IIT students bag Rs1 crore-plus placement offers

IIT Bombay sees lower participation from start-ups

The number of companies this year is less than the last year.

"We have several more companies lined up in the next two days of placements, and the scenario is looking good with a number of interesting technical profiles for the students to choose from". Close to 1,500 have registered for placements and deferred placements have been offered to six students this year.

Prof. Manu Santhanam said, "The opening season has been very encouraging with many companies opening up job profiles for core engineering and research-based roles".

Oracle, Microsoft, Uber US, Works Applications, Rocket Fuel and NTT Communications were among the companies that made offers to students.

Almost a dozen students from the older IITs at Kanpur, Delhi, Mumbai, Roorkee, Guwahati, Kharagpur and Madras bagged annual salary offers of Rs. 90 lakh-1.15 crore on the first day of the two-week long recruitment drive. "Because of the floods previous year, several companies scheduled to come in December came only in January and some of them didn't come", he explained.

The recruiters from day one of placement season included names like Microsoft India, Oracle India, Goldman Sachs, Credit Suisse. No startup has been listed for day one.

After the withdrawal of offers by start-ups past year, there is generally a lack of interest among the students to join the start-up companies.

The first phase of IIT-B placements will continue till December 15 and will be attended by more than 300 companies this year. "The Madras high court dismissing a plea against direct recruitment by PSUs could be a reason", Kaustubha Mohanty, placement chairperson of IIT Guwahati and convener of the All-IIT Placement Committee, was quoted as saying. "All of them have confirmed their participation in the placement drive", Professor Manu Santhanam said. "They, too, recruited fewer candidates", said the student.

A press release from the institute said that many Public Sector Units (PSU), universities and colleges have approached the institute.

The first phase of placements at Indian Institute of Technology Bombay (IIT-B) will be led by financial services firm Visa and IT giants Microsoft and Google. "Only three consultancy companies - BCG, Bain and ATK - visited this year". Some four companies including HPCL, BPCL are scheduled for next two weeks.

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