Day 1: IIT Guwahati bags highest foreign job offer of Rs 2.4 crore

A total of 25 offers with pay packages in excess of Rs one crore per annum were extended at the end of Session 1.1 on Day One of the recruitment process at IIT Madras

Indian Institute of Technology (IIT) Guwahati bagged the highest international offer of Rs 2.4 crore on Thursday, kicking off the first day of final placements with optimism in a post-pandemic year marked by layoffs and hiring freeze.

The highest international offer at IIT Guwahati was up by 17 per cent over last year’s Rs 2.05 crore, whereas highest domestic offer was Rs 1.1 crore at the close of the day. The placements were underway at some of the leading older IITs.

A total of 25 offers with pay packages in excess of Rs 1 crore per annum were made at the end of Session 1.1 on Day One of the recruitment process at IIT Madras. Its students also received 15 international offers from four companies.

On the other hand, IIT Roorkee bagged the highest international offer of Rs 1.06 crore while the best domestic offer at the institute went up to Rs 1.30 crore. Ten students bagged packages of more than Rs 80 lakh on the first session of day one. Overall, IIT Roorkee recorded six international offers till 2 pm.

IIT Madras also posted a record number of 445 offers at the end of Session 1.1 — including pre-placement offers— up by 10 per cent from last year’s figure of 407.

A total of 1,722 students have registered for placements in the 2022-23 academic year across different streams at IIT Madras. As many as 331 companies registered for the first phase of placements, with the aim of recruiting 722 students.

The top recruiters on Session 1.1 at IIT Madras included the likes of Texas Instruments making 14 offers, Bajaj Auto Ltd and Chetak Tech Ltd together offering 10 jobs, Qualcomm (8), JPMorgan Chase & Co (9), Procter & Gamble (7), Morgan Stanley (6), Graviton (6), McKinsey & Company (5) and Cohesity (5).

At IIT Guwahati, among the top companies were Google, Microsoft, JPMorgan Chase, American Express, Texas Instruments, Uber, Qualcomm, C-DOT, Enphase Energy and Oracle. A total of 168 offers were made by 46 companies across Sessions 1.1 and 1.2 for profiles such as software development engineer, data scientist, quant, core engineer, UX designer, VLSI, vehicle engineer, analyst and product designer. The institute received two international offers at the end of Session 1.2.

In all, 31 companies made 365 (including pre-placement) offers till 1 pm at IIT Roorkee. The companies included the likes of AppDynamics, Bajaj Auto, BCG, Cairn Oil and Gas, Da Vinci Derivatives, Flipkart, Graviton, HiLabs, Infurnia, Intel, JP Morgan, Maverick Derivatives, Microsoft, NHA, NK Securities, Nvidia, ONGC, Oracle, Plutus Research, Qualcomm, Quantbox, SAP Labs, Schlumberger, Sprinklr, Squarepoint, STMicroelectronics, Tata Steel, Texas Instruments, Trilogy and Uber.

Commenting on the placements, Sathyan Subbiah, advisor (placements), IIT Madras, said that while the first day saw some software majors such as Google and Microsoft taking “a bit more conservative” stance, others like Qualcomm did not scale back their offers compared to previous years.

“Moreover, despite the overall hiring scenario being a bit more conservative, international offers were slightly higher than last year,” Subbiah added.

For the 2022-23 academic year, a total of 1,269 students have registered for placements, across streams at IIT Guwahati. Meanwhile, 264 companies, including 78 start-ups, have signed up for phase one of placements. IIT Guwahati’s students have already received 218 pre-placement offers, the highest in the last four years. Most of the offers at the institute so far relate to core engineering, IT, finance and analyst profiles.

Last year on day one, IIT Roorkee had bagged the highest international salary of Rs 2.15 crore whereas Uber made the highest offer of Rs 2.05 crore at IIT Guwahati and IIT Bombay each.

PAY CHECK

• Highest offer at IIT Guwahati up 17% from Rs 2.05 crore on Day 1 last year
• IIT Madras gets 25 offers with packages in excess of Rs 1 crore per annum
• IIT Madras also posted a record 445 offers, up 10% from last year’s 407
• Total offers up 10% at IIT Madras on first session of Day 1
• IIT Roorkee posts highest international offer of Rs 1.06 crore, 6 overseas offers by 2 pm