Published: Sat, December 02, 2017
Medicine | By Earnest Bishop

10 offer letters for IIT-Madras students in 1st placement round today

10 offer letters for IIT-Madras students in 1st placement round today

Citing a policy decision of IIT Madras, the placement officials have refused to reveal the pay package details.

At IIT Bombay, PPOs (pre-placement offers), or job proposals given to candidates who at companies did internship, in IT segment outnumbered fiscal services PPOs in 2017. Leading technology firm Microsoft offered the highest annual salary package of INR 1.39 crore followed by the app-based taxi aggregator Uber which closely stood second and holding out INR 99.87 lakh per annum.

"Many companies arriving for IT profiles and IT companies are elevating their salary proposals to Rs 25 Lakh each year from Rs 16 Lakh each year to get a seat in early day slots", claimed placement head at IIT Roorkee, NP Padhy, to the media in an interview. As per reports, it is said that Microsoft offered United States dollars 2,14,600 to a student, while Uber was ready with USD 1,55,000.

Previous year (2016-17), IIT Madras saw 27 companies making 160 offers on day one. Last year, 31 start-up companies were blacklisted and banned from the IIT-B placements for withdrawing their job offers. Airbus Group, Bain & Company, Boston Consulting Group, Google, Goldman Sachs, Intel, Microsoft, ONGC, Procter & Gamble, Samsung R&D, Texas Instruments, Tata Steel and Qualcomm were among the major recruiters past year.

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A total of 93 offers were made in first slot.

For past few years, domestic firms have been offering pay packages between ₹20 and ₹35 lakh. IIT Madras received 195 offers by the end of the first day.

Goldman Sachs, Qualcomm, IBM, Microsoft, BCG, Cairn, McKinsey Knowledge Centre & Tata Steel gave the highest number of domestic offers during Day 1 of IIT Bombay placements while the maximum global offers were made by NEC Japan, Microsoft, Optiver, Rubrik & Uber.

At IIT Kharagpur too, several MNCs participated in the recruitment process for the first time including Apple-which offered jobs to five students for its India office.

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