3 IITians get Rs 4 crore-plus package on first day of placements: Report

The placement season of the Indian Institutes of Technology (IITs) started on December 1. At least three students from IITs of Delhi, Kanpur and Bombay have reportedly received an annual package of over Rs 4 crore, according to a report by the Economic Times (ET). Twenty-five students in IIT Madras bagged an annual package of over Rs 1 crore.

The candidates who got an offer for over Rs 4 crore were offered an international posting by the trading firm Jane Street. Last year, the highest package of Rs 2.16 crore was offered by cab aggregator Uber.

ET further said that most international and top offers land on the first day at IITs.

At IIT Madras, 15 students got international offers from companies like Rubrik, Cohesity and Optiver. The students of IIT Roorkee bagged six international offers with the highest at Rs 1.06 crore.

“Overall, we expect placements to be good by the end of the season, which is May 2023. While some sectors may not be doing well currently, other sectors that are performing well are likely to compensate for reduced hiring in the affected sectors,” Anishya Obhrai Madan, head, of the office of career services at IIT Delhi, told ET.

IIT Guwahati received 139 offers with the highest international offer being Rs 2.4 crore.

Several tech companies in 2022 have slowed down hiring and some have even laid off employees amid fears of recession. Media reports earlier suggested that this year, the placement offers are expected to be lower than in previous years due to the slowdown. The candidates are expected to get fewer offers for software roles.