Microsoft offers fattest pay package of Rs 1.4 crore at IIT Delhi; many get crore plus packages

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• Gold rush on Day-1 at IIT Madras placement

NEW DELHI: Its pouring high paying jobs at several Indian Institute of Technology Centres as first round of final placements kicked off at country’s top engineering schools this Friday. At least seven students from IIT Delhi and Mumbai have bagged job offers with pay packages of over 1 crore per annum, senior placement division officials at these institutes confirmed.

A Computer Science student at IIT Delhi bagged a 1.4 crore offer from software giant Microsoft—highest for any IIT for any year so far- sources at the institutes said adding that three other students from the institute had received CTC packages upward of Rs 1 crore.

A placement division official at IIT Bombay said that three students from the institute had also received pay packages of over 1 crore during first two days.

“The student who has been offered the maximum package so far will join Microsoft’s Redmond, Washington headquarters,” a placement division official at IIT Delhi told this newspaper. “Though it’s still too early and the data is yet to be collated, going by the early signs it looks like it’s going to be a very good placement season,” he added.

He also said that more than 15 top companies participated in the recruitment process on the first day including American Express, NVIDIA, Oracle India and Uber among others.

Sources across IITs said that there was 15-25 per cent rise in total number of companies taking part in the recruitment process in the first phase of final placements, that end mid-December, and there has been a remarkable rise in international offers. After the first round the placements will recommence in January and go on till May, 2018.

Falguni Banerjee, public relations officer at IIT Bombay said that international offers came from Microsoft, Goldman Sachs, P & G, Schlumberger, GE,  Texas Instruments and Uber while a number of big recruiters from India had also lined up to hire students at fat pay packages.

“This year, around 1700 students have registered for the campus placement and we are expecting over 225 companies to participate in the first phase itself. Scene is much better compared to last year,” she said.

Big ticket offers were also received by students at IIT Madras as companies came with 195 offers, including 11 international offers were received by students on the first day. “There was 15 per cent  rise in offers on the first day compared to 2016 when 160 offers were received on the first day of placement,” said an official at IIT Madras. He however did not divulge the highest pay package offered at the institute so far.

Companies that have made more than 10 offers at the institute this year include EXL Services, Goldman Sachs, Microsoft, and Samsung Research Institute Bangalore.

N P Padhy, professor in charge of placement at IIT-Roorkee, too, said that the “response shown by the companies this year has been robust.”

“There are at least 50 more companies in fray which were not there last year. Moreover many more students are receiving international offers,” he said. The first day of placement saw 189 offers being made at the institute including 4 international offers.

At IIT Kharagpur too, several MNCs participated in the recruitment process for the first time including Apple—which offered jobs to five students for its India office.