IIT placements 2017: Microsoft doling out Rs 1 crore-plus offers

IIT placements 2017 Placements at Madras, Delhi, Bombay, Roorkee and Guwahati have seen Rs 1 crore-plus offers being made to students, mostly from tech giant Microsoft Corp, according to media reports and officials of some institutes.

The salary packages include bonuses and stock options. This year’s recruiters included EXL Services, Goldman Sachs, Microsoft, and Samsung Research Institute Bangalore, making 10 offers each. Other employers included Airbus Group India, Flipkart, Oracle and Qualcomm, IIT Madras said.

HIGHLIGHTS OF THE PACKAGES AT OFFER

IIT Madras (IITM) placed 195 students on the first day of placements compared to 160 last year, with 11 students getting international job offers, according a press release. Though the institute did not divulge salary details, a report by The Indian Express said students had received offers of Rs 1.39 crore from Microsoft. The highest salary offered during the 2016-17 placements at the institute was Rs $1,80, 000 (Rs1.15 crore) but the name of the company was not disclosed.

Students of IIT Delhi, too, received offers of over Rs1.4 crore, again from Microsoft, an official in charge of placements said in a Hindustan Times report. At least 20 students at IITD last year received a basic annual pay of $1,00,000 (around Rs 66 lakh) during the first phase of campus placements.

Companies visiting the IITD campus this year included NVIDIA, American Express and Oracle India.

Microsoft’s annual package of Rs1.39 crore turned out to be the highest on the first day of the placement season at IIT Bombay (IITB) on Friday, according to sources at the institute’s placement cells. Microsoft’s will be the highest offer made this year. “Microsoft offered $2,14,600, while Uber offered a student $1,55,000,” they said.

Uber, a new entrant in 2016, was one of the top recruiters then with a $1.10,000 (Rs 70 lakh) offer.

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