After a lean placement season for the past few years, it was celebration time at the Indian Institute of Technology Roorkee (IIT-R) on Saturday when a BTech final year student got an offer from California-headquartered internet search giant Google for an annual compensation package worth Rs 1.31 crore. Confirming the offer, NP Padhy, head of the institute’s placement cell, said that “it was the highest ever package offered by any company in the history of the institute.”
However, he refused to share details of the student who had got the offer, saying that “publicizing these details may have a demoralizing effect on other students of the batch who had not received similar offers.”
Besides Google, other IT majors like Oracle and Microsoft also offered starting salaries worth Rs 93 & 91 lakh each to two other students of the institute. IIT sources said that so far, in the first phase of campus placements which will continue till December 22, 97 companies had registered, and 432 students out of a batch of almost 700 had found placements. Twenty-seven students had been recruited by organisations for their overseas campuses. “We have witnessed an increase of 30% in companies’ presence on the campus this year as compared to last year. We hope that more than 300 companies will visit us till the end of our placement drive, which will continue till the end of next month,” said Padhy.
Incidentally, a few days earlier, Ashutosh Agarwal, a student of IIT Patna received an offer of Rs 1.80 crore from Google. A clutch of other US-based companies like Oracle, Microsoft, Visa, etc, had also made offers at other IITs with basic pay of at least $100,000, equivalent to almost Rs 67 lakh. This was not including relocation bonus and other benefits. Factoring the variable component into the equation — including Esops — the total packages offered by some companies like Google were as high as Rs 2 crore.