1. IIT Kharagpur student gets whopping pay package of Rs 1.5 cr

IIT Kharagpur student gets whopping pay package of Rs 1.5 cr

In one of the fattest pay package offered to an IITian ever in campus placements, a student of IIT Kharagpur...

By: | Kolkata | Updated: December 5, 2014 11:03 AM
IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting companies yesterday on the first day of campus placements. Reuters

IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting companies yesterday on the first day of campus placements. Reuters

In one of the fattest pay package offered to an IITian ever in campus placements, a student of IIT Kharagpur has been offered a whopping annual salary of over Rs 1.5 crore.

IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting companies yesterday on the first day of campus placements.

The highest domestic package was of Rs 42 lakh and highest offer from abroad was of USD 250,000 (Rs 1.54 crore), the officials said.

IIT authorities have refused to disclose details about the student or the company which made the offer, saying “this brings unnecessary attention to the student.”

IIT sources claimed that the 1.54 crore offer is the highest ever package received by the Kharagpur unit and among the largest ever in all IITs.

The highest number of offers (24) was made by niche analytics consulting company EXL Service Pvt Ltd due to growth induced demand, followed by international brands like Visa, Goldman Sachs, Credit Suisse, Cisco, Microsoft IDC.

Analytics, IT and Finance are leading so far.

The first time visitors – Parthenon, TSMC , BMGI, VISA, Baker Hughes, and Auctus Advisors – gave an encouraging response and offered large number of positions to IIT Kharagpur talents.

Professor Sudhirkumar Barai, Chairman of Career Development Center, IIT-Kharagpur, said from this year onwards special emphasis will be given to boost the confidence of the graduating students with the help of corporate workshops, case study contests, alumni mentorship session, assessment tests and soft skill training.

“The preparation has shown an impressive success in terms of day one placement this year at IIT Kharagpur. Further, there has been renewed realisation in Indian industry for highly qualified engineering professionals in Quality Engineering, Product Design and Manufacturing. IIT Kharagpur has been quick to identify this need and accordingly have initiated a programme in this field,” Barai said.

The total offers received so far stands at 251, which includes 88 pre-placement offers.

Meanwhile, as many as 153 students of IIT Kanpur received offer letters for jobs from various companies on the first day of its campus placement drive which began yesterday, with the highest pay package offered so far being nearly Rs 60 lakh.

“So far, no one has received an offer of Rs one crore or above. The salary packages offered so far range between Rs 45 to 60 lakh,” an IIT Kanpur official said.

IIT Kanpur’s placement cell’s chairman Deepu Philip told PTI that 50 companies, including MNCs, Indian private firms and PSUs, have visited the campus for placements and 40 more will be participating in the drive today.

The placement drive will continue till December 24.

Nearly 1,300 students of B Tech, B Tech Dual and M Tech have registered themselves for the placements so far. More students are expected to register for the same, Philip said.

Like in IIT Kharagpur, the maximum number of offers (38) has come from EXL Service Pvt Ltd. Oracle and Tower Research are other two companies which have offered high salary packages to students.

According to IIT Kanpur officials, at least 250 companies including MNC’s and Indian PSU’s have agreed to come to the campus for placements.

MNC’s like Google, Oracle, Mitsubishi, Amazon, City Bank, Microsoft, Samsung, Facebook and other national companies will visit the campus till the last day, they said.

  1. S
    Singh
    Jan 1, 2015 at 10:10 am
    First I would like to congratulate ITTs for doing an excellent job in educating young engineers in India. Maybe I am missing something, but the mentioned ries ($250,000) offered abroad to these fresh graduates seems to be extremely high. I am an engineering professional emplo in the R&D department of a major aerospace company in the US for the last 25 years, and I have yet to see such starting ries for engineers. Typically, average ries for engineers are less than $70,000. My son with a M.S degree in Mechanical Engineering from a top notch American University and five years of industrial experience was recently offered $80,000. Even PhD’s from MIT don’t make $100,000 starting ries. For more information: 1. The College Degrees with Highest Starting ries (:www.forbes/sites/susanadams/2013/01/24/college-degrees-with-the-highest-starting-ries-2/) 2. MIT Facts 2014: Alumi (:web.mit.edu/facts/alum) It may be a good idea for Indian newspapers to check these figures before publishing them.
    Reply
    1. Juhi Sharma
      Dec 2, 2014 at 6:55 pm
      breaking english news :vishwagujarat/en/
      Reply
      1. R
        Ramanan
        Dec 2, 2014 at 3:58 pm
        Do not convert Dollar payment into Rupees.This is normal compensation for bright candidates. Also keep in mind the various taxes that will be deducted if the candidate works in the USA. The message is clear.Suboptimal engineering colleges and their graduates will find hard to get into multinational corporations where merit is the sole factor and not caste.
        Reply
        1. R
          Ramanan
          Dec 2, 2014 at 3:58 pm
          Do not convert Dollar payment into Rupees.This is normal compensation for bright candidates. Also keep in mind the various taxes that will be deducted if the candidate works in the USA. The message is clear.Suboptimal engineering colleges and their graduates will find hard to get into multinational corporations where merit is the sole factor and not caste.
          Reply
          1. N
            Narendra M
            Dec 3, 2014 at 8:36 am
            Obviously, it's a mad, irrational and crazy world there, where remuneration has no relationship with the job content but with the 'capacity' of the employer to pay. Any way, I wish to convey my best wishes to the concerned IIT graduate and to his employer!
            Reply
            1. Sonu Mudaliyar
              Dec 5, 2014 at 3:58 pm
              breaking english news :vishwagujarat/en/
              Reply
              1. S
                Sri Hari
                Dec 3, 2014 at 10:25 am
                There are many non-IIT and Non-IIM graduates who are much much better than these over hyped IIT and IIM graduates. It is another clic example that B always take the cake and eat it too.!!!
                Reply
                1. S
                  Sri Hari
                  Dec 3, 2014 at 10:25 am
                  There are many non-IIT and Non-IIM graduates who are much much better than these over hyped IIT and IIM graduates. It is another clic example that B always take the cake and eat it too.!!!
                  Reply
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