IIT placements: Offers as high as Rs. 1.5cr on Day-1
The prestigious Indian Institutes of Technology (IITs) have kicked off their final placements for 2020-21 session on a positive note despite the COVID-19-induced slowdown. The first day of placements, on December 1, saw international companies and domestic recruiters offering big-ticket salary packages as high as Rs. 1.5 crore and Rs. 80 lakh, respectively, to students at the top IITs. Here are more details.
This time, IITs went completely online with final placements
Interestingly, this is for the first time that the IITs have gone completely online with their final placements due to the COVID-19 situation. According to reports, a 20% rise in the number of placement offers as well as salary packages were seen on the first day. Though placements took place virtually, the number of international offers saw a dip compared to last year's figures.
Rise in domestic job offers, PPOs across IITs
Meanwhile, the domestic job offers at the IITs have witnessed a significant rise in comparison to the previous year's figures. Not only that but the number of pre-placement offers (PPOs) across all IITs was also higher than last year's.
Cohesity offered packages worth Rs. 1.5cr to IIT-Madras students
On the first day, global IT giant Cohesity reportedly emerged as the top-paying recruiter; it offered annual salary packages of $200,000 (approximately Rs. 1.5 crore) to IIT-Madras students for its California offices. IIT-Madras saw record placements on the first day. The institute has received 123 offers from 22 companies on the first day, compared to 102 offered from 20 recruiters on Day-1 last year.
Highest number of job offers made by Microsoft: IIT-Madras
At IIT-Madras, 1,443 students from across different streams of study registered for placements in the 2020-21 academic year. "The total number of job offers on day one is higher than in any preceding year. The highest number of job offers were made by Microsoft, Texas Instruments with 19 and 12 jobs, respectively, followed by Bajaj Auto and ISRO with 10 jobs each," stated IIT-Madras.
At IIT-Bombay, Optiver made international offer of Rs. 1.4cr
At IIT-Bombay, trading giant Optiver has reportedly made lucrative international offers of €157,000 (approximately Rs 1.4 crore) to the students for its Amsterdam and Sydney offices. "On day one of placements, a total of 25 companies offered over 272 domestic jobs and three international offers," said IIT-Bombay's spokesperson. To recall, there were 10 international offers in the first half of Day-1 last year.
Expecting lower international this year: IIT-B official
"We were expecting lower international job offers this year [due to the pandemic]. Some recruiters, however, have assured a one-year stint in India followed by an international stint to a handful of students," an IIT-B official told Hindustan Times, requesting anonymity.
Highest domestic package at IIT-Kanpur stood at Rs. 82 lakh
Meanwhile, IIT-Roorkee said that its students received packages as high as Rs. 80 lakh and a total of 272 offers on Day-1. IIT-Kanpur reported 226 overall placement offers, while the highest domestic package stood at Rs. 82 lakh, which came from Graviton Trading that chose three candidates. Also, IIT-Guwahati so far recorded 113 PPOs and 69 job offers, according to reports.