Gurgaoan: The placement season at the Indian Institutes of Technology began with hopeful signals after a relative lull in the last four years due to the global economic slowdown.
Facebook offers IIT graduates over Rs 1.55 crores package
The most spectacular offer, however, came from social networking giant Facebook, who signed up students from two IITs for a whopping Rs 1.55 crores. Economic Times reports that the offer was made to three students at IIT Kharagpur, and a few students at IIT Bombay. Reports state that the salary offers from Facebook include a posting in California, US, along with costs for relocation and bonuses and other perquisites. This is also perhaps the highest pay package offered in many years across the IITs.
The other top employers from IITs also made large offers to students, which include Samsung (Rs 93 lakh), Microsoft (Rs 80 lakh), Oracle (Rs 78 lakh plus Esops), Google ((Rs 78 lakh), Visa (Rs 87 lakh), and others.
The highest offer received by a student at IIT-BHU (Varanasi) was Rs 77.5 lakhs, which includes base salary, bonuses and stock options. This figure is an increase of almost 19% over the highest offered salary last year. The same increase at IIT Kanpur was even higher, with 36% from $110,000 last year to $150,000 this time.
The companies are also reporting a greater number of international placements this year. Oracle is hiring for 15 international positions this year, an increase of 2 from last year. Cisco and Visa have also started to offer international positions for the first time across IITs. A source at IIT said that international placements can increase this year by as much as 30%.
At placement sessions in IIT Bombay, some core engineering companies were moved up to premium slots on the demands of students. This move made companies like General Electric, Airbus, Qualcomm, and others, compete with other popular recruiters for the first time.
Placement seasons at the IITs generally continue till April, but most offers are made in the first few weeks of the season.