The Final placement at the IITs beginning this weekend is set to get some crore-plus offers from MNCs like Microsoft, Salesforce, Cohesity and Uber who are on the lookout to hire the top engineering talent from these institutes, media reports have said.
Among the IT bigwigs, Salesforce is likely to emerge the top paymaster for the Class of 2020, as it has lined up offers of around Rs 1.8 crore (including variable pay and stock options) for software developer roles, IIT placement officials were quoted as saying. The American cloud-based software company is so far offering this international profile only at IIT-Madras and IIT-Bombay, they said.
“Despite all the talk about a slowdown, it is shaping up to be a strong placement season. There are more companies this year offering big salary packages,” said a placement coordinator at an IIT. Some of the pre-placement offers are likely to be converted into international offers during the final placements.
Microsoft, which has been making the biggest offer in the past three years, is offering about Rs 1.54 crore for roles in the US, Economic Times said. It had offered the same top package in the past two years as well. A ‘day-one recruiter’ on IIT campuses, it will hire for international and domestic positions.
Last year, only two companies, Microsoft and Uber, had offered such lucrative pay packages in excess of Rs 1 crore.
Privately held information technology company Cohesity, based in San Jose, and cab aggregator Uber have also lined up offers worth more than Rs 1 crore for jobs in the US. Uber’s offer remains unchanged from last year.
Making its debut at the premier engineering colleges is Clumio, a startup which is offering a package of Rs 89.5 lakh, said placement sources. Most of these companies are looking at hiring fresh graduates for software development profiles.
At National Institutes of Technology, too, final-year students have got more job offers and better pay packages in the ongoing final placement season, reports said.