At the end of 1st Session of Day one of the recruiting process at IIT Madras, a total of 25 offers with annual compensation packages of over Rs one crore were made...
Digital Desk: On Thursday, the Indian Institute of Technology (IIT) Guwahati received the highest overseas offer of Rs 2.4 crore, beginning off the first day of final placements with hope in a post-pandemic year marred by layoffs and a hiring freeze.
At the end of the day, the top overseas offer at IIT Guwahati was up 17% from last year's Rs 2.05 crore, while the highest local offer was Rs 1.1 crore. Placements were being conducted at some of the most prestigious older IITs.
At the end of Session 1.1 on Day One of the recruitment process at IIT Madras, a total of 25 offers with compensation packages above Rs 1 crore per year were made. Four companies made 15 foreign offers to their students.
IIT Roorkee, on the other hand, received the highest overseas offer of Rs 1.06 crore, while the best domestic offer at the institute increased to Rs 1.30 crore. On the first session of day one, ten students received presents worth more than Rs 80 lakh. IIT Roorkee had six overseas offers as of 2 p.m.
IIT Madras also set a new record with 445 offers at the end of Session 1.1, including pre-placement offers, up 10% over the previous year's tally of 407.
A total of 1,722 students from various courses have registered for placements at IIT Madras for the 2022-23 academic year. In the first phase of placements, 331 companies registered with the goal of recruiting 722 students.
Texas Instruments made 14 offers on Session 1.1 at IIT Madras, Bajaj Auto Ltd and Chetak Tech Ltd combined offered 10 jobs, Qualcomm (8), JPMorgan Chase & Co (9), Procter & Gamble (7), Morgan Stanley (6), Graviton (6), McKinsey & Company (5), and Cohesity (5).
Google, Microsoft, JPMorgan Chase, American Express, Texas Instruments, Uber, Qualcomm, C-DOT, Enphase Energy, and Oracle were among the top firms at IIT Guwahati.
46 organisations made a total of 168 offers for roles such as software development engineer, data scientist, quant, core engineer, UX designer, VLSI, vehicle engineer, analyst, and product designer during Sessions 1.1 and 1.2. At the end of Session 1.2, the institute got two international offers.
In total, 31 firms made 365 (including pre-placement) offers at IIT Roorkee until 1 p.m. Among the companies represented were AppDynamics, Bajaj Auto, BCG, Cairn Oil and Gas, Da Vinci Derivatives, Flipkart, Graviton, HiLabs, Infurnia, Intel, JP Morgan, Maverick Derivatives, Microsoft, NHA, NK Securities, Nvidia, ONGC, Oracle, Plutus Research, Qualcomm, Quantbox, SAP Labs, Schlumberger, Sprinklr, Square
Sathyan Subbiah, adviser (placements), IIT Madras, commented on the placements, saying that while some software majors, such as Google and Microsoft, took a "little more conservative" posture on the first day, others, such as Qualcomm, did not scale back their offers compared to previous years.
"Moreover, despite the general hiring scenario being a little more conservative," Subbiah noted, "foreign offers were slightly higher than last year."
A total of 1,269 students from various courses have registered for placements at IIT Guwahati for the 2022-23 academic year. Meanwhile, 264 businesses, including 78 start-ups, have registered for phase one of the placements. Students at IIT Guwahati have already received 218 pre-placement offers, the most in the prior four years. So far, the majority of offers at the institute have been for core engineering, IT, finance, and analyst positions.
Last year, IIT Roorkee received the highest international salary of Rs 2.15 crore on day one, while Uber made the highest offer of Rs 2.05 crore to IIT Guwahati and IIT Bombay, respectively.
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