Indian Tiger
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- May 31, 2011
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NEW DELHI/KOLKATA: If this year's campus placement offers at India's premier technological institutes are anything to go by, it looks like corporate biggies have shrugged off the sense of gloom that slowing economic growth and tumbling stock markets have created.
The Indian Institutes of Technology (IITs) recorded a 10-20% jump in salaries at the final placement offers for students at Madras, Kharagpur, Bombay, Delhi, Guwahati and Roorkee. The top offer thus far is an annual package of Rs 75 lakh ($150,000) from social networking platform Facebook.
A close second is US-based mobile gaming start-up Pocket Gems' Rs 69.8 lakh ($135,000), followed by global miner Rio Tinto's Rs 36 lakh and Japanese consumer electronic major Sony Corp's Rs 30 lakh. Facebook has also made two offers of Rs 67.2 lakh ($130,000) and six offers of Rs 64.7 lakh ($125,000) across the IITs.
"The year definitely looks great. There is a lot of demand for students, especially from companies that want to train them to be global leaders in research and development. Salaries, too, have gone up 10-20%. The way the process has started, we don't see any market sentiment impacting it," said N Ramesh Babu, professor and placement advisor at IIT-Madras.
The placement process, which started on Thursday, will continue into April. So far, 19 companies have completed the placement process, making 66 offers. Amazon, Schlumberger, IBM and ITC have been among the regulars on campus while new names on the block include Flipkart and EXL Service.
RUSH AT ALL IIT CAMPUSES
The line-up of companies wanting to tap Indian talent also includes investment banking and securities firm Goldman Sachs, management consulting firms McKinsey and The Boston Consulting Group, Internet company Google, Shell Technologies, Swiss offshore drilling company Transocean, Deutsche Bank and Indian heavyweights HUL and ITC. At IIT-Madras, 15 companies made 45 offers on Day 1.
The highest was from Pocket Gems, which picked up three students at the same salary, followed by Facebook's offer for two US positions. Last year, the highest offer at the campus was Rs 28 lakh from Transocean. Goldman Sachs picked up 11 students at a pay package of Rs 26 lakh while Sony Corp (Japan) snapped up five with salary packages of Rs 30 lakh each.
Transocean offered a pay package of Rs 28 lakh to one student while Deutsche Bank picked up eight students at salary packages of Rs 21.5 lakh. Google is offeringRs 20-21 lakh. The institute's Guwahati campus has landed the highest offer until now amongst all campuses, from Facebook. "Three students have been offered packages of $150,000 (Rs 75 lakh) each for positions based in the US," said Saurabh Basu, faculty-in-charge training and placements at IIT-Guwahati.
"Microsoft has made 10 offers, of which two are in the US, at a salary of around $119,000 (Rs 61.55 lakh). Google has made two offers, of which one is in the US," he added. The overall response has been better than last year. "More than 200 companies have already confirmed for December.
Last year, a total of 280 companies had come till June," said Ravi Sinha, professor-in-charge, placements, IIT-Bombay. The campus at Bombay is playing host to 5-10 new companies this year, including Works Application from Japan and American retailing company Target Corp.
Sinha, too, said that packages have gone up 10-20% compared to last year. The campus had The Boston Consulting Group, McKinsey, Goldman Sachs, Morgan Stanley, Deutsche Bank, Google, Facebook, Microsoft, P&G, Sony and Shell on day 1. Students bagged 130 offers. At IIT-Kharagpur, Facebook made the highest offer at $125,000 to four students who will be based in the US.
"The campus saw a total of 84 offers from 17 companies at the end of day 1, which had Opera Solutions, Rio Tinto, Schlumberger, Microsoft and HUL among the recruiters," said placement head SK Srivastava. "Day 2 had Intel, Nomura, American Express and Amazon, among others." A similar placement start unfolded at IIT-Roorkee. Till now, 140 companies have signed up as compared with 120 last year.
The highest offer on day 1 was Rs 36 lakh from Rio Tinto, which was surpassed on day 2 by Facebook, which made two US offers for around $130,000 (Rs 65 lakh). Companies on day 1 included Rio Tinto, Schlumberger, Texas Instruments, Shell and ITC, while day 2 saw Cairn Energy and Paypal among others. Microsoft offered 12 jobs, of which eight were based in the US.
"So far, packages on an average have been 15-20% higher than last year," said IIT-Roorkee professor-incharge placements, PK Jain. Last year, the average salary was Rs 7.5 lakh across all programmes. This year, the institute aims to place 1,200 across all disciplines.
At IIT-Delhi, over 20 companies picked up 130 students, giving a boost to last year's salary average on the first day by 10%, offering similar packages as they did in other top campuses. But the professor-incharge of placements, Kushal Sen, sounded a note of caution. "We will do well this year, but given the market sentiments, we are keeping our fingers crossed. The start has definitely been good," he said.
The institute has more than 220 companies registered with it for the process. IIT-Kanpur, which started the process on Friday, has 200 companies lined up from across sectors. Of these, 25 are coming on campus for the first time. IIT-Kanpur has 950 candidates registered for placements this year.
At IITs, placements trump slowdown as corporate biggies like Amazon, Schlumberger, IBM and ITC pour in good offers - Economic Times
The Indian Institutes of Technology (IITs) recorded a 10-20% jump in salaries at the final placement offers for students at Madras, Kharagpur, Bombay, Delhi, Guwahati and Roorkee. The top offer thus far is an annual package of Rs 75 lakh ($150,000) from social networking platform Facebook.
A close second is US-based mobile gaming start-up Pocket Gems' Rs 69.8 lakh ($135,000), followed by global miner Rio Tinto's Rs 36 lakh and Japanese consumer electronic major Sony Corp's Rs 30 lakh. Facebook has also made two offers of Rs 67.2 lakh ($130,000) and six offers of Rs 64.7 lakh ($125,000) across the IITs.
"The year definitely looks great. There is a lot of demand for students, especially from companies that want to train them to be global leaders in research and development. Salaries, too, have gone up 10-20%. The way the process has started, we don't see any market sentiment impacting it," said N Ramesh Babu, professor and placement advisor at IIT-Madras.
The placement process, which started on Thursday, will continue into April. So far, 19 companies have completed the placement process, making 66 offers. Amazon, Schlumberger, IBM and ITC have been among the regulars on campus while new names on the block include Flipkart and EXL Service.
RUSH AT ALL IIT CAMPUSES
The line-up of companies wanting to tap Indian talent also includes investment banking and securities firm Goldman Sachs, management consulting firms McKinsey and The Boston Consulting Group, Internet company Google, Shell Technologies, Swiss offshore drilling company Transocean, Deutsche Bank and Indian heavyweights HUL and ITC. At IIT-Madras, 15 companies made 45 offers on Day 1.
The highest was from Pocket Gems, which picked up three students at the same salary, followed by Facebook's offer for two US positions. Last year, the highest offer at the campus was Rs 28 lakh from Transocean. Goldman Sachs picked up 11 students at a pay package of Rs 26 lakh while Sony Corp (Japan) snapped up five with salary packages of Rs 30 lakh each.
Transocean offered a pay package of Rs 28 lakh to one student while Deutsche Bank picked up eight students at salary packages of Rs 21.5 lakh. Google is offeringRs 20-21 lakh. The institute's Guwahati campus has landed the highest offer until now amongst all campuses, from Facebook. "Three students have been offered packages of $150,000 (Rs 75 lakh) each for positions based in the US," said Saurabh Basu, faculty-in-charge training and placements at IIT-Guwahati.
"Microsoft has made 10 offers, of which two are in the US, at a salary of around $119,000 (Rs 61.55 lakh). Google has made two offers, of which one is in the US," he added. The overall response has been better than last year. "More than 200 companies have already confirmed for December.
Last year, a total of 280 companies had come till June," said Ravi Sinha, professor-in-charge, placements, IIT-Bombay. The campus at Bombay is playing host to 5-10 new companies this year, including Works Application from Japan and American retailing company Target Corp.
Sinha, too, said that packages have gone up 10-20% compared to last year. The campus had The Boston Consulting Group, McKinsey, Goldman Sachs, Morgan Stanley, Deutsche Bank, Google, Facebook, Microsoft, P&G, Sony and Shell on day 1. Students bagged 130 offers. At IIT-Kharagpur, Facebook made the highest offer at $125,000 to four students who will be based in the US.
"The campus saw a total of 84 offers from 17 companies at the end of day 1, which had Opera Solutions, Rio Tinto, Schlumberger, Microsoft and HUL among the recruiters," said placement head SK Srivastava. "Day 2 had Intel, Nomura, American Express and Amazon, among others." A similar placement start unfolded at IIT-Roorkee. Till now, 140 companies have signed up as compared with 120 last year.
The highest offer on day 1 was Rs 36 lakh from Rio Tinto, which was surpassed on day 2 by Facebook, which made two US offers for around $130,000 (Rs 65 lakh). Companies on day 1 included Rio Tinto, Schlumberger, Texas Instruments, Shell and ITC, while day 2 saw Cairn Energy and Paypal among others. Microsoft offered 12 jobs, of which eight were based in the US.
"So far, packages on an average have been 15-20% higher than last year," said IIT-Roorkee professor-incharge placements, PK Jain. Last year, the average salary was Rs 7.5 lakh across all programmes. This year, the institute aims to place 1,200 across all disciplines.
At IIT-Delhi, over 20 companies picked up 130 students, giving a boost to last year's salary average on the first day by 10%, offering similar packages as they did in other top campuses. But the professor-incharge of placements, Kushal Sen, sounded a note of caution. "We will do well this year, but given the market sentiments, we are keeping our fingers crossed. The start has definitely been good," he said.
The institute has more than 220 companies registered with it for the process. IIT-Kanpur, which started the process on Friday, has 200 companies lined up from across sectors. Of these, 25 are coming on campus for the first time. IIT-Kanpur has 950 candidates registered for placements this year.
At IITs, placements trump slowdown as corporate biggies like Amazon, Schlumberger, IBM and ITC pour in good offers - Economic Times
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