IIT placements 2019-20: Students receive record number of Rs 30 lakh-Rs 1 crore offers

The placement season at IITs began from December 1 this year. Students have received record salary offers from companies like Google, JP Morgan, Goldman Sach, etc in just two days.

The ongoing placement season at IITs is witnessing record salary offers from topnotch firms like Google, Goldman Sachs, JP Morgan, Microsoft, Uber, and Salesforce. Students have received a record number of offers with annual pay packages of Rs 30 lakh and more-going up to Rs 1 crore and beyond, in just two days of recruitment. Students have been offered roles in various profiles in India and overseas.

According to placement cells at the top IITs, including Delhi, Roorkee, Bombay, and Kharagpur, “Rs 30 lakh seems to be an unofficial threshold for top offers this year, up from Rs 25 lakh last year. Companies are offering higher salaries across the board for the Class of 2020.”

IITs attribute this rise in salaries to a greater number of international offers and an increase in domestic pay packets, reflecting a battle for tech talent at premier engineering schools. Google, JP Morgan, Graviton, Squarepoint Capital, Wells Fargo, SAP Labs, Qualcomm, Goldman Sachs, Dream11, Directi among others are offering over Rs 30 lakh per year for domestic roles.

“This year, we are seeing a new set of recruiters offering such high packages,” said an IIT Bombay placement cell official. They booked early slots to get the cream of the talent and were ready to offer higher salaries.

“At least 60 per cent of companies have revised compensation upwards. The number of companies offering a pay package of over Rs 30 crore should be significantly higher this year,” said an IIT Kanpur placement cell official.

There is a 20 per cent increase in Rs 30 lakh-plus offers from last year at Delhi and Bombay IITs. The schools had seen a similar increase last year in offers of Rs 25 lakh per year and above by companies such as Salesforce, Sprinklr, Samsung, Cisco, Amazon, and Flipkart.

Read More:

• IIT Guwahati receives 302 placement offers in two days
• IIT Hyderabad Placements 2019-20: Students bagged 53 offers at the end of first slot
• IIT Roorkee placements 2019-20: 3 students grab 1.54 crore package from US firm, highest ever