In what looks like the start of a bumper placement season, the Indian Institutes of Technology (IITs) have recorded a 5-10% jump in salaries at the final placement offers for students at Madras, Roorkee, Kharagpur, Bombay, Delhi, and Guwahati.
The top offer thus far is an annual package of $150,000 (Rs 81.6 lakh) from South Korean multinational conglomerate Samsung at IIT Madras for students in computer science stream and the posting could be in US or S Korea Google follows closely with a $135,000 (Rs 73 lakh) PPO (pre-placement) offer at IIT Kharagpur.
Big recruiters on the first day include Boston Consulting Group; Deutsche Bank Group; Goldman Sachs; ITC, Google, Sony (Japan), Facebook, Morgan Stanley, Microsoft amongst others. Average domestic salaries are in the mid-Rs 20 lakh range on the first day.
IIT Bombay's kitty included 35 companies on the first day with first timers like LinkedIn, Twitter and Blackstone. "Salaries are 5-10% higher than last year and several companies offered international roles including Samsung, Microsoft and Google," said Avijit Chatterjee, prof-in-charge, placements, IIT Bombay.
At IIT Kharagpur, EXL Service, Deutsche Bank, Rio Tinto, Schlumberger, Facebook, Microsoft, Google, Opera Solutions and ITC, were among those who turned up on the first day. Credit Suisse and Indus Insights were among the new names on campus. "The institute has received 100-plus PPOs, of which 73 have been accepted," said SK Barai, professor-in-charge, training & placement, IIT Kharagpur.
Domestic salary for IIT Guwahati on the first day broke last year's record of Rs 20 lakh as a firm has already offered students a paycheck worth Rs 28 lakh. "The highest international salary is $130,000 and we have received 7 international offers from the likes of Facebook and Microsoft, among others," said Natesan Srinivasan, professor-in-charge, training and placements, IIT Guwahati.
IIT Madras is expecting 100 new companies to prowl around their campus despite a slow economy. Some of the first timers include include Rolls-Royce Operations India, Mercedes- Benz Research & Development India, Toshiba Corporation, MyLikes Inc., Walmart Global Technology Services, iGATE Procter & Gamble Hygiene amongst others.