It may rain crores at IITs from Sunday
Salesforce, Microsoft, Cohesity and Uber are set to offer crore-plus pay packages for the cream of engineering talent at Indian Institutes of Technology where the final placement start this Sunday
Only two companies, Microsoft and Uber, had offered compensation packages in excess of Rs 1Crore last year.Desipte all the talk about a slowdown it is shaping up to be a strong placement season .There are more companies this year offering big salary packages said a placement coordinator at an IIT.
Salesforce is likely to emerge the top paymaster for the Class of 2020 as it has lined up offers of around rs 1.8 crore for software developer roles ,iit placement officials said .The American cloud - based software company is so far offering this international profile only at IIT Madras and IIT-Bombay,they said.
Microsoft which had made the biggest offer in the past three years is offering about Rs 1.54 crore for roles in the US .the officials said .This package comprises a base salary of $108,000,performance bonus of $ 21.600 joining bonus of $15,000 and restricted stock units worth $ 70,000
Microsoft had offered the same top package in the past two years as well .A day one recruiter on IIT campuses it will hire for international and domestic positions.
San Jose head quartered privately held information technology company Cohesity and cab aggregator Uber also have lined up offers worth more than Rs 1Crore for jobs in the US.Uber's offer remains unchanged fron last year.
Making its debut at the premier engineering colleges in Clumio,a starup which is offering a package of Rs 89.5 lakh sai placement sources.
Microsoft ,Salesforce ,Uber and Cohesity did not reply to emails sent by ET. Clumio could not be reached for comment
Most of these companies are looking at hiring fresh graduates for software development profiles.
Some of the pre -placements offers are likely to be converted into international offers during the final placements.
ET had reported last Saturday that preplacement offers at both old and new IITS had outnumbered last year numbers by an average of 19-24% in an indication that the top tech colleges are largely insulted from the economic slowdown.At National Institutes vof Technology ,too final year students have got more job offers and better pay packages in the ongoing final placement season