According to the media reports and officials-in-charge of placements in some of the IITs, Microsoft has been offering salaries more than Rs 1 crore to some of the students at the Indian Institutes of Technology (IITs) at Madras, Delhi, Bombay, Roorkee, and Guwahati. This annual salary packages also included bonuses and stock options.
According to a press release, on the first day of placements, IIT Madras placed 195 students with 11 of them getting job offers from international companies. Students have received offers from Microsoft at an annual package of Rs 1.39 crore. This is way higher than the annual package that was offered at IIT Madras last year, with an annual package of $1,80,000 (Rs 1.15 crore). The name of the company that offered the highest package last year has not been disclosed. Other recruiters at IIT Madras included EXL Services, Goldman Sachs,Samsung Research Institute Bangalore, Airbus Group India, Flipkart, Oracle and Qualcomm.
The same was the case with the student at IIT Delhi, with offers from Microsoft reaching as high as Rs 1.4 crore. Other companies to visit the campus for recruitments include NVIDIA, American Express, and Oracle India.
The similar trend was seen at IIT Bombay too. According to sources at the institute’s placement cell, Microsoft offered an annual package of Rs 1.39 crore and this will be the highest offer made by a company. “Microsoft offered $2,14,600, while Uber offered a student $1,55,000,” they said.
According to sources, three students at IIT Roorkee were also offered an annual package of Rs 1.39 crore. Other leading MNCs to visit the campus for recruitments were Uber, Goldman Sachs, Schlumberger and WebStaff. Top Indian companies such as ONGC and Indian Space Research Organisation were also among 50-odd companies and start-up ventures offering hefty packages to students at IITR. The salaries offered to the students at IITR ranged anywhere between Rs 20 lakh to Rs 1 crore, with the best offers being made to the students of computer science, electrical, mechanical, civil, chemical and electronics and communication engineering.
The students at IIT Guwahati were also offered an annual package of more than Rs 1 crore by Microsoft.