35% hike in packages offered at IITs this placement season

Contrary to expectations, despite the ongoing pandemic, almost 60 per cent of the students who participated in the placement drives at the older Indian Institutes of Technology (IIT), received placement offers. The final-year students of the IITs have also witnessed a 30 to 35 per cent hike in pay packages offered.

Some of the offers from domestic companies have been much better than that of international companies. Freshers this time may end up earning a lot more by joining domestic firms than their peers who may have accepted international positions.

At IIT-Delhi, on the very first day of the first phase of final placement students received more than 300 placement offers, with some even receiving more than one offer. About 150 pre-pacement offers or PPOs, were also received from international companies.

Otiver, a Dutch company, offered the highest package at IIT Bombay, of Rs 1.39 crore per annum. While IIT Madras received almost 750 offers, IIT Guwahati and IIT Roorkee bagged 700 each, with a record number of over 220 companies registering this year.

At IIT-Kanpur too more than 50 per cent of the graduates have already received offers from domestic as well as foreign companies. Over 215 students have received offers in the range of Rs 11.5 lakh to Rs 64.27 lakh per annum at IIT, Benaras Hindu University, as compared to last year’s compensation, which was in the range of Rs 10 lakh to Rs 58.21 lakh.

Meanwhile, three students of Birsa Institute of Technology (BIT), Sindri, have received job offers of Rs 10.52 lakh per annum from Tata Steel. Seventeen BTech students from the Institute were selected by TCS in October, of which 14 bagged Tata Ninja offers of Rs 7 lakh per annum, whereas three bagged the Tata Digital offer of Rs 3.36 lakh per annum.