Microsoft offers ₹1.5 crore package in IIT placements

Software giant Microsoft is set to emerge as the top payer at the Indian Institutes of Technology (IITs) this placement season, for the third year in a row. The company is offering the highest annual package, pegged at about ₹1.5 crore for jobs in the US, according to placement teams at the top IITs.

It’s followed by cab aggregator Uber, which is also making ₹1 crore-plus offers for jobs in the US to those graduating in 2019. Placement cell members confirmed that Microsoft is offering as much as $214,600, including base salary, performance bonus, joining bonus and restricted stock units. Microsoft and Uber are so far the only companies offering packages upwards of ₹1 crore inclusive of base salary and all variables at the IITs, they said. Placements at the older IITs start from 1 December, while they start earlier at the newer ones.

“India is a source of strong engineering talent for Microsoft,” said Ira Gupta, head of human resources at Microsoft India. “This year we have already made 400-plus job offers to students at top engineering colleges in India and will continue to look for exceptional talent at the other IITs.” Microsoft seeks to hire from the best schools in India and around the world, she said.The company declined to provide pay details. “Microsoft’s compensation offers are confidential between the company and a candidate. Microsoft does not share details of any compensation offers,” a spokesperson said.

— Prachi Verma, Sreeradha D Basu

Source:- The Economic Times
Date:- 3rd December,2018-Monday


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