Cos may offer crore-plus pay package on Mumbai, Kharagpur, Guwahati, Roorkee campuses
As the final placements at the Indian Institutes of Technology (IITs) kick off on Thursday, students are set to land their first crore-plus salary offers from Microsoft and Oracle.
The two US technology companies are putting forward such international salary packages in at least four campuses -Mumbai, Kharagpur, Guwahati and Roorkee, according to people privy to the matter at leading IITs. While the offers will be made in the early hours of Thursday, their total number could not be ascertained.
While both companies are said to be offering higher pay packages this year, Redmondheadquartered Microsoft is a notch above Oracle in base salaries for international roles. The former is likely to `72.5 offer about $106,000 (.lakh) and Oracle is said to be paying marginally less.
With the addition of variables such as employee stock option plan, joining bonus and relocation costs, the salaries for international roles at the higher end are about `. 1.2 crore, according to placement cell officials in at least three IITs. The final placements at the IITs start on December 1, also known as Day 1, with companies queuing up to grab young engineers for both domestic and international positions. Most international offers are made in the first half on Day 1.
Microsoft did not divulge details about the offer. “With campus hiring being an important source of talent, IITs form a key part of our campus hiring strategy, delivering some of the brightest talent for our business,“ Rohit Thakur, senior director HR, Microsoft India, said in response to an ET query. “Our pace of hiring from IITs has remained steady and this momentum will continue across IIT campuses this year as well.“ Oracle did not respond to a questionnaire sent by ET at the time of going to the press.
Traditionally , companies including Oracle, Microsoft, Google and Visa are known to make the highest salary offers at the IITs. Tech giant Google will be missing at most IITs this year as it plans to hire candidates directly , without involving the institutes.
Though crore-plus salaries are not uncommon at the IITs, they are handed out to only a fraction of the students. This year, PSUs are likely to make a large number of offers at the IITs after a ban on them hiring from campuses was lifted. In a first, many PSUs are already lined up at most of the IITs for the first phase of placements. Unlike last year, when startups hogged the limelight, this time most of them are missing.
Last year, many startups either revoked offers or deferred hires, leading IITs to impose a blanket ban on them for a year.
Source : Economic Times
Date : 01-12-2016