Newer IITs too see record placements with pay rises, offers from top firms

Average salary at IIT Mandi up 13%, Uber offers highest package of Rs 2 cr at IIT (BHU) Varanasi, while Roorkee bagged highest international CTC of Rs 2.15 cr in first session

While their older counterparts continued to witness international and domestic offers being made on the second day of the final placements process, the newer Indian Institutes of Technology (IITs) too have seen a rise in offers this year.

For instance, IIT Mandi this year has seen average salary rise by 13 per cent, median salary by 16 per cent and maximum salary by nine per cent compared to last year.

Already 137 students have been placed with 102 companies at IIT Mandi with top recruiters including Google, Microsoft, Samsung Bangalore, Adobe, Walmart, Sprinklr, Paytm, Amazon, Indeed, Cashfree, Nference, Flipkart, Mindtickle, Texas Instruments, Nvidia, Qualcomm, Ceremorphic, Addverb, L&T, ZS, Deloitte, Viscadia, Capgemini, KPMG, TCS, Reliance Jio, and LTI, among others.

Job offers at IIT Mandi were made in profiles such as Product Engineer, Research and Development, Software Engineer, Hardware Engineer, Business Analyst, Financial Analyst, Marketing Analyst, GET (Graduate Engineer Trainee), Consulting, Product Management, Data Science, apart from other sectors.

Speaking on the placement process, Dr Tushar Jain, Advisor, Career & Placement Cell, IIT Mandi, said, "The current placement drive at IIT Mandi can be seen as the benchmark drive with respect to the previous years. In this drive, the institute has noticed a significant growth in terms of the number of offers and an increase in participation from the diversified companies."

Moreover, 51 students from IIT Mandi have already got Pre-Placement Offers (PPOs) before the commencement of the actual placement drive, with the institute also receiving seven international offers this year from companies including Accenture, Enjoy LLC, and Weather News, among other recruiters from Japan.

Similarly, joining the likes of IIT Guwahati and IIT Bombay, IIT (BHU) Varanasi too saw the highest package of Rs 2 crore by Uber. In fact, five IIT (BHU) Varanasi students got selected at Uber, of which one bagged an offer in the US office of the firm.

In the first phase of the placements, 55 companies gave 232 offer letters to the students with an average package of 32.89 lakhs per annum and a minimum of Rs 12 lakh.

"For many years, top firms have offered the best pay packages to our graduates and this year is no different with firms like Uber offering packages as high as Rs 2 crore. It is a sheer privilege to know that companies of such stature are identifying the talent at our campus and trusting them to take the baton forward. IITBHU students have always strived hard to drive success wherever they have been placed," said Pramod Kumar Jain, Director IIT (BHU) Varanasi.

Meanwhile, by first half of the second day of placements, IIT Roorkee had seen 42 companies participate including the likes of Accenture, American Express, Dream11 , Flipkart, Fractal Analytics, Groww, Intel Technologies, Mastercard, Media.net, Meesho, PayPal India, Razorpay, Samsung Research Institute Bangalore, Samsung Semiconductor India R&D Center, Vmware, and Zomato Limited, among others.

Earlier on day one, IIT Roorkee had bagged the highest international cost-to-company (CTC) of Rs 2.15 crore ($287,550) during the first session of the final placements process that began at older IITs on Wednesday.

While the highest international salary offer at IIT Roorkee grew by as much as 211 per cent from last year's Rs 69.05 lakh, Dutch firm Optiver had made the highest international offer of 157,000 euros or Rs 1.39 crore per annum at the IIT Bombay last year on Day One.