A Delhi-based IIT-Kanpur student has recently nabbed a phenomenal salary package as high as Rs 1.5 cr per annum from technology conglomerate Microsoft. This is touted to be the highest salary package offered to a student of IIT-Kanpur till date.
As per a report by the TOI, the newly hired will work on designing a software, implement it and fix the bugs. The company has offered the position at it’s headquarters based in Redmond, United States.
The IIT-Kanpur passout will get around $136000 (Rs 94 lakh) as basic pay and $70,000 for resettlement, medical and visa charges including a stock ownership options. The total package, taking into account the annual bonus and joining bonus sums up somewhere close to Rs1.5 crore. From the same institute, last year, a student was on-boarded with a base pay offer at Rs 93 lakh.
As quoted by the TOI, the student requested anonymity. He first broke the news to his wing mates. “This is really exciting. Software once again has turned out to be the flavour of the placements,” he said.
As per records, IIT-K has nearly 200 companies listed for placements this year compared to around 280 which flocked the campus last year.
However, the companies that provide technology for reservoir characterisation, drilling, production and processing to the oil and natural gas industry are missing. Two big names Transocean and Schlumberger, which were present on the campus during placements till last year, are absent this year. Placements are seeing an increase in trading firms. Companies like Flow Traders have walked in for the first time including eCommerce majors like Amazon, Ola, Paytm and Uber.