IIT-Bombay placements: Day 1 sees Microsoft offer Rs 1.39 crore a year, Uber Rs 99.87 lakh
The first session brought 52 job offers from 17 companies, with eight offers from Goldman Sachs, seven from Boston Consulting Groupmumbai Updated: Dec 02, 2017 17:29 IST
Microsoft’s annual package of Rs1.39 crore turned out to be the highest on the first day of the placement season at Indian Institute of Technology, Bombay (IIT-B) on Friday. App-based taxi aggregator Uber came a close second with an offer of Rs99.87 lakh a year.
Microsoft’s will be the highest offer made this year, said sources
“Microsoft offered $2,14,600, while Uber offered a student $1,55,000,” said a source from the placement department of IIT-B.
The first session of interviews started at 8am on Friday and lasted till 4pm. The second session, which started in the evening, went on till 2am on Saturday. The first session brought 52 job offers from 17 companies, with eight offers from Goldman Sachs, seven from consulting firm Boston Consulting Group. Consulting firm Strategy& (earlier known as booz&co) and Texas Instruments Inc offered five jobs each in the first slot. Other companies that came up with offers were Morgan Stanley (Investment Banking), Deutsche Bank, Procter & Gamble, Millennium and the ITC Group.
The first phase of placements at IIT-B will last for two weeks and will be attended by more than 250 companies this year. IIT-B will see participation of 15 Japanese firms. At around 50 lakh Japanese Yens per year, Sony is expected to make the biggest offer for a Japanese company. TEX E.G., Murata and Toyo Engineering is likely to offer gross annual salaries in the range of around 27 lakh-36 lakh Japanese Yens.
IITs across the country have noticed a considerable hike in the number of offers coming in during the first session on the first day of placements.
A spokesperson of the placement department at IIT-Madras said, “We got a total of 99 offers from 17 companies. These included nine international offers from companies namely Microsoft, Uber, Rubrik and Indeed. Students at IIT-Roorkee received 68 offers from 11 companies in the first slot on Friday.”
At the time of going to press, most IITs had not compiled information from the second slot.
No preferential slots for start-ups at IIT-B placements
Not a single start-up hired students in the first session on Day 1 of placements at Indian Institute of Technology, Bombay (IIT-B) on Friday, which was dominated by companies from consultancy, finance, software and engineering sectors
Students are said to be wary of joining start-ups, as many of them had withdrawn the job offers made in 2015. “As students are wary, we have not allotted them any preferential slots,” said the source
Last year, IITs had ‘blacklisted’ and banned 31 start-ups from campus placements for withdrawing their offers. The ban was revoked earlier this year, allowing the companies to participate in the recruitment process.
IIT-B considers various factors such as students’ preference, job profile and salary, while deciding the roster of companies on the first day of the placements.
Placements are conducted in two slots a day
Once placed, students are required to secure their job the same day.
The source said while the number of start-ups participating in the process will be more compared to last year, it has dropped compared to 2015