It is proving to be a record-breaking placement season at Indian Institute of Technology (IIT’s) across various parameters – from the number of Rs 1 crore-plus packages and total job offers received by students so far, to international postings. A student of the IIT has received an offer of the highest domestic package of INR 1.8 crore. A few days back a student of the Indian Institute of Technology, Roorkee received an offer of INR 2.15 crore per annum. Again a student of IIT Bombay was offered roughly around INR 2.05 crore by Uber and another student of IIT Guwahati has been offered INR 2.2 crores per annum this year. The number of crore-plus packages across four IITs: Kanpur, Roorkee, Kharagpur and Varanasi (BHU) so far this year has exceeded 80, far surpassing what has been the total tally across all IITs in previous years.
International offers, too, have seen a huge jump compared to last year when Covid-19 took a toll on global postings. This year, six IITs – Kanpur, Madras, Kharagpur, Roorkee, Guwahati and BHU – have attracted 220-plus international offers already, far higher than last year. International offers at IIT Madras have jumped 181% to 45 from 16 last year, by 366% to 28 from six at IIT Guwahati, and 147% to 47 from 19 at IIT Kanpur. IIT-BHU has 35 international offers, compared to none last year.
At last count, India’s top eight Indian Institutes of Technology (IITs) have attracted almost 9,000 jobs for their students, including around 160 offers with an annual salary of Rs. 1 crore each, till now, which is unprecedented in its history.
The average salary hike at the older campuses this year has been in the range of 15% to 35% so far, making it one of the most successful years of campus placement for the elite engineering schools. The competition is fierce among companies to hire IIT students with attractive packages for top tech talent.
“This year, IIT-Madras students have received 27 Rs. 1 crore+ offers. The institute did not have any (Rs. 1 crore + salary offers) last year. And this includes both domestic and international offers” said C. S. Shankar Ram, advisor (training & placement), IIT-Madras.
Other campus placements
At IIT-Kanpur, over 1,330 offers have been made in the first phase and the average compensation leapt almost 35%. IIT- Kanpur is compiling granular detail and may release a formal statement in the next week or so, a placement coordinator said.
At IIT-Roorkee, 1,243 offers were received in the first phase of the placement season, including 32 international jobs. Some 281 companies participated in the first phase and recruited over 80% of the students seeking placement in this hiring season, according to a spokesperson for IIT-Roorkee.
Similarly, at IIT-Kharagpur, over 1,600 jobs were offered to its students. IIT-Delhi students received 1,250 offers. At IIT-Bombay, a record 1,382 offers were accepted in the first phase.
IIT-Guwahati, where the first phase of placements is still underway, said 843 students had got job offers so far and more were in the pipeline.
“The phase-1 placement is still going on. So far, a total of 843 students of IIT-G have been placed. Last year by this time, a total of 610 students were placed,” said Abhishek Kumar, head of the Centre for Career Development at IIT-Guwahati.
Likewise, at IIT (Banaras Hindu University), Varanasi, over 1,100 offers were made including pre-placement ones.
“We are far ahead of recruitment this year as compared to the recent past. The companies are keen to hire more and technology firms are making good offers,” said a placement coordinator at IIT (BHU), Varanasi.
