Salary packages, overseas offers soar at IITs

Both IITs of Roorkee (pictured) and Kanpur have already placed over 400 students in the first three-four days of placements
Annual compensation packages, led by Microsoft's offer of $214,600 (Rs 1.39 crore), and overseas offers have risen substantially over a year during final placements at the Indian Institutes of Technology (IITs).

Apart from Microsoft, which offered more than Rs 1 crore for an overseas job, companies such as Yahoo! Japan and NEC Japan made offers of over 4.7 million yen (or Rs 27 lakh) and 4.57 million yen (Rs 26.15) at IIT-Bombay.

Some of the highest domestic packages this year were Rs 45 lakh by Blackstone, Worldquant's Rs 39.60 lakh and Rs 39 lakh by Microsoft.

According to sources, the premier institutes have seen one of the best tallies in recent years when it comes to international offers. In addition, non-US postings have also seen a steady rise.

For instance, while IIT-Roorkee bagged 13 international offers and IIT-Kanpur around 10, both have bettered their tally against last year, with majority of these coming from other Asian countries such as Japan, South Korea and Singapore.

“There is no deliberate attempt to attract these offers but the same have risen and it is a welcome change for us,” said Syam Nair, chairman of the students' placement office at IIT-Kanpur.

Both Roorkee and Kanpur have already placed over 400 students in the first three-four days of the placement process.

At IIT-Bombay, the first three days saw a total of 47 international offers and the overall count was 60, including pre-placement offers (PPOs), against 50 last year. According to the institute, international offers for the first three days have gone up this year by almost 20 per cent because of the increase in the number of US offers and the increased participation of Japanese firms.

Institutes such as IIT-Madras and IIT-Kharagpur, too, have seen a similar trend, with the former registering 22 overseas offers and the latter around 30.  

Overseas offers this year have been led by Microsoft's Redmond headquarters for the US, apart from Taiwan Semiconductor, and Japan-based Mercari, NEC Japan as well as Murata and Sysmex. Samsung, too, has made offers for South Korea postings at some of the older IITs.

Companies such as Goldman Sachs, Qualcomm, IBM, Microsoft, BCG, McKinsey Knowledge Centre, Tata Steel, Intel, Samsung Research Institute and Oracle India made the maximum offers. 

Meanwhile, as against 122 recruiters in the first four days last year, IIT-Madras has so far seen 144 companies make 540 offers this year against 493 offers last year. At IIT-Bombay, the total tally of offers has been more than 430 for the first three days.

The first four days at IIT-Roorkee, on the other hand, has seen 546 offers by 111 firms this year, against 434 by 99 firms last year. Around 13 international offers were made, led by nine by Mercari for Japan, three from Microsoft for US, and one by Webstaff for Japan. Last year, the number stood at 12.