Microsoft increases pay package to IIT Madras students

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At least seven students from IIT Delhi and Mumbai have bagged job offers with pay packages of over 1 crore per annum, senior placement division officials at these institutes confirmed.

The software giant Microsoft, one of the regular recruiters at IIT Madras, has increased its pay package up to 40% compared to previous year for the students selected at the campus placements on day one here. Top Indian companies such as Oil and Natural Gas Corporation and Indian Space Research Organization are also among 50-odd companies and start-up ventures offering hefty packages to the IIT Roorkee students, said Prof NP Padhy, the placement in-charge.

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For the initial time, firms are giving a visit to IIT Banaras Hindu University (BHU), Varanasi, to pick engineering skills to build groups for machine learning, AI, and robotics, claimed a person in the placement team of the institute. Manu Santhanam, Advisor, Training and Placement, IIT-Madras, said: "The placement season has begun on a promising note with a large number of offers made in the first session on first day". In 2016-17 placement, 305 recruiters offered students about 1,114 jobs.

In the second slot which started at 4 pm, 14 companies including Airbus Group India, Flipkart, Oracle, Samsung R&D, and Qualcomm participated. As per reports, it is said that Microsoft offered United States dollars 2,14,600 to a student, while Uber was ready with USD 1,55,000. Airbus Group, Bain & Company, Boston Consulting Group, Google, Goldman Sachs, Intel, Microsoft, ONGC, Procter & Gamble, Samsung R&D, Texas Instruments, Tata Steel and Qualcomm were among the major recruiters a year ago. "Moreover many more students are receiving worldwide offers", he said. He however did not divulge the highest pay package offered at the institute so far.

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"There are at least 50 more companies in fray which were not there previous year". IIT Madras received 195 offers by the end of the first day. The internships for students are facilitated through a coordinated process.

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