IITB Central Library 2.0 Service

Big companies clinch multiple placements at IITs

Posted on: December 5, 2013

Source: Times of India

MUMBAI: Post-midnight developments at the premier IIT-Bombay campus, early on Monday, left several students thrilled. High-profile companies not just offered seriously high pay packets, they also went in for bulk hires on campus. A similar situation played out at other IITs in the country as well on the first two days of placements.

Samsung Korea, for one, hired around 14 candidates from IIT-B-the highest so far. Google picked up around 10 students.

Samsung Korea, which made an offer of $135,000 on campus, excluding performance-based incentives, hired 14 candidates for both its US and Korea offices. Last year, it had hired only one candidate.

Google hired three students for its California office and seven for India.

Microsoft recruited nine students at the IIT-B campus placements-five for US and four for India.

As most of these companies made bulk offers, by the end of the first day, the offered totalled around 180, up from last year’s 173. Around 40 offers were made for the first slot of Day Two. The second slot on Day Two will go on till midnight of Monday.

“By the end of the first day, more than 150 unique offers were made. Of these, 75% were for international postings,” said Avijit Chatterjee, professor-in-charge of placements at the institute.

WorldQuant, an investment firm, which made an offer of Rs 38 lakh for a domestic posting, picked four students. Blackstone offered Rs 35 lakh.

In the management consultancy sector, the average gross salary is around Rs 17 lakh.

Deutsche Bank hired 10 students, and Goldman Sach went for 16 from the Powai campus. The average gross salary in the consulting sector was around Rs 12.5 lakh. Boston Consultancy, Mckinsey and Bain picked up maximum students in this sector. In the oil and gas sector, Rs 15 lakh was the average gross salary offered to students.

Oracle, so far the highest payer at the institute, has made an offer of $211,000, out of which $110,000 is the base pay and the rest includes performance-based incentives and other allowances.

Elsewhere, at IIT-Madras, a student bagged the Oracle offer with the same package. Some firms that made bulk offers include Intel Technology with six, Nomura Structured Finance Services with five, Eaton Technologies and Citicorp Services India with 10 each. All the above companies are regular visitors on campus.

At IIT-Kanpur on Sunday, students accepted around 125 offers from 20 companies. On Monday, more than 50 students accepted offers. As many as 225 companies are scheduled to interview students this year compared with 170 last year.

The highest package, so far, at Kharagpur was $125,000. A total of 11 offers have been made by companies for their foreign offices. The highest domestic offer that has been made this time is Rs 36.9 lakh per annum. Among the top companies that have visited the Kharagpur campus and made offers include Google, Goldman Sachs, Credit Suisse, D B Centre, Opera Solutions, Microsoft, IBM, Schlumberger, Shell and SAP.

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