IIT-K students bag $210,000 pay package

New Delhi: Engineering graduates from the Indian Institutes of Technology (IITs) have been getting extremely lucrative job offers from MNCs as well as Indian companies despite the poor state of the economy. The number of companies visiting IIT campuses has gone up this year and several graduates have landed jobs with pay packages of several lakh rupees.

The highest pay package is as high as $210,000 per annum, which has been offered to three students of IIT-Kanpur by Oracle US, confirmed sources in the placement team.

Earlier, there were reports that two of them had declined the offer given by the Oracle US and instead took the Job at Google, but sources confirm that none of the students declined any such offer.

The highest domestic package at IIT-Kanpur is Rs 40 lakh per annum, which has been offered to three Computer Science graduates, according to sources. However, they declined to divulge any information about the company's name.

Meanwhile, amidst the good news a few students have been left disappointed as they were eyeing Facebook. However, the social networking firm is not visiting the campuses this year, placement co-ordinators said. Facebook had offered lucrative packages to students in the last few years.

Though, a student of IIT-Bombay managed to get a pre-placements offer (PPO) from Facebook.

Flipkart has picked 36 students while EXL Services has offered jobs to 34 students. At least 250 IIT-K students had accepted the job offers till now.

Google USA, Orcale USA, Linkedin USA, InMobi, EXL Services, Flipkart, Mitsubishi Japan and Sony Japan are some of the companies amongst others which are participating in the placement drive at IIT-Kanpur.

Over 80 companies have visited IIT-Kanpur till day 5th of the placements and a total of 250 domestic and international companies will participate while in IIT-Bombay 230 companies will visit the college.

The number of startups participating in the placement drive has also increased. "Many startups have requested to participate in the placement drive and students are also willing to join them. The packages they are offering are competitive and even some start-ups are paying higher than many big companies," said IIT-Bombay Assistant Placement officer SK Mehta.

To meet the demand of companies and with the large number of participants, IIT-Bombay college is conducting the interview at a separate 10 storey building for the first time. "We are using 10 storey building for conducting placement drive. More than 170 rooms are being used for the interviews," said Mehta. The placement interview generally goes on till 2 am in the initial days.

In four days, 123 domestic and international companies have participated and made 495 job offers. Samsung has picked 42 students, Goldman Sachs 16 students, Microsoft offered jobs to 9 students, ITC to 7 students, Microsoft Taiwan Semiconductor Manufacturing Conductor to 18 students, US-based Epic to 18 students.

First phase of placements at IITs have started on December 1 and will continue till December last second week. The number of companies visiting the campuses is between 200 and 250 in the top IITs.