An advanced degree is the Holy Grail for engineering students. Some students at each of the country’s many IITs earn placements at prestigious corporations each year with starting salaries in the tens of millions of rupees. Similar to previous years, it will happen again this year. Jobs with yearly salaries in the crores have been given to students at the recently held pre-placement sessions at IITs ranging from Bombay to Delhi and Madras.
There were over a thousand students offered jobs during IIT Bombay’s placement session. To date, 1,224 students have accepted their offers, including those who received pre-placement offers (PPOs). During the IIT Bombay placement, 71 international companies offered positions to students from all over the world, including the United States, Japan, Taiwan, South Korea, the Netherlands, and Singapore. Students declined only a minority of the 71 offers. Twenty-five students accepted job offers with yearly wages greater than Rs 1 crore.
Companies from a wide variety of industries recruited IIT Kharagpur students with starting salaries anywhere from INR 1 crore to INR 2.65 crore. More than 50 IIT Delhi students, 33 IIT Kanpur students, 25 IIT Madras students, 8 IIT Guwahati students, 4 IIT Varanasi students, and 2 IIT Roorkee students all received packages worth more than Rs 1 crore.
According to IIT Madras, 44% of all PPOs have come from the core engineering and R&D industries, followed by 30% from analytics, consulting, and finance, 16% from IT, and 10% from the fast-moving consumer goods industry. In the initial round of placement, 333 PPOs were made.
During phase 1 of campus placements at IIT Hyderabad, a total of 508 offers were made by 144 different organisations. This number included 54 offers from firms outside of the United States. IITH said that more than 700 students have enrolled for assignments across departments this year. In India, salaries range from a maximum of Rs 63.78 lakh to an average of Rs 19.49 lakh.
650 full-time job offers were issued to IIT Delhi students by the end of the first day, with 550 being unique job picks. This included over 250 PPOs, and 50 students landed jobs with CTCs of over Rs 1 crore. This year has also seen a number of maximum package records fall. The biggest compensation awarded yet is Rs 4 crores, which has been offered to three students from IIT Delhi, Bombay, and Kanpur.