Rs 1.5 Cr Package For IIT Grad; Placement Season Opens Big

In one of the fattest pay package offered to an IITian ever in campus placements, a student of IIT Kharagpur has been offered a whopping annual salary of over Rs 1.5 crore.

IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting companies on Monday (1 December) on the first day of campus placements.

The highest domestic package was of Rs 42 lakh and highest offer from abroad was of $250,000 (Rs 1.54 crore), the officials said.

IIT authorities have refused to disclose details about the student or the company which made the offer, saying "this brings unnecessary attention to the student."

IIT sources claimed that the 1.54 crore offer is the highest ever package received by the Kharagpur unit and among the largest ever in all IITs.

The highest number of offers (24) was made by niche analytics consulting company EXL Service Pvt Ltd due to growth induced demand, followed by international brands like Visa, Goldman Sachs, Credit Suisse, Cisco, Microsoft IDC.

Analytics, IT and Finance are leading so far.

The first time visitors - Parthenon, TSMC , BMGI, VISA, Baker Hughes, and Auctus Advisors - gave an encouraging response and offered large number of positions to IIT Kharagpur talents.

Professor Sudhirkumar Barai, Chairman of Career Development Center, IIT-Kharagpur, said from this year onwards special emphasis will be given to boost the confidence of the graduating students with the help of corporate workshops, case study contests, alumni mentorship session, assessment tests and soft skill training.

"The preparation has shown an impressive success in terms of day one placement this year at IIT Kharagpur. Further, there has been renewed realisation in Indian industry for highly qualified engineering professionals in Quality Engineering, Product Design and Manufacturing. IIT Kharagpur has been quick to identify this need and accordingly have initiated a programme in this field," Barai said.

The total offers received so far stands at 251, which includes 88 pre-placement offers.

On Day 1 of placements at IIT Madras, a total of 158 offers were made as compared to 95 offers made on Day 1 last year.  The highest foreign offer was $1,29,500 (Over Rs 80 lakh) and the highest domestic offer was Rs 30 lakh. Goldman Sachs made the most number of offers in the forenoon session and EXL in the afternoon session The attached documents contain the company-wise break-up.

Meanwhile, as many as 153 students of IIT Kanpur received offer letters for jobs from various companies on the first day of its campus placement drive which began yesterday, with the highest pay package offered so far being nearly Rs 60 lakh.

"So far, no one has received an offer of Rs one crore or above. The salary packages offered so far range between Rs 45 to 60 lakh," an IIT Kanpur official said.

IIT Kanpur's placement cell's chairman Deepu Philip told PTI that 50 companies, including MNCs, Indian private firms and PSUs, have visited the campus for placements and 40 more will be participating in the drive today.

The placement drive will continue till December 24.

Nearly 1,300 students of B Tech, B Tech Dual and M Tech have registered themselves for the placements so far. More students are expected to register for the same, Philip said.

Like in IIT Kharagpur, the maximum number of offers (38) has come from EXL Service Pvt Ltd. Oracle and Tower Research are other two companies which have offered high salary packages to students.

According to IIT Kanpur officials, at least 250 companies including MNC's and Indian PSU's have agreed to come to the campus for placements.

MNC's like Google, Oracle, Mitsubishi, Amazon, City Bank, Microsoft, Samsung, Facebook and other national companies will visit the campus till the last day, they said.

At IIT-BHU, Varanasi, the top package from a multinational was Rs 77.5 lakh ($100,000 base salary, $15,000 sign-on bonus and $10,000 relocation and stock options), an over 19% jump over the top offer last year.