It’s happy hours at IITs as hiring season kicks off
It is happy hours at the Indian Institutes of Technology (IITs): job offers have improved, increased and are coming with better pay packages.
Sixteen of the 23 IITs, the premier technology institutes in the country, started their campus placement process on December 1.
Salary packages across all older IITs have gone up by 10% to 12%, while the number of offers are 12% more than last year, said professor Kaustubha Mohanty, convener of the All IIT Placement Committee, the panel responsible for campus hiring at all IITs.
“While the number of offers per company has gone down this year, the total number of companies that have registered for placements this year, have has gone up across IITs. Salary packages being offered by these companies too have gone up,” Mohanty said.
At the end of day two of the placements, several graduates across the older IITs have received international offers of ₹90 lakh and more, though most IIT officials refused to disclose exact salary packages.
Microsoft, Uber and Oracle made one international offer each, at IIT Madras. Oracle US also made the highest offer at IIT Guwahati, of $136,000 per annum (₹92.8 lakh).
IIT Guwahati has received 138 offers in day 1 with Tower Research making a domestic peak offer of ₹36 lakh.
Data analytics firm FICO issued 15 job offers of ₹13 lakh each to IIT Guwahati graduates on day two. IIT Kharagpur bagged 307 offers including pre-placement offers on day one, with EXL Services rolling out 18 offers.
IIT Madras concluded day 1 with 134 domestic offers, including 29 from Intel.
“So far, graduates have been offered software development and research and development roles,” said professor Manu Santhanam, advisor, training and placement, IIT Madras. “We are expecting diverse job roles, with a good line up of companies and non-computer science graduates appearing for placements coming days.”