IIT students turned millionaires: Huge salaries offered on first day of placement season

It was a good day for several IIT students as the placement season began on Tuesday. International recruiters gave out around 40 offers with salaries that ranged above Rs 66 lakh.

These companies include Oracle, Microsoft, Google, Visa and US-based employment-related search engine Indeed. The base pay of these offers was at least Rs 66 lakh, without including the relocation expenses, joining bonuses and stock options. Including all these, the total packages offered by some companies like Google went as high as Rs 2 crore.

These early indications this year hint at a significant growth both in hiring numbers and salaries offered, especially from domestic companies.
Reportedly, three students at IIT Kanpur have received offers of about Rs 1.4 crore per annum, while the previous record was of Rs 93 lakh per annum.

Facebook, which is a big-ticket recruiter that offers crore-plus packages, did not attend the final placement process because of visa issues, however, it had recruited pan-IIT students from the 2016 batch through the pre-placement route.

Exact salary details are not revealed by IITs because of recent guidelines issued by All-IITs Placement Committee. However, as per some placement sources, WorldQuant took the cake of being the highest paymaster, as it offered around Rs 41 lakh per annum. Goldman Sachs, on the other hand, rolled out around Rs 30 lakh. Oracle India paid somewhere around Rs 18-20 lakh, Google, around Rs 25 lakh and Microsoft, about Rs 21 lakh for Indian roles.

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