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  • Facebook Offers 1.55 Crore Package to IIT Graduates

    Facebook Offers 1.55 Crore Package to IIT Graduates

    There is as much as 10-20% rise in the average salaries and 30% increase in global offers to the Indian engineering graduates regarding the placement of the academic season of 2014. The first phase of placement season come to an end yesterday and it it seen that about 15-20% more jobs offers have come up comparing with the data of the recent years.

    The highest package offering recruiter being the social networking giant Facebook which offered 1.55 Crore Package to IIT Graduates. This figure is also the highest ever offer across IITs.

    Facebook made the offer for software engineer profiles based out of California to three students at IIT Kharagpur and to an unknown number at IIT-Bombay, sources at the two institutes revealed.

    According to campus sources, highest offer included Samsung - $150,000 (Rs 93 lakh), Microsoft -$129,000 (Rs 80 lakh), Oracle - $125,000 plus Esops (Rs 78 lakh plus Esops), Google - $125,000 (Rs 78 lakh) and Visa -$140,000 (Rs 87 lakh).

    At IIT-BHU, Varanasi, the top package from a multinational was Rs 77.5 lakh ($100,000 base salary, $15,000 sign-on bonus and $10,000 relocation and stock options), an over 19% jump over the top offer last year. At IIT-Kanpur, it went up over 36% from $110,000 last year to $150,000 this time.

    Other first day recruiters across the 16 IITs included the likes of Goldman Sachs, HUL, ITC, Credit Suisse, McKinsey & Co and BCG. IIT-Bombay, which on student demand, has moved up some core engineering companies to premium slots, had GE, Airbus and Qualcomm among others, vying with traditional first-day recruiters for the first time.

    Tower Research with Rs 44 lakh for an international role and WorldQuant with Rs 42 lakh for a domestic profile were among prominent recruiters at campuses such as IIT-Kanpur, placement sources revealed. Goldman Sachs offered packages of Rs 26 lakh and Credit Suisse around Rs 15-18 lakh while Samsung offered the most for its Korea posting.

    The placement season will continue till March-April, though a bulk of offers would roll out over the next three weeks.

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