Average salary jumps 50% at IIT Mandi; Microsoft emerges top recruiter

Average salary has jumped 50 per cent at the Indian Institute of Technology (IIT) Mandi even as Microsoft emerged as the top recruiter with 11 offers in the first phase of final placements this year.

As compared to 108 offers in the first phase last year, the relatively newer IIT has seen the same climb to 112 offers this year with a total 75 companies registering in the first phase. The institute held its first phase of final placements between October 18 and November 15 this year as newer IITs hold the process earlier than their older peers.

Of the total 112 offers, around 34 were pre-placement offers (PPOs) received by students including five international PPOs. In all, 123 students have registered this year for placements at IIT Mandi. The total number of companies that gave PPOs during 2019-20 was 13 compared to 10 in 2018-19.

IIT Mandi recorded the highest number of placement offers till date compared with the preceding years. Top recruiters at IIT Mandi included the likes of Microsoft, Amazon, Goldman Sachs, DEShaw,  Razorpay, Oyo Rooms, Publicis Sapients, 1mg, BOSCH, Works Application, Toppr, Samsung Delhi, Mathworks, Marvell Semiconductors, OLX People, and L&T, among others. Of these, first time recruiters included Marvell Semiconductor, Service Now, Sprinklr, Razorpay, 1mg, and GMO Research, among others at IIT Mandi.

"This year IIT Mandi had 75 companies registered compared to 45 last year. IIT Mandi also witnessed a 100 percent increase in the number of PPOs offered to 34 as compared to 17 last year. We had 4 jobs/company-visits for our students compared to 2.4 jobs/ company-visit last year," said Varun Dutt, Faculty Advisor, Career and Placement Cell, IIT Mandi.

Meanwhile, at the older IITs that saw the final placements process begin on Sunday, December 1, bulk of the marquee recruiters visited in the first three days with more expected to come in the first phase. The second phase of the final placements will take place in January 2020.

At IIT Madras, total offers in the first phase has already crossed 500 in addition to 166 PPOs, taking the tally to over 660 offers. The institute has so far received 28 international offers, of which 17 have come from Microsoft alone. Other top recruiters who made more than 10 offers at IIT Madras so far include American Express, HSBC, Goldman Sachs, Intel, Micron (30 offers – highest), Bajaj Auto, Samsung R&D Bangalore, Mastercard, Flipkart, Ernst & Young India, and Citi.

This year Microsoft has made the highest international offer of $164000 or Rs 1.17 crore to select number of students at several IITs. Leading sectors at IIT Madras so far have been Core and R&D, Analytics/Consulting/Finance, IT, and FMCG.