Works app: 60 lakh JPY
Yahoo Japan: 37.52 lakh JPY
Rakuten: 37.20 lakh JPY
Uber: 1.10 lakh USD
Microsoft: 1.06 lakh USD
Oracle: 1 lakh USD
Blackstone: Rs35 lakh
Schlumberger: Rs28 lakh
World Quant: Rs25.20 lakh
First Published: Dec 14, 2016 09:17 IST