Over 30 IIT students have bagged packages higher than Rs 1 crore

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Over 30 IIT students have bagged packages higher than Rs 1 crore

Despite the pandemic, over 30 Indian Institutes of Technology students have bagged deals with packages higher than Rs 1 crore in campus recruitment this year with Samsung alone rolling out at least 18 such offers at the top engineering colleges in the world.

At three IITs, Bombay, Kanpur, and Delhi, campus insiders, and company officials said, almost all of these crore-plus bundles, which include components such as ESOPs, success incentives, among others, were offered.

This time they have been spread through countries such as South Korea, Japan, Australia, and the Netherlands, relative to previous years when most crore-plus deals were made for US postings. Sony Corporation, Amsterdam-based trade firm Optiver, California-based information management company Cohesity, and OKR (objective and main outcomes) software provider Ally.io are businesses that have extended those offers.

At IIT Bombay, Samsung made seven tenders, six at IIT Kanpur, and five at IIT Delhi, placement cells at the institutes said. One of these offers is provided to students of computer science and electrical engineering divisions for $150,000 (Rs 1.1 crore).

The South Korean electronics major did not respond until press time Tuesday to ET’s email requesting comment.

Seven offers of Rs 1.4 crore each have been made by Optiver at IIT Bombay.

In reality, some of our most talented team members are IIT Bombay alumni,” the company said in an email response, “We were really impressed with the candidates coming from India. “This year, Optiver has made job offers of EUR 157,000 per year to seven IIT Bombay graduates and hopes to further expand our search for talent in India in the future.”

In research and trade positions, Optiver has recruited all IIT Bombay graduates for its Sydney and Amsterdam offices.

In an email response, Cohesity said We do not share that level of detail about our hiring or compensation.” It had previously said it was hiring positions at the IITs for software developers and testing engineers.

Cohesity had made one foreign bid at the university, an IIT Kanpur placement team member said.

IIT Bombay and IIT Kharagpur have received offers from Sony Corporation. In a statement, IIT Bombay had earlier said that the Sony offerings are over Rs 1 crore.

For Sony Corporation (Japan), recruiting new talent has always been the main priority, and India is a significant market with a good talent pool with a plethora of renowned institutions. For about a decade now we have been affiliated with and hiring from some of the biggest IIT organizations, but we refrain from commenting on individual package offers,’ the company said via email.

As of press time Tuesday, Ally.io has not replied to email inquiries.

In a tough year the rise in top domestic packages to new highs, in some cases by 30-35%, has also brought cheer to the institutes. “Many of these roles are global in nature where students work with international teams,” said on condition of anonymity, the placement head at a top IIT.

At IITs such as Roorkee, Guwahati, and Madras, companies such as MTX Group, Quantbox Research, and Graviton have made top offers. For India postings, these firms have brought out deals of Rs 80 lakh. At these campuses, for the first time, they have exceeded the top international deals previously bagged by the students.


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