Three IIT-Bombay students have snagged the highest pay package of Rs 1.42 crore each, offered by Facebook.
At the Indian Institutes of Technology or IITs this year, jobs with a one-crore plus salary are on offer for students, thanks to Facebook. This placement season, the social networking giant has joined the search for the first time.
In tune with Prime Minister Narendra Modi's "Make in India" push, the IITs are also encouraging students to choose companies with manufacturing bases in India.
On day 1 of recruitments, manufacturing giants like Airbus and GE were seen on the campus of IIT Bombay
In 20 days, more than 1,000 students still to graduate from among the world's most acclaimed institutes are expected to be hired by 350 global firms.
Some 100 students have got jobs in just the first two days. Three IIT-Bombay students snagged the highest pay package of Rs 1.42 crore each, offered by Facebook.
Aastha Agarwal, a graduate hired by Facebook, had a reality check for those looking for dream jobs. "One crore may seem like a huge package, but it has many components, some of which may not come to us immediately. The amount the media is reporting is not true," she said.
Oracle, Amazon, Cisco, Samsung India and Yahoo Japan also visited IIT-Bombay.
Avijit Chatterjee, professor-in-charge of placements at IIT Bombay said, "On getting an early placement, a student feels special and is committed to the company. The companies basically say that they have tested the students for a longer period and liked them."
At IIT-Madras, there was a big demand among students for IT jobs. Microsoft, IBM and Cisco offered overseas jobs with Rs 80 lakh plus salaries and in India, up to Rs 30 lakh.
"It is a dream come true to work in the headquarters of Microsoft," said E Dhivya, recruited by the software giant.
But IIT-Madras has seen a dip in salaries for overseas jobs. The highest offer was around Rs 80 lakh. Facebook did not visit IIT-Madras campus this year.
Professor Babu Viswanathan, placements advisor at the institute, said, "It's rare that one company offered high salary last year but overall the packages are good this year."