Companies are set to offer crore plus salary packages to the students in IIT Kharagpur, Mumbai, Guwahati and Roorkee campuses. Read on to get the scoop!
Now that the final placements at the Indian Institutes of Technology (IITs) have commenced, students are all set to get a whopping crore-plus pay package from big companies including Microsoft and Oracle. The US-based companies are planning to forward such packages in four campuses including Mumbai, Guwahati, Kharagpur and Roorkee. For now, the total figure is not yet ascertained, as the companies and IITs are still in the discussion phase.
However, between the two top-notch companies offering high packages, Microsoft is most likely set to offer approximately $106000 (INR 72.5 Lakh) and Oracle might pay marginally lesser than the former.
Some variables including employee stock option plan, relocation cost, joining bonus add up to this salary package reaching around INR 1.2 crore in at least three IITs. The final placements that start today, also known as Day 1, generally have most of the young engineers recruited for both domestic and international positions on the first day itself.
Crore-plus packages are not a rare sight in the IIT campuses, however, they are offered to a fraction of students. Generally, Microsoft, Visa and Oracle are the ones that offer the highest packages in IITs. By this year, Google has no plans to recruit talent on-campus, rather it will hire directly without involving institutes anymore.
This year, most PSUs (after the ban was lifted) and academic institutes are on a hiring spree. IITs have seen a whopping increase in the number of academic institutes visiting the campuses to hire faculty members for their campuses. Last year, start-ups had dominated the recruitment season; however, most of them are missing this time.
Additionally, after demonetization of INR 500 and INR 1000 notes, e-wallet companies like Paytm, MobiKwik plan to hire talent from the IITs and IIMs to strengthen its sales, marketing and business development departments.