Chennai: Around ten students from IIT Madras this year have received pay packages above Rs 1 crore, according to sources. US companies including Microsoft and Rubrik made the hefty offers to students from the top engineering institute in the country. One of the regulars at IIT Madras recruitment said that Microsoft has increased its pay package up to 40% compared to the last year.
Downplaying the hefty pay packages offered to IIT-M students, Professor Manu Santhanam, adviser, Training and Placement, IIT Madras said, “the US companies with international offers gave pay packages around Rs 1 crore which is equivalent to Rs 20 to 25 lakh per annum in India.” He pointed out the cost of living in US cities like San Francisco is much higher.
A total of 968 offers made by 256 companies registered for the placements for 2017-18. Out of 968 offers, 19 offers were international offers. “Of 1,100 students registered for the placements, 832 (70%) were placed, which is an increase compared to the previous year,” Professor Manu Santhanam said. In 2016-17, 817 students from IIT Madras were placed.
Many big companies including Apple Inc came to IIT Madras for campus placements for the first time.
There are nearly 15% new companies coming for campus recruitment in 2017-18 reflecting the institute's status as top-ranked engineering institute in the country for three successive years.
“Many companies which prefer institutes like IIT Bombay have visited our campus for recruitment this year,” Professor Manu Santhanam said. The placements of PhD scholars and PG students witnessed a considerable increase compared to the previous year. “Among the registered candidates, 71 per cent PG students and 36 per cent PhD scholars got placed this year at the core companies which is very satisfying,” he said. The start-ups also participated in good numbers in the recruitment.
A total of 38 start-ups made 101 offers of which 83 were accepted. Flipkart made 18 offers this year.
The sector-wise analysis indicates that nearly 45% of the placements were in core engineering and R&D companies, while 28% were in Analytics/ Consulting/ Finance, and 22% in IT.
As many as 95 students were placed through Pre-Placement Offers (PPOs) in 2017-18. A total of 114 PPOs were made as against 73 in the previous year, an increase of 56 per cent.
