IITB Central Library 2.0 Service

Five IIT-Bombay students get Rs 30 lakh-plus job offers

Posted on: December 5, 2013

Source: Times of India, dated:04/12/2013
Close to a fourth of the IIT-Powai campus was placed by Tuesday evening. About 400 offers were made and all were accepted.

Day 3 of placements at the Indian Institute of Technology-Bombay saw the highest international offer from MEC Japan that offered jobs to five students for an annual salary of 5 million yen (around Rs 30 lakh).

Domestic recruiters included power management company Eaton, Intel, Morgan Stanley tech division, Ernst & Young and Cadbury.

By the end of day 2, nearly 331 offers were made, said placement faculty in charge Avijit Chatterjee. “We are doing marginally better than last year,” he said. The late evening slot on Monday saw the highest international offer coming from Epic, a healthcare software firm which offered jobs to 18 graduates from IIT-Bombay, 20 from IIT-Kanpur and 12 students from IIT-Kharagpur. Epic is offering a basic annual salary of $ 90,000 and other allowances pump up the offer to $1,10,000. IdeaS, an American analytics company, hired two students for a base salary of $80,000.

In the case of other software firms, Samsung India and Xerox picked up several students and the average salary in this sector stands at Rs 17 lakh, said a placement committee member. In case of companies from the financial sectors, American Express, Nomura, Axis Securities and Capital One picked up several students from the Powai campus and the average annual salary stood at Rs12.5 lakh.

At IIT-Kharagpur, Flipkart made 26 offers, the highest across any IIT. Among other key recruiters are American Express, Citi Corp Services, Housing, VMWare and Nomura. On day 2, domestic organizations were at the lead at IIT-Kharagpur. Only A Star of Singapore made an international offer to students of the metallurgy department. In all, 71 offers were made by the end of 2nd day with the average salary of Rs20 lakh.

Recruiters took time to choose their future employees. Interviews are on beyond deadlines and many results of day 2 ran into the third day at most IITs. IIT-Madras saw a stream of big companies like Flipkart, Oracle, Tata Motors, Amazon, Cisco, Deloitte, Strand Life Sciences, Freescale Semiconductor and Infosys, with many offering multiple profiles. There were 18 profiles on day 3, said Lt Col (Retd) Jayakumar, deputy registrar (students & placement) at IIT-M.

This year, IIT-M decided to hold placements on the first two days in multiple sessions. On day 1, there were three sessions including a graveyard session between midnight and 6am to match time zones with US firms, while on day 2 there were two sessions in the morning and at midnight. Last year, each day consisted of only one session, which resulted in 55 job offers being forfeited as students received multiple offers, said Jayakumar.

But after day 2, the placement process this year reverted to its normal structure of one session per day which ends at 5pm like last year, placement officials said.

So far, salaries have gone as high as $2,10,000 per annum for international offers and Rs 48,68,000 per annum for domestic offers at IIT-Madras.


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