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IITians bring home those Rs one crore-plus offers this year too, despite the pandemic

About 30 students from Indian Institutes of Technology have bagged offers with packages higher than Rs 1 crore in campus recruitments this year despite the pandemic, with Samsung alone rolling out at least 18 such offers at the country’s top engineering colleges.

Almost all these crore-plus packages – which include components such as ESOPs, performance bonus among others – have been offered at three IITs – Bombay, Kanpur and Delhi, campus insiders and company officials said.

Compared to earlier years when most crore-plus offers were made for US postings, this time they have been distributed across countries like South Korea, Japan, Australia and the Netherlands. Companies that have extended such offers include Sony Corporation, Amsterdam-based trading firm Optiver, California-based information technology company

Samsung has made seven offers at IIT Bombay, six at IIT Kanpur and five at IIT Delhi, placement cells at the institutes said. Each of these offers is of $150,000 (Rs 1.1 crore) and made to students in computer science and electric engineering branches.The South Korean electronics major did not respond to ET’s email seeking comment till press time Tuesday.

Optiver has made seven offers at IIT Bombay of Rs 1.4 crore each.

“We have been very impressed with the candidates coming from India; in fact, some of our most talented team members are IIT Bombay alumni,” the company said in an email response. “This year, Optiver made employment offers of 157,000 euros per annum to seven IIT Bombay graduates and hope to expand our search for talent in India further in the future.”

Optiver has hired all the IIT Bombay graduates for its Sydney and Amsterdam offices in research and trading roles.

Cohesity, in an email response, said, “We do not share that level of detail regarding our hiring or compensation.” It had earlier told ET that it is hiring for software engineer and research engineer positions at the IITs.

An IIT Kanpur placement team member said Cohesity had made one international offer at the institute.

Sony Corporation has made offers IIT Bombay and IIT Kharagpur. IIT Bombay had earlier said in a release that the Sony offer is above Rs 1 crore.

“Hiring good talent has always been the key focus for Sony Corporation (Japan) and India is an important market which has a good talent pool with a plethora of renowned institutions. We have been associated with and recruiting from some of the top IIT institutions for about a decade now, however, we refrain from commenting on specific package offer,” the company said over email.

Ally.io did not respond to email queries as of press time Tuesday.

As reported by ET earlier, the rise in top domestic packages to new highs – in some cases by 30-35% – has also brought cheer to the institutes in a tough year. “A lot of these roles are global in nature where students work with international teams,” placement head at a top IIT said on condition of anonymity.

At IITs like Roorkee, Guwahati and Madras, top offers have been made by firms such as MTX Group, Quantbox Research and Graviton. These companies have rolled out offers of Rs 70-80 lakh for India postings. For the first time, at these campuses, they have surpassed the top international offers bagged by the students till now.