IIT placements: Sony Japan offers Rs 1.14 crore package at IIT Bombay

After Dutch firm Optiver extended the highest international offer of Rs 1.39 crore in the first slot of day one of placements at the Indian Institute of Technology (IIT) Bombay, now Sony Japan has made an offer of Rs 1.14 crore per annum.

Visiting IIT Bombay in the second slot of first day of the first phase of final placements at IIT Bombay, Sony Japan extended international offer of 16.3 million Japanese Yen (JPY) per annum or Rs 1.14 crore. Following Sony was Honda (R&D) Japan with 8.2 million JPY/annum or Rs 57.85 lakh, NEC Japan with 4.924 million JPY/annum or Rs 34.73 lakh and Taiwan Semiconductor Manufacturing Company (TSMC) with an offer of 2.07 million Taiwan New Dollar (TWD) per annum or Rs 53.52 lakh.

IITs usually conduct phase one of the final placements process in the first few days of December, followed by the second phase in January.

Earlier in the first slot of first day of the process, Optiver had made the highest international offer of Euros 157,000 or Rs 1.39 crore. Compared to this, last year Microsoft had extended the highest international offer of $164000 or Rs 1.17 crore at the prevailing exchange rates.

In terms of international offers, while American and European recruiters took the lead, their Far Eastern counterparts were close behind at IIT campuses, hiring in decent numbers in the first two days of the recruitment drive.

For instance, apart from Japanese firms Sony, Honda, NEC and TSMC from Taiwan, Japan’s Sysmex Corporation also made international offers at IIT Bombay, while Accenture Japan extended jobs at IIT Guwahati in the first two days of placements.  On the other hand, IIT Roorkee, which saw 35 companies participate in the first half of day two of final placements, had participation from Samsung Research Institute Bangalore and Samsung Semiconductor India Research Center Bangalore, among others.  

So far, IIT Roorkee has seen 395 offers being made by second day, with participation from other marquee recruiters like American Express, Cisco Systems India Private Ltd., Dream11, Jaguar Land Rover India, JP Morgan, nVidia Graphics, Razorpay Software Private Limited, Societe Generale, VMware, Wells Fargo International Solutions Private Limited, and Paypal, among others.

IIT Guwahati has also seen 175 offers, including four international offers, being extended till the second day of placements with average salary packages ranging between Rs 20 lakh and Rs 30 lakh, according to institute sources.

At IIT Delhi, over 300 national and international firms offering more than 500 job profiles across multiple sectors have registered this year.

By the end of the first day of first phase of final placements, IIT Delhi students bagged over 300 placement offers including pre-placement offers (PPOs) with many bagging multiple offers. Around 150 PPOs (including international locations) have been received so far even as 13 students have opted for the deferred placements facility of the institute. Deferred placements facility is available to students who wish to set up their own venture post graduation. Students availing of this option can avail of placement services once for up to 2 years.

Top recruiters on the IIT Delhi campus on day one included Microsoft, Intel, Goldman Sachs.

“A few international recruiters have also registered like past years. Further, given the current situation with travel restrictions in many countries, many companies are primarily recruiting for domestic profiles as of now. These may convert to international offers if the situation changes,” IIT Delhi’s Office of Career Services (OCS) said.